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.

[Fiasem20]

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.

Na the quest for making quick profit nai don land plenty crypto users for trouble,when you dey eager to make quick profits you go delve into tokens wey no get value and majority of them na scam projects.Na why e dey important to stick to few coins for the crypto space like the most important one na bitcoin wey dey promise better profit for the long term con still get plenty potential.As a newbie e good make you start your investment journey with bitcoin because of your financial and mental health,any token wey deter your financial and mental health fit make you lose interest for crypto entirely so e good make you start right.

[Zorellian]

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.

But many people come into crypto to make profit or double their income that they have already, that why a lot of people that are into crypto now like 70% of them are not coming because they want to learn about it, they show up because they wanna increase their profits.

I didn’t not disagree that we should force on how to make profit instead we should know about how the crypto and avoid all the beginnings behaviors like going for the profit in the first time we come to crypto, later the profit will show himself up.

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.

I agree with you, you have to do your own research before making move to invest in any crypto currency you are about to work on, it will be altcoin or bitcoin you should do some research and understand how the coins work and how to make your profit in it. It advisable to start invest or trade in bitcoin than altcoin because altcoins are not a stable coin.

[Gerdino]

From my own point of view, I think beginners should learn Bitcoin first because it's easier to understand and less risky. There's nothing wrong with learning about altcoins later, but no one should invest in them without doing proper research first to avoid stories that touch because money is not easy to come by.

[MainIbem]

From my own point of view, I think beginners should learn Bitcoin first because it's easier to understand and less risky. There's nothing wrong with learning about altcoins later, but no one should invest in them without doing proper research first to avoid stories that touch because money is not easy to come by.

Altcoin are a trap and should be avoided, beginners barely understand the market so they should go for something with a proven history of rewarding investors not something that's under probability. Some people might think investing in Bitcoin alongside Altcoins is cool but no since they're not very reliable and could distract the investor from giving more discretionary funds to Bitcoin. Anyone that wants to invest in digital currency should give Bitcoin the first priority before considering to risk in others.

[Curious T]

People should stay away from altcoins when they just start into crypto, but how long they stay away from it is not fixed. There is no set time to stay away from altcoins. It is based on how long the person took to understand crypto and the market. If they have understood that it is not a place to get rich quick or quickly make trades that will give you millions, then they can do what they want.

I don't even completely believe that people should stay away from altcoins; the reason why I agree with it is that they will lose less if they stick with Bitcoin when they have not understood it. What I believe is that anybody who is going into anything should have a clear understanding of what they are going into. If the newbie has understood altcoins, then he is free.

[B-BossMan]

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.

Ever since I learned a lesson from all thses altcoins, I don't ever take then serious in my life at all, because they can rise today with a convincing methods and hyping then crashes tomorrow. Many people have regrets why they make an attempt in investing into altcoins, wasting thier time and energy, that's why I do believed with how Bitcoin works, everything is open and clearly understoodable, all these altcoins are most scam.

Bitcoin is more better than every altcoins to me, in terms of risk and everything the bitcoin's risks is worth taking, I will never advise any newbies to invest in altcoins, investing in Bitcoin gives you rest of mind than altcoins, even with the small amounts of money one can invest into bitcoin investment and holding it for a longer term potential growth.

[Obari]

But then do we think that this is enough for beginners to avoid altcoins altogether?? Or is there any value they stand to gain when they explore them alongside Bitcoin.

I agree with you that a lot of people go into the market blindly without doing their proper research and end up in losses that they in most cases panic sell but on the other hand, one of the major reasons why people are advised not to go into these altcoins especially the new ones is because most of these coins always end up as shit coins and in most cases they just act like the pump and dump coins and for a typical newbie coming into the market, it is never advisable to take any of such risk without having a practical knowledge  of the market and since bitcoin despite its volatility, has proven over time to alway bounce back bigger and strong after each dip, it is always advisable that even if as a newbie, who wants to invest while trying to acquire the necessary knowledge, it is best you invest in bitcoin for safety while you acquire the necessary knowledge.

[Cookdata]

The reason why beginners are advised to stay away from altcoins is because of projects in the altcoin circle. These are projects that are not reliable, and it is very difficult for beginners to find altcoins that are reliable.

Beginners don’t make decisions based on what they know or understand; instead, they make decisions based on assumptions or their own personal conclusions about how they see a coin. It is easy for beginners to make mistakes when going into altcoin investments; that is why it is better for them to stay away from it and learn to gain experience on how to approach a reliable project.

The influencers on X are to be blame for this things, an average person that joined crypto today because of what influence said. The worst of this is that the influencers I know that used to be core Bitcoiners are now full time making promotions for altcoins project, most like they sold their Bitcoin and have nothing to hold so they have moved to altcoins where teams promised to give them some percentage of coins from the supply, they are the caused of this messed in crypto.

You know what's terrible about altcoins, majority couldn't reach all time high since last 3 years, only few made all time high and if you check their YTD, they are down 80% or even more. These doesn't not represent a healthy investment but many of them will buy them. However, there are still smart newbies in the block that knows the difference between Bitcoin and wild animal projects called altcoins.