Topic: How do you choose altcoins you buy? (Read 706 times)

Research the coin's tech, devs, history. Asking myself, is this coin useful? Is it a good global currency? If not a currency, what problem does the coin solve? What use will it have in the real world in 3-8 years? Why will people want and use this technology? How unique is the technology of this coin (or is it the same as what 10 other coins are already doing)?

Yes I can vouch for the marketcap factor. I mean it’s always beneficial when you choose a coin whose marketcap is high. In this manner it proves that the coin is pretty popular among the masses, and more people have known about it. Big marketcap also defines that the volume that is traded for the coin in many exchanges and it is a good signal that the coin has scope to rise in the future. Moreover if the coin has a good core team or popular celebrities supporting the altcoin, then definitely you can add it into the bag.

yes I agree, for me the team behind the project is also important because these people have full control over the project. knowing the team especially the founder and CEO is very important because they have to be competent in their field, and maybe you can find out from their social media or searching for information on the internet.

You forgot the team behind the project, it also important to know the team back ground behind the projects because iif the team is not transparent there will be a trust issue, most of the project that has an unknown team is scam so it is also important to know the team behind the project thier history and their background and experience.

if i will look at this factor,
1. product of the project
2. the whitepaper and roadmap of the project are running as specified or not
3. see if there is any progress or not in the project
4. partners in the project
5. community of the project

if i will look at this factor,
1. product of the project
2. the whitepaper and roadmap of the project are running as specified or not
3. see if there is any progress or not in the project
4. partners in the project
5. community of the project

I've been around for a while so my tactic has varied a lot. I have choosen my coins and tokens by the fact they have:

Real world use case: When i came in i was told buy coins with actual real world use case. I tried to find those but so far i haven't found any real world adoption for anything other than permissionless transfer of wealth that's been done with bitcoin from the start. Maybe some smart contracts can be useful but they have not been adopted in any significant scale. There's potential in many of them, but most of them are now going to be adopted ever. And even their devs know this, yet they can't really say it as they want to sell their snake oil. I a still looking for even one that might be adopted.

Good tokenomics: This i am still using as a reason to buy. Issuance rate needs to be sustainable, and distribution needs to be wide and fair. Marketcap needs to be low enough if we are not talking about the coins that already have the necessary net effect to attract developers and keep on growing more.

Team: I find this most important, without good team that knows their stuff you are destined to fail. In ideal case i choose professionals that are transparent and know what they are doing. They have coders in lead, their own legal team, and regular amas. Needless to say that i want everyone doxxed. So far every coin or token with anon devs that i have bought have vanished.

Right size marketcap: Most money i have made in this game is by finding suitable microcaps, like under $100k. If conditions are right, they can something like to 500k and above really fast, and i can take like 70% of my investment out potentially very fast. Rest of them stay for moonshot. But as a disclaimer i would like to say that while microcaps have have technically most room to grow, they also have highest changes of being rug pulls or slow rug pulls.

Trusting a tip from a friend: For some weird reason my newb friends have found some gems. They don't even necessary understand what marketcap means or how to do research. They might have bought because they liked the name. I see no reason buying them but they are making a killng with them. These days i throw some money on what ever they say. That might not be smart but i might as well.

Aping in to just tokens that has just been released: By doing this i don't have even the time to do decent research. I try to look everything as fast as i can and hope for the best. With this tactic i have found my best micro caps. I have also been bought into some instant rug pulls.

I believe it's essential for us to conduct research on numerous coins that raised funds during the previous cycle and are still active, as they aim to enter the market in the near future. Some of these projects have successfully raised a significant amount of funds and demonstrate solid potential. I think the risk can be reasonably managed if we make small investments and there are opportunities for listing. I can recommend a few like Gaimin, Ego paysenger, Ethernity cloud etc

Tbh, what kind of real use case that owned by crypto? I see nothing for sure but it's only mainly become a way to transacting your money to others. Almost all of crypto have no real use case.

Im always using these metrics before try to pick a coin

- Backers
- Tokenomic
- Smartcontract
- Identity from the team (I guess if the project has good backers and the team has already doxxed)

That's enough for me to determine whether that has big potential for the future or not.

Correct me if i am wrong but i think it's cheaper or at least as cheap to send usdt via polygon or bep20 network. You don't need to use erc20 for that. Or at least i haven't used erc20 or trc20 for usdt for a long time as there has been no need for it. But as we are speaking of pennies anyway, it wouldn't even matter if i had to use $1 or $0.20 for tx.

Investment approaches can vary from person to person, and you will choose a strategy that suits your risk tolerance, investment goals, and personal preferences. There is volatility and rapid change in value when navigating the cryptocurrency market, so people like and care about it. However, the risk is there, and choosing the thousands of coins out there that match your financial requirements can be quite a challenge. So how you approach it will allow you to make more informed decisions in the ever-changing crypto market.