It’s disappointing to know that a large number of Chinese altcoins have failed despite having a highly digitized platform and technologically developed setup. China has produced some of the leading technologies and digital brands but when it comes to altcoins, it fails miserably in global economy. The question is, why?
Crypto market is so addictive that checking on your profile becomes an every hour job. Refresh the page and there you have 500 bucks. But if you have invested in some Chinese ICOs or altcoins, chances of your coins doing negative business gets higher. A complete collapse in the bear market has been frequently seen and Chinese Altcoins contribute to this. It’s not that only Chinese projects involving altcoins have failed but they happen to be the most consistent and notable failures.
Every investor makes an investment knowing that it might turn into a complete loss. NEO has been fed a lot of criticisms lately. But it’s not completely NEO’s fault that the investors don’t see the loopholes. Doesn’t it ring the bells when you come to know that the only NEO which is yet to fail is Zeepin. However, it’s too early to declare it a success, since it’s just a month old.
The problems of these altcoins failing is not solely limited to China. Many such initiatives have seen the bad days initially but how come almost all Chinese projects are failing?
The language barrier plays a vital role in this. It is a lot harder to perform the analysis of projects in China than in U. S or Europe. The irresponsible claims which never seem to work stands as another major reason why investors don’t seem to trust these altcoins. Plagiarism and problems pertaining to counterfeiting are the other major reasons behind it’s failure. Faking a huge team capacity and plagiarizing the white papers seems China’s cup of tea as it leads in this race.
Do not keep high hopes.
Investing in Crypto is not an easy game. It might turn you a millionaire or take away all your assets. Even though some Chinese blockchains are doing really well in the market, it doesn’t really change the statistics that if you invest in a Chinese token, your risks of losing the money is more than average.