How to find and hold in Atlcoin effectively? - page 4.

irhact

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Quote from: jrrsparkles on February 21, 2024, 11:33:24 AM

I would never think of holding an altcoin even if its a reputable one like Ethereum because stats says it doesn't worth it.

Your stats aren't correct or can you make it more clearer to use as holding Ethereum has been profitable and some other altcoins too. Some memecoins also giving good profits if you hold it instead of selling it. BNB has been profiting to individual that are holding it instead of selling it to make profits. It's not all altcoins that are useless as some individuals are saying. Altcoins has made a lot of individuals profits and it'll keep making them profits including this bull market that's coming.

Any altcoin that you want to hold has to been worth it and you should have done your research to make sure you're investing in a top quality project and not a random project that is looking to scam their investors. Altcoins that we should be holding should be those that have clear future plans and not does only getting launched with similar names to already existing projects and looking to benefit from their hype.

beerlover

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Quote from: Kelward on February 21, 2024, 04:39:06 AM

The steps that is listed in the OP are helpful tips to choosing altcoins to buy, however as you've also noted, an investor can use the strategies and end up buying scam projects or new projects that are legit from the beginning later they're value will end up becoming worthless. The fact is that new projects are risky, even after researching them, they might end up not being profitable in the long run. Like you if I plan to buy altcoins, it'll have to be the ones that have proven their reputations in the crypto market, like Bitcoin, because I like to minimize my risks.

Yeah true, you can do all you have to do and you could still invest into something that may not be all that great, we should be careful with what we are investing into and if we are not careful then we are going to end up losing a lot of money. We just need to do all that we can, and if we are right then we are going to be doing good, if we are wrong then there is really nothing that we can do about it.

So, it is clear that we are going to end up with a good return that will be very profitable for us, and that has to be something that we all agree on. Keep your strategy going and even if you lose, do not lose your temper and keep a strict plan, that way you could do better eventually when you have the time and next time you could make a profit and make up for that loss.

Sophokles

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There are aggregator platforms where you can find all the new shiny crypto on the market. Even so, they have filters that you can use to pick the right one for you. To justify a project as legit or not, a person needs long experience and some insight about the industry. A good project should have a strong team, VC funds, community, and social presence; otherwise, it won't be possible for them to survive the market if they have the intention to do so. Tokenomics is also important for the long-term stability of the price.

jrrsparkles

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I would never think of holding an altcoin even if its a reputable one like Ethereum because stats says it doesn't worth it.

HODL is the term we prefer to use for long-term investment like atleast 4 years, and its too risky to pick something like altcoin which has uncertain future or the price has been stagnant over the years even while bitcoin is going bullish for over a year when we compare litecoin, monero and ethereum.

Moreno233

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Quote from: Dunamisx on February 20, 2024, 06:36:26 AM

Quote from: SeriouslyGiveaway on February 14, 2024, 09:12:29 PM

In short, choosing a new Altcoin for the next growth season is very important, requiring patience and research from you. But besides that, determining a reasonable holding period is equally important.

Making a decision on investing on altcoins is very easy to achieve, but seeing a reliable coin to invest into is very difficult, if you also made an investment, you must monitor it, some are good to hold for a long time while some were at risk if you're holding them for long, but the best idea here to suggest is in giving a decision to always begin your investment with bitcoin before diving into any other altcurrencies, so that if any shady stuff should occur, you will always have where to fall back on for recovery.

The decision to invest in an altcoin may not be easy as you think because a lot of factors must be put into consideration if you have to invest with peace of mind. Investing in altcoins is not so much of a mistake provided proper research have been done about it and it has also gain traction in the market. The problem with altcoins that have gone to this extent is that it would have already given much of its profits before getting to this stage. But in terms of risk, it is still better and safer than new coins that the future is not yet certain. Scammers can actually create new tokens with the intention of collecting people's money.

Volimack

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As far as I'm concerned it's best to do market research to find altcoins. Then you can know about which coins are good in the market. It is best to try to stay away from new coins as they are almost scams. And if you plan to hold for long term then you can choose BNB and Eth they are safe currency and not scam. These coins will give good returns as the value of bitcoin increases.

Kelward

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Quote from: Coyster on February 15, 2024, 03:57:27 PM

Quote from: SeriouslyGiveaway on February 14, 2024, 09:12:29 PM

This is my process for finding an Altcoin (new project) for long-term investment

Having said that, because of the lack of utility in altcoins, i buy only Bitcoin, but if i must advise people on altcoins, i'd tell them to purchase altcoins that have been in the market for sometime and already have a "strong" community.

