The only takeaway from my crypto journey is that the investor needs to be keen while selecting a project. We need to keep aside the positive points presented by the company while marketing their project and to investigate the reciprocals by ourselves so, that we don't get trapped.
Almost all coins in this market of cryptocurrencies are at risk except for one Bitcoin. Bitcoin is decentralized and all other coins that exist are centralized. They can scam the cryptocurrency any time after building up the hype in various ways. There are many such examples. In recent times FTX not only destroy investors life but also many others altcoins in its history including Luna Crash. So investors should be well researched when they want to invest any altcoins. As it is a risky market, an investor should venture with risk. 
Topic: Why you should be very careful with alts - page 3. (Read 922 times)
Many altcoins are profitable at the beginning, but over time they end up being scams, and most of the altcoins in the market end in failure. To avoid losing a lot of money and risk, investing in Bitcoin can be more profitable than investing in altcoins.
It needs to be pointed out that the majority of altcoins that scam their investors do not become scams, they were scams from the beginning, the people that were behind them never had any intention of actually developing a coin which could become successful.The whole idea was to enrich themselves and try to maintain the charade for as long as possible just to make even more money while they can, and unfortunately despite the scam being so obvious there are still many newbies that fall for it and lose their money.
The only takeaway from my crypto journey is that the investor needs to be keen while selecting a project. We need to keep aside the positive points presented by the company while marketing their project and to investigate the reciprocals by ourselves so, that we don't get trapped.
Now a days as I have seen that many projects are doing scam as I can say the they are taking the benefit of the bear market and through their ICO's, IEO's and sales etc. . They are taking people money and at the time of listing, they delayed and taking the name of the bear market even though many of them are scam ones.
the current reality is that many projects are carried out only to raise funds for self-interest, not for the purpose of developing the project. They know that at this time it is indeed difficult to gather investors for every project that will be carried out, but they keep going and if the funds collected from investors are not reached, they will easily disappear without a trace.We don't need them and so they're useless/scam projects. That is why we should be wise enough to choose a project to invest in.
Now a days as I have seen that many projects are doing scam as I can say the they are taking the benefit of the bear market and through their ICO's, IEO's and sales etc. . They are taking people money and at the time of listing, they delayed and taking the name of the bear market even though many of them are scam ones.
the current reality is that many projects are carried out only to raise funds for self-interest, not for the purpose of developing the project. They know that at this time it is indeed difficult to gather investors for every project that will be carried out, but they keep going and if the funds collected from investors are not reached, they will easily disappear without a trace.We don't need them and so they're useless/scam projects. That is why we should be wise enough to choose a project to invest in.
Now a days as I have seen that many projects are doing scam as I can say the they are taking the benefit of the bear market and through their ICO's, IEO's and sales etc. . They are taking people money and at the time of listing, they delayed and taking the name of the bear market even though many of them are scam ones.
the current reality is that many projects are carried out only to raise funds for self-interest, not for the purpose of developing the project. They know that at this time it is indeed difficult to gather investors for every project that will be carried out, but they keep going and if the funds collected from investors are not reached, they will easily disappear without a trace.now you really have to be careful with every new project and don't be easily tempted by the promised value, because when the project can't achieve what you want, it's likely that what was promised will still be fulfilled, but the value you get will be less than what was given, not even a little it's not worth it anymore. Of course this hurts but this is the current reality and everyone can't do anything but always analyze well before getting involved with a new project.
Crypto is a perfect engine for scammers because it's still unregulated and it's also the wild west when it comes to making money quick with less efforts. .
Apart from rugpulls and influencers scam that are very famous with altcoin investment there is one particular side I want you to be much aware of.
Many altcoins you are seeing right now are build on "Make the project, promise the entire world rare utilities and never really deliver anything, they will keep using words and investors will keep hoping.
They deliver small updates only to push the price higher.
They spent hours live streaming almost everyday.
They trust hype more than anything and a finished product will ruin it.
Keep a track of your altcoins regularly and once you see the slackness in the team it's safer to switch.
Many altcoins are profitable at the beginning, but over time they end up being scams, and most of the altcoins in the market end in failure. To avoid losing a lot of money and risk, investing in Bitcoin can be more profitable than investing in altcoins. Apart from rugpulls and influencers scam that are very famous with altcoin investment there is one particular side I want you to be much aware of.
Many altcoins you are seeing right now are build on "Make the project, promise the entire world rare utilities and never really deliver anything, they will keep using words and investors will keep hoping.
