Understanding cryptocurrencies and investment. - page 7.

justdimin

hero member

Activity: 3164

Merit: 675

www.Crypto.Games: Multiple coins, multiple games

Quote from: bitzizzix on May 23, 2023, 10:57:56 AM

Quote from: initim on May 05, 2023, 03:15:45 PM

Crypto is a digital currency that comprises different coins. It's important that we understand how this coin works and which to invest in. How do we identify the best coin and the period to invest in these types of coins?

You should first consider that crypto values fluctuate and go up or down very easily, meaning you can lose a lot of money in a short time if you choose the wrong coin.
do a thorough research on the coin you choose, and my advice is that you should choose the top or oldest altcoin that has a good footprint especially in the long term because long term is the best option that will provide good returns. But it all depends on the coin you choose, so it's best to study and understand the risks associated with the coin you choose before committing and using the money you can afford to lose

I think it would be that much risky on volatile ups and downs if you are investing into something that will make you lose a lot of money, if you do not do that then you are going to end up with something much better. I personally believe that the best thing we could do would be making sure that we invest into something a lot better than that, something that will not have such high volatile ups and downs and no risks of manipulation.

Obviously even bitcoin goes up and down, but at least it is not going up down as much as the other ones, and it can always recover when it goes down, even if you buy at ATH price, you could DCA your way back into profit, if you bought at 68k, then you could have bought so much more when it was under 20k and you would be in profit today, it all depends on your strategy.

bitzizzix

sr. member

Activity: 2366

Merit: 448

Enjoy 500% bonus + 70 FS

Quote from: initim on May 05, 2023, 03:15:45 PM

Crypto is a digital currency that comprises different coins. It's important that we understand how this coin works and which to invest in. How do we identify the best coin and the period to invest in these types of coins?

You should first consider that crypto values fluctuate and go up or down very easily, meaning you can lose a lot of money in a short time if you choose the wrong coin.
do a thorough research on the coin you choose, and my advice is that you should choose the top or oldest altcoin that has a good footprint especially in the long term because long term is the best option that will provide good returns. But it all depends on the coin you choose, so it's best to study and understand the risks associated with the coin you choose before committing and using the money you can afford to lose

Lamkuthang

member

Activity: 335

Merit: 34

Low Fidelity High Potential

Quote from: peter0425 on May 23, 2023, 02:10:03 AM

The things you must learn and understand here if you truly wanted to succeed .

1.Stay Long in cryptospace and specially in checking the market and listening to the people here in the field

2.Forget about being Greedy because this is why majority of people turns a loser because of their bad attitude that brings them to failure.

3.Only Buy coins or invest in projects that has Big potential and never to those pumping and dumping one or those who are planned to be a scam one.

If you can find yourself turning into those? then of course you will get what you wanted to find here.

Yes agree. Long stay in the cryptospace is an important factor of habit and training for thinking individuals. It seems that in point 1 what you conveyed for me or others here is very easy to understand. Yes. Usually, no matter how big or how small, related to the issue of cryptocurrencies that are spreading, there will always be related discussions in this forum.

huu78

sr. member

Activity: 1204

Merit: 253

Undeads.com - P2E Runner Game

Quote from: initim on May 05, 2023, 03:15:45 PM

Crypto is a digital currency that comprises different coins. It's important that we understand how this coin works and which to invest in. How do we identify the best coin and the period to invest in these types of coins?

Identifying the best cryptocurrency to invest in and determining the right time to invest can be challenging due to the volatile nature of the crypto market.
It's also crucial to set realistic expectations and be prepared for potential market downturns. Investing only what you can afford to lose is a fundamental principle to follow, as the crypto market carries inherent risks.

