Does altcoins actually have the potentials of generating benefits to investors?

Victorik

member

Activity: 994

Merit: 14

Quote from: Sunrise360 on August 31, 2022, 09:09:48 AM

As a beginner into the trading business, I'm always scared of putting my money into altcoins but I do hear some people talk about how they make profits altcoins.

So I decided to come here to seek the views of experienced traders on the potentials of altcoins.

Yes they do. Many have made a fortune from trading altcoins and some have also lost a fortune trading altcoins.
So I'd advise you tread very carefully, there are a lot of scam out there parading themselves as the next big thing in crypto, invest without proper investigation and lose your money.

Margaretv

newbie

Activity: 6

Merit: 0

Quote from: Sunrise360 on August 31, 2022, 09:09:48 AM

As a beginner into the trading business, I'm always scared of putting my money into altcoins but I do hear some people talk about how they make profits altcoins.

So I decided to come here to seek the views of experienced traders on the potentials of altcoins.

It has been nearly 5 months since you posted the post, I would like to know what is your situation now? Is the mental state okay? As a novice, working 7*24 hours will make people feel very tired, especially in the second half of this year, the market has fallen very sharply. I wonder what altcoins you chose? Do you make contracts on a centralized exchange? If so, you have entered a dangerous situation.

Marcorey

jr. member

Activity: 50

Merit: 2

Altcoins can provide great returns to investors. Some altcoins have already delivered decent returns to their holders. If you have enough experience to choose and invest in potential currencies, you can make profits in a short period of time. There are also many scam projects in the crypto market, so choose your own.

dezoel

legendary

Activity: 2044

Merit: 1075

Leading Crypto Sports Betting & Casino Platform

Having some staking that works for you would be the dream come true. Imagine having a situation where you make 10% yearly and it's guaranteed, and then you put 10% of your salary in there every month as well, which means that 10% you make grows bigger and bigger, while also the price of the coin grows each year as well.

Eventually you will end up with making some sort of profit and yields will be so huge that you could live off that as well. That's the dream, having an asset that goes up, will paying for your living costs at the same time. Houses are great investments because of this and it's true for all over the world, not just one nation neither.

ningrum

full member

Activity: 1610

Merit: 103

The OGz Club

Quote from: fzkto on January 04, 2023, 11:19:05 AM

Quote from: nidacoinlove on January 04, 2023, 08:35:32 AM

Quote from: fzkto on January 04, 2023, 06:45:13 AM

Quote from: Terezi on January 04, 2023, 02:45:24 AM

Quote from: Sunrise360 on August 31, 2022, 09:09:48 AM

As a beginner into the trading business, I'm always scared of putting my money into altcoins but I do hear some people talk about how they make profits altcoins.

So I decided to come here to seek the views of experienced traders on the potentials of altcoins.

Altcoins can indeed bring benefits to investors. Most altcoins were profitable at first, but over time there were many altcoins that could not survive the bear market, most only in the short term. Be more vigilant and patiently analyze and research when investing in new altcoins to avoid more losses.

Buying altcoins during a bear market and selling them during a bull market can be a good strategy for investors. The main thing is to choose new altcoins every new market phase, because old coins die more often. And it is better not to get attached to such projects. Sell and forget. That way you can minimize the risk of losing money.

It's not just buying in a bearish market, one needs to seek for potential alts that could make it through the bearish as well. With every coming day things get refined and new features are added to the alts. Therefore, it is must to go through the white paper and also to see the credibility of the technical team behind the project.

I absolutely agree with you that you need to spend a lot of time to research the project you are interested in in order to avoid scams. But as practice shows, even reliable projects can go bankrupt, such as the recent story with TERRA LUNA. So you can never put all your eggs in one basket and you should always diversify risks.

True besides that sometimes some people are impatient in the process and of course it's very unfortunate,
putting eggs in just one basket will make the risk even greater and it is not recommended,
with risk diversification at least it minimizes risk

Derrickiell

newbie

Activity: 28

Merit: 2

Altcoins can bring economic benefits to investors, but you should choose potential altcoins through your own understanding. The risk of altcoins is greater, and most of them are profitable at the beginning, but they will gradually disappear. There are more and more altcoin projects in the market, most of which are hype and scams, so you must be careful when choosing to invest.

so98nn

hero member

Activity: 2114

Merit: 603

This does not work same for everyone. There are good investors with plans and strategies which are making them millionaires just by investing their money on alts. Obviously we keep suggesting that Do not invest money in alts because they are weak hands. However, have you ever noticed the volume that goes into alts? For that matter consider the oldest alts and those in the top 100. They are doing great, they are around bitcoin as the same age of it and making good returns for traders. May be it’s about how you make investment and not just the random investments and hopes for mega returns.

Rodriguezan

jr. member

Activity: 50

Merit: 1

Personally, I think altcoins having the full potentials to making investors financially free.

