Does altcoins actually have the potentials of generating benefits to investors? - page 4.

Blawpaw

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Quote from: Sunrise360 on August 31, 2022, 10:09:48 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.

Investing in altcoins can be a little bit like gambling. The best thing to do when investing in Altcoins, is to do your own homework and research each project before putting any money in. Apart from this, you should always decide how much you are willing to risk and always have a % profit goal. Once it hits the mark, you will need to know how to walk out without ever looking back. Even so, I guess its better to just sit on Bitcoin...

KennyR

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Altcoins always have the potential, if not we couldn't have such a big number of altcoins in the market when bitcoin as the leader able to perform way better than altcoins. When we talk of alternative, we've got a big list with varied purpose and development. For example defi tokens, gaming tokens, NFTs and it counts. We should have the learning to analyse and invest on the right ones. The risk is high, which is the only problem with these altcoins away from the top list.

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Quote from: Lizzylove1 on October 27, 2022, 04:12:55 AM

My biggest loss in crypto came from altcoin. And my biggest profit in crypto came from altcoin. New altcoins entering the market is high risk and high reward. Talk about cake, bake, ubix, woof, shiba Inu, "Luna", Matic, BNB in their earliest days, these gave people massive profit and some persons lost out too. You can't be wrong with BITCOIN as a store of value, it's the king of crypto.

This simply means that we altcoin movement is way more unpredictable than Bitcoin. Though at the current stage, Altcoins have more potential to give us a huge amount of profit, the risk involved is also unfathomable. If a person doesn't want too much risk but wanted to have an above-average profit, investing in Bitcoin is the best option. But if an investor doesn't care about the possible risk then I think altcoin is the best one since altcoin can really surge in a shorter period of time.

Quote from: Captain Corporate on October 31, 2022, 03:12:24 PM

It is not an easy task to make profit from altcoins "consistently" thats the problem. I do not know if there is any situation that could be done any other way, but altocins are seasonal, which means that you can't make profit from them at all times. So all that "generating benefits to investors" things are also seasonable as well.

Depends on how informed you are in the altcoin industry. If you manage to be the first one in the line of investors then I think profit would pretty much be consistent with you.

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Quote from: jossiel on August 31, 2022, 12:22:00 PM

Quote from: Sunrise360 on August 31, 2022, 10:09:48 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, there's the potential.

But not all of them will give you that potential so be careful in choosing them. It's because too many altcoins will just give you the hype feeling but eventually, that's going to be gone and you'll never like it.

Bitcoin, altcoins, or any projects, you need to pick the best that you can base on what you know about them. You DYOR before investing your money but if you're trading, you just can look for it on exchanges, see the volume and have them spot on.

Altcoins have always the potentials to be profitable in the future but only good and established altcoins will do. Some are just too good to be true projects that will only create hype at the beginning and then eventually lose their value in the long run, so we should learn to avoid those type of projects. Also, it’s said that altcoins have bigger risks than bitcoin, but investing both into good altcoins and bitcoin will give us assurance to generate more profits in the end. No need to focus only in altcoins, reserve funds for bitcoin since it will always be the most prominent asset in the market.

Pierre 2

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I still feel like decentralized finance (defi) coins are very beneficial if markets are stable. You just add your money into pools so you generate money through commissions (we can say). If that defi altcoin is not very inflationary, and if Bitcoin stays safe and stable, you may really make quick bucks through locking your coins. But nowadays its getting lot more outdated and people are scared of getting hacked and losing their money.

Captain Corporate

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It is not an easy task to make profit from altcoins "consistently" thats the problem. I do not know if there is any situation that could be done any other way, but altocins are seasonal, which means that you can't make profit from them at all times. So all that "generating benefits to investors" things are also seasonable as well.

