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

[Justin]

There are over 8K different cryptocurrencies. I think more than 50 percent of these cryptocurrencies will die in 3-4 years. I think the private crypto currencies are not going to survive for a long time. A lot of cryptos currencies have also scammed people.

 

[Monster Masterpiece]

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 people are creating cryptocurrency on their name because in airdrop they want that their airdrop pays in their own cryptocurrency add to ICO sales so more revenue to airdrop but it can sounds good or it can fail as project.

 

[Sincerem]

There are over 8K different cryptocurrencies. I think more than 50 percent of these cryptocurrencies will die in 3-4 years. I think the private crypto currencies are not going to survive for a long time. A lot of cryptos currencies have also scammed people.

You spoke well. 50 percent of existing 8k+ Cryptocurrencies won't be able to survive past 4 years based on the availability of funds to continue pushing it. Not all coins have the popularity like BTC, ETH, DOT, LTC have. Some are finding it difficult to attract that recognition. As such they are using their own pocket money to promote the coin the best they could.

 

[Ralphjoe]

It's not that everyone is creating cryptocurrency because creating cryptocurrency coin is very expensive to do and so therefore with mostly companies that go into such kind of project. The only thing is that the cryptocurrency project is now saturated

 

[Victor001]

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?

They come mostly in form of airdrops, they see this as a way of building their social platforms and an avenue to promote affiliates. Most of this coins end up been fake,at the end they still have your data.

 

[Niftyyem]

Many Cryptos out there are very poor projects that are out to scam. It is very important that any coin that piques your interest is well researched and not some dead or shitcoin.

 

[Ayokex]

This is one the deficits of the cryptocurrency as there is no regulation or any coordinated policy to put things in order. Different kinds of irrelevant coins have now filled the internet as many of them luring people to register with them.

 

[Cash%]

Be very careful. There are so many scam and legit coins , i think all you need to choose is to pick the best crypto currency among all

 

[Sotherefore]

All cryptocurrency are not good, you need to do alot of deep research before you think of investment in cheap cryptocurrency

 

[Victor72]

It is true many people are creating their own cryptocurrency, well I don't really know if it's legit or not, but I prefer investing on a popular cryptocurrency.

 

[Kelly5]

People just get up and go to create coin for the sake of creating it. The majority of such type coins are locally termed shit coins. They will never get value

 

[Sotherefore]

If they create a particular cryptocurrency and the cryptocurrency they are producing has a good project to offer, they will make so much money from it

 

[Chibson]

Of course it is legal and legit for anyone to create his or her own cryptocurrency. What makes cryptocurrency profitable or creating of cryptocurrency profitable is that when your crypto currency adopted by many people the price will definitely go up and you will make a whole lot of gain.

 

[Jumoke12]

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?

This is not something new and anyone who is wise should he careful. most of these so-called coins will not he listed on any good exchange site at all.

 

[Damscooguns73]

Concerning discovering that many people are now creating their crypto currency. Well, there is no lie about that, I think we should even expect more to come because they uses the ethereum and eos block chain to create a coin for themsleves. The number of crypto currency coin are now countless but we have the very profitable potenetials coin we have our eyes fixed on

 

[Justin]

I think this is profitable business, however, before you actually begin to make profits, you will have to invest a lot of money into it. You will have to work really hard

 

[Hopey]

This really is not an encouraging development because there is a tendency that it can make people lose interest in crypto currency

 

[Setfragil]

I noticed this development also in cryptocurrencies which makes me to wonder it crypto has turn to snacks that can be made by every tom and jerry. One should carefully invest in cryptocurrencies with good project to avoid painful loss of funds.

 

[Kelly5]

I think you know the answer to that. Creating cryprocurrency does not mean it is a profitable thing to creat one. It is not always the case. That is why we have what we call shit coins

 

[nimzy]

from my point of view most are legit and profitable but its quite important to have a better understanding of how it operates before investing so as to less risk.