Does altcoins actually have the potentials of generating benefits to investors?

[isaac_clarke22]

~

This is why you go first for Bitcoin and think about altcoins later on, since there are way plenty of altcoins out there that just don't survive the bear market. They are what you see called "shitcoins".
Those people that you're talking about are surely short-term holders and usually some. if not most of them, are just purely driven by hypes and those coins do not have utility at all. You would hear meme coins a lot in this section and I am pretty sure that you are not in crypto for memes anyway.

If you're into altcoins, just go to CMC and trade the top coins. It ain't worth risking your first investment/capital for such shitcoin that are way below top 10.

[harizen]

As a beginner into the trading business, I'm always scared of putting my money into altcoins but I do hear some people talk about how they make profits altcoins.

So I decided to come here to seek the views of experienced traders on the potentials of altcoins.

To make things clear, yes, you can make a profit from trading altcoins. Lots of worthy altcoins there.

But the question is, what are those "Worthy" altcoins?

That's the question that you won't get from others as we do have our own preferences on choosing those altcoins. You need to test the waters at your preferred altcoins and do some tests if putting money on those will be worth it or not.

[pgbit]

There is no doubt that there are many financial benefits in altcoins for all investors but the condition is to have complete knowledge and awareness about altcoins.If you check the track record of all the good altcoins, their value has multiplied three to four years after their launch.There are also altcoins whose value has increased more than 10,000 times within a year.like Solana,Dot.If you adopt a safe investment strategy, choose such altcoins that are fundamentally strong, technically strong. Their backup, their partnership, their team is strong, perfect, powerful.  Investors have to choose a coins and invest in it every month or every week. If SIP strategy is followed then there are many benefits for all investors in Altcoin.

[GreatArkansas]

As a beginner into the trading business, I'm always scared of putting my money into altcoins but I do hear some people talk about how they make profits altcoins.

So I decided to come here to seek the views of experienced traders on the potentials of altcoins.

Think that most of the altcoins in the market now are scams or worthless, maybe 90% of them are not worth it.
Most of the altcoins now are just good in the beginning or they just want the people's money and after that, they start to vanish and have a lot of issues.
Over time, Ethereum for me is the only altcoin that is worth its investment others are not worth it. Well, just my 2 cents.

[lienfaye]

As a beginner into the trading business, I'm always scared of putting my money into altcoins but I do hear some people talk about how they make profits altcoins.

Altcoins are also profitable but more risky than investing to Bitcoin. If you happen to buy the alts that are worthy to hold then its likely you'll gain from it. There are investors who made profit by selling for short term when the price increase even a bit, or through holding and sell at their target price.

However not everyone who invest in alts are fortunate to gain because many investors made a wrong decision by choosing a not established coins or those meme coins for quick profit. Hence if you really want to invest in alts and achieve your desire to gain then take time to learn about alts, have a plan because its important. Ask yourself if you want to trade for short term or hold alts for long term. Because if you already know the things that you need to be aware of, you'll understand the best strategy to do in order to not lose your hard-earned money that you will use as capital.

[Wexnident]

Yes, but most of them only last in the short term. Some altcoins actually pop off with how much investment the team does so that their project starts off with a  big hype behind them but most of it dies off in the long term, so some investors (if not all) just invest for the start of the project, wait for the peak hype, sell off then look for a new project to invest in. There might be altcoins out there that are worth in the long term but honestly, you're better off shorting them most of the time.

The short answer is yes, you just need to know what and identify the hows.

[Hu915]

BIDZ Coin an altcoin which I came across in an AMA today. They have a very interesting utility proposition. They have created their own swap and they will be releasing their own vpn in the coming days. I heard they have a great utility case. Anyone know where can we buy this coin from? I think this altcoin might be able to generate profit for us since it seems like they have real world use case.

[Silberman]

As a beginner into the trading business, I'm always scared of putting my money into altcoins but I do hear some people talk about how they make profits altcoins.

So I decided to come here to seek the views of experienced traders on the potentials of altcoins.

If it was not for the fact that altcoins can generate profits then I'm sure that most people investing in them will not do so, altcoins can generate profits but you need to be very careful because there are a lot of altcoins while both your capital and your time are limited, so the chances you actually become profitable while investing in altcoins are really low, to the point that you should invest in them only if you are quite sure about what you are doing, otherwise it is better for you to stick with bitcoin and leave altcoins alone.

[Sunrise360]

Technically, all cryptocurrencies besides Bitcoin started as random altcoins, and some were successful, so the potential is there. Regarding new ones, the question would be when the market will be saturated.

I always feel satisfied each time I ask questions here. Before now I didn't know that other big cryptocurrencies like ETH and BNB still fall under altcoins. I'm really gaining a lot of knowledge here as it has to do with cryptocurrency and trading. I appreciate everyone of you. Love you all.

[TheUltraElite]

I always feel satisfied each time I ask questions here. Before now I didn't know that other big cryptocurrencies like ETH and BNB still fall under altcoins. I'm really gaining a lot of knowledge here as it has to do with cryptocurrency and trading. I appreciate everyone of you. Love you all.

Any coin other than bitcoin is an altcoin. With more coins coming in view, people think that the top few coins are the real while the others are alts.

It is not that all of these coins are worthless, rather it is difficult to actually see which ones are worth investing in. If you are into altcoins try to stay with those top 5 and not with th scum that comes up every day. Because in the long run only the top coins will be the profitmakers.

In the short term it might seem thatyou are missing out on many of these coins. This is not the true case because short term gains happen with many altcoins but carry an equal or higher risk compared to bitcoin. It would be difficult for one to judge the long term coin on any specific coin but for Bitcoin it is always good.

