Are Altcoins Fake?

[Best-mary]

One fascinating aspect of altcoins, especially the good ones, is the potential for significant profits. I'm aware that not everyone agrees with this, as there are often arguments that altcoins are just another form of 'shitcoin' meant to deceive and exploit people, with Bitcoin being the only legitimate cryptocurrency.

First and foremost, it's true that Bitcoin is considered the king of cryptocurrencies, and that status is unlikely to change. However, let's talk about the profit potential. Some coins, which we hold before the altcoin season, can provide substantial returns compared to Bitcoin. Speaking from experience, I held AGIX, INJ, RUNE, and ETH before the recent positive trend in the market. We can observe how much the market has appreciated, and it may continue to do so until the end of the month.

Imagine if you're the type of person who held these coins earlier, even when the market was in a downturn. You would understand how much you've earned just by holding.

Identifying a good coin requires thorough research, and more coins are continuously being developed. I recently noticed TIA listed on some exchanges and has been doing significantly well in price upsurge. Maybe due to the altseason we are in. But, If a coin has a strong community and utility, it's likely to perform well in the long run.

The essence of all this is that some individuals might not openly share this, but the world of cryptocurrency is versatile, and conducting in-depth research is key to achieving profits.


EDIT: Okay, it seems that many people don't fully understand what I'm trying to convey. Not all coins are fake. While I know that some do understand my perspective, let me clarify some misconceptions.

I'm not generalizing all altcoins as worthless. No, I understand that some individuals view altcoins negatively, possibly because they invested late during the coin's peak hype or chose the wrong coin.

The easy way to navigate this is by: a. Trying out Centralized Exchanges and conducting in-depth research, as I mentioned earlier.

How can this help you (I won't go into detail, but I'll keep it brief. When I have more time, I'll write a post on how to find profitable coins).

Steps to find good coins, as I mentioned earlier:

Using a centralized exchange offers security. Why is that so? There is a multitude of coins being developed daily on DEX, and verifying their legitimacy might be as low as 10%. This is why many people end up getting rug pulled when trying to get in early or buying a coin expecting it to rise. Those who do this are called "Degens." Unless you have mastered the method of buying a coin on DEX that favors you, what you buy is often referred to as a "Shitcoin."

By using a centralized exchange to obtain a coin, you have a 50-70% chance of avoiding a Shitcoin or a rug pull. The two exchanges I prefer for buying altcoins are Binance and Bitget. However, the latter lists more altcoins than the former, so I primarily use it as they continue to add good altcoins. The remaining percentage is for me to conduct my own in-depth research, including checking their Whitepaper, community, and other factors that can qualify the altcoin as a long-term or short-term hold.


So, it's essential to understand that there's always a distinction between "Bitcoin, Altcoins (offering both short-term and long-term profit potential), Shitcoins (promising quick profits but with risks), and Rugpull coins."

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[Samlucky O]

One fascinating aspect of altcoins, especially the good ones, is the potential for significant profits. I'm aware that not everyone agrees with this, as there are often arguments that altcoins are just another form of 'shitcoin' meant to deceive and exploit people, with Bitcoin being the only legitimate cryptocurrency.

Altcoin to some people seam to be another version of shitcoin .there are many people out there who invested in altcoin and didn't benefits from it. These factor made them to dislike altcoin. It might be that some benefited but majority didn't benefit. There are altcoin with good potential but too much flooding of fake altcoin in the crypto space made people not to spot the difference between them. If you ask me the best altcoin to invest on I can't tell you neither, because I was also a victim. Now I chose Bitcoin over all other coin and it's my decision. Anyone has his own choice.

