Different type of altcoins have their season which attract scammers be watchful

[Alexandr Kirichenko]

You can't denied the fact when altcoins are at their best, bitcoin's ROI during that same period can't be compared to that of altcoins. I preach investing in bitcoin (i.e hodling) but trading altcoins to get more bitcoin. My jounery in the space is all about accumulating more bitcoin for the future as the limitation of supply would be a major advantage in the future. It's better you ignore the small profit for future bigger gains although that's specifically recommended for just bitcoin so you can call me a bitcoin lover but I'm definitely not a maximalist.

On the other hand, the altcoin market is filled with opportunity to experience what it felt like investing in bitcoin during it's early days. You can't be in the industry and not experiment with altcoins, if you don't than you're missing something bitcoin currently can't give you.

Quite true. But behind this lies the reason that many fall into fraudulent schemes.  The thirst for profit and the opportunity to get a large number of x's from the project captures people.

[upyem2k]

No matter what the season may be, the scammers are always available to manipulate the newbies to steal from them. And as regards altcoins investment, no matter what the season is, investing in Bitcoin and ethereum is the best and most secured investment anyone can go into.

[Moiyah]

That’s the way it is, the more products, services or new trends flourishing, the more SCAMMERS is attracted to it. As we see how crypto indemand today, it also magnet the scammers to deceive and trick people who is greedy and lack or few knowledge about altcoins. Being precautious in what you are joining, will not put you into danger. It is not horrible to try various other altcoins but make sure for its standing. Beside btc why not to try other altcoins which is also has a good reputation like, eth, ltc, eos and more. Don’t put your coins to some offers that are too good to be true be vigilant, be wise.

[yazher]

The only problem with these new altcoins, is we cannot have a second chance if the price will suddenly dumped. especially when the price will go down deep. the only safe crypto investment is buying bitcoin. base on its history, when its price will go down deep, there will always a time it will get its price again even higher than the time you bought it. also the second option is ETH,BNB,LTC and XRP because most of the time they will also rise when the bitcoin's price has rised.

[ecnalubma]

Scammers don’t care about season they only care about how much money they can make out of their victims and they don’t choose victims big or small. Even during this bearish period they can still squeeze money, protect your hard earned precious crypto and don’t exchange it to shillcoins and shitcoins.

[CryptopreneurBrainboss]

Scammers don’t care about season they only care about how much money they can make out of their victims and they don’t choose victims big or small. Even during this bearish period they can still squeeze money, protect your hard earned precious crypto and don’t exchange it to shillcoins and shitcoins.

They do as if you're observate they become more active in the bullish season than the bear season. More like they go into hibernation during that period to regroup and come out with new technique when investors are most vulnerable due to greed and zeal to profit from any profitable vehicle available.

The only problem with these new altcoins, is we cannot have a second chance if the price will suddenly dumped.

That's why I always advice they shouldn't be seen as investment options instead as trading opportunities to experiment on. We'll always have altcoins popping up every now and now, some might even have similar aims or claim to be an improved version of the previous so no altcoin can stay dominant forever like bitcoin. Don't consider then as long term investment that's always my philosophy.

[kravas86]

There is no season altcoins. There are times when people with big money want to make even more money. And so they artificially play with the market. They specifically increase the volume of traded coins that people would see positive changes in the market. But it ends very quickly and only whales and scammers who create fake ICO win.

[TheUltraElite]

Scammers don’t care about season they only care about how much money they can make out of their victims and they don’t choose victims big or small. Even during this bearish period they can still squeeze money, protect your hard earned precious crypto and don’t exchange it to shillcoins and shitcoins.

So dont you think we should promote the use of bitcoin more and more and shun the use of shitcoins? There is really no reason to think of altcoins as a saving grace during bitcoin network congestion or short term yields. Use some of the more established altcoins is you are in dire need of transacting or pay a higher fee on bitcoin.

Then about short term gains - those are false hopes and promises given by shills dumping their own coins. Its not new to find bagholders crying in real life while acting like lion on social media to shill their worthless coins. They are not scammer though. The proper term is manipulator and shill as a more colloquial term.

[slaman29]

No matter what the season may be, the scammers are always available to manipulate the newbies to steal from them. And as regards altcoins investment, no matter what the season is, investing in Bitcoin and ethereum is the best and most secured investment anyone can go into.

And much of the same can be said the other way round. Bear or bull, or sideways, crypto or fiat, there is always going to be someone born every minute who will grow up to be an easy con. People sometimes have no sense to avoid scams. You can put a scam out there and just leave a btc address and people will always get scammed!

[CryptopreneurBrainboss]

So dont you think we should promote the use of bitcoin more and more and shun the use of shitcoins? There is really no reason to think of altcoins as a saving grace during bitcoin network congestion or short term yields.

Well, I won't say I'm against the promotion of bitcoin more but, infact bitcoin doesn't need our promotions. The currency is a force on it's own and it's success does the promotion for it. Altcoins on other hand currently is what's keeping the industry lively and interesting. They're the pair been traded on the market complimenting the trading of bitcoin. I would say lets give altcoins a chance that's, we should promote it more.

Not the shitprojects or scam coins advertised all over the space but well developed projects putting in work to bring out the best of the industry. Bitcoin just overshadowing every other coin in the market which isn't healthy for the industry generally although it benefits bitcoin specifically. Litecoin couldn't even benefit from it's halving advantage just because bitcoin is taking all the attention for itself.

