Crypto is a perfect engine for scammers because it's still unregulated and it's also the wild west when it comes to making money quick with less efforts. .
Apart from rugpulls and influencers scam that are very famous with altcoin investment there is one particular side I want you to be much aware of.
Many altcoins you are seeing right now are build on "Make the project, promise the entire world rare utilities and never really deliver anything, they will keep using words and investors will keep hoping.
They deliver small updates only to push the price higher.
They spent hours live streaming almost everyday.
They trust hype more than anything and a finished product will ruin it.
Keep a track of your altcoins regularly and once you see the slackness in the team it's safer to switch.
Well, if we talk about being careful with altcoins, then this should probably also be attributed to Bitcoin, since the main cryptocurrency also often has a large price volatility. However, if we talk about value, then BTC is definitely the leader here, although some of the altcoins still manage to bring good profits to their holders, well, if you know when to sell and when to buy. As for the release of new altkins, yes, there is a very bad trend when altcoins are created simply to raise funds, which of course negatively affects the development of the crypto market and the attitude of the community towards it. As a result, we all have to be more careful when choosing altcoins for investment, especially when it comes to new crypto assets. I really want to believe that the situation in the crypto market will change for the better and successful altcoins will also appear on the market.