How do you find out cons of altcoins?

AnonBitCoiner

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Quote from: vs2014 on March 23, 2024, 01:42:05 PM

I think you can get lots of good quality tokens from cmc which will be best for investment and less risky. Moreover many tokens will drop in price in connection with the upcoming bitcoin break down so at this moment you should keep an eye on some tokens that should be waiting for a right time to buy. As i am practicing trading now most of the time because my holdings are mostly tokens i have sold with profit. I don't want to go in the direction of losing money due to which the success rate of new projects is less.

Bull runs or the times around them are never good for investing in new cryptocurrencies or new projects mostly because a lot of scam projects are launched in the market during these times and if you are always eyeing new projects for investments, you might become a victim of these scams unless you do a lot of research before you make your investments which a lot of people don't do these days as they are always in a rush.

When bull run is around, we should invest in projects that we know have the potential to perform very well during the bull run so that we don't have our invested capital wasted and get some good returns when Bitcoin starts moving up, and it's not even difficult finding such projects because a single look at a marketplace or a website such CMC can give us a general idea about the top cryptocurrencies beside Bitcoin.

oktana

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I don’t think it will really work unless you do the hard works of researching by yourself. People will only review what it’s known. So you’ll have to look up the project and do the average proper check that needs to be done. If you can, it’ll be best if you can engage in conversations in their telegram group (if any), and try to see what you’ll find out. It isn’t always easy and may take some time before the truth comes surfaces.

Reatim

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I know it’s overwhelming to do your own research sometimes.
Especially if you aren’t that fluent in computer language or math language.
But the thing is, looking at altcoins could be different for each person.
I always say that it’s highly subjective.

The potential a person sees in a coin might not be seen by another.
There’s really no guaranteed way to check who is correct and who is not.
It is all speculation and no website will ever get that right.

Dailyscript

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Quote from: God bless u on March 07, 2024, 02:00:00 PM

Don't depend upon the resources brother nowadays the market is very volatile especially when altcoins are considered. It's completely a game of luck if you want to invest in new projects. Yes you can predict the coins by seeing its relevancy related to the use case but to say something for sure is not the case.

If you have spare assets that you can absolutely afford to lose then I would recommend you to invest only rather than try to invest in Bitcoin and other well established altcoins and after getting good profits then use that profit to learn and earn.

My own consideration is that people forget to invest in short term with altcoin rather they choose to invest and hold for long just like they do for bitcoin. Which is very much risky. I have nothing against altcoin its just that i cant keep my money in it for years or 6 months. The maximum i can hold an altcoin is 3 months then am out. Although some altcoins are worth holding which is the top altcoins like BNB, SOL and ETH. Anything aside from these altcoins count me out for long term.

My opinion is memcoins, metaverse and web3 are mostly hyped coins so they should be traded and not invested on. They are likely pump and dump tokens which at anytime can go off the market.

Troytech

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Quote from: esthershaffer on March 04, 2024, 11:11:35 PM

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Without shilling any coin names, I've been eyeing some relatively newer altcoins to stake a bit in and everytime I try to find information, most of what I find is the official sources or diehard supporters which make every coin sound like the next best thing to takeover the entire market. That's obviously not true. I've tried looking through coin-specidic subreddits too but obviously the mods aren't always going to leave criticism up under the banner of FUD.

I know there was multiple focused discussions on this sub on how to do your own research, but I either can't find them, or I find the ones that are too technical about trying to calculate market cap potential and coin estimates, which does not really matter to me. Does anyone know of reliable sources that can provide unbiased overview of limitations and potential problems that a coin and their devteam is facing?

To do these research you need to be technical in some way so you would know the right points to look out for when yoir are doing your research and looking gor these alreafy made research onljne are so hard unless project is open source.

Relying on sub Reddit and social media groups are the worst cause their information is meant to make everything look like the best and trying to filter from those information would only get you lost, my advice as a beginner that have little technical knowledge just go for popular meme coins like pepe coin and try to buy when they are low than now when the bull is already on stage.

