If you are new to cryptocurrency or ICO, I say welcome. To become a winner in the game of ICO or cryptocurrency trading, things can be confusing considering the amount of coins been release every day in the cryptocurrency world.
There are lot of ICO’s that can “make you to the bank” while some are just pure fraud. In this article, I will be discussing steps I have taken (which I have learnt from top traders) to help me pick the right coin to invest into.
You can’t just pick any coin you feel or been told about; you have to do your own due diligence and discuss it with other crypto traders especially in discussion forums or groups.
In no particular order, below are what you can do to help you decide how to invest in coin trading?
1. The Project: You want to know what the project is about?, What problem(s) will the project solve?, Does the project have any competitor(s)?.
You goal is to have a satisfactory answers before you take any step further.
Download and Read The Whitepaper: This is the most important step to take. Don’t just skim through, remember you are about to invest your hard earn money in a company and expect returns.
Read Again: Read the whitepaper for the second time but this time out of curiosity.
YouTube Videos: Every company running an ICO should have a YouTube Channel; watch and learn more about the goals and aims of the company and their project.
Visit Social Hangout: Read more about the project on all promotional buzz hangout, such places like Steemit, Reddit, Medium etc.
Profiling: You want to know who are behind the projects. The team should be present on social platform like LinkedIn, Facebook, and Twitter etc. check out their profile on LinkedIn to see how active they are and what other project they have accomplished.
Other Group Gathering: Read and listen to what others are saying about the project in groups or forums like Telegram and BitCoinTalk etc.
Check For Competitors: If there are any competitors, compare and contrast to learn more from other coin(s).
Check For Updates: Visit the project social platform to see how frequent they post updates. You want to be sure that they are active and keeping investors up-to-date about their project.
Look at their Telegram to see if there are lot of people in there – this will tell how popular the project is and how much awareness have created for the project – and read previous chat to know if there are any complains.
If you follow these key short steps, you will surely get amazing result in your search of how to know which coin to invest. Hope you find this content helpful, if you do please do let me know in the comment section.
If there is anything, you want me to write about, let me know. Cheers