Why are altcoins important? - page 15.

X-ray

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altcoins are coins that are relatively easily influenced by external factors such as speculation, news, celebrity attention, etc., so they experience rapid price fluctuations and are perfect for investors who want to seize the opportunity. when you follow the market well (or even have a team for it) you can make really good money

How big you can make money from the market totally depends on your timing. The early buyer will always be winners in this case. There are so many people were always putting their money too late and in result they are getting huge losses.
People shall understand that if investing is not as easy as they imagine. It requires you to take a fast decision as soon as possible before the train will leave you. It's not all of investors will be getting profit from their investments. The fact that if mostly of them gonna lose due to the volatility.

Altcoins are very important as tool to generate profits from the market in short time. Many people were relying on the volatility in altcoins caused by its even volatile compared to major coins like bitcoin and ethereum.

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Investing in altcoins can offer significant opportunities for profit if approached with a strategic mindset. Buying the dip and selling for a profit can indeed be a successful strategy in a volatile market. However, it's crucial to have a clear understanding of the altcoin's fundamentals, development team, and overall market sentiment before making any investment decisions.

You're right, not all altcoins are scams. One platform I've been using for crypto earning is XGo. Their wealth growth features and earning rewards are a great way to make the most of the altcoin market. Always good to be cautious, but XGo offers a reliable option.

bangjoe

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Quote from: mich on July 30, 2023, 10:12:35 PM

Well I think with how global economy is now it may take a few months but eventually the crypto market correction will start. I will remain highly weighted in BTC but I will definitely picking up some ETH, LTC, and XRP as well.

I’ve been keeping my eye on these altcoins for a while now. I believe many alt coins will start pumping soon but I think it will happen once BTC starts pumping again. The only challenge is I don’t have that much fiat lying around but this is a great time to get in cheap.

I don't know what kind of storm will happen to the economy, many people are discussing about the storm so that the crypto currency market will have another correction after what happened before. Can you tell me about it.?

Bitcoin is always the first choice at the investment level, ETH is the second alternative which is the best choice for now, speaking of XRP I heard that the SEC will appeal about the XRP case, because they feel something is wrong with the results of the XRP victory trial, maybe yes or maybe no XRP might have a correction back (Hawey might have made a mistake).

It's a good sign when XRP won yesterday, a lot of altcoins were bullish at that moment because the hype was so widespread that it made crypto itself more famous, and this I think is one of why altcoins are important.

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Quote from: Mehedi72 on July 29, 2023, 07:32:36 AM

As you already said, altcoins can scam, death, tuun into shitcoin and so on. I agreed that most of altcoins fail to survive for long term But not all atcoins are bad! If you have high expectations, and buy shitcoin for more roi, then thats Your falut. If you invest valid potential altcoins, then theres very less possibility that those Will be scam, dead or shitcoin. Low your expectations and invest with potential coin. If you Don't know how to find out then you can invest with top 20 crypto-currencies. Although you need to notice that, avoid memecoin, and shitcoin like tron. Otherwise all seems okey

Well, I do agree with your point that someone who becomes greedy for more profits and invests in meme coins or coins that are just launched and don't even have any potential or actual use case tends to lose more money because such coins and tokens are never guaranteed to provide their investors with profits. We've seen a lot of projects getting millions of dollars in investments but at the end of the day, they failed to provide anything to their investors.

So the best way is to simply choose altcoins that are trusted and have been around for quite some time just like Ethereum, Litecoin, Monero, and many others that we know have got the potential to perform well when we enter the bull run and we can get good profits if not huge from these investments.

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Quote from: TastyChillySauce00 on July 28, 2023, 09:02:45 PM

Quote from: Fuso.hp on July 25, 2023, 08:44:32 AM

By far the most scammed is ALT Coin. Still people are more interested in investing in these coins. While ALT coins are scams, there are some coins that are exceptions. I can only trust BNB for investment, I don't trust the rest of the coins that are out there. If there is any coin worth investing in for the long term after Bitcoin, it is BNB. Other coins are also good for investment but they are for short term for trading we can use ALT coins but for long term investment I will never choose other ALT coins.

He meant about altcoin and binance coin was also altcoin too. There's no different between binance coin and altcoin. I guess if you didn't get what OP meant above. you shall never investing in binance coin if you are not even trusting it.

It sounds really weird for me to see you said that above. BNB is altcoin.

And he also forgets that Ethereum is an altcoin too.
Anyways, it was acceptable that there are tons of shitcoins in the crypto market but to extend that we can't generalize them all as useless because some of them had a role to play like ETH and even Solana. We can't argue if someone would invest or not but the most important is that we are not investing worthless altcoins, especially those coins that are driven by hype to gain popularity and fame. We can't be careless in the sense that crypto space flooded with scam projects, yet there still some that are worth to trust.

