Is there a digital currency with higher security? - page 2.

GreatArkansas

legendary

Activity: 2506

Merit: 1394

Quote from: jossiel on July 12, 2023, 07:08:25 PM

(....)

Quote from: Firlis on July 08, 2023, 09:26:10 PM

How can we better identify them? I hope everyone can make suggestions so that more people can learn from experience

You don't have to go that far on this one.

Buy Bitcoin, its network is secured and you don't have to wonder why people are always suggesting it to have. It's simple because it's the top and if you're looking for a security, check its history.

Nothing wrong with altcoins, I believe. It's just a simple high risk: high reward.
That's why people are very tempted to invest in random altcoins rather than Bitcoin because of the reward, which this reward is extremely high, there are a lot of altcoins that can be examples of this.

what @hugeblack said above me is a good strategy when investing in altcoins, identify the risks of each altcoin you want to invest and allocate a specific amount for that, don't go all in.

jossiel

hero member

Activity: 3150

Merit: 636

DGbet.fun - Crypto Sportsbook

Quote from: Firlis on July 08, 2023, 09:26:10 PM

New currencies and new projects emerge in an endless stream every day, most of which are deceptive and make investors miserable.

You're right and that's why majority of them are just like an addition to the market without having any contribution because all of them are made to be nothing.

Quote from: Firlis on July 08, 2023, 09:26:10 PM

How can we better identify them? I hope everyone can make suggestions so that more people can learn from experience

You don't have to go that far on this one.

Buy Bitcoin, its network is secured and you don't have to wonder why people are always suggesting it to have. It's simple because it's the top and if you're looking for a security, check its history.

hugeblack

legendary

Activity: 2688

Merit: 3983

In general, make the basic assumption for you that any non-bitcoin crypto is scam, unless strong evidence proves otherwise, and this evidence means that you can invest in this currency as the highest level of risk.

So, the beginning is to diversify your investments from safe, low-risk, medium, and high-risk investments, and very high-risk investments(it is likely that you will lose them.) Do not make the value of very high-risk investments more than 10% of your investment amount, and then you can divide it into 5 projects at a rate of 2% for each project.

Now for positive indicators:

- Having a technical team that wants to solve a real problem.
- A roadmap that ultimately aims to solve this problem.
- They do not promise you a quick profit or an investment for the purpose of profit.
- Most of the coins/tokens are not controlled by the developer team.
- There is no control over burning.
- To not be decentralized, even if they are central, to have clear solutions to comply with legal legislation.

aylabadia05

hero member

Activity: 1540

Merit: 772

Quote from: Firlis on July 08, 2023, 09:26:10 PM

New currencies and new projects emerge in an endless stream every day, most of which are deceptive and make investors miserable. How can we better identify them? I hope everyone can make suggestions so that more people can learn from experience

The new project features a promising roadmap with a different promotion model. Each of them makes an ANN about the project they are going to run. We often find in ANN if member photos displayed in ANN like to cheat.
No matter how good their concept is, it is very likely that the many that appear in the crypto space will end up being scams.

The unique piece of advice you can hear from people is be careful.
Switch to Bitcoin if you don't want to feel the pain of being tricked.

TheGreatPython

sr. member

Activity: 2660

Merit: 339

Quote from: Xal0lex on July 09, 2023, 08:21:54 AM

Very simple. See investment rounds, who is the baker, a major investor in the project, where the project's token sale is held, which exchanges the project is traded on, its tokenomics, the roadmap, the developers' portfolio, and much more.

This is the best way to screen new projects if you really want to invest. If you want to play roulette, then just invest at random, in everything you see first Wink

Investment rounds? Where is it located at? I only remember games and rounds and investor-based games here in the forum. Looking at who is investing in the project is not enough. We might see a big investor but we shouldn't be happy and do the same thing because it might only be a whale or a part of the projects team whose goal is to manipulate the value of the coin.

Good thing, you gave other factors and we should also check them to have a better judgment of the project. Your response here seems the one the OP is looking for but I think its title is a little different. At first I thought he is looking for those privacy-based coins like Monero.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: Firlis on July 08, 2023, 09:26:10 PM

New currencies and new projects emerge in an endless stream every day, most of which are deceptive and make investors miserable. How can we better identify them? I hope everyone can make suggestions so that more people can learn from experience

Look this is not rocket science, I am sure that deep down you already know what you have to do in order to identify scams, it is just the majority of the people out there simply do not want to follow those steps, as if you really took the time to do your due diligence then you will need to spend months investigating hundreds of projects, only to not find a single one worth your time, and if that is the case then you should give up on those projects as I doubt that even experimented investors could reach a high accuracy rate when picking one of those coins.

Xal0lex

staff

Activity: 2436

Merit: 2347

Very simple. See investment rounds, who is the baker, a major investor in the project, where the project's token sale is held, which exchanges the project is traded on, its tokenomics, the roadmap, the developers' portfolio, and much more.

This is the best way to screen new projects if you really want to invest. If you want to play roulette, then just invest at random, in everything you see first Wink

Firlis

newbie

Activity: 20

Merit: 0

New currencies and new projects emerge in an endless stream every day, most of which are deceptive and make investors miserable. How can we better identify them? I hope everyone can make suggestions so that more people can learn from experience

Topic: Is there a digital currency with higher security? - page 2. (Read 253 times)