Topic: Before buying an altcoin (Read 1751 times)
Check ANN on bt.. Check the chart history to see if it wasnt pumped big time. Check some articles to see what coins are good. Maye investing in top 10 or to 20 coin is better if you dont know much... if you are total noob then btc,eth and few others.
How and where to check and what to check first before buying a coin?
This is a question that keeps re-occuring to everyone who is about venturing into altcoin trading and its a very important decision to take or else one might be discouraged by taking the wrong step first and lose some amount of money thereby say bye-bye to crypto trading. For me, as someone who is trying to venture as well, I look out for comments mostly on forums and groups that I have been part of, or reading comments on threads which is just the best source of information.
I will research about the business model, founders and future plans.
Read up the white paper and the ANN usually give me clear ideas. Community is another point I will consider.
Lastly I will read the graph and not buying when the coin is being pumped at the moment.
Read up the white paper and the ANN usually give me clear ideas. Community is another point I will consider.
Lastly I will read the graph and not buying when the coin is being pumped at the moment.
How and where to check and what to check first before buying a coin?
The most important to check before buying altcoin is checking its developers, bakcground, total circulatiing suplly, and lastly its price stability. You can check it through the exchanger and that coin's website.
Before buying of altcoins, I just conduct back ground checking on the past history of the altcoins. Also I compared their past transaction in to present to review the ability of the altcoins before buying as investment in the future.
1. Less than 25 million coins in supply = +1
2. Market Cap > 5 Million = +1
3. New features added in the last 6 months = +1
4. Trade history going back past June of 2014 = +1
5. Listed on 4 or more exchanges = +1
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Good points right there! I used to buy those low value coins that had many ups and downs, hoping they would multiply themselves.. but in the end it dropped to nothing, so now I rarely touch on altcoins with low volume or price. However I do invest in relatively new coins like as these are promising, so I don't mind their age, as long as the features are good, market for it is increasing. 2. Market Cap > 5 Million = +1
3. New features added in the last 6 months = +1
4. Trade history going back past June of 2014 = +1
5. Listed on 4 or more exchanges = +1
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Many good responses here . . I'll add a few of my own. Some of these were already touched upon:
I tend to use a typical scoring system when measuring if I should enter into a trade with a certain alt coin.
I've been using this method:
1. Less than 25 million coins in supply = +1
2. Market Cap > 5 Million = +1
3. New features added in the last 6 months = +1
4. Trade history going back past June of 2014 = +1
5. Listed on 4 or more exchanges = +1
6. Listed on only 1 exchange = -1
7. No devs talking or Github last change was > 6 months ago = -1
8. Greater than 1 billion coins = -1
9. Google of scam and the coin shows lots of results = -1
10. Coin with trade history of 1 year or more, and is at a new all time low = -1
Coins with a market cap of 100k to 500k must have a score greater than 0 even if it is a scam coin to be considered a buy. They have to have rose significantly with the crypto market as well since June 2015, if not - - bench the coin for a year and come back and look at it.
Buying a falling market can be pretty damn tricky, so waiting is best. Wait for a break of the trend and set alerts to remind you. Buying small amount is cool if the coin scored 3 or more but it is best to wait for a flat or rising market to start buying.
Just some ideas . .
I tend to use a typical scoring system when measuring if I should enter into a trade with a certain alt coin.
I've been using this method:
1. Less than 25 million coins in supply = +1
2. Market Cap > 5 Million = +1
3. New features added in the last 6 months = +1
4. Trade history going back past June of 2014 = +1
5. Listed on 4 or more exchanges = +1
6. Listed on only 1 exchange = -1
7. No devs talking or Github last change was > 6 months ago = -1
8. Greater than 1 billion coins = -1
9. Google of scam and the coin shows lots of results = -1
10. Coin with trade history of 1 year or more, and is at a new all time low = -1
Coins with a market cap of 100k to 500k must have a score greater than 0 even if it is a scam coin to be considered a buy. They have to have rose significantly with the crypto market as well since June 2015, if not - - bench the coin for a year and come back and look at it.
Buying a falling market can be pretty damn tricky, so waiting is best. Wait for a break of the trend and set alerts to remind you. Buying small amount is cool if the coin scored 3 or more but it is best to wait for a flat or rising market to start buying.