Miles2006

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What you're mistaking here is the offer these coins give, I can easily smell when something is wrong or a made up story. When something is too good to be real you should investigate more like what's with the holders regardless the testimonies you see online sometimes those testimonies are not to be trusted but it's best to make real investigation. As an investor going for a coin you must be able to identify the community strength and their next move, except the coin is a new token or else you should determine the value range like how far have this coin gone cause some coins just remain stagnant. Identifying a profitable coin is just too difficult

snowpega

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Quote from: esthershaffer on March 04, 2024, 11:11:35 PM

hmm, it should be need to check before investing in any of the altcoin projects as investing in altcoins is the very picky part which is why you have to check the pros and cons of the desired project you are going to invest. Well in my opinion there is a very rare chance you may find such a project that has all the qualities you want so that you can invest into that particular project without thinking all projects have some cons but those projects that have more pros must be considered to invest.

On the other hand, you may think about how I check the altcoin project before investing so I check if he team is actively working on the project ecosystem, project should have a strong community and actively participate in the community, is the team is collaborating with other good project to make their own project more successful... these are some thing i keep in mind before investing and i know there are also many other stratagies you guys may have must share your strategy of checking project.

vs2014

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I think you can get lots of good quality tokens from cmc which will be best for investment and less risky. Moreover many tokens will drop in price in connection with the upcoming bitcoin break down so at this moment you should keep an eye on some tokens that should be waiting for a right time to buy. As i am practicing trading now most of the time because my holdings are mostly tokens i have sold with profit. I don't want to go in the direction of losing money due to which the success rate of new projects is less.

LLCrypto

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Quote from: esthershaffer on March 04, 2024, 11:11:35 PM

uno online

Without shilling any coin names, I've been eyeing some relatively newer altcoins to stake a bit in and everytime I try to find information, most of what I find is the official sources or diehard supporters which make every coin sound like the next best thing to takeover the entire market. That's obviously not true. I've tried looking through coin-specidic subreddits too but obviously the mods aren't always going to leave criticism up under the banner of FUD.

I know there was multiple focused discussions on this sub on how to do your own research, but I either can't find them, or I find the ones that are too technical about trying to calculate market cap potential and coin estimates, which does not really matter to me. Does anyone know of reliable sources that can provide unbiased overview of limitations and potential problems that a coin and their devteam is facing?

Ideally if the project has a working product out already the analysis would be a lot easier. Nothing beats using the product and learing for your self if it has a future.

evichi

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In my opinion, the technical competency built behind an altcoin is just one aspect of determining the performance of an altcoin. Another, but the most important, from my understanding, is the credibility of the team members. Team composition/profile is crucial in determining how well an altcoin will perform. Team members with good track record have the potential to excel on projects, and of course coupled with the utility and community support. For example, Meme coins are in most cases short lived because they bask on the euphoria of hype, such that, as soon as the hype dies down, that will be the end. Most meme coins have no utility/technical ability built to solve problems.

Each project have their own peculiar challenges. It is important to carry out extensive and detailed research on projects to figure out specific project challenges, limitations and potential problems faced by the development team. Watch out for comments and reactions from social media, it could be a pointer to detect issues with the token/coin.

mdzahed134

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Actually, there are no specific way to find out a good project. Of course you have research your own way, i can share about my way as like, always first of all i am checking which project website, if you see their website is looks poor then i got a week point because you can also make a project website by spend a few dollars so good quality website is mandatory for a project, than i see their team members then project roadmap & white paper then their social media activists.

fapar

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Quote from: MFahad on March 06, 2024, 11:07:32 PM

Quote from: fapar on March 05, 2024, 02:03:49 PM

I don't agree with you. Without understanding the final product (its technical component), but only on information about the project team, it is short-sighted to make investments. There are quite a lot of talkers and “effective” managers who only talk, but cannot implement the product for years so many. Of course, it is necessary to study the project team, look through the Githubs of programmers, and find out the list of investors. Therefore, many factors must be taken into account, even if it seems complicated.