Sterbens

sr. member

Activity: 1848

Merit: 341

Duelbits.com

Quote from: lobo13hf on January 04, 2023, 11:22:19 AM

definitely not all the altcoins could ever give benefits, it works just like other investments, the relatively low valued and volatile coins that is the altcoins could always gives tremendous benefits but at the end of the day that truly delivers are just very few of them. therefore they have potential, but still need to see their growth in knowing whether your investments could brings profit and benefits to you.

True, of the many altcoins, only a few of them provide benefits for their holders. It will be very difficult to determine which altcoin is good for us to invest. It requires deeper analysis, and even if we do that sometimes it doesn't go as we expect. I've often come across coins with great projects supported by large communities that end up being disappointed or even perceived as fraudulent projects.
When talking about altcoins, sometimes luck is also a factor that will determine whether we are profitable or not. Coins deemed to have no potential sometimes take surprising steps.

lobo13hf

hero member

Activity: 2268

Merit: 507

definitely not all the altcoins could ever give benefits, it works just like other investments, the relatively low valued and volatile coins that is the altcoins could always gives tremendous benefits but at the end of the day that truly delivers are just very few of them. therefore they have potential, but still need to see their growth in knowing whether your investments could brings profit and benefits to you.

fzkto

sr. member

Activity: 2282

Merit: 439

Cashback 15%

Quote from: nidacoinlove on January 04, 2023, 08:35:32 AM

Quote from: fzkto on January 04, 2023, 06:45:13 AM

Quote from: Terezi on January 04, 2023, 02:45:24 AM

Quote from: Sunrise360 on August 31, 2022, 09:09:48 AM

As a beginner into the trading business, I'm always scared of putting my money into altcoins but I do hear some people talk about how they make profits altcoins.

So I decided to come here to seek the views of experienced traders on the potentials of altcoins.

Altcoins can indeed bring benefits to investors. Most altcoins were profitable at first, but over time there were many altcoins that could not survive the bear market, most only in the short term. Be more vigilant and patiently analyze and research when investing in new altcoins to avoid more losses.

Buying altcoins during a bear market and selling them during a bull market can be a good strategy for investors. The main thing is to choose new altcoins every new market phase, because old coins die more often. And it is better not to get attached to such projects. Sell and forget. That way you can minimize the risk of losing money.

It's not just buying in a bearish market, one needs to seek for potential alts that could make it through the bearish as well. With every coming day things get refined and new features are added to the alts. Therefore, it is must to go through the white paper and also to see the credibility of the technical team behind the project.

I absolutely agree with you that you need to spend a lot of time to research the project you are interested in in order to avoid scams. But as practice shows, even reliable projects can go bankrupt, such as the recent story with TERRA LUNA. So you can never put all your eggs in one basket and you should always diversify risks.

nidacoinlove

sr. member

Activity: 588

Merit: 254

Quote from: fzkto on January 04, 2023, 06:45:13 AM

Quote from: Terezi on January 04, 2023, 02:45:24 AM

Quote from: Sunrise360 on August 31, 2022, 09:09:48 AM

As a beginner into the trading business, I'm always scared of putting my money into altcoins but I do hear some people talk about how they make profits altcoins.

So I decided to come here to seek the views of experienced traders on the potentials of altcoins.

Altcoins can indeed bring benefits to investors. Most altcoins were profitable at first, but over time there were many altcoins that could not survive the bear market, most only in the short term. Be more vigilant and patiently analyze and research when investing in new altcoins to avoid more losses.

Buying altcoins during a bear market and selling them during a bull market can be a good strategy for investors. The main thing is to choose new altcoins every new market phase, because old coins die more often. And it is better not to get attached to such projects. Sell and forget. That way you can minimize the risk of losing money.

It's not just buying in a bearish market, one needs to seek for potential alts that could make it through the bearish as well. With every coming day things get refined and new features are added to the alts. Therefore, it is must to go through the white paper and also to see the credibility of the technical team behind the project.

fzkto

sr. member

Activity: 2282

Merit: 439

Cashback 15%

Quote from: Terezi on January 04, 2023, 02:45:24 AM

Quote from: Sunrise360 on August 31, 2022, 09:09:48 AM

As a beginner into the trading business, I'm always scared of putting my money into altcoins but I do hear some people talk about how they make profits altcoins.

So I decided to come here to seek the views of experienced traders on the potentials of altcoins.

Altcoins can indeed bring benefits to investors. Most altcoins were profitable at first, but over time there were many altcoins that could not survive the bear market, most only in the short term. Be more vigilant and patiently analyze and research when investing in new altcoins to avoid more losses.

Buying altcoins during a bear market and selling them during a bull market can be a good strategy for investors. The main thing is to choose new altcoins every new market phase, because old coins die more often. And it is better not to get attached to such projects. Sell and forget. That way you can minimize the risk of losing money.

