Why altcoins are rampant in the market

[indrakusumaindra]

When people saw the value of Bitcoin, they also created various altcoins. Some people who make a profit from investing in Bitcoin will also choose to invest in altcoins.
In such a messy market, how should we invest in cryptocurrency? What should do with these altcoins？

Well Did your own research is the best word to answer your questions. There is a lot altcoins out there with many scam and also good project that are hidden. The best thing is try to read and do your own research before investing on coins with low cap, i do recommend if you are not risk taker  its best to invest only in ETH and btc but if you seek for bigger profit you might wanna find coin below top 100 which have a low value and good potential. Once again Did your own research.

[marissa23]

right, this is a free market, where every day many new projects are launched, but indeed only a few projects will survive and have a solid new community. many projects are without a real product, and end up falling into hype circles. therefore we must be careful in investing in new projects

In the free market we have many options to attract one of the potential altcoins, the altcoin market also has a good impact in the free market as a support to maintain the main market, but many new altcoin projects are only created by scammers to market hype to deceive many investors.

[KaliLinux]

When people saw the value of Bitcoin, they also created various altcoins. Some people who make a profit from investing in Bitcoin will also choose to invest in altcoins.
In such a messy market, how should we invest in cryptocurrency? What should do with these altcoins？

Regardless of how messy you might think the market is, People will choose to invest in what they believe I the best option that will make them the most profits be it in the long run or short term. Crypto space is a free space and even more altcoins will be created but this doesn't take away the fact that just like every other market, for example, the Automobile market. there are many brands but you chose what is first, what is affordable, and will work for you within that range and so is crypto. So no matter how many Altcoins are being put in the market, people will only invest in what they feel is worth it for them. 

[coiner-88]

Ethereum arose with an organization improvement that was viewed as an answer. At the point when the Altcoin named Ethereum figured out how to draw in numerous individuals, then, at that point another Altcoin showed up with the primary objective as I would see it being positive to tackle the issue. A great many people consider this to be as a monetary chance, which winds up making more disarray and requiring more examination.

[inanilujimi]

that's where each individual must be good at choosing what they want to invest, even though with altcoins we have many options to invest but don't go without research and just follow the fomo that is happening.
There have been many victims of shitcoin so don't let ignorance ruin your finances.

[MarjorieZimmermanGinger]

When people saw the value of Bitcoin, they also created various altcoins. Some people who make a profit from investing in Bitcoin will also choose to invest in altcoins.
In such a messy market, how should we invest in cryptocurrency? What should do with these altcoins？

when investing we definitely think about profits, but not a few people understand that investing has the right formula, if not then the investment we do is just investing without calculation, in this case there are lots of choices in altcoins actually for us to invest, but because of limitations knowledge makes us always lose money when investing, it's good we need to change the mainset that something easy doesn't mean it has to be done in a hurry, here we need to learn that what we want to invest is the right pattern, so that our investment is not in vain and a waste of time, there are many references that we need to study properly so that our investment does not suffer losses

[Kelvinid]

snip...

when investing we definitely think about profits, but not a few people understand that investing has the right formula, if not then the investment we do is just investing without calculation, in this case there are lots of choices in altcoins actually for us to invest, but because of limitations knowledge makes us always lose money when investing, it's good we need to change the mainset that something easy doesn't mean it has to be done in a hurry, here we need to learn that what we want to invest is the right pattern, so that our investment is not in vain and a waste of time, there are many references that we need to study properly so that our investment does not suffer losses

If that right formula that you said will work, then may I have to know that so I can make a profit as well.
I don't find any formula and market calculations, what we gonna do is to choose the right coin to invest in. Due to the massive increase of altcoins in the market, it finds too hard to trust new projects as most of them are fake or some are a tool to scam.

It definitely needs to search and study the project we want to join as one requirement. if just jump on the market knowing nothing about it because of attractive offering, it is to expect that you end up losing your money.

