Topic: Why you should be very careful with alts - page 5. (Read 922 times)
I think OP is pertaining to the altcoins that are born during the bull market. Let's be honest, Majority of the altcoin that are made during the bull market are now dead and has low to zero value today. The altcoins that are created during bull market are mostly hype driven and we have seen a lot of rug pulls more than ever in the history of crypto and addition to that is projects are hugging influencers partnerships rather than project development which is the opposite of successful crypto project.
Keep a track of your altcoins regularly and once you see the slackness in the team it's safer to switch.
Investing in altcoins isn't a bad idea but investing in new projects is a different story and riskier. As an investor, we need to learn how to assess the projects before investing if we need to avoid losses. Scam projects are flooded in the market which is why we should be careful and cautious with them, especially for hyped projects.
This is very true. Investing and taking a risk is really different if you know what you are doing. Taking a risk to buy an altcoin that is not really profitable and useless in the future is just a waste of money, and investing is really the key to success and could earn you big if you invest in the right altcoin that has the active team and still on the development of a very long time like ETH except Bitcoin of course..
Many do not take into account a very important point about altcoins. This is a very big advantage that altcoins have. A very important point is that altcoins usually have a relatively low price and it is much easier to raise such a price, and I repeat once again that it is much easier to raise such a price and not many people take this into account, and this is a very important advantage! Therefore, those who do not speak very well about altcoins, they simply do not understand well what their advantages are. Of course, a lot undoubtedly depends on the project itself, because if the project is abandoned, then there is no sense in it. Therefore, yes, caution does have an important role when choosing projects.
Indeed, altcoins can be very profitable for their holders if used correctly and appropriately. Moreover, many altcoins are used by whales to gain profits.We as swords can take altcoins that have the potential to increase in price and sell them before the pope or the person holding the most coins sells all of their assets. I admit it is not easy to be able to do that.
A trader must really look at and analyze prices from start to finish, not to mention still have to determine the location of the price when buying or selling it appropriately.
However, vigilance and caution remain the most important points in order to avoid the risk of losing large amounts of money, because trading altcoins has a greater risk than buying a coin with good fundamentals like Bitcoin.
Keep a track of your altcoins regularly and once you see the slackness in the team it's safer to switch.
Investing in altcoins isn't a bad idea but investing in new projects is a different story and riskier. As an investor, we need to learn how to assess the projects before investing if we need to avoid losses. Scam projects are flooded in the market which is why we should be careful and cautious with them, especially for hyped projects.
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.
Yes, this is all true. Most of the owners of scam projects make many promises and great goals to attract investors and gain their trust. Investors will continue to hope for many years, and in the end, the finished product of the project will ruin it, the altcoin will collapse, the project will fail completely, and investors’ money will be lost and their hopes will be destroyed. Therefore, the altcoin project team is among the most important factors that we must take into account before investing in any altcoins, because if a team is not honest with its promises and does not have sufficient experience, and is reckless, then we can immediately switch to any altcoins, so this decision will be safer. 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 do not take into account a very important point about altcoins. This is a very big advantage that altcoins have. A very important point is that altcoins usually have a relatively low price and it is much easier to raise such a price, and I repeat once again that it is much easier to raise such a price and not many people take this into account, and this is a very important advantage! Therefore, those who do not speak very well about altcoins, they simply do not understand well what their advantages are. Of course, a lot undoubtedly depends on the project itself, because if the project is abandoned, then there is no sense in it. Therefore, yes, caution does have an important role when choosing projects.
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.
Well, if we talk about being careful with altcoins, then this should probably also be attributed to Bitcoin, since the main cryptocurrency also often has a large price volatility. However, if we talk about value, then BTC is definitely the leader here, although some of the altcoins still manage to bring good profits to their holders, well, if you know when to sell and when to buy. As for the release of new altkins, yes, there is a very bad trend when altcoins are created simply to raise funds, which of course negatively affects the development of the crypto market and the attitude of the community towards it. As a result, we all have to be more careful when choosing altcoins for investment, especially when it comes to new crypto assets. I really want to believe that the situation in the crypto market will change for the better and successful altcoins will also appear on the market.
