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making money trading/holding alt coins
 

Here me out on this

If what we're experiencing with Bitcoin lasts for a few more years (the overall bull run), you may make a larger return by also holding certain alt coins. I'm not talking about obvious scam coins, but safer altcoins such as Ethereum and Litecoin. Alt coins have been out performing Bitcoin most of last year.

What I've noticed in the last year of trading is money usually flows into bitcoin, it rallies for a period of time, along with some of the alt coins, then bitcoin consolidates while money flows into alt coins. Then after alt coins pump for a short period, then money usually flows back into Bitcoin, while alt coins plummet. This cycle has been happening the entire time I've been tracking crypto (1 year~).

What keeps happening every cycle is more money is being brought into the market if you watch the overall crypto market cap increase. The overall crypto market cap has nearly doubled every month for the past 3 months

I wouldn't advise trading more than 30% of your current Bitcoin holdings into alt coins (assuming you're only holding Bitcoin). If you research the top 100 coins and make a list of the safer ones with the better community, those will most likely keep rallying with Bitcoin as Bitcoin continues to grow. I spent weeks reading about the top 100 coins and choose coins that have a solid community, and haven't hyped/rallied as much as others. Most of the coins I hold have already had a crazy rally but I'm still holding them. So far, its been more profitable to buy and hold alt coins, than holding Bitcoin (by a pretty big margin). Currently holding BTC (60%), LTC, XMR, NEO, VeChain, Walton Coin, Vertcoin & Binance Coin. All of the alt coins have out performed bitcoin by 3-15x in the same period of time.

If Bitcoin continues to rally for at least a year, all the other safer alt coins will continue to rally as well, there's no reason they wouldn't follow Bitcoin up the charts. These alt coins have a much smaller marketcap than bitcoin, so their value is more likely to multiply by 5-20x in the same period your Bitcoin value doubles. Once Lightning rolls out for Bitcoin (instant, cheap transactions) it may be a risky strategy to hold any alt coins, but until then I think you'll make a pretty sexy return diversifying and catching some of these monster rallies while the Bitcoin networks continue to be congested. People are hyping on anything right now, pick a safe/solid alt coin and you'll see what I mean. There's no reason Ripple just went from 0.22c to $3.70 in the last week or so. There's some silly shenanigans going on.

There is no doubt money is currently pouring into the crypto markets, but these rallies are likely not going to last long. Right now you'll have a hard time registering and getting verified on any of the larger exchanges. They are receiving customers/volume like they never had before. Bittrex and Binance have stopped accepting new registrations. Gemini/Gdax and most other exchanges are experiencing really long verification delays. The way I see it is the crypto marketcap is 800B (all coins, not just Bitcoin) and golds marketcap is 7.8T, I'd say we got a pretty solid chance of hitting half the market cap of gold (~4T) before I advise running for the hills. Assuming the crypto market cap continues to doubles every month (on this current hype train), it would reach half the gold market cap in 4-5 months.

I was never around for the .com stock market crash but I'm willing to bet it went pretty similar. Every stock with a fresh new website was seeing monster returns. I think Bitcoin is here to stay but for the other 90% of alt coins, its acting exactly like the .com market crash. Almost every single alt coin has rallied to some ridiculous return, and most of them are vaporware. You're also not getting equity or stock from the companies coin you're investing in, you're only getting crypto coins. Its chaos and people are buying every coin with a name. I don't think this will last long, so if you do trade altcoins, I would always have an exit strategy lined up and ready to go. I also recommend buying back into Bitcoin with your alt coin gains once in a while when Bitcoin has a negative run. Continue to grow your Bitcoin stash is the ultimate goal :)

Re: making money trading/holding alt coins
 

I still don't understand why people are still holding bitcoin. It was introduced as a currency. It was made to buy and sell stuff with it and not as a financial investment. With these fees and extremely slow transactions its not a payment instrument anymore, while ETH and others still are. So if they don't find a way to lower the fees, I am guessing very soon people will realize that their BTC are pretty much worthless at this stage, because other payment methods are faster and cheaper.

