How to find and hold in Atlcoin effectively?

[Kelward]

This is my process for finding an Altcoin (new project) for long-term investment

Having said that, because of the lack of utility in altcoins, i buy only Bitcoin, but if i must advise people on altcoins, i'd tell them to purchase altcoins that have been in the market for sometime and already have a "strong" community.

The steps that is listed in the OP are helpful tips to choosing altcoins to buy, however as you've also noted, an investor can use the strategies and end up buying scam projects or new projects that are legit from the beginning later they're value will end up becoming worthless. The fact is that new projects are risky, even after researching them, they might end up not being profitable in the long run. Like you if I plan to buy altcoins, it'll have to be the ones that have proven their reputations in the crypto market, like Bitcoin, because I like to minimize my risks.

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[Volimack]

As far as I'm concerned it's best to do market research to find altcoins. Then you can know about which coins are good in the market. It is best to try to stay away from new coins as they are almost scams. And if you plan to hold for long term then you can choose BNB and Eth they are safe currency and not scam. These coins will give good returns as the value of bitcoin increases.

[Moreno233]

In short, choosing a new Altcoin for the next growth season is very important, requiring patience and research from you. But besides that, determining a reasonable holding period is equally important.

Making a decision on investing on altcoins is very easy to achieve, but seeing a reliable coin to invest into is very difficult, if you also made an investment, you must monitor it, some are good to hold for a long time while some were at risk if you're holding them for long, but the best idea here to suggest is in giving a decision to always begin your investment with bitcoin before diving into any other altcurrencies, so that if any shady stuff should occur, you will always have where to fall back on for recovery.

The decision to invest in an altcoin may not be easy as you think because a lot of factors must be put into consideration if you have to invest with peace of mind. Investing in altcoins is not so much of a mistake provided proper research have been done about it and it has also gain traction in the market. The problem with altcoins that have gone to this extent is that it would have already given much of its profits before getting to this stage. But in terms of risk, it is still better and safer than new coins that the future is not yet certain. Scammers can actually create new tokens with the intention of collecting people's money.

 

[jrrsparkles]

I would never think of holding an altcoin even if its a reputable one like Ethereum because stats says it doesn't worth it.

HODL is the term we prefer to use for long-term investment like atleast 4 years, and its too risky to pick something like altcoin which has uncertain future or the price has been stagnant over the years even while bitcoin is going bullish for over a year when we compare litecoin, monero and ethereum.

[Sophokles]

There are aggregator platforms where you can find all the new shiny crypto on the market. Even so, they have filters that you can use to pick the right one for you. To justify a project as legit or not, a person needs long experience and some insight about the industry. A good project should have a strong team, VC funds, community, and social presence; otherwise, it won't be possible for them to survive the market if they have the intention to do so. Tokenomics is also important for the long-term stability of the price.

[beerlover]

The steps that is listed in the OP are helpful tips to choosing altcoins to buy, however as you've also noted, an investor can use the strategies and end up buying scam projects or new projects that are legit from the beginning later they're value will end up becoming worthless. The fact is that new projects are risky, even after researching them, they might end up not being profitable in the long run. Like you if I plan to buy altcoins, it'll have to be the ones that have proven their reputations in the crypto market, like Bitcoin, because I like to minimize my risks.

Yeah true, you can do all you have to do and you could still invest into something that may not be all that great, we should be careful with what we are investing into and if we are not careful then we are going to end up losing a lot of money. We just need to do all that we can, and if we are right then we are going to be doing good, if we are wrong then there is really nothing that we can do about it.

So, it is clear that we are going to end up with a good return that will be very profitable for us, and that has to be something that we all agree on. Keep your strategy going and even if you lose, do not lose your temper and keep a strict plan, that way you could do better eventually when you have the time and next time you could make a profit and make up for that loss.

[irhact]

I would never think of holding an altcoin even if its a reputable one like Ethereum because stats says it doesn't worth it.

Your stats aren't correct or can you make it more clearer to use as holding Ethereum has been profitable and some other altcoins too. Some memecoins also giving good profits if you hold it instead of selling it. BNB has been profiting to individual that are holding it instead of selling it to make profits. It's not all altcoins that are useless as some individuals are saying. Altcoins has made a lot of individuals profits and it'll keep making them profits including this bull market that's coming.

