Should Beginners always avoid Altcoins

[Plutomanian]

For their own safety, I’ll say YES, they should try as much as possible to avoid investing or holding altcoins. This is because there are several of these altcoins that have flooded the crypto space, and majority of them are just pump and dump projects, promising high ROIs, and for beginners it can be very easy to fall for these kind of traps and end up getting rug pulled at the end of the day.

Newbies should always be careful in the market because they might never know what's coming their way if they don't brace up because the market will always go against all one's plans, and there's absolutely nothing we can do about it other than just sitting down here and ensuring we're able to come up with a strategy that will become more strategic for us. Cryptocurrency is not for the weak, we should be having our time out and making preparation for the projects to invest on.

Newbies have a very long way to go, and not having anything to do with altcoin will just safe the orders of the day, I know it's too soon but what more can we do?we should know by now that many of these altcoins are driven by hype in the market and not even price actions and utility, an inexperienced investor or trader will fall victim and chop losses.

[Sonia_123]

Yes for those beginners that does not know anything about altcoin,  they need to avoid altcoin since they they are still new to the system, for those ones that already knows about and understand it can go into it if they like but for me bitcoin remains the best and they should stick and always invest in bitcoin because the risk involved is lesser than altcoin.

[Mate2237]

Altcoins are even complicating to those who has been there for a while in the crypto space, so it not advisable for someone who is just coming to crypto currency to dive into Altcoins. Altcoins is defined by it non stable nature which is why most people don't give attention to it. It will be highly risky for a newbie to start with Altcoins. If the expected result is not seen by the newbie it has the ability of discouraging the newbie from crypto currency as a whole.


Bitcoin is more stable and trustworthy when compared to Altcoins, Bitcoin is less risk free and easier to understand. When it comes to Bitcoin what is most important is investing and keeping it which is pretty simple if you ask me. What is most important for a newbie is understanding how Bitcoin works. Most people who look the way of altcoins is because of the so called potential gain that they perceive to be , but what they don't know is that most of those things are hyped.

[Jaycoinz]

As a beginner in crypto trading or investment it is important to make sure that you carryout proper research before making an investment in altcoins, you can avoid them in rge beginning but not totally. it is advised to start with Bitcoin and subsequently you can move further into altcoins investment but of course this is after you must have carried out your research. As a newbie avoid trying to make quick profits in the crypto market because most beginners that invest in altcoins actually have this in mind that's why they end up losing a lot and saying crypto is a scam but they are the ones making the mistake.

[yixichloro2xx]

Altcoins have no value, Their whole  drive depends on hypes and quick pumps, and nothing more. It's a dangerous place for beginners to invest their money in because no matter how you want learn about Alts, it doesn't even guarantee them 40% chance of profiting. From my own experience, there's no joy in Altcoins,only the early birds are the ones that often see profit while many late investors become exit liquidity. You can't invest into Altcoins, you only try to scalp off profits (through trading) before it dump , which makes it very risky. Beginners should rather invest on asset that has proven itself time to time, assets that doesn't need hype from community before it can move. Even Bitcoin itself is also risky, but if compared to that of Altcoins , Bitcoin is lower especially if beginners approach it with long term investment mindset. By doing that, beginners must figure out their discretionary income, use DCA strategy, have patience and discipline to hold through different cycles.