The steps that is listed in the OP are helpful tips to choosing altcoins to buy, however as you've also noted, an investor can use the strategies and end up buying scam projects or new projects that are legit from the beginning later they're value will end up becoming worthless. The fact is that new projects are risky, even after researching them, they might end up not being profitable in the long run. Like you if I plan to buy altcoins, it'll have to be the ones that have proven their reputations in the crypto market, like Bitcoin, because I like to minimize my risks.

xeqoRameshAxueamExaqana

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if you hold for the long term, buy altcoins that are already big market but the price is still below the ATH price. other BNB examples can be matic. the point is that big market coins are safe and not scam coins, the price is still cheap so that the profit can be maximized.

bitzizzix

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It is actually not an easy task to choose a successful and profitable altcoin and doing thorough research seriously is the key. And everything they say here is true, but you also need to have serious skills that you can rely on to make the final decision.
And I think the most important thing is to analyze the team, are they all experienced and have a good reputation and do they have successful experience or a clear roadmap for the project at hand. Because if you can analyze all team members well, you can assess whether the team has good potential or whether there are suspicions that make you want to do other research as a whole to confirm it.

Obim34

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I would say the first thing to do when choosing an Altcoin is considering and checking out the team behind the project, community, transparency with the community and the potentials of that project all about them surviving in the market.
There are some projects that are not firmly built, knowing fully well one should understand it would be best to invest for a shorter time, once there is a pump it is best to withdraw profit just to be on the safer side because the project and team lack what it takes to ride on the market.

kentrolla

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Quote from: MFahad on February 20, 2024, 11:56:32 AM

Community and exchanges listing also play vital role in choosing any altcoins. A very good project,good usecase without a good community will not bring a good result. This is the reason Meme coins without any usecase getting lot of attention of big exchanges to list while good usecase project doesn't able to list in Tier 2 exchanges. Altcoins mostly work with trend. If gaming trend is on then its not wise decision to invest in Web 3 project. Similarly when layer2 projects are trendable then it's not time to invest in Layer 1 projects. I mostly choose coins having big community and team do many testnet phases to make their ecosystem friendly for all users. Token distribution also should be checked especially team members tokens. a good project always have a two year at least vesting duration.

Yes that's the sad reality as exchange plays more vital role than the project capabilities itself and you are right as we have seen lot of shit coins I would say meme coins which are listed on top tier exchanges like Binance tends to pump much higher than it's listing or ICO price but wherein there are good projects which are listed in smaller exchanges are just undervalued but unfortunately that's how the market works on a short term but on longer term good projects thrives and eventually shit coins gets delisted fron top tier exchanges and it's the investors who loses it all.

Belarge

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Quote from: snowpega on February 20, 2024, 09:04:32 AM

As most of the members mentioned the best way to judge the altcoin project is the best way to examine the project is it a scamming project or a strong project for all that you have to stay up-to-date about projects well these days there are alot of new projects in the market just come for earing from its investors at the starting point they make hype in the market to bring interest the investors so that investors come and invest in the hype making projects but after some time/days when we see at the price it start to go down and dwoner day by day which shows that the project was totally planed to come in the market for earning purpose from its investors.

There are some projects you can check out there in the market which was recently listed and at start, they make good hype and starts to go down day by day which represents the project is shit and scamming project. So, it is very important to DYOR before investing in any of the altcoin. Many Thanks! DYOR.

Observe a crypto project before investing in it. They're dangerous when we have no clue but high hopes. There are numerous projects in the space, we just have to thoroughly mapped out our time to enable ourselves become open to golden opportunities in the system. I wouldn't advised anyone to relent in the market because there's quite significant phases, we should be busy milking the system and not the other way round. Altcoins are ought to be slighted engaged in trading volume, we just have to stick to becoming a better version of ourselves in the market. DYOR before you execute your plans in the space.

MFahad

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Community and exchanges listing also play vital role in choosing any altcoins. A very good project,good usecase without a good community will not bring a good result. This is the reason Meme coins without any usecase getting lot of attention of big exchanges to list while good usecase project doesn't able to list in Tier 2 exchanges. Altcoins mostly work with trend. If gaming trend is on then its not wise decision to invest in Web 3 project. Similarly when layer2 projects are trendable then it's not time to invest in Layer 1 projects. I mostly choose coins having big community and team do many testnet phases to make their ecosystem friendly for all users. Token distribution also should be checked especially team members tokens. a good project always have a two year at least vesting duration.

Nechiequ

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Quote from: LogitechMouse on February 20, 2024, 09:41:43 AM

-snip-

Just always take note that the lower the market cap, the higher the risk, and vice-versa. Just think that not altcoins on the top are good long-term coins to hold as well. I guess what I also say is that, always be ready in whatever may happen because you might see your token plummeting by -80% or even more because the token you bought is a scam coin. Cheesy

A piercing answer😁.
Fundamentals do greatly affect its movement but it is very rare, but technicals are always a reference in knowing the development of an asset and i feel that technicals occur more often than fundamentals. And this technique is more pronounced if used for trading in a short period of time.

LogitechMouse

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Community, tokenomics, fully diluted value, use-case, uniqueness, transparency, developers.

These are just some of the factors that might affect my decisions on whether an altcoin is a coin to hold for the long term. It will be a different case if I buy an altcoin and hold it for the short term because, in the short term, I believe that hype is better than fundamentals or whatever factors it is. The way investors think is very different, and it depends on how long they will hold that altcoin. As for me, I'm buying an altcoin that has been in the market for quite some time, survived during the bear market, and has a huge community behind it. After all, I will just sell all of my altcoins at the peak of the bull run (if lucky).