I believe I have mentioned about following up on the developments of the project to understand whether the team and the developers are serious about the project and whether all the developments are going according to the plan they have provided publicly. I don't think that a person needs to understand the technical side of a project to understand whether it has potential or not, and by the technical side I mean the technical stuff mentioned by them like in the whitepaper or GitHub or anywhere.
If you understand the vision of the project, what it aims to offer, and whether it is going according to the plan and the roadmap with complete transparency, that is enough for you to determine whether the project has got potential or not.

In this case, it is better to rely on the opinion of other people who are better versed in technology, since a beginner does not understand anything about the whitepaper of the project, but wants to become a low-bank investor and make money quickly. Because relying only on reports from the project team that it is achieving some success and following the roadmap is stupid.

God bless u

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Don't depend upon the resources brother nowadays the market is very volatile especially when altcoins are considered. It's completely a game of luck if you want to invest in new projects. Yes you can predict the coins by seeing its relevancy related to the use case but to say something for sure is not the case.

If you have spare assets that you can absolutely afford to lose then I would recommend you to invest only rather than try to invest in Bitcoin and other well established altcoins and after getting good profits then use that profit to learn and earn.

Ben Barubal

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Quote from: batang_bitcoin on March 05, 2024, 04:23:39 AM

Devs are one big red flag if many of them have a bad history.

Quote from: esthershaffer on March 04, 2024, 11:11:35 PM

Does anyone know of reliable sources that can provide unbiased overview of limitations and potential problems that a coin and their devteam is facing?

You have to gather every information that you can. Being unbias isn't in the term of many reviewers and you can only find them rarely that provides insights that are for the sake of the people. But most of them are only giving them biased reviews and thoughts about project whether they like it or not.

That's right, it's hard to trust developers who have a bad history, because why would you trust your capital in the project they're
going to do in the crypto space if they already have a bad background in their past?

It's a shame when you put or allocate funds to the project that they will promote in this field of cryptocurrency.
That's why you should really know how to do proper research on a project in reality.

Essential10

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Currently it is very difficult to determine whether new projects are scam or legitimate. You can see the white paper of the project to see if there is a clear and well thought out plan for its implementation. I have seen a lot of new projects these days scamming projects even after having whitepapers, roadmaps. Be wary of projects that promise high returns with little to no risk. Always your personal decision and don't invest more than you can afford to lose. I am not saying there is no risk, stick to established cryptocurrencies and top altcoins to minimize risk. Always be aware and cautious when looking for new investment opportunities in the crypto space.

bluebit25

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Quote from: esthershaffer on March 04, 2024, 11:11:35 PM

(...) Does anyone know of reliable sources that can provide unbiased overview of limitations and potential problems that a coin and their devteam is facing?

There is no fixed source, and you should research and synthesize the information you get about the project you follow. Depending on the scale to determine the project's ability to demonstrate, I have some experience that most of the top projects receive trust from the community because of their potential based on money, dev, relationships,... decentralization to smaller projects, those things also fade away.

I know some people on X (https://twitter.com/bantg ) , and you should also experience other forms of ponzi, hype, scam,... to understand how they work and take preventative measures. In this space, we know the potential for great opportunities, so there will also be people with bad intentions, so be alert and responsible for all your actions.

Belarge

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Quote from: bitzizzix on March 06, 2024, 03:43:26 PM

Altcoins have higher volatility than more established coins such as Bitcoin and ethereum, and also have the potential to cause high losses if proper and thorough research is not conducted.
And what you should do before getting involved in an altcoin or project, especially a new altcoin or project, is to do very careful and thorough research on the team, technology, and market demand before investing. Because new altcoins are highly susceptible to fraud or other failures, you are required to do your best research to consider them.

Do your research and come to back the space, one will quickly noticed how broad the space have turned out to be and how useful to make up for these opportunities coming in and out. Altcoins comes with unplanned results, I'm not expecting any solid changes in the market because there will presence of high volatility. Taking proper time to ensure we're making the right decisions when it comes to these crypto projects, I know it's never enough but signing up for the good profits simply defines everything.

el kaka22

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Honestly, when you look at only the top ranked ones, why would you want to find anything? In most cases, there are either none or very few. This is why I end up not really figuring it. This problem is for someone who looks at low ranked coins or tokens, which means that you are going to end up finding something, and that would usually be the reason why it's low ranked as well if it had nothing then it would be high ranked as well.