For that reason I'm not so sure weather BTC is here to stay and invested everything in altcoins.

Re: making money trading/holding alt coins
 

@elmo - I actually agree with a lot of what you said

Though how are you ascertaining whether a coin is a scam or not?

Re: making money trading/holding alt coins
 

By the same logic Gold should be useless and used as paperweights even though it used to be traded as currency - and not all that long ago in historical terms.

Re: making money trading/holding alt coins
 

I’m just looking at the team / history / community of the coins. I wouldn’t recommend buying into a hyped ICO, those are just plain too risky. I wouldn’t even recommend buying into Ripple due to premine it had, and the crazy pump it had from the Korean exchange Bithumb. I stay away from premined coins and coins that have shady people backing them (such as BCash). But coins such as ETH will continue to grow as long as bitcoin continues to grow, the difference being the market cap is smaller so it has a higher chance of giving you bigger returns.

The further down you go on the list of the top 100 coins, the higher the risk goes (typically). But if you look into coins such as Lisk and OMG, they have a solid team behind them. Nothing shady behind them. As long as they’re working towards something, I would brand these types of coins relatively safe and they should continue to exponentially grow as long as Bitcoin continues to grow. If you’re betting on bitcoin like i am, then most solid coins should continue to grow along side.

I initially started trading alt coins at 10% of my bitcoin holdings. That initial 10% has turned into 45% of my total holdings based on the values the alt coins have gone up, without me having to invest more money. The growth is significantly larger than Bitcoin, but so is the risk. As long as you’re picking safe and solid coins (to the best of your ability) and you got a solid exit strategy setup to exchange alts back to BTC, I think you’ll be good to go.

It feels like this is the time to be making some serious cash on these overly hyped and speculative markets :typing:

It’s bubblicious mayhem

Re: making money trading/holding alt coins
 

Indeed, I thought about gold as well. However if you buy gold or sell gold you don't have to come up with tremendous fees for doing so. Also gold has been established a few years longer. This "Bitcoin is the Gold of Cryptos" thing has started since the price and its fees rose to the sky.:juggle:

Re: making money trading/holding alt coins
 

elmo, good informative post!!

What's your take on LiteCoin, should I keep it or sell it? I can't really see it rising, after Charlie Lee sold his LiteCoins

Re: making money trading/holding alt coins
 

I don't think you'll see explosive gains in Litecoin for the near future. But its definitely on the safer buy as long as you are betting Bitcoin will continue to rise. Who knows though, it doesn't hurt to hold several safe coins in case they do rally.

I think the safest coin with the best balance of potential gains at the moment is Ethereum. Most hardware wallets can store it which makes it convenient.

The Koreans are currently paying $1800 per ETH on Bithumb: https://coinmarketcap.com/currencies/ethereum/#markets

I've been using them as an indicator of potential growth for the past few months and its been working pretty well.

Do your own due diligence though!

I can’t see LiteCoin going up much, it’s stagnant and the highest it’s ever been is around the $300 mark, then it’s dropped ever since Charlie Lee, sold his Lite Coins. Technology wise Ether is more superior and even BitCoin uses some aspect of Ether technology.

Ether will deffo go up in price, so will BIt Coin Cash once it’s live on Coinbase.

BitCoin at moment is too expensive to buy, waiting for it to drop to $1000 or lower.

Re: making money trading/holding alt coins
 

Bitcoin and Litecoin are pretty much the same thing :)

Litecoin was literally a copy and paste of Bitcoin - Literally.

Re: making money trading/holding alt coins
 

Pretty much everything is higher priced on bithumb or am I wrong?

Re: making money trading/holding alt coins
 

A lot of the scam coins and small cap coins have gone on a nice run since coinsmarkets has shut down. I saw my holdings go up 300% since they've gone down the last 10 days although all my coins are stuck there.