Yeah, better to take time in doing your research before you ride with the project that you will going to support.
I think it's a personal decision making after you do your DYOR.

There are alt projects that still have that potential, though we can agree that the majority of the project inside are just
created to make a pump and dump and then die, eventually.

That are the kinds of projects that you needed to avoid, whatever coin/s to pick for your investment, just do your diligence
to DYOR and trust your understanding.

mich

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Well I think with how global economy is now it may take a few months but eventually the crypto market correction will start. I will remain highly weighted in BTC but I will definitely picking up some ETH, LTC, and XRP as well.

I’ve been keeping my eye on these altcoins for a while now. I believe many alt coins will start pumping soon but I think it will happen once BTC starts pumping again. The only challenge is I don’t have that much fiat lying around but this is a great time to get in cheap.

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Quote from: Jocuserious on July 04, 2023, 04:08:03 AM

Scam, death both have in altcoins market so why you want investing altcoins?
My opinion buy dip and sold faster on some profits like to be best revenge for all altcoins investors!
What's your skills and opinion?

It is true that there is a high risk on investing to altcoins. Because day by day the scam shits amount are also increasing in this case I think most of the investor seeking for bitcoin for a secure investment. But altcoins are also necessary because you can diverse your investment by this and by your skill you can able to also gain good profit from this. Also there to reduce transsaction cost alternative coin can be good option.

Mehedi72

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As you already said, altcoins can scam, death, tuun into shitcoin and so on. I agreed that most of altcoins fail to survive for long term But not all atcoins are bad! If you have high expectations, and buy shitcoin for more roi, then thats Your falut. If you invest valid potential altcoins, then theres very less possibility that those Will be scam, dead or shitcoin. Low your expectations and invest with potential coin. If you Don't know how to find out then you can invest with top 20 crypto-currencies. Although you need to notice that, avoid memecoin, and shitcoin like tron. Otherwise all seems okey

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Quote from: TastyChillySauce00 on July 28, 2023, 09:02:45 PM

Quote from: Fuso.hp on July 25, 2023, 08:44:32 AM

By far the most scammed is ALT Coin. Still people are more interested in investing in these coins. While ALT coins are scams, there are some coins that are exceptions. I can only trust BNB for investment, I don't trust the rest of the coins that are out there. If there is any coin worth investing in for the long term after Bitcoin, it is BNB. Other coins are also good for investment but they are for short term for trading we can use ALT coins but for long term investment I will never choose other ALT coins.

He meant about altcoin and binance coin was also altcoin too. There's no different between binance coin and altcoin. I guess if you didn't get what OP meant above. you shall never investing in binance coin if you are not even trusting it.

It sounds really weird for me to see you said that above. BNB is altcoin.

And he also forgets that Ethereum is an altcoin too.
Anyways, it was acceptable that there are tons of shitcoins in the crypto market but to extend that we can't generalize them all as useless because some of them had a role to play like ETH and even Solana. We can't argue if someone would invest or not but the most important is that we are not investing worthless altcoins, especially those coins that are driven by hype to gain popularity and fame. We can't be careless in the sense that crypto space flooded with scam projects, yet there still some that are worth to trust.

TastyChillySauce00

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Quote from: Fuso.hp on July 25, 2023, 08:44:32 AM

By far the most scammed is ALT Coin. Still people are more interested in investing in these coins. While ALT coins are scams, there are some coins that are exceptions. I can only trust BNB for investment, I don't trust the rest of the coins that are out there. If there is any coin worth investing in for the long term after Bitcoin, it is BNB. Other coins are also good for investment but they are for short term for trading we can use ALT coins but for long term investment I will never choose other ALT coins.

He meant about altcoin and binance coin was also altcoin too. There's no different between binance coin and altcoin. I guess if you didn't get what OP meant above. you shall never investing in binance coin if you are not even trusting it.

It sounds really weird for me to see you said that above. BNB is altcoin.

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Quote from: TheUltraElite on July 25, 2023, 08:38:35 AM

Altcoins are a good example of how easily you can fool an investor when presented with a bitcoin-like concept that is a complete vaporware in reality. We dont see much of the newly launched altcoins make any headlines after a couple of years - if you look deeply in the net you will find that they have been on a ghosting mode or making up shit excuses and delaying stuff, in reality they have gone bankrupt and have abandoned the project.

What matters is the lesson learnt from them. Give at least two years to any altcoin project before making your move on it - remember that your money is hard earned.

Ethereum was once a waporware cryptocurrency, until it faced heavy pressure from investors. Most altcoin projects tend to launch their own token or cryptocurrency without having deployed their own Blockchain network first. TRON started this way, as well as, EOS. They now have their own independent blockchain networks competing against top industry players. Altcoins like Holochain (HOT) and Maidsafecoin (MAID), remained waporware to this date. Investors who bought such coins were scammed big time.