They deliver small updates only to push the price higher.
They spent hours live streaming almost everyday.
They trust hype more than anything and a finished product will ruin it.
Keep a track of your altcoins regularly and once you see the slackness in the team it's safer to switch.
This topic makes me remember my experience with a project from ICO era. I joined their signature campaign and promoted their product. And even bought some. They promised to deliver mobile application to sell goods. It sounded like good idea to me but I realized there were no devs, there was no app, there was only telegram group a random guy keeps telling "I joined this" and "I joined that". After all coin lost all its transaction, and I realized I wasted my investment. So you should study altcoin projects before investing.
Now a days as I have seen that many projects are doing scam as I can say the they are taking the benefit of the bear market and through their ICO's, IEO's and sales etc. . They are taking people money and at the time of listing, they delayed and taking the name of the bear market even though many of them are scam ones.
A lot of altcoin projects just get funding for their own benefit and leave. Altcoins, while offering the opportunity to make huge profits, are only temporary. If you do not grasp the correct timing of buying and selling, you may lose money.
it is indeed requires analysis and right moment in getting profits from these coins in general, mainly because most of these coins aren't really designed for long term instead you just ride the train and then leaves because at the end of the trend, there's always massive decrease in value because many are investing for good profits but when the project showing no signs of further increase, surely many that have invested will race in dumping their coins and this causes massive decrease. 
Crypto is a perfect engine for scammers because it's still unregulated and it's also the wild west when it comes to making money quick with less efforts. .
Apart from rugpulls and influencers scam that are very famous with altcoin investment there is one particular side I want you to be much aware of.
Many altcoins you are seeing right now are build on "Make the project, promise the entire world rare utilities and never really deliver anything, they will keep using words and investors will keep hoping.
They deliver small updates only to push the price higher.
They spent hours live streaming almost everyday.
They trust hype more than anything and a finished product will ruin it.
Keep a track of your altcoins regularly and once you see the slackness in the team it's safer to switch.
Apart from rugpulls and influencers scam that are very famous with altcoin investment there is one particular side I want you to be much aware of.
Many altcoins you are seeing right now are build on "Make the project, promise the entire world rare utilities and never really deliver anything, they will keep using words and investors will keep hoping.
They deliver small updates only to push the price higher.
They spent hours live streaming almost everyday.
They trust hype more than anything and a finished product will ruin it.
Keep a track of your altcoins regularly and once you see the slackness in the team it's safer to switch.
I guess you have had a taste of such altcoins as well
But to be honest whatever you said is absolutely true.Altcoins are the riskiest asset since our investment will completely depend on how the project team is doing about the project.
One mistake can potentially risk our money to go down the drain which is why we should research very well about what we invest in.
Investing is established projects (top 10 in marketcap) with potential growth and a strong team should be the ideal choice.
Alarmingly, scam projects are becoming more increase in the crypto world. The project you thought that has good utilities and good team management these days always turns out to be a scam. It is currently challenging to tell a legitimate project apart from a scam project. In the unlikely event that you come across a promising project, it won't have enough investors to advance and won't be able to compete in the cryptocurrency market.
The entire altcoin market, outside of bitcoin, is currently too risky to invest in. Even an altcoin that is currently ranked in the top 50 can suddenly drop significantly in price example luna.
Invest in bitcoin to protect your capital, and avoid altcoin controversies that will lead to possible losses.
The entire altcoin market, outside of bitcoin, is currently too risky to invest in. Even an altcoin that is currently ranked in the top 50 can suddenly drop significantly in price example luna.
Invest in bitcoin to protect your capital, and avoid altcoin controversies that will lead to possible losses.
A lot of altcoin projects just get funding for their own benefit and leave. Altcoins, while offering the opportunity to make huge profits, are only temporary. If you do not grasp the correct timing of buying and selling, you may lose money.
Crypto is a perfect engine for scammers because it's still unregulated and it's also the wild west when it comes to making money quick with less efforts. .
I say NOT really a perfect engine for scammers but we can't deny that it was one tool for them to fool people and take advantage of the situation as they can be anonymous. Yet, many scammers have been captured and put in jail while using cryptocurrencies and it was because of the participation of the community. I see that people are not learning how these scammers do, yet some people still fall into their hands because of their greed. Generally, they are now cautious with their actions and decisions when it comes to choosing coins to invest with.
