AltCoin Newbie

[donkey04]

Hello Everyone, I'm very new to Altcoins, Cryptocurrencies In General. I'm Looking for someone's advice that has been around for a while to kind of give me some tips or pointers on how to spot legit coin's, what to look for before investing. Really just any guidance on a basic level would be greatly appreciated.

[jlanzago]

The best suggestion I can make to you is actually investigate what the project is all about, the current stage of development, the team and the valuation. Also: read the whitepapers, they are usually informative.

Do not rely on the so-called "influencers" because only a handful of them are legit. Most are paid shills, and this includes some famous ones that have wide following. Some of them have shown important conflict of interest. Most invest first, then recommend and start shilling the altcoin to everyone, they create "hype" and most people just follow them blindly. They profit from that. Don't make that mistake.   

[shinratensei_]

Hello Everyone, I'm very new to Altcoins, Cryptocurrencies In General. I'm Looking for someone's advice that has been around for a while to kind of give me some tips or pointers on how to spot legit coin's, what to look for before investing. Really just any guidance on a basic level would be greatly appreciated.

You can try to start joined on the trusted communities, i suggest you to only use icodrop as your icolist site. It's the only reliable site in my opinion and never tries to use another icolist because the majority of them are paid to promote. This based on my experience. And then you should learn a lot about how to analyze the whitepaper, community, hype, and the code.

[JaekRock]

Google searches a coin market capitalization ranking site and picks the top 20 coins you like. This is the easiest way.

I was going to suggest something like this.  Just start at the top of a market cap list and start researching your way down.  They're not necessarily all long term investments or anything, but they're on the top for a reason and as good a place to start as any.   You're bound to figure out what cases you're drawn to and can dive into other coins in similar use cases to compare.  Good luck!

[Octc76]

Hello Everyone, I'm very new to Altcoins, Cryptocurrencies In General. I'm Looking for someone's advice that has been around for a while to kind of give me some tips or pointers on how to spot legit coin's, what to look for before investing. Really just any guidance on a basic level would be greatly appreciated.

Hi donkey04 ..
I'm still same with you. I am also new in this crypto world.
but based on my experience, if you want to invest in ICO. the team of a project is the most basic that should be good in developing the project. of course an experienced team will be able to make the coins become legit. not only that, they will be able to make their product really useful as it should be.
so, first identify the team of a project to be able to determine which coins can be legit.
But if you want to invest in an existing coin, we need to review the roadmap to see the progress of a project. because, it is very important the development of a project for price stability or the other.
That's just my opinion.
Good luck Friends !!!

[cryptotenoy]

The best suggestion I can make to you is actually investigate what the project is all about, the current stage of development, the team and the valuation. Also: read the whitepapers, they are usually informative.

Do not rely on the so-called "influencers" because only a handful of them are legit. Most are paid shills, and this includes some famous ones that have wide following. Some of them have shown important conflict of interest. Most invest first, then recommend and start shilling the altcoin to everyone, they create "hype" and most people just follow them blindly. They profit from that. Don't make that mistake.   

Invest on coins that are already listed on the coin market capitalization because they are all legit.Take time to do some research if they are already available in legit exchangers.You will earn big profit if you do invest in cheap coins but high potential to grow its value in the market.

[MinerHQ]

Google searches a coin market capitalization ranking site and picks the top 20 coins you like. This is the easiest way.

If one doesn't know how to research whether a coin is good for long-term or not then better to pick few top 10 coins. But I really don't like this idea because we should know about the use of the coin and what benefits it has in future compared to other coins instead of just picking some of the top coins. As newbie try to stick with bitcoin and eth and start research about other coins first before making any investment.

[2fresh]

Google searches a coin market capitalization ranking site and picks the top 20 coins you like. This is the easiest way.

You'll potentially make less profit when investing in those. It's harder for litecoin to go times 10 than for some new coins to go times 10.

[Ms Nuha]

I would like to say if I am also like you who are beginners in the world of crypto.jika you want to participate in ICO, my suggestion you should do research first, because not all ICO is good and do not promise for your future. if the ICO is good it has a team that has experienced and strong, they will also make or promote its products that really benefit us all.

