We’ve all heard of altcoins, or other kinds of “alt” currencies, and some of us have even bought some of them, while others have not. So, why buy Altcoins when they have been known to have some pretty ugly characteristics themselves?
Well, the answer is that it really depends on what the altcoin is, and its potential for success in the long term. Many investors just like to bet with “high risk” assets, but not so much with the short term, “buy and hold” assets. With this, altcoins have a very appealing appeal to investors.
So, if you’re looking for a “long term” investment, then a good place to start is to invest in altcoins, which may outperform the current price. It’s not a guarantee though, because these coins may never be able to take off in the long run, and many of them don’t really do anything that is unique. On the other hand, the “newcomers” are getting in before any competition has really gotten started.
In fact, there are some coins that are actually being touted as being “next big things” on the altcoin market, and may even outperform the currency in the long term. For example, there is the Feathercoin, and there are many other new currencies that are only available in “altcoin” form.
Of course, if you want to get a feel for what’s going on in the altcoin market, then you can always check out the Coin Market Screener. This is free to use, and will show you everything you need to know about each type of coin. From historical data on how each coin’s price has changed over the years, to its technical indicators. You can even check out the current price and volume of each coin at any time.
The great thing about the altcoin market is that you can use whatever indicator you want and make it your own. This is unlike other types of trading, which require you to follow the crowd, and rely on what others think is important.
As you can see, the altcoin market is a great way to profit from an asset which has a very high amount of volatility, and the ability to make a lot of money. Just remember, though, that the best time to invest in an altcoin is when you’re relatively new to the market, or you’ve made a ton of money already by buying into a popular one.
If you’re looking for a long term, and safe investment, then you might want to start off with a coin such as Feathercoin or the next currency you hear about, as they’re relatively safe, and have a very low amount of volatility. However, if you’ve made a ton of money already, then it might be better to invest in one of the more popular coins which have more liquidity. Like for example, a good example would be Dogecoin.
Remember, the altcoin market isn’t going anywhere anytime soon. Keep in mind, it is a high volatility market, but that doesn’t mean it’s not lucrative, you just have to know when to enter and when to exit.