Any altcoin that you want to hold has to been worth it and you should have done your research to make sure you're investing in a top quality project and not a random project that is looking to scam their investors. Altcoins that we should be holding should be those that have clear future plans and not does only getting launched with similar names to already existing projects and looking to benefit from their hype.

[oktana]

Not a bad strategy. Your last paragraph is really insightful and to add to that I would say that when you have found the altcoins you think are worth your money and you’ve purchased some, keep an open mind. Don’t think that because you were careful when picking them that they won’t go wrong. Any altcoin can go wrong, so it would be of good advantage if you open your mind and be realistic even with all the optimism.

[jrrsparkles]

I would never think of holding an altcoin even if its a reputable one like Ethereum because stats says it doesn't worth it.

Your stats aren't correct or can you make it more clearer to use as holding Ethereum has been profitable and some other altcoins too. Some memecoins also giving good profits if you hold it instead of selling it. BNB has been profiting to individual that are holding it instead of selling it to make profits. It's not all altcoins that are useless as some individuals are saying. Altcoins has made a lot of individuals profits and it'll keep making them profits including this bull market that's coming.

I mentioned many times about the growth of ethereum vs Bitcoin, Litecoin vs Bitcoin and if you want then you can see that by yourself and then see whether bitcoin grown more or the altcoins that exists here for years did.

I am not saying altcoins don't give you profit but here we are specifically talking about HODL altcoin which is risky and I won't take it but it's my opinion though and you are free to disagree with it.

[Xampeuu]

I would never think of holding an altcoin even if its a reputable one like Ethereum because stats says it doesn't worth it.

Your stats aren't correct or can you make it more clearer to use as holding Ethereum has been profitable and some other altcoins too. Some memecoins also giving good profits if you hold it instead of selling it. BNB has been profiting to individual that are holding it instead of selling it to make profits. It's not all altcoins that are useless as some individuals are saying. Altcoins has made a lot of individuals profits and it'll keep making them profits including this bull market that's coming.

Any altcoin that you want to hold has to been worth it and you should have done your research to make sure you're investing in a top quality project and not a random project that is looking to scam their investors. Altcoins that we should be holding should be those that have clear future plans and not does only getting launched with similar names to already existing projects and looking to benefit from their hype.

It will be easier to analyze it, perhaps taking altcoins at the top of Coinmarketcap, there will be many altcoins that are less risky to invest in, considering that it will be much riskier if we invest long term in new altcoins. but indeed, if we analyze correctly, new altcoins can provide multiple profits, more than altcoins that are already trusted, but we also have to be wary of the hype that occurs, especially for meme coins

[Kelvinid]

We can do it simple
 - invest potential altcoins and don't bother to wait for many years but rather take a chance selling them when we already earn some profit.
 - avoid letting your greed, it won't help us earn more but losses
 - use reputed trading platforms rather than using new ones, it gives us funds security

Be wise and don't get fooled by influencers who thought impossible things - earning quick, high ROI, etc...promising words speak nothing, it will only disappoint us.

Do the research and take this as the basis of choosing them rather than letting others do that.

[batang_bitcoin]

While we all have the idea that many of the altcoins are going to pump in the next cycle. We have to remember that not all of them will be pumping that much. And in choosing your next big altcoin to invest, you have to dedicate your time into your research and don't be too reliant to other people just because they have their own analysis. Relying on your own analysis is still the best and whatever is in nature of how you are reading the project details, believe in yourself if you've got experience already in choosing the good ones.

[AnonBitCoiner]

In fact, to find potential projects, we have to carry out complex research, which means there are many aspects that need to be looked at. I have my own way of identifying a project, as follows:

1. Looking at the fundamentals
2. Looking at the teams
3. Looking at the investors and backers.
4. Looking at the tokenomics.
5. Looking at the community

The 5 points above are just headlines, we need a long discussion to explain them 1 by 1.

These points are good in order to choose a good coin and everyone should examine these things before investment. Team and goals of the team will helps you to find out good or worse things about project so one will not fall into a scam project.

Watch out that on which exchange the token of the project is listed and will listing in future. We cannot make decision based on identifying one thing but it will be helpful for us if we read complete details mentioned in the whitepaper of a project.

