Bitcoin vs. Altcoins: Why to Consider Various Options for Investment

Bitcoin vs. Altcoins: Why to Consider Various Options for Investment

It is somewhat difficult to imagine how a middle-class person can purchase one bitcoin, at a price of around $15,000, at a time. No wonder that lots of those who desire to pile into this cryptocurrency, prefer buying just little “portions” of bitcoin rather than the whole one. However, there’s always another solution to the problem. If you are impatient with bitcoin but are eager to get rich fast, you are welcome to invest in “mini” crypto coins.

“I’m a completist. It actually bugs me seeing fractions of a coin in my Blockfolio [cryptocurrency app]. This might sound silly, but it just looks better seeing hundreds of coins in there. Buying tiny pieces of a bitcoin is quite demoralizing, because you’re spending a lot of dollars, but your BTC balance is barely moving,” one crypto trader told news.Bitcoin.com.

Our top trading bots

Cheap and Cheerful

For example, instead of buying a thousandth of a bitcoin (one millibit) for $14, you could purchase 1,300 of Reddcoins or 700 of Verge. Sure enough, neither of them can compete with the leading cryptocurrency, but the good news is that they are cheap, they have potential to rise in price and, more importantly, there are lots of micro alternatives to bitcoin.

According to the website, skilled traders believe that the most advantageous moment to purchase altcoins is when bitcoin is at a standstill. Otherwise, the market of alternative coins tends to suffer when BTC is experiencing surging or plunging as all the money either flock back intro fiat or into bitcoin. Nevertheless, within the past few weeks, altcoins have floated as bitcoin went through the wobbling period. Sometimes each altcoin in the top 100 was in the green, as it enjoyed the inflow of capital.

For example, this month among the most benefited coins are Verge (+3,600%), Tron (1,600%) and Reddcoin (1,450%). Exciting to admit, none of them costs over four cents. Meanwhile, by December Litecoin surged from the rate $4.33, at which it was fixed at the beginning of 2017, to $88, meaning the total growth works out at 7,000%. For that, The Wall Street Journal is even questioning the possibility of bitcoin substitution by Litecoin.

At the same time, Doge signaled its return when it gained 475% this month and right now is the only cryptocurrency left on Bittrex trading at around 98 sats. If Doge overcomes the figure of 100, it will mark the end of inexpensive currencies on large exchanges.

A Bird in the Hand

Currently, no one knows precisely how many people possess at least one bitcoin as long as lots of investments are kept in exchange wallets. However, it is estimated that approximately there are one million of such investors. But what is definite is that the majority of them will never be able to possess a whole bitcoin.

Fortunately, bitcoin can be divided into 100 million parts but “the trouble is, no one talks in millibits. Nor do they talk about owning 0.0001 of a bitcoin. Discussing small quantities of bitcoin is downright awkward. Moreover, in cultures that pride themselves on status symbols, particularly in the east, owning a whole bitcoin is something to aspire towards,” as Kai Sedgwick wrote for news.Bitcoin.com.

Sure enough, it’s a vanity which moves the purchase of altcoins. It’s more pleasant and even practical to own 1,000 of altcoins instead of 0,001 of bitcoin as long as you will also have a back-up in case your workhorse crashes down. Nevertheless, for somebody, the quality might be more beneficial than the quantity as the old saying goes: "A bird in the hand is worth two in the bush.”

Altcoin Roundup: Smart investors don’t just buy dips, they dollar-cost average
Choppy markets have defined the crypto space since Bitcoin (BTC) sold off on April 19, and indecisive markets like these can test the patience and fortitude...
Tributes and conspiracy theories swirl in wake of John McAfee’s death
The reported suicide of notorious tax fugitive, Bitcoin proponent, and antivirus software pioneer, John McAfee, has prompted an outpouring of tributes and...
Block.one free to focus on $10B crypto business after lawsuit settlements
EOSIO developer Block.one says it is focusing on its crypto business mandate after recently settling a class action lawsuit.In a blog post published on...
Glassnode predicts BTC rally as stablecoin supply tags record highs
The circulating supply of the four-largest stablecoins has spiked to new all-time highs, suggesting buyers could soon spark another leg up for the Bitcoin...
Terrorists still raise money through crypto, but the impact is limited
We’re living today “amidst an explosion of risk related to fraud, money laundering, terrorist financing, and data privacy,” said United States Treasury...
Jeremy Allaire: 'USDC is halfway to flipping PayPal'
The co-founder and CEO of Circle, Jeremy Allaire, has made a bold prediction that the company-issued stablecoin is on track to surpass payments giant PayPal...
Argo Blockchain to launch clean energy Bitcoin mining pool
Publicly-traded cryptocurrency mining firm Argo Blockchain will launch a Bitcoin (BTC) mining pool powered solely by clean energy, the company announced...
Optimism abounds for crypto and blockchain adoption at virtual Blockchain Africa
The first-ever virtual version of Blockchain Africa delivered an optimistic outlook for the cryptocurrency and blockchain space in the continent as the...
Holds 100 Cryptos, Bluetooth-Enabled: Ledger Presents New Hardware Wallet
As the entire crypto-market is struggling to recover, led by bitcoin being over $4,000, technological advancements in the industry do not «muck about.»...
Bloomberg Intelligence Strategist: Bitcoin May Tumble to $900 Resembling Dot-Com Crash
Since mid-December, when a unit of bitcoin cost about $16,000-$20,000, its price has halved. Even though BTC managed to recover from February 6 correction,...
Charlie Lee: Litecoin Cash - Scam
The fork of Litecoin, which is expected on February 19, caused a wave of anger and accusations of fraud after a similar warning from Charlie Lee.The creator...
Skychain Will Change The Ecosystem Of Neural Networks
Think about this figure: only in the EU and the US more than half a million patients a year die due to a misdiagnosed diagnosis and related complications...
BTC Will Cost ‘$1 Million’ – Bitcoin Advocate Casares Tells PayPal CEO
In an interview with Dan Schulman, PayPal CEO, bitcoin’s early advocate Wences Casares said that this cryptocurrency’s price one day would surpass the...
Binance Can Not Accept New User Registrations
Binance, the cryptocurrency exchange, said it temporarily suspends the registration of new users. Information about this was published on the site and...
Your First Transaction With Bitcoin? Prepare To Be Charged
You might have heard that cryptocurrency transactions are more simple than the bank ones regarding use. Digital coins are decentralized, and there is no...