Is it a good idea to buy altcoins under 1 dollar?

Exscudo

Member
60 14
What do you think about investing in altcoins that cost less than one USD? Especially the new ones. How do you make a decision of they have what it takes to grow?
 

J_C_Anderson

Active member
128 22
The approach to the investing in altcoins should be close tot the investments in penny stocks. Actually, the principles would be almost the same. In such cases, fundamental analysis would be much more important than technical analysis. There are several main steps:
1.First of all you should analyze the idea and define its strenth and weakness. It is important to understand the role the blockchain technology itself plays in the solution the company offers. It would be better to avoid projects using word "blockchain" just to draw additional attention to thier tokens.If the idea is realy interesting and useful, and it solves the problem that exists in reality, you can move to the next step.
2. Find everything you can about the company and team. Who they are? Pay attention to their experience in related spheres. It is also necessary to check the registration of the company. If they are going to launch offering in US, they should register it with SEC under the Reg A, for example. If there is no any information about the registration, or about the company itself, it is very likely to be a scam.
3. If the altcoins are already listed, pay attention to the trading volume. If it is too low, it could be difficult to get or cover relatively large position without impacting the price.
 
Last edited:

postman

Legendary member
22,142 2,376
What do you think about investing in altcoins that cost less than one USD? Especially the new ones. How do you make a decision of they have what it takes to grow?
If someone said they were planning to start a business to compete against Amazon would you invest? If not then why invest in a company that wants to compete with Bitcoin.
If you like cryptocurrencies invest in Bitcoin.
 

postman

Legendary member
22,142 2,376
Altcoins Annihilated as Crypto Winter Threatens to Return

This week in crypto has been a miserable one for altcoins with a number of them dumping double digits. Bitcoin has largely held on to its gains but the same cannot be said for its siblings which are in danger of freezing over once again.

 

landorra

Junior member
28 2
If someone said they were planning to start a business to compete against Amazon would you invest? If not then why invest in a company that wants to compete with Bitcoin.
If you like cryptocurrencies invest in Bitcoin.
Exactly. I would not say it in any other way. This overcrowded zoo of cryptos is going to be monopolized by bircoin soon.
 

Exscudo

Member
60 14
If someone said they were planning to start a business to compete against Amazon would you invest? If not then why invest in a company that wants to compete with Bitcoin.
If you like cryptocurrencies invest in Bitcoin.
Bitcoin has a lot of shortcomings, to be honest. I don't see it getting global adoption anytime soon if ever.
 

Exscudo

Member
60 14
The approach to the investing in altcoins should be close tot the investments in penny stocks. Actually, the principles would be almost the same. In such cases, fundamental analysis would be much more important than technical analysis. There are several main steps:
1.Firest of all you should analyze the idea and define its strenth and weakness. It is important to understand the role the blockchain technology itself plays in the solution the company offers. It would be better to avoid projects using word "blockchain" just to draw additional attention to thier tokens.If the idea is realy interesting and useful, and it solves the problem that exists in reality, you can move to the next step.
2. Find everything you can about the company and team. Who they are? Pay attention to their experience in related spheres. It is also necessary to check the registration of the company. If they are going to launch offering in US, they should register it with SEC under the Reg A, for example. If there is no any information about the registration, or about the company itself, it is very likely to be a scam.
3. If the altcoins are already listed, pay attention to the trading volume. If it is too low, it could be difficult to get or cover relatively large position without impacting the price.
Thank you very much, this is very in-depth!
I really like your approach to the matter. For sure it is hard to predict price movements but if a certain asset helps solve a real problem there is at least a chance that it will be used a lot and grow. And all of this depends on the use case, the team and their technology.
 

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