You picked the wrong coins. Here are simple rules of what type of coins you should never buy 🧵👇

ayushh (27)in #steemitnews • 4 months ago

Imagine investing $10,000 in crypto in 2017.

While others became millionaires, you're still at $10,000 or less.

You picked the wrong coins.

Here are simple rules of what type of coins you should never buy 🧵👇

With countless altcoins available, it's crucial to identify which ones have no future. Recognizing these projects can help you save your money and distinguish junk from gems.

Here are the types of altcoins you should avoid 👇

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How to recognize problematic coins:

• Frequent token unlocks can lead to constant sell pressure
• Look for genuine demand rather than hype
• Ensure the project's narrative aligns with current trends
• A high FDV compared to MC often indicates overvaluation

Old and overvalued forks

• These projects are outdated versions of more successful coins, often with minimal development and prospects

For example:
An Ethereum fork with little development and limited future potential.

A Bitcoin fork aimed at increasing block size, but lacking significant innovation

Anonymous coins

• Known for their privacy features, these coins face regulatory scrutiny and adoption issues, making them risky investments

Useless L2 solutions

• These Layer-2 solutions often have high fully diluted valuations (FDV) and constant sell pressure with limited utility, making them poor investments
Old coins with no future

• These are legacy coins that have lost their technological edge and are overshadowed by more innovative projects

Before investing, always analyze these factors to determine if a project has any upside potential.

Thank you for your attention!

#steemit #cryptothread #altcoins #thisweeknews