The Altcoin Industry Will Grow As Savvy Business People Enter

The Altcoin Industry Will Grow As Savvy Business People Enter
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The Altcoin Industry Is Poised For Growth

The ‘altcoin industry‘ is still relatively new. As with all new industries, growing pains are to be expected. With altcoins things are just a bit worse, though. Many market participants expect to be at least relatively anonymous in their dealings with cryptocoins. This complicates matters significantly since you’re never quite sure who you’re dealing with. Even potentially more damaging is there are currently no standards or policies that enforce guidelines or rules for cryptcoins as a whole.

You never know what to expect as an altcoin miner, speculator, or enthusiast. Even worse, many of the people you end up dealing with completely lack professionalism. If you’re serious about making money in altcoins you have to take these deficiencies into account. This is not a standard business where you have a reasonable expectation of a certain level of service.

Even most altcoin projects are run by seemingly laughably inept people. In order for a project to reach global mass, it requires communication and organization skills that are top-notch. Many of the coin ‘Devs‘ operate on an emotionally-charged basis. They tend to communicate with others in a flippant manner and some of them are big fans of censorship. Contrast this to companies that publicly traded and the differences are glaring and obvious. The same goes for service providers. Altcoin exchanges have no listed policies yet are responsible for holding and transferring funds!

Imagine a modern equivalent of that elsewhere in business? Everywhere along the way in altcoins you’re forced to suspend disbelief and ‘hope for the best‘ because there are simply no guarantees at all.

Of course this is true of the establishment financial sector as well. Despite maintaining a system that should offer some protections, millions of people lose money in the traditional stock, futures, and foreign exchange markets every day. However, since you’re generally purchasing a security that has some underlying agreed-upon valuation methods you can hold in the belief that the asset will appreciate in the future. That’s a bit tougher to do with an altcoin, no matter how much you like the team or the project.

Fresh Investment Capital Will Bring Compliance To The Altcoin Industry

In the next year or so it seems likely this current trend will change. When an industry begins to develop, LOTS of people are watching. Investment capital tends to flow in. With this investment comes compliance requirements. Large investors insist on safeguards for their capital. When they begin launching startups at a break-neck speed you can expect that the altcoin industry will professionalize rapidly. The standard ‘back room‘ way of doing business which is prevalent now will become a relic from the past.

This new era will likely ruin some of the essence of altcoins where they are right now. The compliance will help gain a larger audience. The tradeoff will come in the form of a much larger potential audience. As compliance increases the number of people willing to invest will grow exponentially. We’ve seen the same thing in many other fast-growing industries and sectors and it’s likely we’ll see the same with alternative cryptocurrencies.

For now it pays to realize what you’re dealing with and to take appropriate action. You can’t rely on any safety net - imagined or otherwise - to save you from a bad move. It’s up to you to ensure that you’re prepared if things go desperately wrong. There are also numerous opportunities out there for those with strong stomachs! Alts can return huge profits for those who can handle the risk. Research, but don’t be afraid to get your returns.

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