Quote from: SamReomo on January 23, 2025, 08:42:37 PM

Quote from: Oshosondy on January 01, 2025, 02:48:18 PM

4. Be careful of altcoins. Although I trade altcoins but I use very lower amount of money for it. They are very dangerous.

I would say that it's okay to trade alt coins but it's not okay to trade new alt coins. Most new alt coins lose so much of their value in days and the ones who invest in those alt coins might end up losing their capital, but the reputed alt coins can be safe for trading. I personally trade Bitcoin and some alt coins and so far I have made profits with both Bitcoin as well as alt coins. However, the profit that comes from alt coins is higher than that of Bitcoin in my case.

Altcoins that have been on the market for a long time and have a reputation, capitalization and other options are more predictable and easier to trade than those, for example, that are created on a conveyor belt on Solana. Meme tokens are a new trend and it works on the principle of pump and dump, which is more like a lottery than trading and the mistake of beginners is that they take such tokens too seriously and think that they are subject to logic, but in the case of such tokens, almost everything depends on the developer and when he decides to sell his share of tokens and collapse the market.