So, just looking at the top names should get you all you need without needing to find cons of it. I invest into top 10 aside from stable ones, which means that it usually ends up being a good investment, not that it never hurt me, but it is really rare for me to be wrong with those ones.

Kelward

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Quote from: bitzizzix on March 06, 2024, 03:43:26 PM

Altcoins have higher volatility than more established coins such as Bitcoin and ethereum, and also have the potential to cause high losses if proper and thorough research is not conducted.
And what you should do before getting involved in an altcoin or project, especially a new altcoin or project, is to do very careful and thorough research on the team, technology, and market demand before investing. Because new altcoins are highly susceptible to fraud or other failures, you are required to do your best research to consider them.

Determining whether a new project is a scam or legit can be a very cumbersome task, you'd have to be experienced in cryptocurrency to be able to determine whether it's authentic and good to invest in, newbies must learn how to know what to lookout for when they carry out research. Knowing the track record of the dev, team is a good way to start, so the would be investors will know if the members have been involved in legit projects because, if they've been in questionable projects prior to that, then it's a red flag not to proceed further. It's safer for newbie investors to start with established crypto coins like Bitcoin and top altcoins, like Ethereum and BNB.

MFahad

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Quote from: fapar on March 05, 2024, 02:03:49 PM

I don't agree with you. Without understanding the final product (its technical component), but only on information about the project team, it is short-sighted to make investments. There are quite a lot of talkers and “effective” managers who only talk, but cannot implement the product for years so many. Of course, it is necessary to study the project team, look through the Githubs of programmers, and find out the list of investors. Therefore, many factors must be taken into account, even if it seems complicated.

I believe I have mentioned about following up on the developments of the project to understand whether the team and the developers are serious about the project and whether all the developments are going according to the plan they have provided publicly. I don't think that a person needs to understand the technical side of a project to understand whether it has potential or not, and by the technical side I mean the technical stuff mentioned by them like in the whitepaper or GitHub or anywhere.
If you understand the vision of the project, what it aims to offer, and whether it is going according to the plan and the roadmap with complete transparency, that is enough for you to determine whether the project has got potential or not.

Yogee

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Quote from: esthershaffer on March 04, 2024, 11:11:35 PM

[....]Does anyone know of reliable sources that can provide unbiased overview of limitations and potential problems that a coin and their devteam is facing?

This is probably too time consuming and everyone is busy trying to make money. There may be some people who maintains their own spreadsheet of tokens that are under watch but I doubt they will share it willingly for free. Twitter and Reddit are still your best source of free information. Just be patient in weeding out the shilling bots.

bitzizzix

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Altcoins have higher volatility than more established coins such as Bitcoin and ethereum, and also have the potential to cause high losses if proper and thorough research is not conducted.
And what you should do before getting involved in an altcoin or project, especially a new altcoin or project, is to do very careful and thorough research on the team, technology, and market demand before investing. Because new altcoins are highly susceptible to fraud or other failures, you are required to do your best research to consider them.

Sophokles

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Quote from: Geurangsang on March 05, 2024, 04:01:05 PM

Never be provoked by what the media says, we must be able to do our own analysis. The media is full of gray where it is very easy to pay people to do good reviews of projects to improve the reputation of the project. You have to practice so that you can find your own method of analysis. You are risking your money here and without your own analysis, you just head into the gray side and directionless.

There is nothing standard in the world of crypto, and there are no reliable sources that are accurate. We just do analysis and predict what will happen. Sometimes we are wrong, so we have to go back.

Project success is usually influenced by the team behind it. Apart from that, community support, project ideas, a clear road map, active social media so we can see that the technology they offer will be needed by people for a long time. You can join to invest with little side, see comparisons and find differences and you will sharpen your analysis slowly.