[Dr. Strange]

If you want to find a good new Atlcoin you need to look at several aspects. And you always remember one thing if you want to invest in any Atlcoin then always be careful because these are the most risky.

First of all, focus on the website, site paper of the project you want to select, because if these are plagiarism, then you will think that they have come in the market to cheat. On the other hand, check out the details of the team members. And if all these are correct then you can invest and get something good.

[letteredhub]

This is my process for finding an Altcoin (new project) for long-term investment

Having said that, because of the lack of utility in altcoins, i buy only Bitcoin, but if i must advise people on altcoins, i'd tell them to purchase altcoins that have been in the market for sometime and already have a "strong" community.

The steps that is listed in the OP are helpful tips to choosing altcoins to buy, however as you've also noted, an investor can use the strategies and end up buying scam projects or new projects that are legit from the beginning later they're value will end up becoming worthless. The fact is that new projects are risky, even after researching them, they might end up not being profitable in the long run. Like you if I plan to buy altcoins, it'll have to be the ones that have proven their reputations in the crypto market, like Bitcoin, because I like to minimize my risks.

@kelward you have just hit the nail direct about moat altcoins we have in the market, you will after all research and analysis has been done find reasons to believe that the coin was going to be a profitable coin due to the potential it showed but only to find out on the long run after invested that it didn't do as expected. There was no significant rise whatsoever, some even fall in value from the price you had initially bought and just remians there. If any investor must have to diversify his crypto investment from bitcoin to another altcoin outside ethereum which has proven scalability and more over the years I don't see myself picking at any altcoins for a long term right now, maybe not just now.

[MAAManda]

In fact, to find potential projects, we have to carry out complex research, which means there are many aspects that need to be looked at. I have my own way of identifying a project, as follows:

1. Looking at the fundamentals
2. Looking at the teams
3. Looking at the investors and backers.
4. Looking at the tokenomics.
5. Looking at the community

The 5 points above are just headlines, we need a long discussion to explain them 1 by 1.

These points are good in order to choose a good coin and everyone should examine these things before investment. Team and goals of the team will helps you to find out good or worse things about project so one will not fall into a scam project.

Watch out that on which exchange the token of the project is listed and will listing in future. We cannot make decision based on identifying one thing but it will be helpful for us if we read complete details mentioned in the whitepaper of a project.

These are just introductory points, in fact you have to dig deeper to find out exactly what they (crypto projects) do. I give an example of the tokenomics point, you have to find out exactly how they distribute token allocations and where this allocation will go, after that you have to find out information related to token unlock (vesting period), this helps you to understand when the supply will increase which will affect the token price.

[Mate2237]

This is not the first time we have discussed this issue. Though those your methods or steps are also good to find out a good project to invest. And additionall, for you to invest in any altcoin, you have to make research in it about the population of the coin, community support not the coin and the market capitalization of the coin. Then also check the  domain of the project and exchanges the coins can be exchanged.

If you don't make good research before investing in a new project the you will not give a good story of the project.

[Churchillvv]

This is absolutely what I have been looking for in this board, for some months now I have been looking for a way to find a reputable altcoin that I can invest in but I couldn't put things together to achieve this goal but with this steps that you have provided I believe I'm going to achieve it.

Now, with the little knowledge I have about cryptocurrencies (Altcoins) I have heard several times that it's never a good idea to hold altcoins for long time because most of them are usually pump and dump coins that are created around every bull run to get the Bitcoin hype and move along with Bitcoin price and after then it falls to 95% down of its ATH now with this fact/assumption I wouldn't want 5o gamble with my funds to the extent of losing them all.

[wheelz1200]

It's an imperfect science with altcoins because of the volatility.  Finding the tops or lows of an altcoin is extremely difficult so if you are going to try to time anything pick a predetermined point at which you want to exit and stick with it.  Once something has gone up its tough to let go because of the fomo, but disciplined traders over time do much better than emotional ones.

[avp2306]

Always depends on the altcoin since if they are new then I guess much recommended not to hold any of it since there's a lot of chances that they might dump by investors,bounty hunters and the dev who has a lot of allocation on the project.

But for top altcoins then I guess its no brainer that they have more potential among than any other alts since they are tested for so many years. And yet people could provably rely on them especially if they going to support those coins have a good community since provably this will be a huge factor that price of the coin will pump.