According to the site coinmarketcap there over 1500 coins and tokens ! So how to choose the currency in which to invest ?
Through this post I will try to share with you some tips to choose these crypto.
Overall, and before investing, I advise you to go to the website coinmarketcap, which allows you to have a quick analysis of currencies and some information on it, personally to choose what should i invest in, i search, i read more about the project behind the crypto, on the same system that is used for a startup ! That is to say that the most important things! First I'm going on a crypto currency is that I'll read the white paper, because the white paper will introduce myself a little bit all the features of currency that can do, a little business plan, and on top of that I'll get all the news then !
- What is now ?
- Is there a large company that wanted to make a partnership ?
- Is there something that will come out?
Then of course you have to cross the information with the current course of cryptocurrency, to learn stage already a feed and so if you arrive too early or too late ! Then at the news you can find on a lot of things in Google News, you can watch on YouTube, the forums !!
One thing I advise you, is always to try to re-cross the informations and to make calls to your common sense, necessarily it is defective because could bring very big to some people as for example the creators of a currency or those who have already invested big in, they have every interest in spreading a lot of content on these crypto so that they can cash out their money.
The second advice I give, is to analyze the team, frankly it's something very important, since it is the team that will just do everything. Already, and if they have a good network ? Using capacities ? All these things have influenced me greatly over all my investment of the cryptocurrency, either at the beginning or in the years and months to come. For example Vitalik who created Ethereum; he was already well known in the bitcoin community, so obviously he was supported and he has the “social proof” !!
So look a little the team members. Look what they did before !? And above all it is in what you're going to invest ! Also because if their technology stuck !! You'll find yourself with a cryptocurrency that completely falling !! And you can lose a lot, by the way, is why I always advise to invest in the cryptocurrency only what you are willing to lose.
The third tip, and that everybody do not necessarily think it's time to market, it means is that you are at the right time in the market ? and that's one of the most important factors for the placement of a trade, but it's not something we see, since in fact the technology change very fast. We do not really know if :
- it's going to develop in three or five years ?
- it will be very complicated for the team !?
it will be very difficult for you too, if you're invested large sums !! But it can also be very big returns ! So you have to see :
- if it can be applied quickly enough and exclusive ?
- Is it going to be a fad ?
To see if you want to invest in the short term, medium term or long term?
So suddenly it's just you know what is on the balance !? it's like that, because on one side i have a good team, on the other side i have a good progression.
The last tip, thank you to spend more time on researching, developing your knowledge on the subject in which you are considering investing, because unfortunately 90% of the people i know, spend their time in front of their computers following the market price! !! reading and research, will allow you to invest better and minimize risks, as seen even when there are large corrections in the market, we see that this is a general increase in the level of crypto change ! So there are more chances of winning than losing.
below a screenshot on percentage of Total Market Capitalization (Dominance)
source : coinmarketcap
Think big ! feel different !
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.