Now, to say that there are far too many on the market, currently there are over 2100 different. Everyone promises, of course, to have a benefit, to be the best or to become the best and to be able to solve all the problems. If not then the developers are on the verge of bla bla bla.
But to stay in reality now and as hard as it sounds are from the more than 2100 different coins or tokens, most are just scrap. They were created to jump on the train to take advantage of all the hype. Most of them have never really had the goal of bringing a working product to market, but faking a product in order to take your money off you! Yes, unfortunately, that’s the way it is, there are a lot of rip-offs out there and they know exactly how the market works. Therefore, be careful in what you put your hard-earned money!
Unfortunately, it is impossible to predict which altcoins will prevail in the long term. But you can see the scrap coins themselves who you stick to these simple points.
By taking a closer look at the white paper. For example, is it just a cheap copy of others with a little change then the coin or token is scrap!
Is the use case really given or is it just a utility coin. scrap!
How much competition is there for the individual coin or that tokens (Much competition is all the worse)
What kind of development team is behind this? Any cardboard noses from which no one has ever heard of or successful developers?
Will the roadmap be adhered to and carefully processed?
How long has the coin or token been around? All the longer!
With these simple points, you can now distinguish the bad ones from those that might be useful. Of course, you shouldn’t confuse that with trading Cryptocurrencies now, because you can really trade any scrap.
Now if you are after Own Research has found a usable coin but don’t invest anything but only a small part of your entire investment. Of course, you put the big part in the Bitcoin which, to this day, defies 50 times dead, is the undefeated number 1!