Just always take note that the lower the market cap, the higher the risk, and vice-versa. Just think that not altcoins on the top are good long-term coins to hold as well. I guess what I also say is that, always be ready in whatever may happen because you might see your token plummeting by -80% or even more because the token you bought is a scam coin. Cheesy

snowpega

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As most of the members mentioned the best way to judge the altcoin project is the best way to examine the project is it a scamming project or a strong project for all that you have to stay up-to-date about projects well these days there are alot of new projects in the market just come for earing from its investors at the starting point they make hype in the market to bring interest the investors so that investors come and invest in the hype making projects but after some time/days when we see at the price it start to go down and dwoner day by day which shows that the project was totally planed to come in the market for earning purpose from its investors.

There are some projects you can check out there in the market which was recently listed and at start, they make good hype and starts to go down day by day which represents the project is shit and scamming project. So, it is very important to DYOR before investing in any of the altcoin. Many Thanks! DYOR.

BRINIRHA

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It takes patience in exploring every detail of the information we need to make a decision before choosing to invest in altcoins. Especially in fundamental analysis. I personally prefer to look at who or what company is behind the project or funding the project. Because usually if a project is funded or has large corporate investors like Binance Labs or something like that then the potential of the altcoin will really be visible without even having to see who the team is behind it. But it's better to know the team behind it. Because a dev's profile can be important information for a project. For example, WLD has recently had an increase because this coin has a fairly well-known Dev in OpenAI's ChatGPT.

MAAManda

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Quote from: SeriouslyGiveaway on February 20, 2024, 01:16:00 AM

Quote from: MAAManda on February 15, 2024, 07:25:09 AM

In fact, to find potential projects, we have to carry out complex research, which means there are many aspects that need to be looked at. I have my own way of identifying a project, as follows:
1. Looking at the fundamentals
2. Looking at the teams
3. Looking at the investors and backers.
4. Looking at the tokenomics.
5. Looking at the community

Yep, these are also aspects we can consider to find a good ALtcoin. Searching to find an Altcoin that we can safely invest in for the long term is a process that requires in-depth digging, there are many criteria we can set to choose, and sometimes we just need to meet a few important criteria, we can think about investing to them. It is not necessary to ensure all criteria. This is very perfectionistic and sometimes we will miss a lot of good growth projects.

Are you serious? how can you find good projects if not from the results of complex research, this isn't about perfectionism or not, but there's money that we'll put in here and to maintain value or increase value of course requires complex research. Then about the important criteria you mean, what are they? I think it's better for you to explain it rather than making ambiguous statements.

Quote from: SeriouslyGiveaway on February 20, 2024, 01:16:00 AM

Quote from: MAAManda on February 15, 2024, 07:25:09 AM

To compare 2 altcoins from the same category, you can use Marketcapof, there you will easily get multiples by comparing the MC of 2 projects.

Using Marketcap to compare 2 projects is the simplest and most intuitive way. Besides, we can consider many other factors such as the community, TVL, investment funds and who is the MM team behind them. The most obvious examples are Arb and Op. Maybe in terms of technology ,community and Arb's TVL is superior to OP, but the investment fund behind Op is not much and not spread out like Arb, so it will be easier for MM to set up to push the price than Arb. You should combine many screening criteria to make the most reasonable choice.

What MM do you mean here is Market Maker? or another term?

Dunamisx

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Quote from: SeriouslyGiveaway on February 14, 2024, 09:12:29 PM

In short, choosing a new Altcoin for the next growth season is very important, requiring patience and research from you. But besides that, determining a reasonable holding period is equally important.

Making a decision on investing on altcoins is very easy to achieve, but seeing a reliable coin to invest into is very difficult, if you also made an investment, you must monitor it, some are good to hold for a long time while some were at risk if you're holding them for long, but the best idea here to suggest is in giving a decision to always begin your investment with bitcoin before diving into any other altcurrencies, so that if any shady stuff should occur, you will always have where to fall back on for recovery.

btc78

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There are countless of altcoins in circulation out there and many more are being released every day. It may feel tedious to sort out different altcoins and like you said it might feel overwhelming that you might want to give up at some point.
I suggest putting up a plan first.

Do you want to trade or hold? What are features that you greatly value? Do you value privacy more than other utility functions? Maybe you are techy and would want to focus on the blockchain it operates on. I think being able to build of what exactly you are looking for can help you sort out the exact kind of altcoins you may want to focus on. Altcoins have different types as well from memecoins to DeFi so being able to single out a specific type is essential.

A lot of altcoins often end up being scams so there should be an extra step to check everything to make sure that you do not regret later on. Do not be blinded by flashy words and big promises especially by newly launched projects.

It is also helpful to build a long-term plan. Identify at what point should you buy or sell to minimize risks.

Topic: How to find and hold in Atlcoin effectively? - page 4. (Read 786 times)