[btc78]

One fascinating aspect of altcoins, especially the good ones, is the potential for significant profits.

agreed it might be tricky to spot the ones with really good potential especially if they had just been launched but i believe being able to identify a potentially profitable project is something worth having and will definitely help you in the long run

some might not believe in altcoins but we need to remember the primary purposes of altcoins and that is to improve on some aspects of the leading cryptocurrency

Identifying a good coin requires thorough research, and more coins are continuously being developed.

exactly, a lot of altcoins have high offers of profit and a really bright potential cryptocurrency is not only limited to bitcoin and ethereum and especially beginners don’t know this hope everyone understands and appreciates the vast world of cryptocurrencies

[tvplus006]

One fascinating aspect of altcoins, especially the good ones, is the potential for significant profits. I'm aware that not everyone agrees with this, as there are often arguments that altcoins are just another form of 'shitcoin' meant to deceive and exploit people, with Bitcoin being the only legitimate cryptocurrency...

You are generalizing all altcoins that are not really similar to each other. For example, how can ETH be compared with some shit coins, although both are altcoins. And in this case, to say that ETH is "designed to deceive and exploit people" is not correct at all.

[kentrolla]

If you would have said this in 2016 I would have disagreed but now it's a mixed feeling because there are thousands of altcoins and anyone can create shitcoin which is termed as altcoins but back in the days that was not the case as altcoins had some services to offer which were not available but since we started using Altcoin just as a mean of investment rather than looking at the technology it offer that's when any random person started creating Altcoin with plagiarised roadmap and whitepaper and ICO is th mother of all these shitcoins wherein users were following the trend like sheeps and investing in ICOs out of greediness and even boasted about it until the bubble bursted, even now nothing has changed as people keep investing in shitty projects related to NFTs and virtual real estate which has zero uses in real life and we blame all the altcoins ? no not all altcoins are fake but the majority of altcoins created has gone astray due to sick mindset of developers.

[Johnyz]

There are alt coins that are fake and a scam project. this is why it's advisable to always do your own research and invest only on a good projects.
Altcoins are not fake in general, most probably you only choose the wrong altcoin and that's why you are losing the money. Bitcoin along with the altcoins will make this market more aggressive and grow more, lucky to those who made an effort to invest during the bear market because they are already reaping what they sow during those time.

[MAAManda]

99% of altcoins will become scams someday, this is because of the themes that altcoins carry themselves, just hype and more hype. If we compare it to the real world, Bitcoin (BTC) is gold, while altcoins are just FIAT currencies from various countries. Altcoins are indeed the most conservative way to earn multiple profits than Bitcoin (BTC), but they lack fundamentals on the sustainability side. Now you said about Celestia (TIA), what else tomorrow? we've seen things like this some time ago like Aptos (APT) and Sui (SUI).

[danherbias07]

I think that was said in this forum for like a millionth time.
"Research is the key."
I don't disagree with that but sometimes that is being ignored now because of repeated times that it was discussed.
I bet many veterans in this forum would not even care about replying to this kind of thread because they have seen this a lot of times.
Still, I do believe that we should take the "research" seriously and not just take it for granted. Don't stop at reading just the whitepaper although it is boring.
Check the team, check how they are marketing their project, look for what products they can offer that are essential in the economy today, and more.
I have supported a lot of projects before and some did success while most failed. We should also look at how the market will behave because we could be supporting a good project but what if it's at the wrong time while something else is being hyped? We may be wasting our time in doing so.

[Essential10]

Not all altcoins seem fake to me. Altcoins, as an acronym for Alternative Coins, refers to all cryptocurrencies other than Bitcoin. Examples include Ethereum, Ripple, and Litecoin. Although they are not as widely recognized or used as Bitcoin, they have real value and are traded on various cryptocurrency exchanges. However, as with any investment, it is important to do research and understand the risks before investing in altcoins or any other cryptocurrency. Yes, that's right. The cryptocurrency market has seen the rise of numerous altcoins, some of which have turned out to be scams or fraudulent schemes. It is essential for investors to do research and exercise caution before investing in any cryptocurrency to avoid falling prey to such scams.

[AbuBhakar]

One fascinating aspect of altcoins, especially the good ones, is the potential for significant profits. I'm aware that not everyone agrees with this, as there are often arguments that altcoins are just another form of 'shitcoin' meant to deceive and exploit people, with Bitcoin being the only legitimate cryptocurrency.

To cut the chase, what’s your definition of of real cryptocurrency because most of the altcoins is derived from the the idea of Bitcoin blockchain that later on evolved to different protocols just to solve scalability issue on blockchain.