Most of the Altcoins I know in Cryptocurrency are scams. But there are many projects that are very good and the least likely to be a scam. Scams are especially rare on Ethereum platforms. If you are interested in investing in altcoins then it is better to look for good coins to invest. But the current situation is that investing in Bitcoin is definitely more profitable than investing in crypto. As the market is currently in a very bad state, it is better to invest in Bitcoin at this time.
Buying other than Bitcoin is the right decision, compared to you having to buy thousands of alts that are spread all over the world, Bitcoin is everyone's main standard, instead of having to buy Alts which don't necessarily make you a billionaire, instead you will experience quite a big loss , so for now it's not right for us to buy Alts on several exchanges, even the top or lowest Alts, only one if you want to buy, namely Bitcoin.
Altcoins in a nutshell. Crypto is the perfect place for scammers since a lot of people can be considered new since the crypto scene is still pretty young. Not to mention that crypto is well known outside to be accessible even by younger people, unlike with say, stocks, lands, etc., which seem too complicated and can be considered as the playground of adults instead of young people.
Well, your best bet, if you want to enter the altcoin market, is to have a bunch of experience under your belt, and a lot of time to scrutinize a project. Otherwise, I'd just DCA Bitcoin really. It wouldn't bring as big of a profit as you can get in altcoins, but it's less risky compared to it, and no need to handle it since it's a plan to hold for the long term as well.
Being a newbie doesn't give anyone the right to be foolish enough to get scammed. If you are scammed in a techie way that is understandable, download metamask from somewhere wrong, or connect your metamask to a dangerous website etc etc, these are all tech related and it would be normal for a newbie to get hacked or scammed that way and lose their money.Well, your best bet, if you want to enter the altcoin market, is to have a bunch of experience under your belt, and a lot of time to scrutinize a project. Otherwise, I'd just DCA Bitcoin really. It wouldn't bring as big of a profit as you can get in altcoins, but it's less risky compared to it, and no need to handle it since it's a plan to hold for the long term as well.
However, if we are talking about some random person pm'ing you and offering you a great chance to make 10x return on your investment in a month or two, and you believe that it is true because they show you some screenshots as proof, and then they take your money and block you and leave? That is %100 your own fault.
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Well fiat is still also being used by scammers. Fiat is regulated but it is still being used by scammers. See those call center scammers that are calling older people just to scam? They sometimes do the scam both using crypto and fiat. I know the topic is all about project and stuff, but people should be at least aware that any means to pay could be also used to scam people.About the projects, well expect a lot lazy devs to milk these since they think that they are doing unique, but in reality, they're not.
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.
Many developer teams are doing this and most of them are creating shit projects again and again with a different name and different fake teams. This always happens and they always make big promises that are too good to be realized. Their main victims are the newbies that are easily believing on what their promise. It's really hard to believe in something like this that emphasizes pump and dump hype, but it's strange that there are still many people who are always caught in a trap like this, even some of them already know and can't be said to be beginners anymore. APY that doesn't make sense when it's clear that it's something impossible but they still fall into the trap.
Keep a track of your altcoins regularly and once you see the slackness in the team it's safer to switch.
This is too much of a waste of time to see almost every day maybe even every hour there is a new project on altcoins and can we find at least 1 good one a day? in this case even if there is but how much time we waste on it.I personally prefer to be in a certain place and staying in bitcoin is a very sure thing for me than having to spend hours on something that is not very clear.
There's many scam coins out there, the recent one is LUNA and FTX token.
Those are just two recent examples, but what is clear is that the list is very long especially since almost every day new altcoin are being created. Of course, everyone needs to worry more about altcoin because so far altcoin have actually made the industry seem unreliable. His reputation was so bad, it impacted the entire industry.Scams will never go away, altcoin projects are one of the fields for developers to scam people. Avoid it more often, and turn your attention to bitcoin. I'm not going to generalize everything, but the some of them is same, especially about altcoin that are being developed.
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.
It always does happen in almost most of the new altcoin projects currently. Although it has been told for so many time but still people are struggling to even filter which one is worth to invest for new "altcoin projects" in current year, always repeat the same mistakes. Not to many mention the bounty hunters just blindly promote the projects without any research at all.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.
Once the admin or the team of that desired projects are inactive on one or all of the social medias then that's a red sign for us.Keep a track of your altcoins regularly and once you see the slackness in the team it's safer to switch.