Rampagoe004

sr. member

Activity: 1624

Merit: 339

https://duelbits.com/

There is no one exact answer for which question and when period. I've been investing in cryptocurrencies for a long time and I see that most of them follow the trend. You can choose between 2 things: Coins that are being hype or coins that have a stable price over a long period of time. Both have advantages and disadvantages.
To understand more about cryptocurrencies I will give you some links that I often use as my reading material in this regard:
https://cryptonews.com/
https://www.coindesk.com/
https://cointelegraph.com/

I hope it helps you guys ! Grin

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: initim on May 05, 2023, 03:15:45 PM

Crypto is a digital currency that comprises different coins. It's important that we understand how this coin works and which to invest in. How do we identify the best coin and the period to invest in these types of coins?

The things you must learn and understand here if you truly wanted to succeed .

1.Stay Long in cryptospace and specially in checking the market and listening to the people here in the field

2.Forget about being Greedy because this is why majority of people turns a loser because of their bad attitude that brings them to failure.

3.Only Buy coins or invest in projects that has Big potential and never to those pumping and dumping one or those who are planned to be a scam one.

If you can find yourself turning into those? then of course you will get what you wanted to find here.

gaston castano

sr. member

Activity: 1526

Merit: 251

Quote from: ethereumhunter on May 07, 2023, 12:17:17 AM

As long as you only invest in bitcoins, it is the best coin in crypto so you can get great returns or profits in the future. If you want to invest in bitcoin, you are prepared to hold it for several years until it can make or reach its latest ATH price and then sell it for a big profit.

But if you invest in altcoins, this is a bit difficult because you have to find the right altcoins to make big profits. That's why if you want to invest in altcoins, you also have to be able to analyze them to find the coins so you can get the right coins. Investing in altcoins takes longer because you must analyze them before investing. And to hold the altcoins, it looks like you can use short and medium term investments and after you have made a profit, you can move to other altcoins.

Investing in cryptocurrencies, including Bitcoin and altcoins, can potentially yield significant returns, but it's important to approach it with caution and understanding.
Bitcoin has been one of the most well-known and widely adopted cryptocurrencies, and it has experienced substantial price increases in the past. However, past performance is not a guarantee of future results, and the cryptocurrency market is highly volatile and unpredictable. While some individuals have made substantial profits by investing in Bitcoin, others have also experienced significant losses.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: initim on May 05, 2023, 03:15:45 PM

Crypto is a digital currency that comprises different coins. It's important that we understand how this coin works and which to invest in. How do we identify the best coin and the period to invest in these types of coins?

Through hard work like everything else, there is no other way to find good coins than to increase your knowledge about this market and then go through hundreds of coins and find the few which have any potential at all, if you think you can find good coins with no effort or by relying on the advice of someone else then you need to reconsider your strategy, as if you actually follow it then you will lose all your money in no time at all.

Rengga Jati

hero member

Activity: 2072

Merit: 656

royalstarscasino.com

Quote from: initim on May 05, 2023, 03:15:45 PM

Crypto is a digital currency that comprises different coins. It's important that we understand how this coin works and which to invest in. How do we identify the best coin and the period to invest in these types of coins?

Exactly, this will depend on each co8n.
For Bitcoin, this is the best crypto for investment, this is suitable and more precious for long term holding, at least until facing the Bullish era.
For altcoins, we must be able to differentiate the old altcoins that still have chances to survive and grow up again in the next bullish era and also the new comers.
For old tcoins, choose the one with high market cap, its use case, and also how the possibility to rise up. I will prefer to the top altcoins, although none gives guarantee.
For new altcoins, if you are newbies, this is very not recommended to enter, it is higher risk.

Natalim

hero member

Activity: 3094

Merit: 606

BTC to the MOON in 2019

Quote from: Psynthax on May 22, 2023, 09:49:14 AM

those things mentioned are definitely basic common knowledge that everyone interested in cryptocurrency investment should know.
but there are also need to understand that the investing in general isn't just waiting your money to grow, there are risk accompanied that can causes massive lose.

Losses will only happen to you if you are investing the wrong coins and most of all if you are too emotional where you easily get panic and are badly affected by the FUD. It is important that we have to understand the natural behavior of the market (volatility) as this is very important before investing, not after losing our money. Well, the most common mistake we have is to never anticipate the volatility of the market and we keep ourselves positive always which in fact, we need also to do side steps if necessary in order to avoid major losses.