Binance has open registrations most of the day until they fill their 250k/day quota. They're double the second largest exchange by volume.

Re: making money trading/holding alt coins
 

Where do you all read up on alt coins? Why didn't coinbase tell us about GDAX? Why did it take for me to find out about GDAX on this forum? Is it truly fee free?

Re: making money trading/holding alt coins
 

cryptocurrencies are hilarious....this one asian guy made like 500k from tron trade......showing he had 62.5 bitcoin at the time of his tron sale......and bitcoin being i believe 16k......so he claims he made a million dollars.....

I bet he did not immediately cash out all of his 62.5 bitcoin at 16k......the price now is at 10-11k that means he lost 300-400k when bitcoin dropped off a cliff.......

Re: making money trading/holding alt coins
 

Won't be too long until its back up there

Re: making money trading/holding alt coins
 

I agree with you on this one 110%. Some old people cannot see the future...
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Re: making money trading/holding alt coins
 

The unconfirmed transactions is down from 110k to 62k. It's speeding up/catching up as we speak. I wouldn't say BTC is done for yet. You won't see 10 20 30 fold of your investment with btc anytime soon but I wouldn't say its stupid to have money in it. I'm sure we're going to go back to this thread in a few months and BTC is going to be at 20-50k.

Re: making money trading/holding alt coins
 

And on it goes if it is only held...

Re: making money trading/holding alt coins
 

https://steemit.com/crypto/@edb/dead...e-than-bitcoin

https://steemitimages.com/0x0/https:...om/KouQy8G.png

Re: making money trading/holding alt coins
 

@duffrageous, which of the ones on this list have you profited on?

Re: making money trading/holding alt coins
 

Someone on here claimed HE made a million

:violin:

Re: making money trading/holding alt coins
 

if you guys are looking to make a lot of money. I can give you the contact information to my financial advisor carlos from bitconnect. because of him i made a nice -10000% return on my money within 1 hour.

https://thumbs.gfycat.com/DelayedSil...restricted.gif

Re: making money trading/holding alt coins
 

I bought some Redd at 17 sat and sold at 32 sat a couple days later. I bought back in at 69 sat, rode it up to 88 sat and back down to 69 sat and sold it 3 days after that. Next morning, Mcafee pumps it up to 196 sat. If I just held, I would have made 10btc profit.

These last few days I'm checking out small coins that have mooned out of nowhere just from hitting coinmarketcap. You can follow them here and buy the dips and then get out if you'd like. I totally missed Jesus Coin the last two days because I had to run some errands and forgot to check this link:

https://coinmarketcap.com/new/

Re: making money trading/holding alt coins
 

Nice duffrageous, what's your strategy for picking coins?
Do you start from new coins on coinmarketcap or follow twitter?

Re: making money trading/holding alt coins
 

Pretend you're in a pump riding high and wait for that moment when it looks like everything is dumping. You usually get another mini bounce after that. This is a good coin today to look at the bounces. The goal is to just make money off the people holding right now because these alt highs don't last in this bear market.

https://coinmarketcap.com/currencies/encrypgen/#charts

You risk losing it all of course but usually you get a good bounce when a coin that pumps is dumping.

I lost around 2 btc on ZCL today. I wanted to get out pres-snapshot, but bittrex closed trading a half hour before as promised. I couldn't execute my sell on bittrex because I was on my phone when the market reopened and had mistimed the dump price. I had a sell set for .008(snapshot taken at .009btc), but I clicked 15 seconds too early on my sell order before the market opened. I got the alert from bittrexexchange twitter that the market had reopened, but they sent the alert out about 30 seconds before it actually did. So I reread the tweet to see if it said anything I missed and when I looked at my phone again, the market was already dropping to .007 when I hit sell. I canceled the sell order at the top, but it still appeared in the order book, so I had to scroll down to cancel it there. Thirty seconds later the price was .004, so I just gave up. It ended up dropping all the way to .001 a minute later. That would have been the perfect buying opportunity, maybe even at .0015 or .002. It got a bounce back to like .0038, but i held too long and sold at .003 and then reloaded on cryptopia for .0015, but it hasn't broken that resistance point yet. My only hope now is for zcl to recover to like $50, and btcp to get to $50. I think the latter can happen, but zcl is done unless new devs decide to work on it. It hasn't even been updated with the same wallet support as zcash.

