Post
Topic
Board Beginners & Help
Re: Be careful of shitcoins
by
hatshepsut93
on 21/06/2020, 13:46:28 UTC
I will advice people to analyse market and the coin that want to be used to trade or invest before buying such coin because some coins are just existing to take away your money before it becomes fully dumped.

This sounds good in theory, but on practice beginners and even more experienced traders don't have the skills needed to perform a good market analysis. Most people simply read some articles, that very easily can be paid shilling, Looking at charts isn't very useful either, simply buying at the bottom isn't a guarantee for profit. Checking fundamentals is hard for beginners too, because they don't have a deep knowledge of technology, so they are easily misled by buzzwords.

It's better to simply ignore altcoins, investing in Bitcoin is already highly profitable, why take big and unnecessary risks?