Why you should be very careful with alts

[lepbagong]

Now a days as I have seen that many projects are doing scam as I can say the they are taking the benefit of the bear market and through their ICO's, IEO's and sales etc. . They are taking people money and at the time of listing, they delayed and taking the name of the bear market even though many of them are scam ones.

the current reality is that many projects are carried out only to raise funds for self-interest, not for the purpose of developing the project. They know that at this time it is indeed difficult to gather investors for every project that will be carried out, but they keep going and if the funds collected from investors are not reached, they will easily disappear without a trace.

now you really have to be careful with every new project and don't be easily tempted by the promised value, because when the project can't achieve what you want, it's likely that what was promised will still be fulfilled, but the value you get will be less than what was given, not even a little it's not worth it anymore. Of course this hurts but this is the current reality and everyone can't do anything but always analyze well before getting involved with a new project.

[Natalim]

Now a days as I have seen that many projects are doing scam as I can say the they are taking the benefit of the bear market and through their ICO's, IEO's and sales etc. . They are taking people money and at the time of listing, they delayed and taking the name of the bear market even though many of them are scam ones.

the current reality is that many projects are carried out only to raise funds for self-interest, not for the purpose of developing the project. They know that at this time it is indeed difficult to gather investors for every project that will be carried out, but they keep going and if the funds collected from investors are not reached, they will easily disappear without a trace.

These are the developers who are trying to develop projects that would ruin the market image and bring a huge disaster. They are not just greedy people but they are showing us that they can't be trusted. Because as a responsible crypto project developer will certainly look for the benefit of everyone, not only for themselves and the company. In fact, it will ruin not only their reputation and the trust of their friends and family members.

We don't need them and so they're useless/scam projects. That is why we should be wise enough to choose a project to invest in.

[fuguebtc]

Now a days as I have seen that many projects are doing scam as I can say the they are taking the benefit of the bear market and through their ICO's, IEO's and sales etc. . They are taking people money and at the time of listing, they delayed and taking the name of the bear market even though many of them are scam ones.

the current reality is that many projects are carried out only to raise funds for self-interest, not for the purpose of developing the project. They know that at this time it is indeed difficult to gather investors for every project that will be carried out, but they keep going and if the funds collected from investors are not reached, they will easily disappear without a trace.

These are the developers who are trying to develop projects that would ruin the market image and bring a huge disaster. They are not just greedy people but they are showing us that they can't be trusted. Because as a responsible crypto project developer will certainly look for the benefit of everyone, not only for themselves and the company. In fact, it will ruin not only their reputation and the trust of their friends and family members.

We don't need them and so they're useless/scam projects. That is why we should be wise enough to choose a project to invest in.

I agree that the developer is greedy, but I want to ask you, when investing in a project what do you expect? Is it waiting to increase in price and then sell it for a profit? We are also greedy, and we are no different from them. I don't believe that someone will invest in the project and support it to the end, but instead, we will sell them for a good profit and quickly find a new project to do the same. This is the financial market, there will be winners and losers, we should accept it if we lose, don't blame others.

[nidacoinlove]

The only takeaway from my crypto journey is that the investor needs to be keen while selecting a project. We need to keep aside the positive points presented by the company while marketing their project and to investigate the reciprocals by ourselves so, that we don't get trapped.    

[wxa7115]

Many altcoins are profitable at the beginning, but over time they end up being scams, and most of the altcoins in the market end in failure. To avoid losing a lot of money and risk, investing in Bitcoin can be more profitable than investing in altcoins.

It needs to be pointed out that the majority of altcoins that scam their investors do not become scams, they were scams from the beginning, the people that were behind them never had any intention of actually developing a coin which could become successful.

The whole idea was to enrich themselves and try to maintain the charade for as long as possible just to make even more money while they can, and unfortunately despite the scam being so obvious there are still many newbies that fall for it and lose their money.

[BobK71]

The only takeaway from my crypto journey is that the investor needs to be keen while selecting a project. We need to keep aside the positive points presented by the company while marketing their project and to investigate the reciprocals by ourselves so, that we don't get trapped.    

Almost all coins in this market of cryptocurrencies are at risk except for one Bitcoin. Bitcoin is decentralized and all other coins that exist are centralized. They can scam the cryptocurrency any time after building up the hype in various ways. There are many such examples. In recent times FTX not only destroy investors life but also many others altcoins in its history including Luna Crash. So investors should be well researched when they want to invest any altcoins. As it is a risky market, an investor should venture with risk.