Just some ideas . .
Check your pulse and check your reflection in the mirror for signs of insanity. Then go outdoors and get some air and ponder what it is you are about to do.
If you have mad money to blow, go for it. But these altcoins are highly unpredictable and extremely volatile. Most of them you could ride all the way down to 1 satoshi, easily. It's gambling.
Don't listen to the meatheads on this forum. They will give you bad advice 9.9 times out of 10, and most of them just want to unload whatever piece of shit they're holding, so don't listen to them.
lol ,your views are funnyIf you have mad money to blow, go for it. But these altcoins are highly unpredictable and extremely volatile. Most of them you could ride all the way down to 1 satoshi, easily. It's gambling.
Don't listen to the meatheads on this forum. They will give you bad advice 9.9 times out of 10, and most of them just want to unload whatever piece of shit they're holding, so don't listen to them.
sure ,all your money you do decision
check for ticks and leave your emotions behind
check the name of the dev before buyin an altcoin, many dev are big scammer, always check the scamm board.
The team is arguably the most important.
They can promise the world but it really comes down to trust in others that the good ideas will be realized and delivered to the community.
They can promise the world but it really comes down to trust in others that the good ideas will be realized and delivered to the community.
Normally what I do is if I find any promising coins, I would keep an eye out for them, and I place a listing usually much lower than the current price, meaning if the price suddenly goes down, the coins would be mine! 
As for the other coins which I see spikes in, even if they are rapidly increasing, I would not dare to buy them as I had times where I ended up buying at its peak.
Go for coins you trust! (and like at first sight)
As for the other coins which I see spikes in, even if they are rapidly increasing, I would not dare to buy them as I had times where I ended up buying at its peak.
Go for coins you trust! (and like at first sight) 
Visit the Ann check if the coin still alive and more updates coming from developer check if the coin have a community to help the price increase and the volume of course.
If you don't know, the last thing you should do is trust anyone, specially here, about advices of what cryptos buy or not.
To buy an alt coin it need so many research, you need to know what is the purpose of the coin being created, search for the coin developer background, and see what is their next aim or next project, see the enthusiastic from investor from forums, if you feel satisfied then you can invest in that coin, do your research before invest don't just follow what people said
just spend some time and look at the charts! they can tell you more than any internet research, reading all the altcoin crappy announcements, paper ,... can tell you.
if you can't then learn it. it is an important part of trading.
all the things others said are true but in my opinion they are all in secondary importance to analyzing the charts.
look how they have been performing before, look if it is in a bubble, if the volume is showing any signs, if the orderbook is giving you any signs. look if you can see any whale getting ready to dump, ...
if you can't then learn it. it is an important part of trading.
all the things others said are true but in my opinion they are all in secondary importance to analyzing the charts.
look how they have been performing before, look if it is in a bubble, if the volume is showing any signs, if the orderbook is giving you any signs. look if you can see any whale getting ready to dump, ...
Before buying altcoin you should check the news about the coin on the forum or website (Fundamental)
Compare the coin price with another exchange, and see graphic on exchange
Compare the coin price with another exchange, and see graphic on exchange
How and where to check and what to check first before buying a coin?
Altcoins is pretty much like lottery, winner and loser, you are lucky if pick the right one, this is what I view them. Also checking Bittrex.com for shakers and movers, then try to find it Bitcointalk if this positivity is true to the sound of community, never buy any thing with self-moderated OP.
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How and where to check and what to check first before buying a coin?
first, you need to check into coinmarketcap for the coins, see what the position of the coins, how is the trend of the coins, then you can check into the market. how much the volume of the coins, the price now, what conditions of the trend (is it up or down), how the position of order sell and order buy and more of this. you can search with your own before you buy the coins and be careful because sometimes if there is a big wall, you need to determine if its really down or up.
Yeah. i agree to @ppc.pt .. first check information on search engines, that will give you lot of information to work with..
When you have information about team, business model. e.t.c. do the action, or don't
P.S. Grate note that i found somewhere is to invest in what you believe, for example if coin price goes dooooown, you would still support that coin and keep your money there..
When you have information about team, business model. e.t.c. do the action, or don't
P.S. Grate note that i found somewhere is to invest in what you believe, for example if coin price goes dooooown, you would still support that coin and keep your money there..
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