Understanding cryptocurrencies and investment. - page 9.

Wexnident

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Quote from: initim on May 05, 2023, 04:15:45 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's no "best" imo since coins can be used in different types of scenarios that the creator wanted. Bitcoin encompasses most (if not all) usage of crypto as a currency, but other coins delve deeper into specific parts, e.g. crypto casinos with their own self-developed coin that introduce benefits depending on the amount you own, so it's a case-by-case basis imo. Ofc if we were to talk about decentralization then only Bitcoin really fits the bill, but if we pull that out and check their usage as "currencies", then they're all the same really, but if you were to look into the specifics, then well, it's similar to how you would judge a company and whether you'd invest in their stocks or not.

Long story short is really, up to you, and do DYOR.

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crypto is the currency used to invest. in the eyes of investors they perceive a coin with good fundamentals or a good roadmap they will say is worth investing in. Those who become investors will turn their money into coins that they consider potentially profitable in the future. it is very simple, but if you are trying to be an investor see the potential of the coin it is the hardest part. you have to learn and have a lot of experience there.

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Quote from: initim on May 05, 2023, 04:15:45 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?

Starting to do your own research and gain experience in this or any other market will help anyone achieve the desired results. However, in the context of information overflowing with negative and positive things, it is a barrier for people to access information and have a good experience with life. As I can see some friends come to this market they only notice the increase in the price of the coins they bought but they don't care much about this field, stupid fomo with misunderstanding about investment, the way the concept is swapped to abuse for the bad purposes of many different people.

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Quote from: initim on May 05, 2023, 04:15:45 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?

This identification has only a small chance of success the true capital here is your own personal experience when you do your own research without relying on the influencers and other posts on social media regarding some altcoins because they might just gonna hype you with their sweet words and will gonna leave you when they've done with their job because that's always when they do, they hype a certain altcoin and when the price will rise up they will sell their holdings and leave you with that and in the end the price will crash and you won't gonna see the price recover again because the hype is no longer there and the developers are no longer interested updating their project anymore.

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the way is by studying the projects we invest in, we can assess how far they can fly, how strong they will last, how well we hold our investment in that project. well, this requires policy, and a mature decision, of course you have to have an investor mentality like you have to be ready to lose if you miscalculate in your predictions, that's a natural thing, so don't ever use hot money here.

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Quote from: initim on May 05, 2023, 04:15:45 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?

To properly understand how the crypto currency investing works, It is important that you study, research and know first how risky and volatile the crypto market is. Take time to read on the white paper on the coin that you target to invest, check on the background of the developers and the people behind those coins how credible they are on their crafts. There are a lot of coins circulating in the crypto currency world and it is hard to choose which one to invest to. I think the best time to invest is during bearish market because during this time majority of the coins have a lower values and you can take advantages of that and keep your investment for long term for a much bigger profit.

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If we talk about crypto, I think it's really important to do your research first your coin or altcoin your invest. Look a team, progress like update on Twitter, telegram or Discord. Can give you question details more, for invest what? buying coin in market or you buying coin in Presale?

I mean, there are so many digital currencies out there, and each has its own unique features and potential for growth. For me, the best way to identify a good coin to invest in is by analyzing its fundamentals, like the project's team, use case, and technology behind it.

Now, about the period to invest, I think it's crucial to keep an eye on market trends and news. Because crypto market is very sensitive with issue. Sometimes the best time to invest is during a dip or when there's a positive development around a particular coin. So, in short, it's really about staying informed and being patient to find the right opportunity.

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Quote from: initim on May 05, 2023, 04:15:45 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?

Most of the investors of crypto currencies are doing their own research first and check on the background of the developer and the people behind that project. It is important to know credibility of the people behind a particular crypto project. With that you will be confident enough to invest in that crypto currency. Some of investors use different methods to know if the coin is worth investing, like technical analysis, fundamental analysis and market sentinel analysis. Identifying the best coin will take time because of the thorough research that we need to do. Identifying also the period on when to invest is hard because of the volatility of the market.

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Having the financial means to invest is an important consideration before deciding when to invest in cryptocurrencies. So the best time to invest in cryptocurrencies depends on your individual financial situation, investment goals, and risk tolerance. It's important to have a clear investment plan and to do your own research before making any investment decisions. Yes, as always, is DYOR

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I would like to call that if there are only a few that can be used as investment but most of cryptos in the market being used for pump and dump purpose. You can see that how meme coins were going up so crazy. It's likely that if the time for another bullish trend is coming soon.
I do believe if we will see that crypto to increase again caused by the meme signal has been coming to us.

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Quote from: initim on May 05, 2023, 04:15:45 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 you ask 10 people about which crypto project is the best to invest in, then i am pretty sure, that you will get at least 8 different answers to that question, because nowadays there are just so many cryptocurrencies out there that it is totally overwhelming. I would guess that there are hundreds of new crypto projects created each and every day of course 99% of those are just stupid meme-coins that are dead again in a few days anyway so i would not really count them in for a possible investment.
I also have to say, that i don't agree with the statement of bitcoin maximalists, that there is only one good project and that is bitcoin. In my opinion there are a lot of good altcoins out there that are already very big and that are offering a lot of functionality to it's users.

