Determine which coin to invest in? - page 2.

peevekos

newbie

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Quote from: OgNasty on July 17, 2020, 04:24:54 PM

Quote from: peevekos on July 17, 2020, 02:38:24 PM

Hi guys, I am seeking general crypto advice. What factors do you consider when you seek for a lesser-known currency to invest in? I am not talking about the top 10 or 20 coins, but lesser known coins.

Does it do something that Bitcoin can't? If not, don't invest.
Is there a founder's reward? If not, don't invest.
Is the distribution fair? If not, don't invest.
Is it an open source project anyone can contribute to? If not, don't invest.

I generally believe that 95% of your crypto holdings should be in Bitcoin, but a couple I wouldn't oppose seeing money thrown at are: Grin, Ravencoin, & Namecoin.

How would I go about checking if a coin's distribution is fair, or if there's a founder's reward?

OgNasty

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Leading Crypto Sports Betting & Casino Platform

Quote from: peevekos on July 17, 2020, 02:38:24 PM

Hi guys, I am seeking general crypto advice. What factors do you consider when you seek for a lesser-known currency to invest in? I am not talking about the top 10 or 20 coins, but lesser known coins.

Does it do something that Bitcoin can't? If not, don't invest.
Is there a founder's reward? If not, don't invest.
Is the distribution fair? If not, don't invest.
Is it an open source project anyone can contribute to? If not, don't invest.

I generally believe that 95% of your crypto holdings should be in Bitcoin, but a couple I wouldn't oppose seeing money thrown at are: Grin, Ravencoin, & Namecoin.

harizen

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Quote from: peevekos on July 17, 2020, 02:38:24 PM

Hi guys, I am seeking general crypto advice. What factors do you consider when you seek for a lesser-known currency to invest in?

Aside from those on the top, choosing other coins to invest is really tough and our own factors of choosing coins might not be as effective when you applied it to your own. As for me, I always look at how large the community is and some actions, plans and developments by the team behind that coin. But take note, still it's not an assurance that "it will be worth it" someday.

Since people have different preferences try to make your "own preferences".

Quote from: peevekos on July 17, 2020, 02:38:24 PM

I am not talking about the top 10 or 20 coins, but lesser known coins.

The fact that they are "lesser known coins", it's risky to just hopped in without understanding the risks.

I suggest to totally ignore them. But if your experience is telling you that "you want to take the risks", it's up to you. I've been there before and able to have a decent run playing at those kinds of coins/tokens but I understand the risks of what I did. Just go deep with DYOR skills as much as possible.

actmyname

copper member

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Spear the bees

"Lesser known coins" are 99% of the time utter shitcoins. Avoid most if they don't have something groundbreaking, because otherwise you're probably looking at another copy-pasted clonecoin that can go fork itself with the rest of 'em. Always be sure to use the "if it's too good to be true" principle when you're looking at very optimistic remarks. There is always a catch somewhere.

Pmalek

legendary

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I don't keep track of less known coins so I wouldn't be able to point you in the right direction. But one coin that seems to be doing really good lately is Chainlink - LINK. You have to do you own research if LINK is something you would be interested in. But they have recently signed different kind of partnerships with Google, Nexo, Ethereum, Huobi, etc.

jossiel

hero member

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We always see someone who's asking for those coins that are under the radar and probably thinking that they will skyrocket in the future. @OP be careful with investing with those lesser known cryptos.

They're prone to pump and dump scheme. But if you like to have one, DYOR, particularly with the team. Those copy paste teammates, names and picture are still happening for the new projects.

jackg

copper member

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https://bit.ly/387FXHi lightning theory

Quote from: ?? on ??

don't, unless you want to lose money.

Essentially...

You wouldn't go for 10 or 20 if you did want to find a good coin at the bottom of the pile and you'd probably have to do a lot of searching to get anywhere near that.

You're going to want to:
Inspect the dev team and check their credentials and experience
Look at what the coin tries to innovate
look at how far the team are from approaching that innovation.

Although if someone needs a private ico or crowd funding I think that says a lot about the team beind it. Not to mention a lot of icos scam or the coins do something eth or btc or a few other coins could do...

You're probably looking at the top 20 with good fundamentals and investing in those or just holding btc...

peevekos

newbie

Activity: 7

Merit: 4

Hi guys, I am seeking general crypto advice. What factors do you consider when you seek for a lesser-known currency to invest in? I am not talking about the top 10 or 20 coins, but lesser known coins.

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