Psynthax

hero member

Activity: 2366

Merit: 504

those things mentioned are definitely basic common knowledge that everyone interested in cryptocurrency investment should know.
but there are also need to understand that the investing in general isn't just waiting your money to grow, there are risk accompanied that can causes massive lose.

dlightag

member

Activity: 519

Merit: 12

The world is changing and cryptocurrency market has come to take the world by stone over night, which any new investors that came in new, need to undergo with information and knowledge how crypto work's with patients and giving your investment time to grow.

Xal0lex

staff

Activity: 2436

Merit: 2347

Quote from: initim on May 05, 2023, 03:15:45 PM

Crypto is a digital currency that comprises different coins. It's important that we understand how this coin works and which to invest in. How do we identify the best coin and the period to invest in these types of coins?

There is no universal answer. Some might say one should consider the fundamental qualities of a coin and look at its utilitarian qualities. Both ETH and SOL belong to such coins. Except that ETH can be kept in portfolio during 3-5 years, but about SOL, can anybody be sure that it will grow during 5 years? From that we can conclude that altcoins are very bad for long term holding, it is better to sell them periodically and then rebuy them at lower prices, if the coin will continue to show strong development by that time. That is much better and safer than holding altcoins for years with nothing to do with them. Altcoins are not bitcoin, they die very often.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: jacafbiz on May 21, 2023, 01:59:00 PM

To most people Crypto is just a means to make a living, 99% of people that got involved in Crypto don't know how to analyze a project so advising them to do due diligence before investing in a coin or tokens is a waste of time, what I advise people to do is play the herb. To make money in this space you need to follow the herb, what is the next thing the market is going to start shilling, just look at the crazy Memecoin movement we just had, Pepe hit more than $1 billion Market-cap within days, what analysis will tell you to invest in a Memes

I think many people entered crypto in this forum for earning but many are there who have investments and are looking for the long term gains. Altcoins and others have only been here for short term gains. Memecoins have only been here for scamming it's investors to be honest. The reason they are created is for their owners and advisors to make money. They will shut down before you know it and you will be left with a shitcoin with non value or liquidity to sell at. If investors knew how to analyse the projects, it's team and their background they would quickly realise that th project would be a scam in a few months.

Trading on altcoins should therefore not be a method to make money rather a side hustle. Bitcoin trading can be a long term hustle.

uneng

hero member

Activity: 2044

Merit: 784

Leading Crypto Sports Betting & Casino Platform

Quote from: Nrcewker on May 21, 2023, 12:34:19 PM

Quote from: initim on May 05, 2023, 03:15:45 PM

Crypto is a digital currency that comprises different coins. It's important that we understand how this coin works and which to invest in. How do we identify the best coin and the period to invest in these types of coins?

If anyone truly knows which is the best coin and the time period he/she should invest in it, then definitely by now he should be the richest person here in the forum. I mean mate, no one has seen the future, all we do here is just estimate the price of a particular coin with proper calculations and informations. We seek multiple people’s opinions and then choose the coin to invest in. I can’t name you a coin directly, but if you check the coins with high marketcap, then I am sure that, it will give you good amount of profits. Moreover investing is subject to market conditions, so wisely invest.

The ideal is that the investment is made during the bearish market, as prices are cheaper, and once a new bull season begins, the portfolio can be sold for profit. It's not possible to predict exactly the best moment to buy and sell, but it's possible to understand when we are in a bearish and in a bull market. Like now, for an example, we are in a bear season, so it's advised we accumulate most coins as possible (especially Bitcoin), and wait for the bull.