[My ThuiHa]

Bitcoin is the prime choice for long-term investment. Altcoins are the way to make profits in the short term. Altcoins are more risky than Bitcoin. Learn more about the project itself before investing in the altcoins you see. Don't be fooled by "surfaces". Many altcoin projects are scams. Don't trust strangers easily. No one wants others to be luckier and richer than themselves.

[samcoin]

Apart from rugpulls and influencers scam that are very famous with altcoin investment there is one particular side I want you to be much aware of.

Many altcoins you are seeing right now are build on "Make the project, promise the entire world rare utilities and never really deliver anything, they will keep using words and investors will keep hoping.

That was the case during the bull market, unfortunately hundreds of projects managed to attract the crowd then died slowly like NFTs projects or suddenly like Luna and FTT.
According to Coingecko, the popular Cryptocurrencies prices tracking website, 40% of the coins that were listed in 2021 are now dead, and that's measured by many factors like trading volume in the last two months, or news revealing a scam project, or even a self request from a project owner to deactivate the tracking.
This happened before and will continue to happen as long as the market still unregulated yet I believe people have now more resources than before to spot a scam project.

[passwordnow]

Bitcoin is the prime choice for long-term investment. Altcoins are the way to make profits in the short term. Altcoins are more risky than Bitcoin. Learn more about the project itself before investing in the altcoins you see. Don't be fooled by "surfaces". Many altcoin projects are scams. Don't trust strangers easily. No one wants others to be luckier and richer than themselves.

People have seen the wave in altcoins and they want to invest shortly and go away afterward when they've made a profit. That can't be helped and changed because that's how they perceive the market.
It's true that many of them are scams and those type of investors are prone to it no matter what they try to achieve and the way they pick their altcoins to invest, that's just going to hit them hard later on when the altcoin they've invested is unknown and runs away.

[KINVAN e]

well at the end of the day, it's definitely depends in the team themselves, there might be some coins that only suited for long term holding that is the majority of meme coins and the others might be some trending coins.
But if you could somehow find some promising project it could turns out to be massive returns after long term holding but of course these are very rare, surely coins like matic and solana which could scores this tremendous amount of valuation nowadays begins as a new coins that being underestimated, but they could make themselves famous.

Yes, the team is very important, and the economic model of the project is even more important. Times create heroes, and projects that get opportunities must follow the trend.
But there are a lot of liars with luxurious packaging, and it is necessary to study carefully whether there are any flaws in all aspects of them.

[Shinpako09]

Not just in alts, this also applies to every decision and every investment you make. Investing in altcoin, especially newly created project needs deep research. Those are high-risk, high-reward investments. It's the same in the ICO era, abandoning the project once they profited from it until now in NFT and the sad reality is it will always be even in the future.

[Questat]

Not just in alts, this also applies to every decision and every investment you make. Investing in altcoin, especially newly created project needs deep research. Those are high-risk, high-reward investments. It's the same in the ICO era, abandoning the project once they profited from it until now in NFT and the sad reality is it will always be even in the future.

Most of these new projects now are hyped and it was really tempting because of the high rewards but later on, they'll turn into scams and run all the money from their investors. Sometimes they create dramas in order not to take all the blame. Now, it was really hard to invest trust in newly created projects and I feel that we're getting worse as more and more new projects come without a working product to support their platform.
If this situation will continue, not to wonder why there is a declining growth of altcoins investors than Bitcoin.

[posi]

Not just in alts, this also applies to every decision and every investment you make. Investing in altcoin, especially newly created project needs deep research. Those are high-risk, high-reward investments. It's the same in the ICO era, abandoning the project once they profited from it until now in NFT and the sad reality is it will always be even in the future.

Most of these new projects now are hyped and it was really tempting because of the high rewards but later on, they'll turn into scams and run all the money from their investors. Sometimes they create dramas in order not to take all the blame. Now, it was really hard to invest trust in newly created projects and I feel that we're getting worse as more and more new projects come without a working product to support their platform.
If this situation will continue, not to wonder why there is a declining growth of altcoins investors than Bitcoin.

For me, altcoins are just a place to look for quick profits, we cannot expect any future development or they will be used in real life like what the developers did promise. The altcoin market has been growing for more than 10 years so far, and no project has been put into practice, all technology is on paper. So don't believe what they promise, all they want is money, leave them before they hurt you. Altcoins will never cease to be attractive, as long as there are hyped projects, they will always attract investors.