Correct 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.
Despite of reminding these and that, it seems that investors somehow wouldn't quit of taking chances in order to get profit. For them it's like gambling and not really an investment since there's this high risk, high reward chances but also high risk of losing everything you have.There are handful altcoins out there that has really had a real value and usefulness but there are also altcoins that is driven by pump and dump category. It's hard to predict which coin you have to invest that would really give you a decent profit after investing but you should do your own research after all to avoid the scammers.
It's important to be careful because there are literally thousands of Altcoins, and we may be more familiar with some of the more popular ones like Bitcoin and Ethereum, but there really are a lot of choices.
And before you invest in an altcoin, you should research your options very carefully, and don't assume that the coin with the most stress is the best one to invest your money in.
a lot of altcoins that end up being a scam and there are also profitable altcoins especially the top ones and also the oldest ones so a word of caution really applies to altcoins especially the new ones.
Projects are the one being a scam and altcoins released in the market are simply failing. But the idea is there; not all altcoins are succeeding in this industry; some are profitable to invest and majority are not. Some would have huge popularity at first but eventually it would fade because of the sustainability of the project itself. Many projects are being released on a weekly basis and not all of these altcoin generating projects are profitable to invest so doing a research on it would really help as you have advised.And before you invest in an altcoin, you should research your options very carefully, and don't assume that the coin with the most stress is the best one to invest your money in.
a lot of altcoins that end up being a scam and there are also profitable altcoins especially the top ones and also the oldest ones so a word of caution really applies to altcoins especially the new ones.
Altcoins are indeed decieving; from their concept and utilities.Many projects would be appealing on our eyes but if things or rewards are unrealistic, one should doubt already given the ratio of paying or legitimate altcoin projects to the paying ones, would show a huge difference against rewarding altcoins.
It's important to be careful because there are literally thousands of Altcoins, and we may be more familiar with some of the more popular ones like Bitcoin and Ethereum, but there really are a lot of choices.
And before you invest in an altcoin, you should research your options very carefully, and don't assume that the coin with the most stress is the best one to invest your money in.
a lot of altcoins that end up being a scam and there are also profitable altcoins especially the top ones and also the oldest ones so a word of caution really applies to altcoins especially the new ones.
And before you invest in an altcoin, you should research your options very carefully, and don't assume that the coin with the most stress is the best one to invest your money in.
a lot of altcoins that end up being a scam and there are also profitable altcoins especially the top ones and also the oldest ones so a word of caution really applies to altcoins especially the new ones.
Altcoins in a nutshell. Crypto is the perfect place for scammers since a lot of people can be considered new since the crypto scene is still pretty young. Not to mention that crypto is well known outside to be accessible even by younger people, unlike with say, stocks, lands, etc., which seem too complicated and can be considered as the playground of adults instead of young people.
Sad but true, when I entered crypto before, alt is not starting to take off, but there are money to be made like in bounty or airdrop. But as soon the scammers get a hold of the market, it's very difficult to moved not. Everyone is scamming everyone, hackers are in the ecosystem.
Well, your best bet, if you want to enter the altcoin market, is to have a bunch of experience under your belt, and a lot of time to scrutinize a project. Otherwise, I'd just DCA Bitcoin really. It wouldn't bring as big of a profit as you can get in altcoins, but it's less risky compared to it, and no need to handle it since it's a plan to hold for the long term as well.
Yeah, Bitcoin could be less risky but it's a sure way to make profit in the future. I have nothing against altcoins, but as the title says, we need to be very careful not to fall for scam projects or those who are just being used for pump and dump.
Generally, it was a dirty tactic from scammers and they will do their best to lie to the community and give false hope to the believers. But, I don't understand why many people still don't see it or just ignore the things that they are investing in most likely a scam project.
I don't know if this was really a practical idea or not, "investing in hyped projects". I'd see people continuously giving their support to this kind of project, I don't know what they expect from these coins but we can't hide the truth also that it sometimes gives them more profit than known coins like Bitcoin.
I don't know if this was really a practical idea or not, "investing in hyped projects". I'd see people continuously giving their support to this kind of project, I don't know what they expect from these coins but we can't hide the truth also that it sometimes gives them more profit than known coins like Bitcoin.
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