I don't think most people invest in an altcoin by seeing an ad on Twitter or other social media. Most people follow any influencers who tell them to invest in a project or they follow any journal where any author publishes an article about any project. Thats how many new people got interested in the crypto project. Some people say the best way to lose all of your money in crypto is to blindly follow a YouTuber, and that is why it is important to do research on a project or get an expert opinion about it before investing.

Zanab247

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Quote from: JayTrain

When it comes to new cryptocurrencies, finding objective information can be a challenging task. I always rely on analytical resources like CoinGecko or CoinMarketCap. However, they don't always provide comprehensive information. So, I visit the project's website to learn about their technology, roadmap, community, and team. If these criteria meet my standards, I form my own assessment and, most importantly, check social media to read community opinions.

Most of the relevant information that can help you to make a good choice are from coinmarketcap because, there are different coins you can invest to earn well in the future but there are some coins you will get from the marketcap to invest and you will not like what you will achieve in the future.

If you are more active in this forum, you will see some potential altcoins investors are putting their money during the bear run and they are making money from the altcoin right now because since the bull run occurred in the market Ethereum, Solana and BNB hodlers are busy selling their altcoins to make a cool money.

Geurangsang

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Never be provoked by what the media says, we must be able to do our own analysis. The media is full of gray where it is very easy to pay people to do good reviews of projects to improve the reputation of the project. You have to practice so that you can find your own method of analysis. You are risking your money here and without your own analysis, you just head into the gray side and directionless.

There is nothing standard in the world of crypto, and there are no reliable sources that are accurate. We just do analysis and predict what will happen. Sometimes we are wrong, so we have to go back.

Project success is usually influenced by the team behind it. Apart from that, community support, project ideas, a clear road map, active social media so we can see that the technology they offer will be needed by people for a long time. You can join to invest with little side, see comparisons and find differences and you will sharpen your analysis slowly.

DeathAngel

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It’s always a good idea to do extensive research in any coin before you decide whether or not you should invest in it or not, especially if you plan to invest a significant amount. Pros & Cons will be different for everybody, it’s personal. There are some general things you can look for though What is the Market Cap, what is the Max Supply, what’s the Circulating Supply, what’s the Total Supply. Who are the project founders, there are so many things to look for but ultimately the risk is yours to invest or not invest.

Sophokles

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There are many things to look into, especially if you are investing in a project that is relatively new. For a new project you need to look at the team, funding, concept and roadmap. Also you need to make sure it has good tokenomics because sometimes the price of the token can be confusing. FDV and circulating supply are two key factors for a project that will tell you if it has healthy tokenomics or not. Without great tokenomics, even a good project token will fail to meet the price expectation.

fapar

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Quote from: MFahad on March 05, 2024, 12:37:13 PM

You don't need to get into the technicals of a project to understand whether it has potential or not, you should check whether it has a good team, and you can check that by doing some research on the team members to see which projects they have been working with in the past and whether those projects were successful or not. If you don't find anything convincing, the project must not be very impressive.
Other than that, you can follow up on their developments and how they keep their community engaged, their social media handles should give this up. If you don't see much reactions and organic followers for the project, it probably means it isn't interesting.

I don't agree with you. Without understanding the final product (its technical component), but only on information about the project team, it is short-sighted to make investments. There are quite a lot of talkers and “effective” managers who only talk, but cannot implement the product for years so many. Of course, it is necessary to study the project team, look through the Githubs of programmers, and find out the list of investors. Therefore, many factors must be taken into account, even if it seems complicated.

kamvreto

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Quote from: Text on March 05, 2024, 04:38:05 AM

~snip~Check for red flags, and be wary of coins that have many bots or overly enthusiastic supporters promoting them. This could be a sign of manipulation.

Ever bought coins in a group full of active bots, but user interaction was not so much. Only the group owner and a few always-on admins promised a 100x, 100x etc. hike and then slowly the coin was rug pulled and abandoned. It's good before buying any coin, especially new coins, then see how the coin reviews. Usually, there will be many influencers who analyze and see how the coin works. Don't fall into the trap of scammers.