[fvb]

As a beginner into the trading business, I'm always scared of putting my money into altcoins but I do hear some people talk about how they make profits altcoins.

So I decided to come here to seek the views of experienced traders on the potentials of altcoins.

If you monitor the market of top altcoins and conduct analytics, that is, you can constantly keep your finger on the pulse, you can trade in the short term. Or if there are assets that can be forgotten about for a long time, then, as an option, exchange tokens in staking can also bring profit. This is my humble opinion, the choice is yours anyway.

[CryptoYar]

As a beginner into the trading business, I'm always scared of putting my money into altcoins but I do hear some people talk about how they make profits altcoins.

So I decided to come here to seek the views of experienced traders on the potentials of altcoins.

You can trade in altcoins for short term trades but only consider tokens that have a good 24h trading volume, and don't trade low volume tokens because they don't move much and when they move there is a big move either downward or upward.( manipulative moves)

However, if you want to invest for long term then I would advise you to keep most of your money in bitcoin only.

[Jackl87]

As a beginner into the trading business, I'm always scared of putting my money into altcoins but I do hear some people talk about how they make profits altcoins.
So I decided to come here to seek the views of experienced traders on the potentials of altcoins.

The thing with altcoins is that you can not give a general answer to your question because nowadays there just so many altcoins out there already. There are great and already very big and established altcoin projects out there like for example Ethereum, Cosmos, Polkadot and Solana for example are all altcoin projects that already have a marketcap of way more than 1 Billion $. So if you invest in one of those projects, then the risk of a total loss of your investment is very small in my opinion.
Then of course there are thousands of new or very small altcoin projects and there the risk of a loss of your funds is very high, but of course there you always also have the chance for a potential moonshot, even though that chance is pretty slim.

[LastKiss]

As a beginner into the trading business, I'm always scared of putting my money into altcoins but I do hear some people talk about how they make profits altcoins.

So I decided to come here to seek the views of experienced traders on the potentials of altcoins.

A lot of altcoins have potential just depends on your strategy, even you can gain profit from investing in the shit coins since they can give you profit in the short term before it ends up becoming a scam project. If you're scared probably because you used your money that you can't afford to lose so you can't lose your money no matter what. Know the risk and enter when you're ready. 

[bonyaserg]

Yes, that's right, every new investor can profit from altcoins. But in order to make a profit, you need to thoroughly study the market of sought-after coins. And also a lot of different nuances, so as not to lose your money. Therefore, to earn money, you need to work hard. In general, investing in cryptocurrencies is a very profitable way to generate income. So if you want to get a decent profit, you need to try.

[ogabangianrey22]

You too still don’t fully realize that in a couple of years, there will be a profession of virtual space designer? It’s just that, judging by the hype of Dreem beta, there can be no other outcome.

[Anonylz]

The simple answer to this question is yes, however it all depends on the alts and the overall standard, if it is a high standard alts the potential to is higher than low or no standard alts that are just base on hype (which can still reward you but only in a very short term). High standard alts on the other hand can be very rewarding depending on when you invest, if you take the top 100 alts for instance you will find out none is trading at the initial presale price, meaning all initial investors have already earn big rewards.
You can still find such alts if you know where to look.   

[Xal0lex]

So I decided to come here to seek the views of experienced traders on the potentials of altcoins.

The potential of altcoins is fully revealed not in trading, but in investing, even better if this investment takes place at the very beginning of the altcoin's development. Then the probability of getting several hundred or thousands of percent increases. Buying altcoins at market prices for the purpose of short-term speculation is a bad idea, because a trading strategy will never be more profitable than an investment strategy. When trading altcoins, people are more likely to lose money than to make money on altcoins.

[justdimin]

The thing with altcoins is that you can not give a general answer to your question because nowadays there just so many altcoins out there already. There are great and already very big and established altcoin projects out there like for example Ethereum, Cosmos, Polkadot and Solana for example are all altcoin projects that already have a marketcap of way more than 1 Billion $. So if you invest in one of those projects, then the risk of a total loss of your investment is very small in my opinion.
Then of course there are thousands of new or very small altcoin projects and there the risk of a loss of your funds is very high, but of course there you always also have the chance for a potential moonshot, even though that chance is pretty slim.

That’s the thing about people not understanding the word "altcoin" and what it stands for. "ethereum" is technically an altcoin, the biggest we have, and it is worth 193 billion dollars in marketcap, that’s an altcoin itself, or bnb which is 44 billion and not bad.

Luaswap for example is around 1150th in the rankings and has 2.5 million dollars, not "B"illion, it has 2.5 million dollars, less value as a whole than over 30-40 million people in the world has for their networth, meaning people could literally swallow it whole if the price stayed the same (of course price would go up if anyone tried). So, altcoin can2t be generalized like that hence why this question can't be answered properly.

[kawetsriyanto]

~even you can gain profit from investing in the shit coins since they can give you profit in the short term before it ends up becoming a scam project. If you're scared probably because you used your money that you can't afford to lose so you can't lose your money no matter what. Know the risk and enter when you're ready. 

If you know that shitcoin will end up being a scam, you are better to avoid investing in that coin. Although you only plan for a short-term goal, you don't know when it will disappear from the market. If you are lucky enough, you can sell that coin before it is delisted from exchanges. But if you are unlucky, you can end up losing all your money. I know you only use the extra money, but it is not a wise choice to choose a coin that is clearly to end up being a scam. It is surely not recommended to do, especially for newbies.