As to the question of why altcoins are important, it's simple. They are needed to help test the Blockchain's true limitations and/or capabilities. Without altcoins, Bitcoin would become a complete disaster. After all, you can't scale a single Blockchain network for millions of people worldwide. Altcoins bring new features to the table, while relieving the main BTC blockchain from high transaction load. Who knows how big will the altcoins market grow in the future? Just my opinion

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Quote from: timoshani on July 17, 2023, 02:23:31 PM

Quote from: Xal0lex on July 17, 2023, 10:12:46 AM

I agree with you that a very small percentage of investors can make a profit of $10,000 with a deposit of only $100. But it is worth considering that it is impossible to get such profit in bitcoin, unless you are engaged in trading or margin trading. You can get such profit in altcoin sector by participating in various activities, such as retrodrops or testnet. The chance is minimal, but it is there.

You can also invest in an NFT project, which can also be profitable.

The NFT market is dead, investing in NFT is useless as tokens take turns at breakneck speed and depreciates very quickly.

Quote from: timoshani on July 17, 2023, 02:23:31 PM

But the named lucky ones in trade are 0.5-1% of all crypto traders.

This is not correct data. There are actually about 5% of successful traders in the market. Most likely, among crypto traders who trade NFT crap, there are really only 0.5% successful ones.

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Quote from: Fuso.hp on July 25, 2023, 08:44:32 AM

By far the most scammed is ALT Coin. Still people are more interested in investing in these coins. While ALT coins are scams, there are some coins that are exceptions. I can only trust BNB for investment, I don't trust the rest of the coins that are out there. If there is any coin worth investing in for the long term after Bitcoin, it is BNB. Other coins are also good for investment but they are for short term for trading we can use ALT coins but for long term investment I will never choose other ALT coins.

I think scammed in altcoins can't be ignored but it doesn't mean that all altcoins are based on scame. There are still good and strong potential coins in the market that can give investors a good return in the upcoming bull season. If we talk about the last bull season, in that too altcoins gave people a huge profit. There for the importance of altcoin can never be ignored.

Your recommended BNB is a good coin which is currently the token of the biggest exchange. I think one should never depend on any one token and never make all of one's investment in an exchange's token, because the exchange token is entirely dependent on the exchange, if the exchange has a problem, its value will automatically decrease. The example of FTX exchange is in front of us due to which its token FTT has caused huge loss of people.

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By far the most scammed is ALT Coin. Still people are more interested in investing in these coins. While ALT coins are scams, there are some coins that are exceptions. I can only trust BNB for investment, I don't trust the rest of the coins that are out there. If there is any coin worth investing in for the long term after Bitcoin, it is BNB. Other coins are also good for investment but they are for short term for trading we can use ALT coins but for long term investment I will never choose other ALT coins.

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Quote from: Zaichonok on July 17, 2023, 01:57:20 AM

There are so much scams and different kinds of fraud among altcoins. The most important is to check everything befor investing to evaluate the future potential of the coin. Not all the coins will be able to surve. That is why it is important to check how useful this altcoin is to evaluate its future potential and its demand in the future.

Altcoins are a good example of how easily you can fool an investor when presented with a bitcoin-like concept that is a complete vaporware in reality. We dont see much of the newly launched altcoins make any headlines after a couple of years - if you look deeply in the net you will find that they have been on a ghosting mode or making up shit excuses and delaying stuff, in reality they have gone bankrupt and have abandoned the project.

What matters is the lesson learnt from them. Give at least two years to any altcoin project before making your move on it - remember that your money is hard earned.

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Quote from: Rampagoe004 on July 16, 2023, 01:25:31 AM

Altcoins become important as a new development breakthrough for cryptocurrencies. Currently there are altcoins that can be an "alternative" to Bitcoin and have good features such as ADA, BNB, CRO or MATIC. There are many things that can be implemented from ALtcoins.
And on the other hand, sometimes people collect altcoins to get wealth faster and more because we already know that apart from Bitcoin there are many good altcoins that can be many times their initial price.

All the altcoins you mentioned can't be an alternative to Bitcoin, BNB is a nice coin to invest into but not as an alternate to bitcoin instead you should invest in it because it has big potential as it just had a recent burn of circulating supply which will help the token to increase to new prices when the bull market starts officially, BNB is one of the good altcoins to invest into.
BNB is controlled by Binance exchange and although they said their blockchain is decentralized but we all know that's a lie because if there was to be an attack on a project on their blockchain. They'll do everything possible to prevent the hackers from been successful and that might include halting the blockchain. And only centralized blockchain can be paused because they're been controlled so don't think BNB is fully decentralized.
Altcoins create wealth but they also destroy wealth when you invest in the wrong projects or you made investment in scams that you didn't realized were scam as of when you were investing. We have many scams as scammers know investors are looking for quick ways to make money and deceiving them to think they have found solution can make them much profits through scams.

