I discover that many people are now creating their own cryptocurrency. How profitable is this and are they legit?

[Josemendez]

Most of the cryptocurrency that is created by people are not really profitable and most of them are always pump and dump, you really need to careful with this type of cryptocurrency because they has higher possibility of experiencing rugpull.

Many of them have been rugpulled and people have lost money from it. This is why most people carry out research before investing in new projects .

 

[Setfragil]

You are right there are many people creating their own cryptocurrency recently but one need to be very careful in investing to just any cryptocurrency in order not to lose money as most of them are just pump and dump.

 

[Emmado]

Cryptocurrency are coming out everyday and this is what we all should know, but you should not invest in such cryptocurrency because you are going to lose your money and some of them is not reliable, 90% of them are scam.

 

[Sotherefore]

Many of them have been rugpulled and people have lost money from it. This is why most people carry out research before investing in new projects .

I do a lot of deep research before investing in any new projects and sometimes the maximum supply of a particular cryptocurrency is the most important factors to me, I don't want to regret anything

 

[Bookwormlux]

Less I know about crypocurrency only that I know little about Bitcoin. But this day, I heard of so many cryptocurrency which are all strange to me. Please, how profitable are they and do they all legit?

Most of them are scam pump and dump tokens that usually are aimed at taking profits for the big investors. It's best to avoid them.

 

[Good-Person]

Such kind of digital currencies or coins might not have any real value and their value might actually decline by the passage of time. One such example is that of Ontology token. It was created by a company called "Onchain" it but it's value is decreasing and investors are suffering.

 

[Josemendez]

I do a lot of deep research before investing in any new projects and sometimes the maximum supply of a particular cryptocurrency is the most important factors to me, I don't want to regret anything

Maximum Supply in my case is a good point of consideration as well as the circulating supply . Mostly , I check the use cases of such coins as this is what gives the coin value

 

[Sotherefore]

Maximum Supply in my case is a good point of consideration as well as the circulating supply . Mostly , I check the use cases of such coins as this is what gives the coin value

Use case of a particular cryptocurrency and the maximum supply about the cryptocurrency is the most important thing ,a cryptocurrency with the perfect and seriously use case with so much maximum supply is not even the best.

 

[Josemendez]

Use case of a particular cryptocurrency and the maximum supply about the cryptocurrency is the most important thing ,a cryptocurrency with the perfect and seriously use case with so much maximum supply is not even the best.

Based on what I have been able to see . There is no coin with good use cases that have high maximum supply. Their supply is normally moderate compared to other coins .

 

[Bookwormlux]

So many pump and dump coins these days and I think it is better to only stick to those coins that are already having potentials even in years to come.

 

[Shigobad2020]

Less I know about crypocurrency only that I know little about Bitcoin. But this day, I heard of so many cryptocurrency which are all strange to me. Please, how profitable are they and do they all legit?

Many people nowadays just want to start doing what they see people doing, creation of crypto currency is not the solution and the quick way to riches, we have over five thousand crypto currency coin in the market currently.

 

[Kunkun]

Indeed there have been lots of coins that came into existence after Bitcoin and they are all legit too, and to successfully create a coin would require lots to funds so that that

 

[Destinyfejiro]

Less I know about crypocurrency only that I know little about Bitcoin. But this day, I heard of so many cryptocurrency which are all strange to me. Please, how profitable are they and do they all legit?

Yeah seems it's easy if one has the right tools , there are various block chain you could easily use tron, bep and so on.....but not all are legit some are just made to rip people off there money ..at first they claim to have a project at the long run, it's a dead coin like wdoge

 

[Josemendez]

Yeah seems it's easy if one has the right tools , there are various block chain you could easily use tron, bep and so on.....but not all are legit some are just made to rip people off there money ..at first they claim to have a project at the long run, it's a dead coin like wdoge

Most of the cryptocurrency that have built their own cryptocurrency have stayed legit for long. It is only these new quadrillion coins that one needs to be careful with

 

[Destinyfejiro]

Most of the cryptocurrency that have built their own cryptocurrency have stayed legit for long. It is only these new quadrillion coins that one needs to be careful with

True but that also doesn't mean that a coin with a total billion supply can't be fake or scam......it goes both ways though a quadrillion coin too can also be legit 100% ... Just because it's circulating supply is high doesn't mean it's not legit

 

[Haveit]

I don't think many people are starting their own crypto currency, we have about ten of thousands coins when last I checked out of more than a billion people in the world.

 

[Josemendez]

True but that also doesn't mean that a coin with a total billion supply can't be fake or scam......it goes both ways though a quadrillion coin too can also be legit 100% ... Just because it's circulating supply is high doesn't mean it's not legit

I never meant that their supply means that they are not legit. The issue with such coins is that a lot of whales there can easily control the market leading to a fall in price .

 

[joy101]

That is good if people are creating their own cryptocurrency but I think is not really easy to create your own cryptocurrency, because a lot of new cryptocurrency are coming up.

 

[Destinyfejiro]

I never meant that their supply means that they are not legit. The issue with such coins is that a lot of whales there can easily control the market leading to a fall in price .

Alright sorry for misunderstanding you ..you're totally correct the whales could easily control the market while the little investors would just stare and look at fall in price

 

[Josemendez]

Alright sorry for misunderstanding you ..you're totally correct the whales could easily control the market while the little investors would just stare and look at fall in price

Is ok bro. We are here to learn from each other's opinion . I believe that you will also have things that I don't know which I will learn from you as time goes on.