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RE: WE ALREADY DID BITCOIN, NOW FOR A LOOK AT THE LITECOIN BOUNCE ZONE

in #cryptocurrency7 years ago

Thanks for taking the time to reply with your story :) Appreciated!

I hold BTC and ETH alongside my portfolio of alts simply for diversification and risk management reasons. Because Bitcoin has the name, it is used as a store of value as well as an investment in it as a cryptocurrency. When money flows out of alts, it tends to go into Bitcoin and vica versa.

While the technology will be surpassed by other coins, don't discount Bitcoin. It's the one people know, and will always be the entry point for new money coming into the crypto space.

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Thank you, @forexbrokr - appreciate your comments, always, and thank you for replying. I take note of your comments. Agree about BTC and Ether, too, as coins to use as an entry point to other cryptocurrency. There is a smart exchange - coinspot - operating in Australia, that allows purchase of multiple coins using fiat. It is expensive because it hedges the currency exchange rate and this is reflected in the fees charged, but ultra convenient - and I rarely use BTC/Ether for purchasing. Lazy - but reflects real world practice for novices.