People are now creating their own cryptocurrency, how profitable is this and are they legit?

[Kingsley]

Crypto currencies are truly the new best thing to hit the world today. After since it came on board with the introduction of bitcoin everyone has been opened to the enormous opportunities that are embedded in the system, to some extent those people investing in the regulated forex market saw the crypto market as a safe landing and solid soil where they might not need to sink in the mud of forex trading. And Many were able to recover their losses from forex on crypto.

But what never seizes to amaze me is the influx of somany types of coin and tokens that has flooded the crypto market, there is hardly and week that we don't get to see new coin. It raises the concern if these coin are profitable or legit, or are they out there to scam people of their hard earn money.

Please what is your take on this?

 

[Lens1000]

Hmmm..it's true that there so many unpopular coin in the market but that doesn't mean that they are not legit. once it's accepted in the crypto market, it's legit and a particular value is attached
Having said that, so many coins are yet to be accepted and use for trading. Example of such is Pi network coin. It's still awaiting approval so are the other coins too.
So, there is no way you could be scammed by a coin not listed amongst the coins on the trade platforms