Quote from: Dr.Osh on February 20, 2024, 10:48:37 PM

Quote from: Phenom Lizzy on February 19, 2024, 03:26:36 PM

Altcoins can be profitable, but they come with higher risk compared to established cryptocurrencies. Research thoroughly before investing. This is not a financial advice.

all investments are risky. However, what differentiates it is the level of risk. The bigger the profit you can get, the higher the risk.
Until now, Altcoins still exist, and new ones continue to emerge. However, on the other hand, very many altcoins have gone bankrupt to date. The important thing is, altcoins are still providing very good profits to investors, but with the caveat that they are good altcoins. There are a lot of bad altcoins out there, and if you do your analysis wrong, you could end up losing money. In fact, until now meme coin is still quite popular in discussion because it has a high profit drive, but comes with big risks.

Almost all especially the newly created one are bad altcoins and we can't easily figure out that they are off for us since sometimes it take a lot of time for them to show their true colors. Some of altcoin pretend so well at start and giving a lot of profit to their investors also hype that's why they get a lot of volume since people trust them for their early performance then a rug pulled scheme will happen and lots of them got caught that's why we should be always active to monitor the latest happening on the altcoin we are following since its really hard if we get scam by those scammers pretending to offer a revolutionary platform or ideas to us.

Although altcoin is good investment but we need to be careful on this as there's lots of scams happening so if we think about to invest on altcoins much really better if we do a lot of research on the tokens or coins we are trying to accumulate.