[magneto]

My personal philosphy is to always treat ICOs as scams in the beginning.

Essentially, the mindset here is to assume guilty until proven innocent. It's the only way that you can safely invest in an ICO these days, because there are simply so many out there that have completely no substance to them and are just solely there to reap investor funds and then exit with little to no development later.

Always look at their fundamentals no matter what absurd claims they have in regards to the potential returns of the coin, because that's what drives long term growth.

[Godstrength]

When ICO's was on it's hayday, scammers got a lot going on, especially in Telegram where they try to imitate someone from the coreteam and ask them to do the fundraising via pm. Depending on what's going on, it's really attracting scammers everywhere.

There are cases where the founding team are also being seen as scammers from bounty hunters since they will stop the campaign when they fail to raise funds, which in result, turn into stopping the bounty itself and make all our hardwork into waste. There are platforms that lets you develop for crypto with projects that are already established and are just looking for the input of the community, whether it be writing content, tweeting events, etc.

[jets567]

There are cases where the founding team are also being seen as scammers from bounty hunters since they will stop the campaign when they fail to raise funds, which in result, turn into stopping the bounty itself and make all our hardwork into waste.

We cannot blame the team if they won't be able to distribute rewards since it's on the rules that if they did not reach the softcap there will be no rewards. With  regards with what OP said, I don't really believe on altcoin season because anytime will be good time for any new projects as long as they are unique with a solid plans and have a better marketing strategies to ignore the current bear market.

[Pearls Before Swine]

Yup maximalist at heart.

But to be a bit more lenient and so called "alt liquidity" you could try some LTC and ETH.

I'm a bitcoin maximalist, too and I agree that most altcoins should likely be avoided not because of the potential of getting scammed but because they might end up worthless in a few years.  Litecoin and Eth won't, I'm sure of that, but I'd even go so far as to say that Litecoin has seen all its good days go by.  Ethereum is still a good investment, especially at it's current value.

Depending on what's going on, it's really attracting scammers everywhere.

These ico's have, and always will, be a playground for scammers of every type.  Take a look at the scam accusation section and you'll constantly see projects with plagiarized whitepapers and fake team members and every other type of scam.  I honestly can't understand why people still fall for that kind of thing...but they do.  Until they learn to avoid those scams, they're just going to keep happening.

[Wintersoldier]

Honestly speaking, if you are into some speculative trading then go for the bitcoin market and leave the altcoin market as it is. At the best I would go for 100% Bitcoin. Yup maximalist at heart.

Though at the same time I guess we need all these speculators to push Bitcoin price down and to have something other than Ethereum to keep proving that despite all the knocks on Bitcoin, alts still cannot challenge it for top spot. That's always for me good for the price in the long term, and even better for the community. We needed all those splits to get rid off the people who want other things for crypto. Thinking about BSV for example;)

BSV and such other don't want the best for cryptocurrency, but even if you push bitcoin down for a challenger to face and meet the volume and price of bitcoin, it still has trademark of being the best cryptocurrency in the world. Though, the best idea is to avoid creating boundaries between bitcoin and altcoins as all have their potential market development that will help us in the future.

[TheUltraElite]

I completely agree with you, you need to be careful when choosing a project for investment, but there is always a risk. And unfortunately no one will give you a guarantee that the purchased coins will nevertheless grow in value.

It is not about guarantee but its about a use case. If some project is being developed and the tokens being issued for that projects backing giving the stakeholders some sort of benefits, then the minimum viable product (MVP) must have some sort of a use case and can develop and sustain a market of its own. Look at what amazon and facebook have done. It is more or less a matter of luck here if you are going on into ventures but with bitcoin you can be rest assured for its rise in price for the long term.

Trading in alts which cant be developed or developing something that has already been developed you will only be wasting your time and money unless your goal is to just pump and dump the coins.

[Mianae]

Yea to every coin out there, there's a season for each. When ever a coin starts to moon, scammers begin to device means of making holders make fake transfers to their scam wallet everyone should be watchful especially those in telegram groups of such coins
Scammers have a way of sending direct message and convincing an unwatchful fellow to make wrong transactions.

[AndRE177]

No matter what the season may be, the scammers are always available to manipulate the newbies to steal from them. And as regards altcoins investment, no matter what the season is, investing in Bitcoin and ethereum is the best and most secured investment anyone can go into.

You are right, scammers are active in any state of the crypto market. Whether the market is rising or falling scammers continue their dark time and create new projects in order to catch new victims in their clutches and get their money. Of course, when the market grows, there are more such projects, because the demand for new projects increases.

[r_delossa]

Sure, the bigger is the amount of hype, the bigger is the amount of scammers, but the problem is that even right now, when market is not in its best conditions, every second project turns to be scam after the token sale.

[key4co.in]

This is absolutely true, scammers take advantage of the new trend for altcoins and scam gullible crypto enthusiasts. The recent rise and fall of deflationary tokens was a good example. I saw many deflationary tokens launch with no project vision, fake team members doing airdrop and later list unofficially on forkdelta and then DDEX to scam those who will buy on exchange. We just need to be careful, the new trend is for staking and "quantum resistance coins" . Proper due diligence before investing is the watch word.