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Author Topic: Newbies are safer with top altcoins  (Read 5220 times)
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April 28, 2020, 02:52:43 PM
Merited by tk808 (5), Towerbreeze (2), Bitbtc8 (1), Balladtony77 (1)
 #1

Seek for more crypto knowledge before investing in new projects, it's not always that easy to choose, as a newbie it's better to stick with old top altcoins on coinmarketcap, why? Because many newbie are in rush to make fast returns, if you are this type pls go for better top coins, 90% of new coins aren't serious at all, they are here to steal money from investors and give fake promises in return

Newbies are safer with top altcoins until they start learning how to choose wisely, do better diggings on new project to avoid scams

Cov-19 have been used to scam many newbies and even Corona virus coins are built too which have no real use cases

Play safe and be willing to learn

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April 28, 2020, 03:05:02 PM
 #2

The topic should be moved to
https://bitcointalk.org/index.php? board=67.0
Top altcoins? Like from the top 100? Top 50? Or what. The top altcoins are no benchmark for your safety.  


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April 28, 2020, 03:08:34 PM
Last edit: April 28, 2020, 03:44:19 PM by o_e_l_e_o
 #3

90% of new coins aren't serious at all, they are here to steal money from investors and give fake promises in return
99% of all altcoins, regardless of age, are not serious at all.

Newbies are safer with top altcoins
Newbies are safer with bitcoin, and avoiding altcoins altogether.

Marketcap is a meaningless statistic. I could create a new token right now, print 1 billion of them, sell a single token to my friend for $10, and now my market cap is $10 billion and I'm the third "top" coin. Just because an altcoin is in the "top 10", means nothing. At least half the coins in the "top 10" are literal scams.
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April 28, 2020, 03:38:52 PM
 #4

An altcoin being on the "top" doesn't automatically mean it's a "safe" or good investment. I mean, take a look at it! The cryptocurrency market is full of crap. And not to mention that bitcoin is risky and volatile enough for the typical inexperienced investor, and you're going to say that it's better for them to buy coins like Ripplecoin a.k.a. fidget spinner coin? Worst investing advice I've read yet.


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April 28, 2020, 03:39:56 PM
 #5

Altcoins must be placed in the "top" category based on development and characteristics. Bitcoin's market cap was, IIRC, close to being surpassed by ETH's years ago. If that ever happens, it does not make ETH better than BTC in any way.

A good example would be the digital fiat. It'd have a market cap of trillions - would that make it better than Bitcoin? I don't think so. A better tip for newbies is to avoid most of the altcoins and possibly focus only on most developed ones and BTC.

Market cap and volume only matters when it comes to volatility. If you buy a coin with small volume & mcap, don't be surprised if it'll be worth a quarter of what you paid within a week. If Bitcoin can possibly drop to half of its price, it's going to be even easier for a less-known shitcoin to do so.
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April 28, 2020, 04:35:02 PM
 #6

Seek for more crypto knowledge before investing in new projects, it's not always that easy to choose, as a newbie it's better to stick with old top altcoins on coinmarketcap, why? Because many newbie are in rush to make fast returns, if you are this type pls go for better top coins, 90% of new coins aren't serious at all, they are here to steal money from investors and give fake promises in return

Newbies are safer with top altcoins until they start learning how to choose wisely, do better diggings on new project to avoid scams

Cov-19 have been used to scam many newbies and even Corona virus coins are built too which have no real use cases

Play safe and be willing to learn
That's what I always recommend if you are just starting out go for the top coins in the market while learning about a different project, after you learned about investing and how to look on a project, then that will be the time that you can invest on other coins, this is to keep you safe and moving in this business, top coins are a way to go first.
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April 28, 2020, 04:43:27 PM
 #7

Top altcoin includes shitcoin like BCH, BSV, XRP while I would strongly suggest newbie to stay away from such shits. It's better for newbie to learn about whole crypto market before investing. None of the investment is safe as long as you have no idea about portfolio management.

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April 28, 2020, 04:57:09 PM
 #8

A top altcoin is a rather subjective term. If you are talking about top coins based on rankings here is an example.
In December 2017, IOTA was ranked 6th and valued at over $5. https://coinmarketcap.com/historical/20171219/
Today they are #25 and valued $0.17.

What you would consider top today can change quickly. 

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April 28, 2020, 05:34:03 PM
Merited by CryptopreneurBrainboss (1)
 #9

There is no safe altcoin investment for beginners even though altcoin is in the top 10 at CMC. Cryto investment is a very risky activity and is not recommended for beginners. Even if its bitcoin, I dont think its a profitable investment for those who dont have enough experience and knowledge.

It is very easy for someone to fall into poverty if investing in cryptocurrency is done without knowledge and experience. A friend asked me about which altcoin is best for investing, but I dont recommend any altcoin for him to invest before he is really ready to do it. Knowledge is important before choosing to jump into crypto investment.

What you would consider top today can change quickly. 
Very likely in the crypto industry.

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April 28, 2020, 05:59:17 PM
 #10

Seek for more crypto knowledge before investing in new projects, it's not always that easy to choose, as a newbie it's better to stick with old top altcoins on coinmarketcap, why? Because many newbie are in rush to make fast returns, if you are this type pls go for better top coins, 90% of new coins aren't serious at all, they are here to steal money from investors and give fake promises in return

Newbies are safer with top altcoins until they start learning how to choose wisely, do better diggings on new project to avoid scams

Cov-19 have been used to scam many newbies and even Corona virus coins are built too which have no real use cases

Play safe and be willing to learn

When it comes to the investment I think even for newbies bitcoin will be the one currency where they are safe, compare to the other as long as you don't sell your bitcoin the demand is always their so there is a very low chance of losing investment in bitcoin.