[CryptoG99]

When people saw the value of Bitcoin, they also created various altcoins. Some people who make a profit from investing in Bitcoin will also choose to invest in altcoins.
In such a messy market, can we still allocate assets to cryptocurrencies? What should be done with altcoins?

We can't do anything with altcoins, there is no ban on creating new coins/tokens. Good projects will attract users and will survive. The garbage project will of course soon market layoffs. Anyway, the crypto market is flooded with scam projects, low quality projects,... and has no limits. Your job is to find high quality projects. It's not that simple!

One of the first questions I ask myself when I look at any new crypto is "does it have a use case/utility?" If this question cannot be answered, then I move on. I am not saying I wouldn't come back to it later if I see new news or learn something new, but I like my tokens/coins that have use cases. What do you think of Black Eye Galaxy ($BYG)? Upcoming NFT token that can be used "in-game" for collecting planets which the collector can use to stake or mine and get returns.

[BlinkInDie]

Potential, use case, team, and a lot more. I'm into gaming, who would believe that you can now earn on your game play. That's why I'm heavily invested in axie, also AnRKey X - the future of DeFi and NFT competitive and Social gaming platform

[Shasha80]

Many people want to try their luck in the crypto world by creating new projects, they do fundraising. Therefore altcoins become rampant and new projects
keep popping up. But in the end many projects die and don't last long, because indeed most of the new altcoins circulating do not have a clear function
and are only a copycat of the previous altcoins. So be careful in choosing altcoins for investment, choose ones that are quality and have strong fundamentals.

fake developers now try another chance to scam our money by creating shit project. there are soo many useless project that actually shoud not got attention from investors because they just duplicate existing project without any new developtment. while we find this project better to avoid and come to major coins only.

Therefore it is very important when we want to decide on investment in new projects to do research properly. In order to avoid shit projects that
really want to deceive investors for personal gain. Therefore, it is not surprising that many projects end in scams, if we have difficulty distinguishing
real projects with fake projects, we should avoid investing in new projects. It is better to choose investments in old projects that have been proven
to have good quality.

[tabas]

I don't like BTC too much. I prefer altcoins like DIVI. I think they could grow huge. I like DIVI becuse it has so many uses. What im using them for now is to earn passive income by running nodes.

You can even use them in some online stores.

You don't have to like bitcoin. If you got a preferred altcoin, that's your choice. But it's still going to be the biggest cryptocurrency at all in terms of its status today.
If you like that coin and you're earning passive income on it monthly, how much are you making?

[eaLiTy]

When people saw the value of Bitcoin, they also created various altcoins. Some people who make a profit from investing in Bitcoin will also choose to invest in altcoins.
In such a messy market, how should we invest in cryptocurrency? What should do with these altcoins？

I do accept the fact that the entire altcoin market is a bit messy as there are thousands of projects in the market and not every project will run for a long time and if you are investing in this huge market you need to be careful as an investors as you need to look for the transparency of the project and the team behind it and even if everything is fine then you need to check their projects technical aspect whether they can deliver before investing.

[JaoBadjap]

Well other altcoin, offers much cheaper Gas Fee and Faster Transactions.
In a world where competition exists. Even a big name for its self, like bitcoin. Will always be challenged with another with more advance services and better offers.
Market will be messy but exchanges are keeping there hands full to make it organize.

[gundala]

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It definitely needs to search and study the project we want to join as one requirement. if just jump on the market knowing nothing about it because of attractive offering, it is to expect that you end up losing your money.

it is undeniable that the bullish trend that had occurred some time ago made a lot of new people come to take advantage as well. Unfortunately the desire for instant profit is not matched by the desire to learn first, many of my friends want to get profits immediately because they see the price increase so fast, I have warned them to study first, but many are ignorant so they buy at the top, and stuck to date, while the market did not recover quickly.
Cryptocurrency does offer many advantages but we also have to have a basic knowledge and not join randomly. let alone join just because of the fomo and hype, it's not a profit but it can be a loss. To be able to adapt and gain profit, we must understand the battlefield we will face.

