I think the most important thing is the marketcap, people keep investing into stuff like ripple for example saying its just 60 cents or whatever it is right now and it can go to 2 dollars easily. That is not how the trading world works, you need to increase the marketcap for the price to go up and when marketcap is 24 billion dollars its not easy to increase it.
"Just 2 dollars from 60 cents" is not a good way to invest into something. Ethereum is like 240 dollars each yet same marketcap with ripple that only means the supply for ripple is a lot more. You need to know what eth is (ico king) and what ripple is (blockchain company) and watch what they are doing and not the prices.
Topic: Consider these before investing in cryptocurrency (Read 133 times)
this year, even the top projects that collect hard cap on the listing price falls dozens of times. Therefore, even if there is a finished product and an excellent team, no one runs to invest money in them. And even with these rules, there is still a great likelihood for the scam
thanks for the very good advice the author! I think that we need to study the project in more detail before investing in it
consider who formed and is on the ICO team
Check team background, find transparency, work experience and their emotional maturity. If there are deficiencies in business experience in the core team, how will they overcome difficulties or increase funds.
Check team background, find transparency, work experience and their emotional maturity. If there are deficiencies in business experience in the core team, how will they overcome difficulties or increase funds.
There must be a clear need that must be fulfilled, a market with a solution and ideally the long-term vision there must be clear and profitable. Read their whitepaper carefully, look at the roadmap and carefully address the currency and Blockchain industries addressed.
On some cases Beginners are just here to risk there money and wishing that they will grant their wishes to take profit overnight due to some hype or what we call FOMO- The thing here is we should be resilience on how to avoid those scam tokens- Particularly those who dumo their tokens on exchanges.
Total Supply and Circulating supply of the coins
This is something everybody should check before long term investments. My rule is, the closer the circulating supply is to the total supply the more valuable to coin can be down the road. If the coin has a low circulating supply I try to stay away from it because it is hard to tell what's going to happen in the future.
You will not find a clear opinion about investing in cryptocurrency. Views on the world of digital coins sometimes differ completely radically.On cryptocurrencies earn, and using different options: both on mining or exchange trade, and classical purchase and further long-term storage of coins.
Don't just buy into cryptocurrency coins without making due process on the following factors:
Total Supply and Circulating supply of the coins
Price during ico if any.
Community strength during and after ico.
Any coin burn and how many will be burnt.
Antecedent of the developer
Is there an established company behind them?
If not, at least does the team have expertise, experience, and trust from others?
Do they have a working product or revenue/profit stream?
Do you trust them? do they have a service or product that will endure for years to come..
And above all the use case of the coin. The use case triggers speculation and speculations fuels the price increase.
Of course, there are many more, but it’s common sense for the most part…
If the answer is no to any of those, it’s best to avoid investing.
Total Supply and Circulating supply of the coins
Price during ico if any.
Community strength during and after ico.
Any coin burn and how many will be burnt.
Antecedent of the developer
Is there an established company behind them?
If not, at least does the team have expertise, experience, and trust from others?
Do they have a working product or revenue/profit stream?
Do you trust them? do they have a service or product that will endure for years to come..
And above all the use case of the coin. The use case triggers speculation and speculations fuels the price increase.
Of course, there are many more, but it’s common sense for the most part…
If the answer is no to any of those, it’s best to avoid investing.
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