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

[zeuner]

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.

One problem today (when compared to the time when the first altcoins were started) is that new altcoins are almost bound to avoid PoW because it's almost impossible to start with enough mining power in order to avoid 51% attacks. This puts limits on what new altcoins can achieve as long as no one invents a real replacement for PoW.

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[My ThuiHa]

Bitcoin is a long-term investment option among cryptocurrencies. Gaining profits in the short term is still through altcoins. Although I am not a day trader, I still keep an eye on the market from time to time. The ups and downs of altcoins are greater than that of Bitcoin. It is suitable for you to trade within the range. I think newcomers should observe the market more, and invest a small amount to feel the market.

[Terezi]

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.

Altcoins can indeed bring benefits to investors. Most altcoins were profitable at first, but over time there were many altcoins that could not survive the bear market, most only in the short term. Be more vigilant and patiently analyze and research when investing in new altcoins to avoid more losses.

[fzkto]

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.

Altcoins can indeed bring benefits to investors. Most altcoins were profitable at first, but over time there were many altcoins that could not survive the bear market, most only in the short term. Be more vigilant and patiently analyze and research when investing in new altcoins to avoid more losses.

Buying altcoins during a bear market and selling them during a bull market can be a good strategy for investors. The main thing is to choose new altcoins every new market phase, because old coins die more often. And it is better not to get attached to such projects. Sell and forget. That way you can minimize the risk of losing money.

[nidacoinlove]

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.

Altcoins can indeed bring benefits to investors. Most altcoins were profitable at first, but over time there were many altcoins that could not survive the bear market, most only in the short term. Be more vigilant and patiently analyze and research when investing in new altcoins to avoid more losses.

Buying altcoins during a bear market and selling them during a bull market can be a good strategy for investors. The main thing is to choose new altcoins every new market phase, because old coins die more often. And it is better not to get attached to such projects. Sell and forget. That way you can minimize the risk of losing money.

It's not just buying in a bearish market, one needs to seek for potential alts that could make it through the bearish as well. With every coming day things get refined and new features are added to the alts. Therefore, it is must to go through the white paper and also to see the credibility of the technical team behind the project.

[fzkto]

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.

Altcoins can indeed bring benefits to investors. Most altcoins were profitable at first, but over time there were many altcoins that could not survive the bear market, most only in the short term. Be more vigilant and patiently analyze and research when investing in new altcoins to avoid more losses.

Buying altcoins during a bear market and selling them during a bull market can be a good strategy for investors. The main thing is to choose new altcoins every new market phase, because old coins die more often. And it is better not to get attached to such projects. Sell and forget. That way you can minimize the risk of losing money.

It's not just buying in a bearish market, one needs to seek for potential alts that could make it through the bearish as well. With every coming day things get refined and new features are added to the alts. Therefore, it is must to go through the white paper and also to see the credibility of the technical team behind the project.

I absolutely agree with you that you need to spend a lot of time to research the project you are interested in in order to avoid scams. But as practice shows, even reliable projects can go bankrupt, such as the recent story with TERRA LUNA. So you can never put all your eggs in one basket and you should always diversify risks.

[lobo13hf]

definitely not all the altcoins could ever give benefits, it works just like other investments, the relatively low valued and volatile coins that is the altcoins could always gives tremendous benefits but at the end of the day that truly delivers are just very few of them. therefore they have potential, but still need to see their growth in knowing whether your investments could brings profit and benefits to you.

[Sterbens]

definitely not all the altcoins could ever give benefits, it works just like other investments, the relatively low valued and volatile coins that is the altcoins could always gives tremendous benefits but at the end of the day that truly delivers are just very few of them. therefore they have potential, but still need to see their growth in knowing whether your investments could brings profit and benefits to you.

True, of the many altcoins, only a few of them provide benefits for their holders. It will be very difficult to determine which altcoin is good for us to invest. It requires deeper analysis, and even if we do that sometimes it doesn't go as we expect. I've often come across coins with great projects supported by large communities that end up being disappointed or even perceived as fraudulent projects.
When talking about altcoins, sometimes luck is also a factor that will determine whether we are profitable or not. Coins deemed to have no potential sometimes take surprising steps.

[Rodriguezan]

Personally, I think altcoins having the full potentials to making investors financially free.

[so98nn]

This does not work same for everyone. There are good investors with plans and strategies which are making them millionaires just by investing their money on alts. Obviously we keep suggesting that Do not invest money in alts because they are weak hands. However, have you ever noticed the volume that goes into alts? For that matter consider the oldest alts and those in the top 100. They are doing great, they are around bitcoin as the same age of it and making good returns for traders. May be it’s about how you make investment and not just the random investments and hopes for mega returns.

[Derrickiell]

Altcoins can bring economic benefits to investors, but you should choose potential altcoins through your own understanding. The risk of altcoins is greater, and most of them are profitable at the beginning, but they will gradually disappear. There are more and more altcoin projects in the market, most of which are hype and scams, so you must be careful when choosing to invest.

[ningrum]

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.

Altcoins can indeed bring benefits to investors. Most altcoins were profitable at first, but over time there were many altcoins that could not survive the bear market, most only in the short term. Be more vigilant and patiently analyze and research when investing in new altcoins to avoid more losses.

Buying altcoins during a bear market and selling them during a bull market can be a good strategy for investors. The main thing is to choose new altcoins every new market phase, because old coins die more often. And it is better not to get attached to such projects. Sell and forget. That way you can minimize the risk of losing money.

It's not just buying in a bearish market, one needs to seek for potential alts that could make it through the bearish as well. With every coming day things get refined and new features are added to the alts. Therefore, it is must to go through the white paper and also to see the credibility of the technical team behind the project.

I absolutely agree with you that you need to spend a lot of time to research the project you are interested in in order to avoid scams. But as practice shows, even reliable projects can go bankrupt, such as the recent story with TERRA LUNA. So you can never put all your eggs in one basket and you should always diversify risks.

True besides that sometimes some people are impatient in the process and of course it's very unfortunate,
putting eggs in just one basket will make the risk even greater and it is not recommended,
with risk diversification at least it minimizes risk

[dezoel]

Having some staking that works for you would be the dream come true. Imagine having a situation where you make 10% yearly and it's guaranteed, and then you put 10% of your salary in there every month as well, which means that 10% you make grows bigger and bigger, while also the price of the coin grows each year as well.

Eventually you will end up with making some sort of profit and yields will be so huge that you could live off that as well. That's the dream, having an asset that goes up, will paying for your living costs at the same time. Houses are great investments because of this and it's true for all over the world, not just one nation neither.

[Marcorey]

Altcoins can provide great returns to investors. Some altcoins have already delivered decent returns to their holders. If you have enough experience to choose and invest in potential currencies, you can make profits in a short period of time. There are also many scam projects in the crypto market, so choose your own.

[Margaretv]

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.

It has been nearly 5 months since you posted the post, I would like to know what is your situation now? Is the mental state okay? As a novice, working 7*24 hours will make people feel very tired, especially in the second half of this year, the market has fallen very sharply. I wonder what altcoins you chose? Do you make contracts on a centralized exchange? If so, you have entered a dangerous situation.

[Victorik]

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.

Yes they do. Many have made a fortune from trading altcoins and some have also lost a fortune trading altcoins.
So I'd advise you tread very carefully, there are a lot of scam out there parading themselves as the next big thing in crypto, invest without proper investigation and lose your money.