There are many altcoins being listed in this site
https://coinmarketcap.com. Still there are lot of coins that are not listed due to low marketcap volume and others too that are being created for scamming purposes and project were dead.
If you are new in cryptocurrency and will going to check what crypto you might be into in which you think will put a good use especially if you wanted to integrate it in your exisiting business then make a good use of bitcoin. The problem is that chosing between those coins is already a difficult task. What could be more when you wanted to check the coins one by one? It will be a load of work with the huge number of the altcoins in the market the common scenario that has happen with altcoins
1. There is no assurance that you can earn investing on altcoins unlike investing in bitcoin. Other altcoins liquidity are questionable so it can't get your money back whenever you wanted to.
2. Pump and dump scheme, Altcoins could be easily pump up especially the low total supply and this could be mean a trap where many people will going to anticipate the pump scheme investing more believing that it will go high. The next thing happe is that it will be going to dump for no certain reasons or just being told big investors pulling out the project.
3. Team abondone the project. Once the project is dead it can really be difficult to regain for project is abandon already. I think that most of the scammers are like this always creating new projects because it is more easy to get money from the crowd through ICO or DEFI crowdfunding projects.
4. All altcoins market are mostly dependent on bitcoin market. Seldom to see in the list that it could move on its own without being influenced with the bitcoin market. Meaning that all altcoins had no value if it will not be paired to bitcoin directly or using other altcoins that is being paired with bitcoin. So, all of altcoins value are peg to bitcoin which sounds like as coins name after alt coins.
5. Most altcoins value falls down after it gets listed to an exchange if compared to their ICO price as I checked the projects that can be found on gecko sites regarding the ICO price of the tokens.
Most of the coins are set up to failed (Not all). If this is the trend in these altcoins then why invest such that can make you more losses? I suggest not to believe on the bounty hunters stating that the project is good, team is good, gathered funds is good and or at the part where low cap was achieve and project is good to go. Yet, the tokens will be listed in a cheap exchange or no listing at all due to the common reasons such as
1. The project is still being developed an promised within next 6 mos. to.deliver. But nothing has changed after 6 mos. (false hope)
2. That one of the member of the team had been replaced or there is a misunderstanding within their team and they are still couping up with that problem.
3. That they are following the regulations of the government where project was basing and that the cause of project delayed.
4. The listing will get delayed due to pandemic.
5. The project is doing great with new affiliates which they are waiting for something great to happen but it weren't (you will again a victim of false promise)
6. There was no funds collected at all and it was just a false claim that they had claim much funds to trick you to trust them and invest in their projects.There are so many reasons why you should chose to be careful with altcoins or investing in projects. If you do not want your money to be wasted then invest directly on bitcoin or to establish altcoins and not the new projects that are only good in making false hopes.
You or we as a newbie in investment would you rather care to invest in altcoins even with the current conditions stated?
Are you still willing to take the risk?a1. There are no assurances you will earn money investing in any cryptocurrencies, not just Bitcoin. Yes, a lack of liquidity can make it difficult to trade but projects with lower liquidity may provide a greater opportunity for arbitrage/profit.
a2. All cryptos are subject to pnd schemes, in Bitcoin we call it a "bart". The market is unregulated.
a3. Agree, there are a lot of pump and dump schemes, rug-pulls, exit scams in crypto ICOs and DeFi, that's why I only invest in established projects like $0xMR. It's POW and the dev team doesn't control the supply so they can't dump on investors.
a4 Somewhat agree, most cryptos now have USD trading pairs and not all cryptos have BTC trading pairs. It's normally the BTC trading pair bots that dump altcoins when Bitcoin moons. $0xMR has DAI and ETH trading pairs and there are no BTC trading pair bots to manipulate the price.
a5. Agree, ICO investors run to dump tokens on exchanges as soon as they are listed. It's best to avoid investing in cryptos that held an ICO without a vesting period for investors. $0xMR had no ICO and all tokens must be mined into existence.
b1. Somewhat agree, depending on what the team is building, sometimes it can take longer than 6 months to release a product. For example, $0xMR is still building xTip and 0xMixer but they have succeeded in platform integrations, partnerships with casinos and a DeFi platform, and token bridges during that time period.
b2. Agree, often times there are disagreements between team members that can destroy a project, just like any business. $0xMR is a leaderless community project and although there is a team behind it, anyone can develop or promote the project. $RVN is similar in that regard.
b3. Somewhat agree, if a project held an ICO it is subject to regulation. POW projects like $0xMR that had no presale or ICO are not subject to the same restrictions.
b4. Disagree, I haven't seen cryptocurrency projects delay due to covid, if anything development speed has increased because devs are stuck in their homes.
b5. Agree, there are a lot of pie in the sky promises when it comes to crypto. That's why it's important to invest based on fundamentals like tokenomics and a business use case rather than "the tech".
b6. Agree, I suspect many ICOs are falsifying their fundraising volumes to make it appear more people have invested funds; people want to invest in a successful project. $0xMR does not want your money, the devs work for the benefit of the Ethereum ecosystem.