You could find yourself in a bull period and its not unheard of to turn 5k into 5 million, people have done it if they are lucky a few times, there are many that goes x100 easily, because its the bull run. But there are people who lost %99 during the bear crash as well, so you have to really know where you are standing. If you are looking for an up, then you should be careful about how much, if you wait too long to get even higher, you may fall instead.

FanEagle

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It has all the potential to do it, we just don't know about it yet. If you know what you are doing then you should be aware that the best thing about crypto is that it allows you to have a good wealth in the long run, not right away.

People who think that they could become rich overnight thanks to crypto are people who were lead to believe it's possible, when in fact it is not. However, that doesn't mean that you can't get super rich with it, you can still do that if you could invest accordingly and wait for decades on it. I am not going to talk about what would happen if you invested 10 years ago, that's easy, but do you really think that an investment today wouldn't be super high 10 years later? I believe it will be.

TheGreatPython

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Quote from: Liz Truss on October 26, 2022, 06:46:36 PM

As a beginner, altcoins are literally you way to finding wealth in crypto, all this major coins can't give you x100 again because they've done everything already, DYOR well and you're good to go

But 99.99 percent of those you called major coins are also an altcoin and it does not mean that if they already reach x100 they can't do it again, I've seen a lot of major alts who still can pump again. It only needs patience since it's also not easy for them to reach that kind of gains but at least they are more safer than those who were completely new on here.

Maybe once they reach that x100, they will only dump and dump with no signs of recovery. Beginners, must focus first on the one that is safe but of course not all the time it is followed. So many beginners immediately want huge profit so they go for the risky coins but most of them fail to get what they want.

Lizzylove1

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My biggest loss in crypto came from altcoin. And my biggest profit in crypto came from altcoin. New altcoins entering the market is high risk and high reward. Talk about cake, bake, ubix, woof, shiba Inu, "Luna", Matic, BNB in their earliest days, these gave people massive profit and some persons lost out too. You can't be wrong with BITCOIN as a store of value, it's the king of crypto.

Hypnosis00

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Quote from: Liz Truss on October 26, 2022, 06:46:36 PM

As a beginner, altcoins are literally you way to finding wealth in crypto, all this major coins can't give you x100 again because they've done everything already, DYOR well and you're good to go

x100, x1000...
Perhaps you are right especially when you are dealing with these hyped projects but you must be aware of the high-risk of this because at the moment you missed the hype, terrible losses and regret can be with you mate. I'm not going to stop people from doing this but of course, have to remind the risk and never have to blame crypto and say it was a scam because they decide to do this despite the awareness. If you are too lucky, then you become wealthy.

Liz Truss

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As a beginner, altcoins are literally you way to finding wealth in crypto, all this major coins can't give you x100 again because they've done everything already, DYOR well and you're good to go

Questat

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Quote from: len01 on October 26, 2022, 07:35:28 AM

Quote from: ?? on ??

I agree with your opinion, indeed from altcoins can certainly generate profits, but of course when investing in altcoins we must first know the science, yes, the point is to research what altcoin we are going to buy, because not a few people who buy altcoins experience losses, and the reason is because people are not careful when buying and most are beginners.

researching before buying and investing is very important. don't choose the wrong altcoin that causes losses in the future.
if only to get a quick profit maybe altcoin is the right one but also need to choose the right altcoin like choosing in top10 coinmarketcap. so we won't have to worry if one day the altcoin suddenly becomes a scam or throws away all of its trading volume and causes the price to be very cheap.
but if you want to invest long term i prefer btc for future profits

Yea, choosing coins for investment really matters and it was also the basis of the output of our investment. If we are looking for better results, then make ourselves decide to take potential coins also. We see investors are growing by now, which means that crypto is a profitable investment. Though some are leaving because they don't have luck here, however, many were able to stay because they believe that crypto will give them profit.

len01

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Quote from: ?? on ??