Re: making money trading/holding alt coins
 

21.3k USD?

Re: making money trading/holding alt coins
 

The way these sh1tty exchanges work you cant wait to the last minute. Servers crash, deposits get lost, they get DOSed , or they just do what ever they feel like doing.. This isnt Forex.... If you lost 20k I'm truely sorry, there isnt a word strong enough to describe how f&cked up that is.

I may be making a big mistake but I gave up on sh1t coins and sh1tty exchanges all together. I'm just stock piling ETH and BTC after I lost 3 deposits on Poloniex. I was lucky enough to get 2 Pascal deposits back, but Poloniex hasnt answered my support ticket about my missing SIA Coin in 2 months.

https://image.ibb.co/mbEGfx/Screensh...8_27_46_AM.png

Re: making money trading/holding alt coins
 

Fork of a Fork: 'Bitcoin Private' Is Here, But What's It Worth?

"Specifically, what bitcoin private is implementing - or, rather, reinstating - is zcash's "founder's fee," a line of code that allocates 20 percent of the cryptocurrency generated by mining to the zcash development team."

If I would have knowen Rhett was reinstating the Dev Tax on Bitcoin Private I would talked SOOO much more trash..... The only good thing Zclassic had going for it was Rhett took the Dev Tax out of Zcash's code.

What a sh1t show....

https://www.coindesk.com/forking-for...h-whats-worth/

Re: making money trading/holding alt coins
 

I'm with you on alt-coins. The phenomena is done and I think the scam alerts are out.

57% of ICO's fail within a year. Its a get rich quick scheme. I sold most of them at our last little ride up and made back after the bottom.

Right now, I am literally only doing bitcoin. I am trading on daily chart so I don't feel rushed. Tone Vays helped me a lot with reading charts... Plus, a few others.

At this moment I don't even hold BTC and I have a buy set up around 7k in case of another big dip. I missed this last bullish run to 11k or so.

Re: making money trading/holding alt coins
 

I had a hard time sleeping the night before the ZCL snapshot on bittrex. I was thinking about moving my last .5 btc into ZCL on the dip on bittrex firmly believing they would succumb to the pressure and support the forked coin because it had the majority of the volume although cryptopia had around 25% of the bittrex volume that night. ZCL was trading around .008 btc on bittrex but .011 on cryptopia, so I added another .5 btc to my 1 btc stake. I really wanted to add my last .5 btc, but I saved it for binance.

Bittrex announced support for the btcp snapshot, so the price pumped all the way up to .0105. I knew there was gonna be a dip, but I decided not to sell 1 btc since that would leave me with less than half. If i had moved that other .5 btc in, I would have sold half and bought back in on the dip, but that would have only netted me around .1 btc. But I like selling half during pumps as it gets you in the habit of selling peaks and buying dips instead of holding everything thinking this time is the mega pump. The price was .0092 when I went to sleep. When I woke up, I really wanted to sell half but the price had dipped all the way to .0085. It peaked around 5 AM ET, but I was still sleeping. Now my only hope was to sell immediately after the bittrex snapshot.