All in all, you are not going to stop people from lying to get more. That is the nature of humanity and it will continue to do so until end of times. I am guessing that the best thing we could do right now would be just focusing on ourselves and how to prevent getting scammed.
Any crypto project is risky. There are only a few altcoin projects that are worthwhile and can develop in the long term, and these altcoins may make huge profits here in a short period of time.
Most altcoin projects eventually turn into scams over time, and many investors can fall victim to it and lose a lot of money.
That's why when pandemic came, I stop buying some new alts because I know most of them will collapse, especially those project whk doesn't have a solid marketing and strategic plans. A project witout a strategic plan for during these times are not too worth to invest with. I will make a deep research about everything before buying not because some influencers bought it or someone tweeted it. Most altcoin projects eventually turn into scams over time, and many investors can fall victim to it and lose a lot of money.
And many times you will not receive any logical explanation at all and instead you will listen to their wishful thinking about how the coin they picked will grow 100x or even 1000x for no reason at all, and when you face that situation there is nothing you can do as it is impossible to convince those investors about the huge mistake they are making by doing this.
Any crypto project is risky. There are only a few altcoin projects that are worthwhile and can develop in the long term, and these altcoins may make huge profits here in a short period of time.
Most altcoin projects eventually turn into scams over time, and many investors can fall victim to it and lose a lot of money.
Sure, no crypto project is 100% safe/secure. Even, top crypto projects can fail, FTX is the perfect example of this.Most altcoin projects eventually turn into scams over time, and many investors can fall victim to it and lose a lot of money.
However, altcoins offer the opportunity to earn huge profits because they have big volatility. Altcoin prices can change drastically in a short time whenever there is good news. It is a bit different with Bitcoin, the price increases gradually and it rarely changes drastically like altcoin prices. I assume, only BTC halving that can BTC price increase very significantly.
Yep, there are many investors who lose their funds because they invested in the wrong projects. Most of them lose funds through new crypto projects, they bought the tokens in IEO or ICO phases. This is a serious warning that we must be very very careful to choose crypto projects. If they look unconvincingly, it is better to ignore/avoid them.
Any crypto project is risky. There are only a few altcoin projects that are worthwhile and can develop in the long term, and these altcoins may make huge profits here in a short period of time.
Most altcoin projects eventually turn into scams over time, and many investors can fall victim to it and lose a lot of money.
That's why when pandemic came, I stop buying some new alts because I know most of them will collapse, especially those project whk doesn't have a solid marketing and strategic plans. A project witout a strategic plan for during these times are not too worth to invest with. I will make a deep research about everything before buying not because some influencers bought it or someone tweeted it. Most altcoin projects eventually turn into scams over time, and many investors can fall victim to it and lose a lot of money.
True. However, the market as a whole has recently decayed. Projects only come to raise funds and then leave. They don't actually give a shit about investors. On the other hand, delivering product does not always help. Because I've seen a few projects deliver the product they promised, but investors don't care; they sell tokens and move on. Some investors even sell their tokens at a loss. How will you keep them at bay? Today's investors' mindset has shifted. They believe in quick profits and sell tokens. As a result, even good projects crash immediately after launch on decentralized exchanges, rendering them unrecoverable. As a result, the intentions of investors and projects have changed. Everyone only considers quick money.
This is because the investors themselves are absolutely not interested in the product itself. The main reason for their participation is banal speculation and nothing else. This is the reason why various game projects, metaverses, social and other projects have difficulties and their tokens quickly depreciate. Investors are not interested in their product, they come there only to withdraw liquidity and then start looking for a new young project that can give a good profit.
Any crypto project is risky. There are only a few altcoin projects that are worthwhile and can develop in the long term, and these altcoins may make huge profits here in a short period of time.
Most altcoin projects eventually turn into scams over time, and many investors can fall victim to it and lose a lot of money.
Most altcoin projects eventually turn into scams over time, and many investors can fall victim to it and lose a lot of money.
Crypto is a perfect engine for scammers because it's still unregulated and it's also the wild west when it comes to making money quick with less efforts. .
I say NOT really a perfect engine for scammers but we can't deny that it was one tool for them to fool people and take advantage of the situation as they can be anonymous. Yet, many scammers have been captured and put in jail while using cryptocurrencies and it was because of the participation of the community. I see that people are not learning how these scammers do, yet some people still fall into their hands because of their greed. Generally, they are now cautious with their actions and decisions when it comes to choosing coins to invest with.
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