[bitgolden]

For me, altcoins are just a place to look for quick profits, we cannot expect any future development or they will be used in real life like what the developers did promise. The altcoin market has been growing for more than 10 years so far, and no project has been put into practice, all technology is on paper. So don't believe what they promise, all they want is money, leave them before they hurt you. Altcoins will never cease to be attractive, as long as there are hyped projects, they will always attract investors.

This is basically the correct way to approach the new coins. I mean if they just tell you that they will bring you some rocks from mars, would you really believe it? Obviously anyone who can do that would be already in big business, so do not believe the people who promise you the worlds. It's better to understand that we should not be focusing on anything that crypto world would do, it's going to be a bit of a trouble if you believe everything everyone says.

We should be comparing the world of crypto with stock world and that means it's not going to be always up, and not going to be always down, it's going to be in circles and that will be great for everyone.

[wxa7115]

Bitcoin is the prime choice for long-term investment. Altcoins are the way to make profits in the short term. Altcoins are more risky than Bitcoin. Learn more about the project itself before investing in the altcoins you see. Don't be fooled by "surfaces". Many altcoin projects are scams. Don't trust strangers easily. No one wants others to be luckier and richer than themselves.

It is very important to not be fooled by the image that the scammers are trying to sell, scammers are very good at emulating good projects as not only they steal their image but they even steal their white paper and just change a few things here and there so their project looks to be a legitimate one.

However if you really do your due diligence you will see a few cracks on their facade, and you must never ignore them as those cracks should be enough of a read flag for you to ignore that project, however we need to also be honest and say there are some scams that are incredibly obvious, like those which offer a huge return on your investment, and yet those projects still gather millions of dollars from investors all the time.

[Mr. Magkaisa]

Because almost most altcoins are just shitcoins and scams. And those are often seen in IEOs, ICOs, IDOs, and others, so the community here in the crypto industry is cautious. Although, sometimes there are altcoins that can provide profit in the short term.

Perhaps this is one of the reasons why many gamble with this belief that they shouldn't, then end up crying when no profit returns to their capital.

[fmz89]

Some people said this industrial magic coin, and “money perspective” shifting pretty fast, most of retail dont know dev/marketing lying about their project, some yield farming, play to earn, and many things, releasing money as peoples thoughts that was money, but NO, they just release token from thin air lol, just like your mine bitcoin, base reward (meaning this not money) + fee transaction (this was real money) or real economics

[Rufsilf]

Because almost most altcoins are just shitcoins and scams. And those are often seen in IEOs, ICOs, IDOs, and others, so the community here in the crypto industry is cautious. Although, sometimes there are altcoins that can provide profit in the short term.

It can't be denied that most of the altcoins are worthless in the real world of crypto but as we can see, many people are still looking for altcoins. Maybe it is because some of them are worth investing in and also ideal for long-term investment.

Perhaps this is one of the reasons why many gamble with this belief that they shouldn't, then end up crying when no profit returns to their capital.

It was wrong if we consider investing as gambling unless we invest blindly and really have no intention to make a profit.
People had lose their money from investing altcoins because they are investing the wrong coins.

[monineklutak]

Because almost most altcoins are just shitcoins and scams. And those are often seen in IEOs, ICOs, IDOs, and others, so the community here in the crypto industry is cautious. Although, sometimes there are altcoins that can provide profit in the short term.

Perhaps this is one of the reasons why many gamble with this belief that they shouldn't, then end up crying when no profit returns to their capital.

It's not easy to find potential altcoins, it takes a lot of time to do research first,
especially with the current conditions which are bearish we also have to be patient,
The important thing is to always be careful before investing

[TalkativeCoin]

Because almost most altcoins are just shitcoins and scams. And those are often seen in IEOs, ICOs, IDOs, and others, so the community here in the crypto industry is cautious. Although, sometimes there are altcoins that can provide profit in the short term.

Perhaps this is one of the reasons why many gamble with this belief that they shouldn't, then end up crying when no profit returns to their capital.

It's not easy to find potential altcoins, it takes a lot of time to do research first,
especially with the current conditions which are bearish we also have to be patient,
The important thing is to always be careful before investing

I feel like the best chance for an altcoin to organically and "truthfully" grow within the realms of its (tech) ideology is to get picked up by a (non-crypto) legitimate project that sees it expanding its goals.

Other than that, if you filter away the non-honest altcoin projects that want to make it on their own, It's probably something along the line of the startup scene, one in ten will probably have some kind of perceived success.