I had my sell set at .008, about 10% under the snapshot price waiting for the market to open. I was on my phone watching the market waiting for the page to change. I got a twitter alert from bittrexexchange a few minutes after the snapshot. I figured this was the alert saying trading was open, so I hit sell, but the "market not active" message popped up. I went back to my twitter to reread this tweet. Sure, enough, the market was open. https://twitter.com/BittrexExchange/...96288296116224

I looked back at the market and saw the price crashing from .008 to .006, so I hit sell, but my sell was way above market at this point. I didn't have time to cancel the sell order and then reenter the proper price as the market was now .004 before bottoming out at .001 a few seconds later. My heart stopped beating for a couple seconds knowing this was my worst nightmare. The market bounced back to .0038 a few minutes later before settling around .003 at which point I sold my 160 zcl. I tried to transfer into tradesatoshi to buy at .001, but by the time my transfers went through, the market was back to .0022. I bought about .35 btc at that price and added .35 btc more at .0014 on cryptopia even though it was still dipping. The price was hanging around .002 on bittrex and .001 on the other exchanges for a day when I got a break.

Bittrex had reopened the zcl wallet enabling me to transfer my 300 zcl from tradesatoshi over to bittrex to sell at .0015 for a 50% gain. The trading bots accidentally picked up the bittrex tweet and pumped zcl up 10% in error but swiftly corrected that as the price continued to dump. Two hours later, my zcl arrived with the price at .00119. I made sure there was a buy order big enough and hit sell at .00118. Suddenly, the buy orders disappeared, and it was trading at .00112. I canceled my sell and refused to sell at that price. About a half hour later, it was down to .0008. Any way, i'm still bag holding waiting for the new zcl team to take over the project.

BTCP should open around .005, but you can probably get it cheap if you set your buy at .002 on kucoin and sell at .010 in a few hours. It should flatline around .005 before slowly gaining favor and level off at .020 after a few days, but it also depends on how btc is doing.

Re: making money trading/holding alt coins
 

ZCL is on the way up again thanks to a number of factors I don't fully understand:

a)new team reviving ZCL project
b)massive dump that was bound to recovery at least partway if you follow the fibbonaci retracement at .38.
c)BTCP being traded by early whales around .025btc/piece.

https://www.kucoin.com/#/trade.pro/BTCP-BTC
https://www.reddit.com/r/ZClassic/co...el_resistance/
https://bittrex.com/Market/Index?MarketName=BTC-ZCL

Re: making money trading/holding alt coins
 

I made this thread back during a somewhat bullish time period -- right now almost all significant alt coins have gone down 40-90%.

Luckily by chance I converted back to BTC and sold for fiat before the bear market began. I didn't sell at the very top, but I did avoid the crazy downswing we're currently in. Hard to say if this downtrend is going to continue... But probably is a realistic assumption for the short term future.

Right now seems like a great opportunity to allocate a small higher risk position into some of these safer alt coins. Most are currently discounted, and some are trading at their all time lows.

I'm not saying to buy any of these below, but if you're interested in dipping your toes into the altcoin scene, look into them on your spare time, I consider them on the safer side. Outside of these coins, I wouldn't recommend anything else. I'm sure there are some other solid/safer coins out there but these are the only ones I feel comfortable with. There are so many scammy/shady coins out there, just be extremely cautious and research anything thoroughly before you buy.

Somewhat safer alt coins: ETH, LTC, NEO, XMR, VEN, LISK, OMG, WTC, VTC, ARK, BNB

Higher risk / potential higher reward: NANO, ICON

IMO the idea is to keep growing your BTC stash to hold long term.

I wouldn't hold any of these altcoins long term aside from BTC/ETH/LTC.

Re: making money trading/holding alt coins
 

I initially started trading alt coins at 10% of my bitcoin holdings. That initial 10% has turned into 45% of my total holdings based on the values the alt coins have gone up, without me having to invest more money. The growth is significantly larger than Bitcoin, but so is the risk. As long as you’re picking safe and solid coins (to the best of your ability) and you got a solid exit strategy setup to exchange alts back to BTC, I think you’ll be good to go.

Re: making money trading/holding alt coins
 

PM him and wait - pm moderator (purple name).

http://www.aspkin.com/forums/amazon/...s-anymore.html