I agree with your opinion, indeed from altcoins can certainly generate profits, but of course when investing in altcoins we must first know the science, yes, the point is to research what altcoin we are going to buy, because not a few people who buy altcoins experience losses, and the reason is because people are not careful when buying and most are beginners.

researching before buying and investing is very important. don't choose the wrong altcoin that causes losses in the future.
if only to get a quick profit maybe altcoin is the right one but also need to choose the right altcoin like choosing in top10 coinmarketcap. so we won't have to worry if one day the altcoin suddenly becomes a scam or throws away all of its trading volume and causes the price to be very cheap.
but if you want to invest long term i prefer btc for future profits

Sanitough

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Quote from: tvplus006 on September 08, 2022, 06:22:40 AM

Quote from: Sunrise360 on August 31, 2022, 10:09:48 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...

You need to understand that if you have a small capital, then it does not make sense for you to invest, since this is a long-term process during which you will be able to increase your capital. In this case, the best solution would be to trade altcoins, which are more volatile and can give a profit in the short term. But in any case, you need knowledge in order not to lose your money.

Trading altcoins will only be profitable if you also go for good and reputable altcoins. Otherwise, you will fall for those too good to be true altcoins and left you losing in the end. So definitely, whether you trade in altcoins or bitcoin, the risk is always there. But if you have enough capital, then chose to trade on bitcoin since it will most likely to give you good profits at the end of the day.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Frengki_cisco on September 20, 2022, 04:19:20 AM

You have hope when investing in Altcoins, of course you have to look at the types of Altcoins, founders, teams, developments in the crypto market and so on, investing in Altcoins takes a long process for you to understand and get profits, in my opinion if you are a beginner just do long-term investments in Bitcoin & Ethreum, it's safer for you.

Without a doubt, the long term investments in well known top list coins are the safest and most rewarding but time consuming.

While this "sentiment" might be good for some investors, most people come in crypto for easy and quick gains and not time-consuming ones. This does not mean that they are bad, but just that their mindset is different and possibly they are in a money crunch and trying some risky moves. For them the downward spiral begins with buying a shitcoin and then watching it go down until it never comes back up.

My honest opinion is that dont try to get into crypto if you are in for short term gains, unless if you have insider information about advisors dumping or something else. Get in to stay for the long and get in for bitcoin.

Frengki_cisco

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Quote from: Sunrise360 on August 31, 2022, 10:09:48 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.

You have hope when investing in Altcoins, of course you have to look at the types of Altcoins, founders, teams, developments in the crypto market and so on, investing in Altcoins takes a long process for you to understand and get profits, in my opinion if you are a beginner just do long-term investments in Bitcoin & Ethreum, it's safer for you.

kojektea

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Of course, I can. but you have to be careful with some people who force you to buy coins they buy only with fake promotions without clear data. To find out how potential an altcoin is, we have to study the data first, how the project went, the fundamentals and the community. when we do the analysis ourselves, it will make us more confident than following the wishes of others.

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Quote from: Sunrise360 on August 31, 2022, 10:09:48 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.

actually there are some altcoins with low risk, and indeed there is no definite guarantee that is without risk when we invest in cryptocurrencies. I take the example of ethereum and bnb, both of which are altcoins that I think are the most worth investing in. but sometimes we want bigger profits and on new altcoins it can reach thousands of percent, and we want to have it, that's what really makes our thinking mess up, so that our greed emerges and bets most of the capital on it, where without realizing the risk is very large
actually this is just a matter of our mentality, by being able to control the psychology within us and actually it is not complicated, sometimes we ourselves make it complicated to invest, and of course financial management must be applied, as well as diversifying assets

Amokeley

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Of course, I've always bet on meta universes as the future of online communication, but the DREEM idea of maving almast every community to it is insone. And whot mokes it even more insane is that it seems to work:)

budi691

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i would not advise you to engage in trading as it requires a lot of knowledge, experience and patience, but if you really should pursue and do your own investigation. go to a website that can help you with that, or study with friends on this forum, I'm sure you can earn a lot of money in altcoins, but Bitcoin is more promising for investment

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