Terezi

newbie

Activity: 16

Merit: 0

Quote from: Sunrise360 on August 31, 2022, 09:09:48 AM

As a beginner into the trading business, I'm always scared of putting my money into altcoins but I do hear some people talk about how they make profits altcoins.

So I decided to come here to seek the views of experienced traders on the potentials of altcoins.

Altcoins can indeed bring benefits to investors. Most altcoins were profitable at first, but over time there were many altcoins that could not survive the bear market, most only in the short term. Be more vigilant and patiently analyze and research when investing in new altcoins to avoid more losses.

My ThuiHa

newbie

Activity: 42

Merit: 0

Bitcoin is a long-term investment option among cryptocurrencies. Gaining profits in the short term is still through altcoins. Although I am not a day trader, I still keep an eye on the market from time to time. The ups and downs of altcoins are greater than that of Bitcoin. It is suitable for you to trade within the range. I think newcomers should observe the market more, and invest a small amount to feel the market.

zeuner

member

Activity: 189

Merit: 16

Quote from: TheUltraElite on September 01, 2022, 06:28:36 AM

Quote from: Sunrise360 on September 01, 2022, 06:24:09 AM

I always feel satisfied each time I ask questions here. Before now I didn't know that other big cryptocurrencies like ETH and BNB still fall under altcoins. I'm really gaining a lot of knowledge here as it has to do with cryptocurrency and trading. I appreciate everyone of you. Love you all.

Any coin other than bitcoin is an altcoin. With more coins coming in view, people think that the top few coins are the real while the others are alts.

It is not that all of these coins are worthless, rather it is difficult to actually see which ones are worth investing in. If you are into altcoins try to stay with those top 5 and not with th scum that comes up every day. Because in the long run only the top coins will be the profitmakers.

In the short term it might seem thatyou are missing out on many of these coins. This is not the true case because short term gains happen with many altcoins but carry an equal or higher risk compared to bitcoin. It would be difficult for one to judge the long term coin on any specific coin but for Bitcoin it is always good.

One problem today (when compared to the time when the first altcoins were started) is that new altcoins are almost bound to avoid PoW because it's almost impossible to start with enough mining power in order to avoid 51% attacks. This puts limits on what new altcoins can achieve as long as no one invents a real replacement for PoW.

alik111

member

Activity: 362

Merit: 12

To make profits from altcoins traders should have proper knowledge about analysing any altcoins. There are many top altcoins which have the potential of generating benefits of investors. That's why you have to select gems for the investment.

SquallLeonhart

legendary

Activity: 2464

Merit: 1102

Quote from: |MINER| on December 06, 2022, 04:21:58 PM

I want to mention that Alt-coin is now high risky for investment whether it's for long-term or short-term. The market is in such a bad state right now that anything can happen, so I would advise you to refrain from investing in any kind of alt-coin right now. And currently, the new coins can't survive in this situation or they are scams, so if you have to hold or invest, I suggest you to suck bitcoin. However, it is better to use lazy funds to invest.

Another thing we need to realize is that true decentralized ones will not be controlled and that means only we are in charge. Sure there are plenty of project with devs at the top who can do whatever they want, even as high as BNB where we could see CZ do whatever he wants, but the real decentralized ones where even the dev can't do anything, means that it's only us in charge, so we could make it go up, and nothing in the world could ruin our fun there and only we would sell it o make it go down.

Obviously that sometimes happens, look at the bitcoin price for the past 1 year and how it dropped, we know that it's decentralized and still went down, but that's a good buying chance.

Mr. Magkaisa

sr. member

Activity: 938

Merit: 303

- It depends on the altcoins and how they will run in this industry, it's hard to invest in altcoins because you're just carried away by their hype and what their communities say. You should do your research here, and you should also know how to recognize if an altcoin is legitimate or not.

That's why most people here in the forum always say "Do your research" because it's important and it's also for the money we're going to put out so that it's not wasted and instead has a good profit in the future.

evichi

jr. member

Activity: 1330

Merit: 7

In my opinion, altcoins have some potentials of generating profit for investors, but the big question is: which altcoin(s)? Coins like BNB, ETH are all altcoins that have benefited especially the early investors. To invest in any altcoin, you need to conduct detailed study/research on the altcoin in question. IMO, some of the things to look out for to determine which altcoin have a future potential are: Who are those behind the altcoin? and what is there reputation and experience?, What is the usefulness of the altcoin to the crypto space? How about the token economics? and many more things you have to study/research. You have to carry out detailed study about the altcoin. Secondly, only invest the money you can afford to loose. As you are already scared of putting your money in altcoins, then it means you should not invest the funds for now. You have to invest only the money you will not be scared to loose. Thirdly, don't put all your eggs in one basket. As you have heard of the major bad news in the crypto space this year, the UST/LUNA crash and the FTX collapse which people lost a lot of money - is a lesson that investing in crypto space is a high risk investment because you may loose your funds ... and may never recover it.

Topic: Does altcoins actually have the potentials of generating benefits to investors? (Read 1550 times)