There are many things you need to consider before investing in cryptocurrency to avoid the risks.

Prices of cryptocurrency fluctuate very quickly, so invest mindfully. You could lose money if someone hacks the wallets where you store your bitcoins. The world of cryptocurrency is still evolving, creating uncertainty, and changes in regulations could potentially impact the market. Unlike other traditional investments, the government does not provide consumer protection for cryptocurrencies. Crypto transactions are irreversible, meaning once money is sent, you can't get it back.

All the coins available in the market other than Bitcoin are altcoins. Altcoins are too many types, like:

Stablecoins are coins with stable values. like USD coins and DAI.

MemeCoin began as a joke but gained popularity over time. like Dogecoin

Privacy Coin, similar to Zcash, protects user privacy by concealing transaction details.

Platform coins are used to build and run decentralized apps such as Ethereum and Solana.

Layer 2 tokens, Asset-backed Tokens, Fork Coins, Governamce Tokens , Security Token, these are also altcoins available in the market.