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Quote from: timoshani on July 17, 2023, 02:23:31 PM

You can also invest in an NFT project, which can also be profitable. But the named lucky ones in trade are 0.5-1% of all crypto traders. The rest will not be able to trade such an amount for several tens of thousands of trading operations.

NFT to much risky and many people lost money investing in NFTs and it is hard to say if they will be able to restore their loses. I thin that it is better to invest in Ethereum to have less risk. Now it is a good time for investment and many people are waiting for the rise of the market and Ethereum will rise too.

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Quote from: Xal0lex on July 17, 2023, 10:12:46 AM

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Quote from: Xal0lex on July 11, 2023, 12:21:57 PM

What attracts people to altcoins is their generosity when it comes to spending their time in exchange for tokens or investing $100 and getting $10,000 in profit. In this respect, altcoins are much better than bitcoin and that's why they attract a huge number of users. In cryptocurrency people, in the main, come for earnings. It is quite difficult to make money with bitcoin, it is slow and expensive in terms of growth potential. Altcoins are more flexible in this respect and are more suitable for all kinds of speculation and quick enrichment.

I do not think that it would be common to make that type of profit, and it is rare for anyone to get that type of return as well. Not only we have very few tokens that go up like that, we also have very few people that get in at the bottom and get out at the top like that as well.

So all in all the reason is not that because people make that type of profit differently, and it is not going to be easy neither, we are not going to end up with a terrible situation, it's going to end up a bit different. Of course this is going to end up with a bit of trouble but at the end of the day you could still do that and I believe that's what people like in this situation, they like that there is a potential of making that kind of return.

I agree with you that a very small percentage of investors can make a profit of $10,000 with a deposit of only $100. But it is worth considering that it is impossible to get such profit in bitcoin, unless you are engaged in trading or margin trading. You can get such profit in altcoin sector by participating in various activities, such as retrodrops or testnet. The chance is minimal, but it is there.

You can also invest in an NFT project, which can also be profitable. But the named lucky ones in trade are 0.5-1% of all crypto traders. The rest will not be able to trade such an amount for several tens of thousands of trading operations.

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Quote from: petulino on July 16, 2023, 10:17:29 AM

Quote from: KingsDen on July 16, 2023, 02:29:09 AM

I am not skilled about altcoin investment but I wish to have little experience to do some kind of portfolio diversification. All I do is bitcoin long term investment and it gives me peace of mind because I wouldn't need to be checking bitcoin everytime nor do I need to close monitor my portfolio.

There is no doubt that Bitcoin is the king of all crypto currency markets. Most of the people who have good capital invest in Bitcoin, and for the long term it is a good investment. I think investment in altcoin is a good option for people who have less capital. Where with less investment they can earn a good profit. According to my opinion those who have more capital should invest in small coins along with Bitcoin, because this way you can increase your profit rate. There are many good projects in the market right now where you can choose good coins after research. So altcoins should not be ignored. There are many coins that have the potential to give a good profit in the future.

Having a much lesser capital is actually not a problem as everything have a start, the important thing is that you made a research before investing to your preferred coin because in this way, even if the profits is not guaranteed, your risks are minimized as you have studied it well and choose the right coin which will give you the profits that you wanted while only engaging in a much lesser risks. But if you're that someone who is looking for a short term investment or do have a small capital, I agree that altcoin section will be more suited for you.

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Quote from: TastyChillySauce00 on July 13, 2023, 11:17:21 AM

Altcoins being used mostly for speculation purpose. The fact that if altcoin is also having another usefulness like give native coin user a cheap way to send their money. I remind you how expensive the bitcoin and ethereum transactions are. That's why altcoin gives alternative way for people to send or receive their money with lesser fees compared used native blockchain like bitcoin or ethereum.

They're all experimental grounds meant to test the Blockchain's capabilities/limitations. Without them, BTC would've been full of issues by now. I know BTC maximalists prefer to have only one Blockchain, but this simply can't be done. Especially when you need to meet the demands of everyday users. If you scale BTC to the masses, it would become extremely-centralized.

That's where altcoins come in. They're cheap, fast, and full of new and untested features. Most people don't care about the tech, as they're only focused on the profits. While altcoins bring huge profit opportunities, they can also go all the way down the drain in an instant. With BTC, there's less risk involved. Crypto is just getting started, so expect to see more altcoins emerge in the future. Just my thoughts Grin

Topic: Why are altcoins important? - page 15. (Read 3361 times)