The best coins will depend on what is his focus. Is he a conservative or an aggressive one? Being a conservative, his strategy will be more strict to BTC, while being an aggressive one will involve altcoins, including unknown ones, which have growing potential around x100 or x1000, as some believe, although after all the performance of such coins can be negative for the investor...

jacafbiz

hero member

Activity: 2128

Merit: 530

PredX - AI-Powered Prediction Market

To most people Crypto is just a means to make a living, 99% of people that got involved in Crypto don't know how to analyze a project so advising them to do due diligence before investing in a coin or tokens is a waste of time, what I advise people to do is play the herb. To make money in this space you need to follow the herb, what is the next thing the market is going to start shilling, just look at the crazy Memecoin movement we just had, Pepe hit more than $1 billion Market-cap within days, what analysis will tell you to invest in a Memes

Nrcewker

copper member

Activity: 2268

Merit: 539

LuckyDiamond.io - FLAT 50% Deposit Bonus!

Quote from: initim on May 05, 2023, 03:15:45 PM

Crypto is a digital currency that comprises different coins. It's important that we understand how this coin works and which to invest in. How do we identify the best coin and the period to invest in these types of coins?

If anyone truly knows which is the best coin and the time period he/she should invest in it, then definitely by now he should be the richest person here in the forum. I mean mate, no one has seen the future, all we do here is just estimate the price of a particular coin with proper calculations and informations. We seek multiple people’s opinions and then choose the coin to invest in. I can’t name you a coin directly, but if you check the coins with high marketcap, then I am sure that, it will give you good amount of profits. Moreover investing is subject to market conditions, so wisely invest.

lalabotax

full member

Activity: 1582

Merit: 132

BK8 - Most Trusted Gambling Platform

Quote from: initim on May 05, 2023, 03:15:45 PM

Crypto is a digital currency that comprises different coins. It's important that we understand how this coin works and which to invest in. How do we identify the best coin and the period to invest in these types of coins?

One thing that you must remember when going to invest in Cryptocurrency:
never invest in hype new altcoins that commonly many people, especially influencers will tell you. Avoid this kind of hype altcoin, and never FOMO.
there is no guarantee that every investment in crypto will be always successful.
But, so far, the most reputable and trusted crypto for long-term investment especially Bitcoin. Bitcoin has its cycle, after halving, this commonly will have a rising up price and its good trend.

Commonly, the previous Ebarish era and right now is still one of the best time to invest in Bitcoin. And we can hold them to invest and wait for a longer time, it may be at least until meeting the next bullish era. And you can take profits in the bullish era, but watch the market. But, never be stressful if see the volatile price that will happen to Bitcoin, because this is one of the characteristics of Bitcoin itself.
Btw, there are so many altcoins, if you are willing to invest in altcoins, it is better to choose top altcoins as seen in the Coin market Cap https://coinmarketcap.com/. Although this doesn't guarantee that the coin will be worth it, it is still better than new coins with lower market cap.

Yamifoud

hero member

Activity: 2828

Merit: 518

Quote from: initim on May 05, 2023, 03:15:45 PM

Crypto is a digital currency that comprises different coins. It's important that we understand how this coin works and which to invest in. How do we identify the best coin and the period to invest in these types of coins?

- first, is to understand the nature of the market and the possible risks
- 2nd, choose the coins that are worthy enough ( not meme coins, not hyped projects nor it was shitcoins)
- 3rd, just buy during market corrections and hold

I guess this works as I've been doing this as well. It is very important to follow what is indicated in our plan and be consistent with it. Failure is very possible if we got influence by our emotion, so we must have to control it and understand the volatility of the market.

Velemir Sava

member

Activity: 295

Merit: 28

Enterapp

Quote from: initim on May 05, 2023, 03:15:45 PM

Crypto is a digital currency that comprises different coins. It's important that we understand how this coin works and which to invest in. How do we identify the best coin and the period to invest in these types of coins?

I just want to say that what we see as strong is not necessarily strong, what we see as potential is not necessarily potential. Look at Luna and FTX which are predicted to be big Coins and exchanges that fall and slip causing losses to many people.

So my view on how to identify the best coin is to choose the safest one and it doesn't make you tense up after you invest, the obvious meaning and don't like to choose high speculation.

Topic: Understanding cryptocurrencies and investment. - page 7. (Read 1412 times)