[udayantha11]

First you read whole Bitcointalk for a week. you can get the good knowledge of alt coins. i also got very good knowledge about this alt coins from this forum.

please do not panic and invest. listen from others but please research by your self

[dollarneed]

Hello Everyone, I'm very new to Altcoins, Cryptocurrencies In General. I'm Looking for someone's advice that has been around for a while to kind of give me some tips or pointers on how to spot legit coin's, what to look for before investing. Really just any guidance on a basic level would be greatly appreciated.

There are so many things that you have to do before investing in a ICO in order to identify whether the project is scam or legit you might following these steps:
1. First of all check the team behind the project by checking their profile on linkedin or something.
2. Read the whitepaper if you find something supicious then don't give your money.
3. Follow all their social media and see their progress, telegram and youtube are recommended.
4. Asking the community.
5. Visit some ICO review sites.

Ps: There is no guarantee that the project is legit or will be successful since scammer will try their best to steal our money.

[deeofficialx]

I think, if you want to invest, invest in a coin that is already in an active market. That is more practical.

But if you want to join an ICO, then, there are some things to consider:
1. The Team.
2. ICO progress.
 How long did they get the softcap? How far from the softcap, etc.
3. The Whitepaper.
 This is one of the main factor to consider. Read and learn about the project.

[antsam]

all I can suggest is look at the people behind the ICO token project, whether they have experience and have a successful project before, learn about their whitepaper. that's my advice, though not a guarantee

[islakevin]

Well i suggest do your own research but check the coinmarketcap buy alts in top 2- top 100 because they are the most safe coin to avoid scam and also when you wanna invest i suggest you to hold it at this time and always buy the dip.

[DrMill]

I myself started by doing research on some of the top 10 coins or tokens from Coinmarketcap.com. That does not necessarily mean I would buy them. Instead, just picked up some names for initial scratch. Then I tried to use available resources such as Google search, websites, news channel, forums, etc. to find relevant information about them and cryptocurrency as well.

With some basic knowledge, I spent small amount of money to buy potential coins that I studied. It's good way to test the water, I think.

After getting small profit and losing a little later, I got better familiar with cryptocurrency in general and some further real knowledge about those targeted altcoin market, now I am free to repeat the process and go with other altcoins. Of course, I'm willing to learn more, and in bad undesirable scenario, accept to get loss.

[Grim149x]

You can also check ICO rating sites such as IcoBench is the like. I personally use IcoBench to spot good altcoins to participate in bounty campaigns and potential investments.

[hani1929]

If you want to  engage in altcoins, maybe you should pick those altcoins that are now in big exchanges, because they are most probably safe. look for the coin that it has been listed for how many years and check their graph for you to understand the coins activity. you can also pick some new coins but you need to learn their project more. you need to check the team behind the team, read their white paper and follow them to all their social medias.

[btj]

You have to make your own searchs and learn more about it.

You can get tradable altcoins from: coinmarketcap, check the market cap, make some searchs about the community around it, history of the coin, vision etc ...

[CryptoBry]

Hello Everyone, I'm very new to Altcoins, Cryptocurrencies In General. I'm Looking for someone's advice that has been around for a while to kind of give me some tips or pointers on how to spot legit coin's, what to look for before investing. Really just any guidance on a basic level would be greatly appreciated.

There are now many sites whose job is to analyze, evaluate and rate any project under the cryptocurrency and altcoin sphere. Scrutinize those sites and their ratings but remember that in many times a rating can also be lopsided as it can be sponsored by the project being rated. Read as many as possible before arriving at any decision. This forum is also a great tool as you can hear many honest views in here. The thing you have to avoid is getting into a scam project though sometimes because we can't see what's behind and what can be then this can unavoidable...just spread your holdings so that the risks are not concentrated in just one basket, as they say.

[Ekosistim]

do a lot read many ico website, and do compare from 1 Project to another Project, for me good ico Project must have a big partner to gain success.