Altcoins is not fake rather just an alternative that’s why they are called altcoin. Bitcoin is ten father of all crypto but that doesn’t mean it’s the only real crypto. Altcoins cover different sector in our life which blockchain technology can be applied.

[EmpoEX]

By reading this thread, I realized there is no connection between your thread and the title. Answering to your thread title, No, altcoins are not fake if you know the coin. Anyone can create a coin/token these days. Anyone can fool others by creating fake tokens. Among the fake tokens, you can still verify real coins by checking the smart contract address.

[goaldigger]

They are not fake but some are just scam projects and you can still consider it as an altcoin because of its technology.
We've seen a lot of successful and failed projects for the past decade and we will still see more in the coming years.
If you are going to invest, it's a must to do your own research, analyze it and know if the project is legit or not to avoid getting scammed. If you are into altcoins don't be afraid because the top altcoins can still deliver and there's still a way for you to make profit from those top projects. New projects are more prone to rug pull, so make sure you can afford to take such risk before you fully invest.

[avikz]

Majority of the altcoins are fake but not all. Some altcoins are created by corporates with vision and capabilities. But majority of the tokens and altcoins are nonsense. The top 10 cryptocurrencies in CMC might have some use, but rest are just gambling.

I personally hold millions of dead tokens. If these tokens had ever reached to it's promised price, I would have become a billionaire by now.

[Biznesmen]

I have no idea if you believe all altcoins are fake or if you are going to trade just Bitcoin. There are some categories of altcoins, like shitcoin, stable coins, tokens, etc. You can distinguish them and act accordingly. But you can't tell all altcoins are fake; it led to shutting down the new era of the crypto market and its infinite opportunities. Altcoins are mainly created to overcome the disadvantages of Bitcoin. And it really is doing well too, and I agree that there are fake altcoins there too. Be aware of that. Many people love altcoins (especially meme coins) more than Bitcoin. In my opinion, only people who believe altcoins are not real are totally unaware of the potential of altcoins.

[Best-mary]

One fascinating aspect of altcoins, especially the good ones, is the potential for significant profits.

agreed it might be tricky to spot the ones with really good potential especially if they had just been launched but i believe being able to identify a potentially profitable project is something worth having and will definitely help you in the long run

some might not believe in altcoins but we need to remember the primary purposes of altcoins and that is to improve on some aspects of the leading cryptocurrency

Identifying a good coin requires thorough research, and more coins are continuously being developed.

exactly, a lot of altcoins have high offers of profit and a really bright potential cryptocurrency is not only limited to bitcoin and Ethereum and especially beginners don’t know this hope everyone understands and appreciates the vast world of cryptocurrencies

Yes, it is very tricky to site good alts if we are trading it on Dex. Sometimes, if one is lucky they will escape rugpulling.

What I do when it comes to trading altcoins is, I wait for coins that will be listed on a cex, and with that, I take full advantage of it and search more about it such as that TIA now

[batang_bitcoin]

Some altcoins or let's say that they are many now that are becoming fake and being soft launched in the market. They're just testing the waters if they're going to become popular and gain volume. But not all of them are fake, we know that there are legitimate ones and is being used by many like the top ones. If you're in the new ones, you'll have to deal with the risk that they bear usually when they come out freshly to the market. So if you have earned like the new releases and they're being listed in good exchanges, you won't call them fake because you earn upon dumping it.

[Spaceman1000$]

One fascinating aspect of altcoins, especially the good ones, is the potential for significant profits. I'm aware that not everyone agrees with this, as there are often arguments that altcoins are just another form of 'shitcoin' meant to deceive and exploit people, with Bitcoin being the only legitimate cryptocurrency.

First and foremost, it's true that Bitcoin is considered the king of cryptocurrencies, and that status is unlikely to change. However, let's talk about the profit potential. Some coins, which we hold before the altcoin season, can provide substantial returns compared to Bitcoin. Speaking from experience, I held AGIX, INJ, RUNE, and ETH before the recent positive trend in the market. We can observe how much the market has appreciated, and it may continue to do so until the end of the month.

