Today's discussion is for those who are new to cryptocurrency in general. Because those who first invest in cryptocurrency have a little problem with which coins to buy or which cryptocurrency to invest in. That is, you make the mistake of choosing the right cryptocurrency. Again, many people buy all the cryptocurrencies that go wrong, which later becomes the reason for the decline.It is very important to know how to choose crypto coins to invest in cryptocurrency. There are some coins that will be willing to buy after seeing the initial or two one-time performances. But later on, the money of those investments will not seem to be anything other than throwing it in the water.
So there are several things to keep in mind when choosing a cryptocurrency. Don't be in a hurry, your little ingenuity will help you choose the best quality crypto.
Things to consider when choosing a cryptocurrency
If you do ICO or IEO, that is different. For this you can see the topic of ICO or IEO. Here I will discuss the cryptocurrency selection issues that are already being traded on various exchange sites.
Here are some things to look for when selecting a cryptocurrency: -
Concept
Stability
Their progress according to the roadmap
Circulating supply and total supply by price (optional)
Popularity
- Concept
Before choosing any cryptocurrency or cryptocurrency, it is important that you look at the core concept of the project. You will see thousands of crypto coins whose price will attract you. But because their concept is bad, all these coins can't last very long. Examples: Hundreds of such coins can be given with Voice, Red Pulse, Verge.
- Stability
This is a very simple matter before investing in any crypto coin. You invested in a coin that did well once or twice in its entire life. But then there is a good chance that your invested money will be wasted. You need to check the stability or weight of the coin before choosing it. So that even if the price fails for some reason, there is a strong possibility that it will rise again.
- Their progress according to the roadmap
Each cryptocurrency has a roadmap or white paper. Where they will try to meet their target, how, in what way or in what time frame their project. You will see all the scam projects that have a concept in their roadmap that does not match their work. That is a road map showing people.
Again, you will not get the road map of some projects. If you ask them, they may say that we have a road map but do not publish it. The argument will show many reasons. Close your eyes and move away from such projects. However, stay away from any project without a target.
- Circulating supply and total supply by price (optional)
Some projects jump up and fall again by jumping the price according to their popularity or merit. He jumped up and fell again. In that case, be careful to choose such a project. Because those projects are pumped by different groups. Yes there are several groups to pump the price.
However, you will see many projects whose circulating supply with price casts a lot of doubt. However, in the case of a good project, the issue goes to the optional level.
- Popularity
If it is a good project, its popularity can easily attract you. And to be attracted is to be. Because the concept of heavyweight projects and their skills are enough for him.
Many people here may think that in order to choose a good project, it is necessary to know who is behind that project. I also agree with that thought. However, since I am talking about the selection of projects that have been traded on various exchanges for a long time.
If I were to discuss ICO or IEO here, I would put the point of who is behind the project first.
However, before you pick any project you want, you can take a look at the teams of that project. This will allow you to make better decisions about any of your cryptocurrencies.
