Topic: How to decide on your cryptocoins? (Read 1382 times)

I use http://coinmarketcap.com/ become good ref for buy altcoins and investing into them
there are some coins that has large volume of transaction on the markets
actually what will be done with the altcoins, ( the aim we make investment in altcoins, building projects or trading altcoins), it is important before buy altcoins, personality i use them for trading altcoins.

Usually i see from transaction volume and the updated news, from the forum you can know which coin is actually a potential coin, but finding a long term potential alt coin to invest is really difficult, i prefer invest in other things rather than in alt coin, the price is too unstable

I know your purpose is to profit but how will you act here when you want to choose a certain alt? Like in bitcoin, mostly are holding or like in other alts doing day trades etc, what is your preferred? If holding purposes I see no alts can give you an impact in the long term holding since coins are not distributed well and being used therefore majority are bagholders and whales that can dictate the flow of the price. If day trades or playing with the active price fluctuations everyday, I suggest to look carefully at those altcoin that will established a good volume day by day.

How to do that? It's really hard since you don't have a specific coins to choose. I suggest to look carefully at the price chart volume in those exchange. Make some research about the coin you will see there with an active large volume. After that make now some conclusion. Can't give you the specific alts since they are vary but if you give seriousness in this activity it will turned you to a success.

Deciding where to put our investment could be a hard thing especially if we are new here in bitcoin industry, however, there is called forum here where you can ask what are there investment is and their strategy and do own research study first its flow and investigate it and read some testimonies in the internet.

https://www.coingecko.com/en

This helps a bit. so you can see how popular and how much development coin have. But please top10 coins there are not 100% best and worse then rank100 coins there are not totally crap.  Just take that rank as some factor of choosing.  Chose few coins and research them more. You have only 24h a day so it will be impossible to research all you will want to

Understanding the the code is important. Or at the very least you should understand what.the code is doing to the coin. For example on a proof of stake coin, knowing the minimum stake age and maximum stake age, what it does, why it's important or not. In short you need to understand the parameters of the coin and then you will better be able to know if you should invest or not based on your own desires for what you want in a coin.

I'm usually see community feedback (CM) & volume transaction (VT)

CM = altcoin usually live longer if there are many support from investor . Investor are being attract by community feedback

VT = if the transaction is huge, means this altcoin will compete and live longer than other altcoin

whenever you want a big profit you should look for potential in the investments you want to make.
for example you can see the real potential in bitcoin (I say bitcoin because everyone can agree on) it is being adopted, developed and the price is rising. and on top of that it has real world applications which is helping it be adopted.

now in anything else this potential may exist but in a different form. for example monero has a good potential since it has anonymous transactions and was the hype of the month a while back.
litecoin has always have potential. now with the segwit it becomes even more.
and many more, you have to find them and go in before anyone else finds out about them.

The life of any coin is the community,if the coin is not gaining any support from miners.holders and traders it will just sunk,so far the coins worth investing are those coins in the top ten of coinmarketcap,they have build their reputation,their volume and  traders and miners continuously support the market they are in.

To me where to invest / what to invest into mean pretty much the same thing.

So you asking for advice, because you dont want to take advice, would seem nonsensical, to my mind anyway.

When i decide to choose a particular altcoin i usually check first its Developer if i saw them and not hiding then its already a check for me and next im checking the community support for that coin if i saw theres less people then i would pass and seek for another coin.Roadmap is an important thing for me because you would able to saw what are the plans of Devs for this coin.

Every coin was already on the market it's worth for the money. You can see about their demand, the coin which has a successful development will having the strong demand.

Every coin has made with the similar code. At least you can call it copycat. the community, the development, the current result of development.

You need to research about the altcoin you like to buy. You should read their white paper and other features. You must look also at the community. Devs should be actively supports their community. Sometimes devs are just abandoning their community. So be careful choosing right altcoin. Just use top altcoins instead of newly created coin. Maybe they are not cheap but atleast theres assurance that you can get some profits.

This is true, which is why I'm partial to the big altcoins (doge, Dash, litecoin).  All of the other ones have transient communities that are destined for the graveyard.  You can actually find merchants who accept doge and litecoin, but who's going to take TRUMP, or WAVES or whatever.  No one, that's who.  So yeah, community is definitely important.

This gets asked in a similar way getting the same exact replies pretty much daily.

anyway  

I would say the root of it is what are you after ?
It's funny i am the only one who ever said this from what i recall.
And i have been lecturing you all saying it over & over for ages too.

Boils down to being a profiteer or supporter.

- A profiteer will invest in ANYTHING as long as they get a profit.

- A supporter will be looking for a project that is legit basically.

What that ends up meaning is finding a crypto currency with a vision that you believe in.
Say Maidsafe or Monero, Dash or ETH etc.
They have a different vision.
So do they seem like something you want to support ?

How they work + ideology and morals come into play of course.
For example any coin that is an ICO is out of the question with my beliefs / reasoning.

Showing up here in the crypto scene is a rude awakening.
Right away the first thing thrown in your face is morality issues.
Then you are continually tested.

What you think may change in time.. it's a learning process.
I myself have had to rethink things many times since i started.
For example i think the first coin i *tried to support by defending it here a little was FTC / Feathercoin.
Back then years ago i was not aware of cloning problems and i thought their "community" bullshit was convincing.
And i am glad i dropped that shit.. it's done nothing since years later.

I was naive basically.. i was low hanging crypto-fruit  

I would value honesty with a coin and it's related dev's etc more than anything.
I am not worried if they have bad past or made mistakes either.
As long as they are sincere and want to move forward in a constructive way.

Good luck NOOBS ..you are going to need (it hurts losing your crypto-trader-virginity to scammers)

Very simple rule for the long term investment buy only bitcoin, for the short term speculations altcoins of  highest 10 capitalization list is possible and don't risk more than 5% on alts

That's true the community has a big impact in the development and adoptions of any coin,even if the coin has a good features but if there are no community support I don't think it will go farther,the holders or the community should be actively participating on it.

this question has been asked a thousand times and there is never a proper answer for it because you can never choose only one factor that leads to a success of an altcoin. there are so many different factors all contributing to the success or doom of a crypto currency.

all the things you mentioned are important one way or another.
- it needs a strong code, for example you can't get hacked each month and hard fork and then expect your coin to shine
- developer team is important since they should keep on developing and not just think about making money
- the community as was mentioned is important, but not that much because if the coin is good the community will shape up and people will adopt it. this one is not a thing that can be forced.

Just like what other members said above this is the best advice or answer related on your question on which i do really strongly agree on this because seeing the community would really indicate that this particular coin does really have the potential.Those dev,strong code would be nothing if there are no supporters of the project.

If it's meant for long term or you are eyeing for a long term profits then go on the advice of Microguy since no doubt that is really true.

If you meant of making profits within a short term then risk some small money on those new coins at ICO. There is no way an investor can choose coins and be sure that it will give profit on their side. That's how risky altcoin trading is.

Only bitcoin can give you a peaceful mind that it will give you profit in the future since there is continous support in the community.