Popular or top altcoins are also a good option, safer than the other shit tokens in the market for sure but the return is not guaranteed.

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April 28, 2020, 06:12:12 PM
 #11

Even Bitcoin is quite risky, we all saw how it went down by 50% in a day and still hasn't fully recovered. With altcoins this happens much more often, and unlike Bitcoin, they don't perform good even in the long run, so the risk is really unjustified. Newbies should forget that altcoins even exist, and they only may start looking at them when they have years of experience with crypto. But after that, there's a good chance they will not be that interested in owning alts anyway.

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April 28, 2020, 06:14:23 PM
 #12

It is not right to think that all top coins are safe. There are a lot of coins here that I don't think they are very safe. When it comes to investing, one must check whether the coin is serious or not. I think Bitcoin and Eth are good options for newbies to get start. Because I don't think there's any need to go further in the beginning. As he/she gains experience he/she will get an idea about other coins too.

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April 28, 2020, 06:55:59 PM
 #13

Seek for more crypto knowledge before investing in new projects, it's not always that easy to choose, as a newbie it's better to stick with old top altcoins on coinmarketcap, why? Because many newbie are in rush to make fast returns, if you are this type pls go for better top coins, 90% of new coins aren't serious at all, they are here to steal money from investors and give fake promises in return

Newbies are safer with top altcoins until they start learning how to choose wisely, do better diggings on new project to avoid scams
It depends on what kind of investment the newbie is willing to take. A newbie means inexperienced one who knows few to none about how things works in the crypto field, so he is not able to make an investment even betting on bitcoin because he may loose his investment for other reasons.
Usually, newbies asking this type of questions came from the "trading" market who still use exchanges as their main wallets.
Once you take enough time for better understanding the blockchain technology as a whole, you would realise how it's extremely dangerous to invest on those you called top alts cmc, expect bitcoin and little few others.
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April 28, 2020, 07:10:24 PM
 #14

Seek for more crypto knowledge before investing in new projects, it's not always that easy to choose, as a newbie it's better to stick with old top altcoins on coinmarketcap, why? Because many newbie are in rush to make fast returns, if you are this type pls go for better top coins, 90% of new coins aren't serious at all, they are here to steal money from investors and give fake promises in return

Even if people are losing money on worthless altcoins what more it will be if they choose top altcoins and even Bitcoin? These cryptocurrencies are highly volatile too just by picking them is not gonna make your capital any safer if you really don't know what you are doing so I wouldn't really recommend this kind of advice for any newbies during the end of the 2017 bull run a lot of newbies who have entered late have either cut their losses significantly or have reduced their capital by a lot. A person who really knows what he/she is doing can profit at any cryptocurrencies even if their market cap isn't in that top 20, the thing is they should be knowledgeable on when to enter and when to exit in a trade so that they avoid losing money or just minimize the lost they will be incurring.
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April 28, 2020, 07:15:34 PM
 #15

Yes mate, i will have to fully agree with you if someone is new and just entering the market then i suggest to look at top 5 coins only and pick 1 or 2 from them ideally btc and eth to start with, unfortunately most of new projects have not proven to be worth it, if some one still likes a new project and wants to invest i will suggest to go only 10 to 20 percent in that from your total portfolio.

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April 28, 2020, 07:16:36 PM
 #16

No need to be overly concerned about the top altcoins. Do your research, I believe you will see a lot of other altcoins better and they are outside the top 100. Also the top altcoins are less profitable than the altcoins outside the top 100 because their marketcap is too big

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pakhitheboss
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April 28, 2020, 07:28:14 PM
 #17

An altcoin being on the "top" doesn't automatically mean it's a "safe" or good investment. I mean, take a look at it! The cryptocurrency market is full of crap. And not to mention that bitcoin is risky and volatile enough for the typical inexperienced investor, and you're going to say that it's better for them to buy coins like Ripplecoin a.k.a. fidget spinner coin? Worst investing advice I've read yet.



In my opinion it will not be wise to invest in BitcoinSV as most of the time it looks like pump and dump. To be on a safer side it wou ld be nice to still do your own research in the top 10 coin.just understand the project and analyse the last six months development news. It would give you a clear picture of the project.

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April 28, 2020, 07:33:21 PM
 #18

You're right, novices often don't have the experience to choose good projects to invest in. So they should go to the top altcoins in this market. It may be less profitable than other altcoins, but it certainly won't fall apart like altcoins outside the top 50 or 100.

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April 28, 2020, 07:55:37 PM
 #19

as long as they are just starting to trade, then the top altcoin can be the best choice to look for experience and also to train their abilities, so as long as they are still in the learning phase, then looking for altcoin with the top position can be utilized to understand the techniques for investing
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April 28, 2020, 08:20:47 PM
 #20


Cov-19 have been used to scam many newbies and even Corona virus coins are built too which have no real use cases

I'm not understanding how covid 19 has been used to scam newbies,  are you trying to say that covid 19 does not exist?

Those investigation in corona virus coin might get to blame their self later on because the coin is purely a pump and dump coin,  it will be better off if you guys desist from such coin

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