Topic: Different type of altcoins have their season which attract scammers be watchful (Read 826 times)

well of course investors also want to earn profit from thier investment and they see it as a fastest way to earn . But sadly what they expect is not  happen its only work in 2017 when all of the ICO boom and more people earn huge profit for investing in it. Since people earn they used that popularity and make thier own and thats what many scam project started.

The main reason why each of those coins season attract scammers is because Investors become very gullible and are ready to invest in anything they see that seems similar to other previous profitable project. When the very first lending coins was a success others started believing in lending project so scammers saw an opportunity to scam Investors of their fund by simply started on their website their project is based on lending. The issue with this seasonal coins is that they're usually just short term success and become a big failure so it'll be advisable we abstain from investing in them totally.

The market right now is indeed not encouraging for many investors.

But with the low prices of cryptocurrencies right now, it might be the best days to buy and start investing.

And in the midst of changing trends as the year changes, the one who can adapt the best will surely survive. We cannot always outdown the market but we could reduce the loses by carefully selecting which we should only invest to. I am not fan of multiple investments anymore for I experienced mistakes of my own. Other strategies can also work too as long as you understand and accept the risks it bare.

Furthermore, scammers are smart right now, and will appear to be legit as much as possible.

So, never jump again to something you do not fully see or understand. Measure the fall and calculate the risk so you can hope for the best.

The altcoin market is a very interesting market when it's operating at its best. When it comes to investing in them just to increase your chances of accumulating more bitcoin or short term investment, you have to understand there's a season for every type of coin. During the 2017 altcoins bull market I observe some interesting trends concerning how the market (altcoins) react which might be of use or serve as a guideline for future market and help prevent you from falling victims to fraudsters and scam projects.

We can't denied the fact the market is still been influence by emotions which you could profit from, that's if you understand how it works. Each type of altcoins had it's season, there was a time only lending tokens were mostly benefiting from the market via price appreciation. Sane with staking/masternode projects as they also had their share of the market. If you were paying close attention to the market you would had observe more and more type of projects based on trending Ideas starter popping up during their season meaning, scammers starts disguising themselves as startups to launch new worthless project just to scam innocent Investors of their funds.

Same observation happened when projects paying dividends started trending, same with projects crowdfunding through Selfdrop instead of ICO, privacy coins also had similar fate etc. Although the current situation of the market isn't encouraging, you still have to be very watchful as this trend could repeat itself at any given time. Understand that scammers are always active looking for new way to scam investors of their funds. When there's a new trend, always be watchful as the chances of getting scammed through that method becomes high. Invest wisely.

That is why we will not be able to completely get rid of scammers. After all, where there is money, there will always be those who want to steal them from other people.

That's why i said the appropriate word to use is failed project and not scam projects,

I have read stories of projects returning the fund of ICO Investors back to them or buy back the tokens when their plans towards the project couldn't be achieved.

The market is a very competitive one and when you don't have the funds or marketing team to compete, hardly before your project will get notice irrespective of how genuine it's which might result to such project failing that doesn't mean it was a scam.

The first strategy of a scammers is how to attract investors by any means necessary, this is why i don't put interest in high rated projects from websites like icobench or icodrops, they are paid to get such high ranks on the websites, apart from been a full time bounty hunter if i have any penny to invest in coins i will go for old projects

This is normal, any good ideas that new projects uses and turn out well will be use by scammers for sure, its left for investors to remain smartass to avoid falling for such scheme, scammers are very good at copying from other good projects

I totally agree with OP's thinking. All have their own seasons like ICO used to be very popular, but now it's not, now is IEO's season. We need to realize that cryptocurrency still has great opportunities to develop. The more people adopt it, the more ways there are to get it. Recently, quite popular is getting cryptocurrency just by playing games and watching videos, it's easy, right? Unfortunately, fraudsters also always follow this trend, they use various methods to fool ordinary people.

That's why i said the appropriate word to use is failed project and not scam projects, I have read stories of projects returning the fund of ICO Investors back to them or buy back the tokens when their plans towards the project couldn't be achieved. The market is a very competitive one and when you don't have the funds or marketing team to compete, hardly before your project will get notice irrespective of how genuine it's which might result to such project failing that doesn't mean it was a scam.

We cannot blame the team if they won't be able to distribute rewards since it's on the rules that if they did not reach the softcap there will be no rewards. With  regards with what OP said, I don't really believe on altcoin season because anytime will be good time for any new projects as long as they are unique with a solid plans and have a better marketing strategies to ignore the current bear market.

All have their own seasons like ICO used to be very popular, but now it's not, now is IEO's season.

We need to realize that cryptocurrency still has great opportunities to develop. The more people adopt it, the more ways there are to get it. Recently, quite popular is getting cryptocurrency just by playing games and watching videos, it's easy, right? Unfortunately, fraudsters also always follow this trend, they use various methods to fool ordinary people.

This is normal, any good ideas that new projects uses and turn out well will be use by scammers for sure, its left for investors to remain smartass to avoid falling for such scheme, scammers are very good at copying from other good projects

This is why I am quite always surprised when I see people say that the cryptocurrency market follows circle when they all have different factors that has been controlling them and like some of the things we have here, in 2017, we could see that it was the ico that helped the market to boom, but where is the ico again now?

We need more factors that will still come in like that of 2017 to elevate some of these coins, and moreover, most of these projects came with different purposes that are not tied to each other so they should naturally be independent of each other's factors and if they have real use case, they should all have their own separate season, which is why I tend to study a project very well before investing in it, look at harmony, despite all the bear market, they still had their own increase, so I agree with you that all altcoins have different season.

I would use the phrase failed project because that's what is mostly happening.

Some of this project aren't scam but they can't compete in this current market condition so they lose interest from Investors which drives the price of tokens down since current Investors are wanting to sell thereby pushing the price down. The bear market isn't a favourable condition for projects to progress although it's the best time to identify worthy projects to invest in.