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Quote from: Yatsan on May 05, 2023, 07:30:51 PM

Quote from: initim on May 05, 2023, 04:15:45 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?

Volume, popularity, and demand I guess woulddetermine whether a coin is good to invest or not. Also with the previous price movement. For example, if a coin is down 70% for more than two weeks, and still has a large 24hr volume, then we may expect for a price increase on third or fourth week. Take note that it has to have a volume 'coz if not, investing into it would take you forever to generate profit. And with possible pullbacks and pumps, check for the daily pivot of the market price to give you an idea whether entering its market would be profitable once recovery occurs. It just happens that not all token would be able to recover quickly.

not only demand but look at the use case of this coin. can it sustain its demand in long-term? because the demand may be temporary especially if the dev team is trying to pump their coin. dig deeper. do you think their use case will be used more in our day to day living? because the use case itself should sustain its existence. if the use case is just for few people, it may not survive.

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Quote from: initim on May 05, 2023, 04:15:45 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?

Volume, popularity, and demand I guess woulddetermine whether a coin is good to invest or not. Also with the previous price movement. For example, if a coin is down 70% for more than two weeks, and still has a large 24hr volume, then we may expect for a price increase on third or fourth week. Take note that it has to have a volume 'coz if not, investing into it would take you forever to generate profit. And with possible pullbacks and pumps, check for the daily pivot of the market price to give you an idea whether entering its market would be profitable once recovery occurs. It just happens that not all token would be able to recover quickly.

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Quote from: initim on May 05, 2023, 04:15:45 PM

How do we identify the best coin and the period to invest in these types of coins?

Relying on others for investment advice without conducting your own research is a dangerous game. The cryptocurrency market is complex and unpredictable, with a high degree of volatility that can result in significant losses if not approached with caution.

Even if someone offers you a specific investment proposal, it is always important to do your own due diligence and research before investing your hard-earned money. Blindly following the advice of a stranger can lead to disastrous results, and you should understand the risks and potential rewards of any investment before making a decision. There are many fraudulent schemes out there that promise high returns on investment, but in reality, they are designed to scam unsuspecting investors.

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Quote from: initim on May 05, 2023, 04:15:45 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?

Certainly, you are not just talking about altcoins but also Bitcoin. Well, I would say that it was not hard to identify which coins are good for investment because if we just look at the coinmarketcap, we already know what coins are performing so well. It is not a wild guess but it should be done research. And those lazy people who couldn't just spend their time doing this will have a bigger chance to fall into quick-rich schemes and scam projects that have flooded in the market. As we can see, although we spread awareness on how to choose coins for investment many will still fall into scams and losses their money. Well, the problem is not the market but that person.

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Quote from: initim on May 05, 2023, 04:15:45 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.

Understanding the concept of cryptocurrency is very important for every beginner in cryptocurrency. Distinguishing between bitcoin and all other cryptocurrencies is also crucial. Its distinct nature can’t be compared to other coins whom at the long run sometimes exit the market. Altcoins are risky and not advisable to invest into, rather one should go for bitcoin investments.

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How do we identify the best coin and the period to invest in these types of coins?

That is up to you and the level of risk you are willing to face if you invest in any coin other than bitcoin. There are some coins that are doing well in the market, but keep in mind that maximum returns are not guaranteed and anything can happen at any time. After doing your own study on any kind of coin you choose to invest in other than bitcoin, the level of risk you're ready to accept is determined by the coin you choose after research.

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Investing in Bitcoin, it's you that will make the time for yourself to invest, when you are ready to invest, you can invest any time when you are ready to invest, but if you want to invest, you can invest now when the price is low, or when you're ready know the market when it's rise and fall and bear it the risk, even though you invest in the low price, you can still lose, patience is the key to investments, any obstacles that comes you endure and be patient, there'll always be risk involved because most times when the price of Bitcoin that decrease it's difficult to rise quick.

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If you're talking about altcoins, I'm not sure when you can safely invest in it because investing in altcoin will always be a risk you and you alone have to bear no matter when you invest in altcoin even when it's price is at its lowest there'll always be risk involved because most times when the price of an altcoin falls it's extremely difficult for it to rise back again, Sometimes it doesn't rise at all and you'll also have to deal with scams and rug pull projects.

That is why since you are still a beginner, it is more advisable that you go for Bitcoin. With Bitcoin, you don't have to worry about rug pulls and scams, and you can still invest in Bitcoin even if you don't know how to analyze the market, and that is through DCA'ing (Dollar Cost Average). You won't have to worry about the best time to invest with DCA because you'll be buying in bits. You can simply decide to buy a certain amount of Bitcoin every week or three times a month until you have enough in stash.

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Quote from: initim on May 05, 2023, 04:15:45 PM

How do we identify the best coin

There's no need to identify the best coin to invest in because that crown goes always to none other than, Bitcoin.

Quote from: initim on May 05, 2023, 04:15:45 PM

and the period to invest in these types of coins?

It's best to invest when you've got money ready to invest. If you want to invest now and the price could be lower than your set price but you've got no money, then start with the most basic thing when is the best time to buy that is when you've got money and you're totally all set that you'll buy no matter what. And as it's part of the foundation and a factor for someone before investing it.
Please do remember the most common suggestion of DYOR.

initim

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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?

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