Imagine if you're the type of person who held these coins earlier, even when the market was in a downturn. You would understand how much you've earned just by holding.

Identifying a good coin requires thorough research, and more coins are continuously being developed. I recently noticed TIA listed on some exchanges and has been doing significantly well in price upsurge. Maybe due to the altseason we are in. But, If a coin has a strong community and utility, it's likely to perform well in the long run.

The essence of all this is that some individuals might not openly share this, but the world of cryptocurrency is versatile, and conducting in-depth research is key to achieving profits.

Why some people still see atlcoin on the negative side, this might have been as a result of one coin they must have invested in, that did not  yield something good, so that negative experience has really given them a sense to tag all altcoin as shitcoins. Meanwhile that's not entirely true, there are whole lot of atlcoin that are doing very well, that you can invest and hold on to it to grow and it will give you a return on your investment, you just need to do your research properly in the market before investing. So in answering your question, altcoins are not fake.

[Raflesia]

Altcoins are real and I don't think we can say that altcoins are fake because the evidence is already there and many altcoins that exist today are circulating so that indicates that altcoins are real but when talking about profits and fraud it is different in terms of context because in the end we already know that most of the altcoins or projects that exist today are hoaxes but we cannot say that they are fake because altcoins are real. I guess for this comes from our thinking because at the end of the day even if we don't believe in altcoins it doesn't mean that it is something fake because at the end of the day there are still some projects that are running and still viable like some of the big altcoins like ETH, BNB etc. But on the other hand we also have to realize that even though we don't believe in altcoins, it doesn't mean it's fake. But on the other hand we must also realize that this is only a small percentage of the majority that are indeed scams.

I don't really like being in altcoins right now because I am fully devoted to bitcoin, but I don't think that altcoins are fake because there are still some projects that can still run even though I am not in them.

[Belarge]

Some altcoins or let's say that they are many now that are becoming fake and being soft launched in the market. They're just testing the waters if they're going to become popular and gain volume. But not all of them are fake, we know that there are legitimate ones and is being used by many like the top ones. If you're in the new ones, you'll have to deal with the risk that they bear usually when they come out freshly to the market. So if you have earned like the new releases and they're being listed in good exchanges, you won't call them fake because you earn upon dumping it.

We should never triggered positions in the market without mapping good strategies, instead let the market comes to us, triggered our buy and sell limits. Our opinions differs depending on our experience in the system, there are numerous projects we have encounter, some turn out to be legit and profitable while others are scammed projects that embezzled all our initial capital, leaving us in deep regrets. I'm not following the trends, rather sticking to price actions, because that's one of the smooth techniques in the process of generating substantial capital. Most altcoins are fake, they mostly turned into scam projects in the space.

[batang_bitcoin]

Some altcoins or let's say that they are many now that are becoming fake and being soft launched in the market. They're just testing the waters if they're going to become popular and gain volume. But not all of them are fake, we know that there are legitimate ones and is being used by many like the top ones. If you're in the new ones, you'll have to deal with the risk that they bear usually when they come out freshly to the market. So if you have earned like the new releases and they're being listed in good exchanges, you won't call them fake because you earn upon dumping it.

We should never triggered positions in the market without mapping good strategies, instead let the market comes to us, triggered our buy and sell limits. Our opinions differs depending on our experience in the system, there are numerous projects we have encounter, some turn out to be legit and profitable while others are scammed projects that embezzled all our initial capital, leaving us in deep regrets. I'm not following the trends, rather sticking to price actions, because that's one of the smooth techniques in the process of generating substantial capital. Most altcoins are fake, they mostly turned into scam projects in the space.

Good for you if you are not following the trends and you're likely avoiding most of the scam projects that are released in the market. That's how many of the new investors gets in to these fake and scam altcoins. Because of their desire to cope with the trend and hype, they invest in almost everything they see and that's why they fall to projects that are just sucking their money and they don't know how to recover it because there is no way to recover it if you're going to ask me about it unless they recover in other ways or methods.