How do I get started with investing in altcoins?

[player514]

Hey guys.

I've put together an okay sum of money in bitcoin and I'm starting to think of ways to grow it. Many people suggested altcoin trading but I have no idea where to start and how much to invest. Can anyone give me a quick overview of where to start or where to find more info?

[Febo]

This forum in Altcoin ANN section  should have quite a lot of infos and more important quite a lot of links.
This page is useful with nice ranking  considering development, community and public interest.  https://www.coingecko.com/en ofcourse everyone monitor alts on this page https://coinmarketcap.com/
Investing in altcoins is a full time job because of sole reason that there are so many and progress goes on so fast. Not to mention that many are there just to make profit for creators.

There are constantly some ICOs, Sort of a crowdfunding for crypto projects. With them you need to be super careful since are not crypto coins, but an asset. Product they will deliver is what makes worthiness to that asset.  Most ICOs price usually sink under ICO price a week after hit exchanges and only a bit latter start grow over. So basically participating in ICOs is not that smart.  But on other hand there was MELON ( i hope i posted right name) ICO that lasted only few minutes. Doubt those guys will sell their  asset that cheap as they acquire it in the ICO.

Research Read Research Read Research Read.


On other hand there will be soon investment platforms where it will be easier for those that dont really care to invest in crypto. Platform managers will cut some not prospective project out. And will be easier to chose where to invest and more simple spread among many different projects.   Question is when this will go live. ICONOMI should start in December, now we are March and I dont think they give final answer when will launch start.

[player514]

This forum in Altcoin ANN section  should have quite a lot of infos and more important quite a lot of links.
This page is useful with nice ranking  considering development, community and public interest.  https://www.coingecko.com/en ofcourse everyone monitor alts on this page https://coinmarketcap.com/
Investing in altcoins is a full time job because of sole reason that there are so many and progress goes on so fast. Not to mention that many are there just to make profit for creators.

There are constantly some ICOs, Sort of a crowdfunding for crypto projects. With them you need to be super careful since are not crypto coins, but an asset. Product they will deliver is what makes worthiness to that asset.  Most ICOs price usually sink under ICO price a week after hit exchanges and only a bit latter start grow over. So basically participating in ICOs is not that smart.  But on other hand there was MELON ( i hope i posted right name) ICO that lasted only few minutes. Doubt those guys will sell their  asset that cheap as they acquire it in the ICO.

Research Read Research Read Research Read.


On other hand there will be soon investment platforms where it will be easier for those that dont really care to invest in crypto. Platform managers will cut some not prospective project out. And will be easier to chose where to invest and more simple spread among many different projects.   Question is when this will go live. ICONOMI should start in December, now we are March and I dont think they give final answer when will launch start.

Hm, very interesting information! I will definitely take a look at those links you sent. I have one small question. You said that investing and trading altcoins is like a full time job. Do you think then that if I do not have enough time to put into it that I should not do it?

Thank you for the great info!

[Febo]

This forum in Altcoin ANN section  should have quite a lot of infos and more important quite a lot of links.
This page is useful with nice ranking  considering development, community and public interest.  https://www.coingecko.com/en ofcourse everyone monitor alts on this page https://coinmarketcap.com/
Investing in altcoins is a full time job because of sole reason that there are so many and progress goes on so fast. Not to mention that many are there just to make profit for creators.

There are constantly some ICOs, Sort of a crowdfunding for crypto projects. With them you need to be super careful since are not crypto coins, but an asset. Product they will deliver is what makes worthiness to that asset.  Most ICOs price usually sink under ICO price a week after hit exchanges and only a bit latter start grow over. So basically participating in ICOs is not that smart.  But on other hand there was MELON ( i hope i posted right name) ICO that lasted only few minutes. Doubt those guys will sell their  asset that cheap as they acquire it in the ICO.

Research Read Research Read Research Read.


On other hand there will be soon investment platforms where it will be easier for those that dont really care to invest in crypto. Platform managers will cut some not prospective project out. And will be easier to chose where to invest and more simple spread among many different projects.   Question is when this will go live. ICONOMI should start in December, now we are March and I dont think they give final answer when will launch start.

Hm, very interesting information! I will definitely take a look at those links you sent. I have one small question. You said that investing and trading altcoins is like a full time job. Do you think then that if I do not have enough time to put into it that I should not do it?

Thank you for the great info!

I mention that will sooner or latter start investing platforms like ICONOMI. I guess you will go there and take one package, where will be 10 or 20 alts inside. and drop Bitcoins there. Some of those alts will be successful some not. It will work similar as investment founds in old economy. nothing new. Ofcourse that will not bring anything close to optimal profit.

Take it as a hobby. You dotn need to  know just everything. go slow. Learn of some crypto. See which have strong development. Speculate, what will world need in future and if that crpto is solving that problem. understand that Bitcoin is here to stay for at least few more years. So think what Bitcoin cant give us and some other altcoin will need to fill that niche.


At end, whatever you do, there is no rush. You will not miss anything if you will not buy any alt in next month or in next 3 months.

[Rockie1234]

Here are a few tips that hopefully help:

1) Make a habit to go on coinmarketcap.com every day and monitor the price of the top 10/20 currencies
2) Explore the communities of the coins that you like the idea of and make sure they are ACTIVE.
3) Go on the Investor based games of this forum and train yourself to spot the scams: HYIP, Ponzis and so on.
4) (Optional) Learn some technical analysis and trade on an exchange such as Bittrex or Poloniex.

[NUFCrichard]

Research Read Research Read Research Read.

Guess, hope, expect it to be a scam, don't hold long term. They seem like decent rules too!

The best altcoins aren't neccesarily the most valuable ones, they are just the ones that have been picked up by a community and were added to good exchanges.

I would add, don't expect that a coin will eventually be valuable just because it is a good coin, i.e. not premined, fairly mined, good coding etc. You will end up disappointed a lot of the time otherwise!

[rafajunior99]

I think if you want to invest in ICO pililah wetrust or edgeless, I think that they are the ICO already looks good and has a future for your investment, you need to know about it. but if you have the wrong decisions in selecting the ICO to invest would be futile for it, because I think a lot of people to make the ICO only to make his own and not serious to run it.

[player514]

Research Read Research Read Research Read.

Guess, hope, expect it to be a scam, don't hold long term. They seem like decent rules too!

The best altcoins aren't neccesarily the most valuable ones, they are just the ones that have been picked up by a community and were added to good exchanges.

I would add, don't expect that a coin will eventually be valuable just because it is a good coin, i.e. not premined, fairly mined, good coding etc. You will end up disappointed a lot of the time otherwise!

Thanks for this tip! Yes, I have noticed many people getting screwed over by this mentality. I guess the way I plan on approaching it is kinda like a form of gambling where depending on the research I do and the time I allot to trading can increase my chances of "winning."