[Vaculin]

Well other altcoin, offers much cheaper Gas Fee and Faster Transactions.
In a world where competition exists. Even a big name for its self, like bitcoin. Will always be challenged with another with more advance services and better offers.
Market will be messy but exchanges are keeping there hands full to make it organize.

I'm not really satisfied that they will create because of such a goal. Gas fee can be changed, it moves high and low, and creating hundreds of altcoins is not a solution to this. This is not all about market competition but this is certainly all about how people taking advantage of the market. In fact, these new altcoins had to contribute nothing to the community, they are useless, and they are just helping people not to trust crypto due to their unreliable purposes.

[Connor Britton]

Because they got a taste of bitcoin, and they all want to share a piece of the pie, and because everyone can have their own coin, some new tokens are great, but there are also a lot of scammers who need to know before investing in each coin, don’t invest blindly, don’t invest all your money, and give yourself an escape route,

[cabron]

Well other altcoin, offers much cheaper Gas Fee and Faster Transactions.
In a world where competition exists. Even a big name for its self, like bitcoin. Will always be challenged with another with more advance services and better offers.
Market will be messy but exchanges are keeping there hands full to make it organize.

I'm not really satisfied that they will create because of such a goal. Gas fee can be changed, it moves high and low, and creating hundreds of altcoins is not a solution to this. This is not all about market competition but this is certainly all about how people taking advantage of the market. In fact, these new altcoins had to contribute nothing to the community, they are useless, and they are just helping people not to trust crypto due to their unreliable purposes.

You can argue with that but they will still exist though. They were just created to steal BTC from users by forking coins but since it becomes reasonable already due to blockchain being opensource, they can create tokens or use blockchain whatever their purpose is. Then there is the birth of  ETH and so are tokenization platforms we now know that build this industry in the process.

A million coins to come in the future I guess some of the coins we knew today may actually disappear or got a high value that only the rich could afford.

[Sithara007]

Those who enter in to the cryptocurrency market are not ideologically motivated users. They are motivated by the historical bull run by Bitcoin, where it went from $0.001 in 2010 to $62,000 in 2021. Those who are investing now want the same amount of returns. That is not possible with Bitcoin, because it is having a market cap of $600 billion now. You can't expect the prices to further go up by another 1,000x, because the total global wealth is only $400 trillion. And that is the reason why a lot of people go for the altcoins. Many investors hope that some of these altcoins will repeat the past bull run from Bitcoin.

[Sled]

Because they got a taste of bitcoin, and they all want to share a piece of the pie, and because everyone can have their own coin, some new tokens are great, but there are also a lot of scammers who need to know before investing in each coin, don’t invest blindly, don’t invest all your money, and give yourself an escape route,

And they believe that it works? I don't think so and I'm sure that they will fail only.
It was time that most of the investors now are matured and educated already, we are already aware of this scam trick and they can never be successful.

Knowing which one is legit is a part of the game but as we know, olds coins are much more reliable than these new projects. If I have to invest, I simply ignore them but rather look at the coins that are already proven and tested.

[agg2702]

Crypto is like a plant, anyone can plant it but not many can take care of it, so many die. Natural selection will prevail, even if the number of crypto continues to grow but I'm sure only 10% or less will survive.

Yes, I totally agree with you, if we think that way, these coins are like plants and in the end the strong tree will survive and the loser will be eroded and exhausted.
apart from all that because I think that being a coin is rampant now, there are lots of scanners and hype scattered everywhere. they created an obscure project that eventually became a sh*tcoin.
and from here we have to be smart in choosing even though for example there are lots of coins but of course we have our own assessment of that so we don't get trapped in sh*tcoins, coins that are very rampant and have become like mushrooms.