MFahad

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You don't need to get into the technicals of a project to understand whether it has potential or not, you should check whether it has a good team, and you can check that by doing some research on the team members to see which projects they have been working with in the past and whether those projects were successful or not. If you don't find anything convincing, the project must not be very impressive.
Other than that, you can follow up on their developments and how they keep their community engaged, their social media handles should give this up. If you don't see much reactions and organic followers for the project, it probably means it isn't interesting.

husencoe

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Investing in new coins is very risky for beginners. Many people suggest looking for a safe position to invest, on Bitcoin or Ethereum. But for me, making an investment in the top of 10 best coin list on Coinmarketcap is not too bad. Many new coins lose value a few monts after launch because developers only think about their wallets from the ICO. So you have to get to know the coin developers and see what potential they promise.

Quote from: esthershaffer on March 04, 2024, 11:11:35 PM

Does anyone know of reliable sources that can provide unbiased overview of limitations and potential problems that a coin and their devteam is facing?

There is no official and reliable source to analyze a new coin project. We have to make standards and analyze them by ourselves or ask on this forum. I usually check Icoholder and see if they are listed there. If they have a good reputation, I will give them one point. Then I will look at their website, about their plans and ideology, about opportunities, road map, technology and more. I will also check their social media to review their work progress and their update. Lonely social media means it has no potential.

You also can use Coinmarketcap to analyze a coin. There you can find information about how much daily volume trade, where their listing on exchange, the curve dan lainnya. May be this is from me, hope this will help you.

JayTrain

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When it comes to new cryptocurrencies, finding objective information can be a challenging task. I always rely on analytical resources like CoinGecko or CoinMarketCap. However, they don't always provide comprehensive information. So, I visit the project's website to learn about their technology, roadmap, community, and team. If these criteria meet my standards, I form my own assessment and, most importantly, check social media to read community opinions.

Text

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Research the team behind the coin, investigate the backgrounds, and track records of the team members. This can give you insights into their ability to deliver on their promises.

Understand the Technology, try to understand the underlying technology of the altcoin. This can be technical, but it’s essential to know what makes the coin unique and whether it’s feasible.

Check for red flags, and be wary of coins that have many bots or overly enthusiastic supporters promoting them. This could be a sign of manipulation.

batang_bitcoin

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Devs are one big red flag if many of them have a bad history.

Quote from: esthershaffer on March 04, 2024, 11:11:35 PM

Does anyone know of reliable sources that can provide unbiased overview of limitations and potential problems that a coin and their devteam is facing?

You have to gather every information that you can. Being unbias isn't in the term of many reviewers and you can only find them rarely that provides insights that are for the sake of the people. But most of them are only giving them biased reviews and thoughts about project whether they like it or not.

mk4

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Because research in itself, especially in the tech+finance world, is quite technical lol. That's why most people don't/can't pick the right coins, because they're simply incapable.

Quote from: esthershaffer on March 04, 2024, 11:11:35 PM

Does anyone know of reliable sources that can provide unbiased overview of limitations and potential problems that a coin and their devteam is facing?

There's no one-size-fits-all source to see the cons of a project. It's mostly just use-case and economic viability that determines a project's general viability is in the top-level. And there's the basic stuff like determining if the project/team is fake, and the like.

esthershaffer

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uno online

Without shilling any coin names, I've been eyeing some relatively newer altcoins to stake a bit in and everytime I try to find information, most of what I find is the official sources or diehard supporters which make every coin sound like the next best thing to takeover the entire market. That's obviously not true. I've tried looking through coin-specidic subreddits too but obviously the mods aren't always going to leave criticism up under the banner of FUD.

I know there was multiple focused discussions on this sub on how to do your own research, but I either can't find them, or I find the ones that are too technical about trying to calculate market cap potential and coin estimates, which does not really matter to me. Does anyone know of reliable sources that can provide unbiased overview of limitations and potential problems that a coin and their devteam is facing?

Topic: How do you find out cons of altcoins? (Read 368 times)