Topic: What questions should I answer before I buy a new currency (Read 262 times)
I think the best way is always to keep yourself knowledgeable about the coin you would like to make an investment because not all the time we are getting a good coin instead this becomes a dead coin or a useless coin for the upcoming months or weeks if you want to have an assurance its better to buy already a coin like Ethereum and Bitcoin because its already build the reputation on the market but if you want to make an investment to a new coin always make sure you know the background and other possibilities to make it pump or make it dead not all the time its all about to explode avoid this kind of mindset too much.
What questions need to be asked to know that this is going to be the next explosion
Thank you so much everyone
Actually I ma lite bit confused about this question.Thank you so much everyone
But, if you meant by asking what to know about new cryptocurrencies that will boom or increase high percentage, maybe you can learn and research them.
Btw, as a newbie, you may not only focus on booming or hype coin or token, moreover if they are new. Because, most of them may target newbies, their high promotion to make some hype and also FOMO for most newbies, and then they try to attract new investors to buy their coins. It commonly happens when the rice is pumped so highly and then dropped so easily. And many newbies are trapped in this situation, buying at a high price and then panic when the price drops drastically.
In my opinion, taking new cryptocurrency is very risky. You may get high profits, but you will also have high risks of losing your money.
It may be better to take top coins or at least those that have good fundamentals and also high volume on the market. It is to minimize the risks
Apparently, it seems most shitcoins are generating the highest ROI. Look at Dogecoin, everyone knows what it was meant for and no one here might have thought about its massive price spike this year. Then there are a few projects in Defi that don't have any practical usage but still pumped. So, what does that mean for now? Buy an altcoin that is being talked about quite frequently on social platforms like Reddit or Facebook to earn a quick profit. For long term, gain invest in projects that have a strong team, product ready and have a real case usage.
since the OP is very new in this crypto market, he should not aim to invest on projects that have very high roi as those are really not sustainable approach. try checking the established and top alts first before going into the unknown area.
in time, he will learn how those coins are gaining massive increase in the market, and most of the time the reason is just simple - market manipulation which can lead to pump and dump scheme. so he needs to be careful in spotting those kind of coins.
How long you are in the crypto world? To know the potential explosion of a crypto coin, is a difficult thing, especially if you are a newcomer. But to remember that it is in the Bullish season, every coin has a chance to explode, except stable coin. So, make sure that you choose a good coin and buy at the right time, then keep holding till the price is increasing. You don't need to keep the coin till reaching ATH, just plan to sell untill a reachable rate. Since you are still a newcomer, better to set a realistic target for the short term.
Now is the perfect time to start trading. The same situation in the market was in 2017, when I started trading, buying almost any altcoin today, and selling it the next day in profit. But, as practice has shown, without understanding the market, the earned profit was also easy to lose when the market turned bearish.
Apparently, it seems most shitcoins are generating the highest ROI. Look at Dogecoin, everyone knows what it was meant for and no one here might have thought about its massive price spike this year. Then there are a few projects in Defi that don't have any practical usage but still pumped. So, what does that mean for now? Buy an altcoin that is being talked about quite frequently on social platforms like Reddit or Facebook to earn a quick profit. For long term, gain invest in projects that have a strong team, product ready and have a real case usage.
The largest plot twist/ no-u situation for an inflationary coin ngl. Mainly because of Elon's shilling, everyone just jumped into the hype train. Even after it tanked, hovering close to 60 cents is pretty resilient.
Apparently, it seems most shitcoins are generating the highest ROI. Look at Dogecoin, everyone knows what it was meant for and no one here might have thought about its massive price spike this year. Then there are a few projects in Defi that don't have any practical usage but still pumped. So, what does that mean for now? Buy an altcoin that is being talked about quite frequently on social platforms like Reddit or Facebook to earn a quick profit. For long term, gain invest in projects that have a strong team, product ready and have a real case usage.
If you don't fully understand it, don't try to be interested in altcoins, especially if you only see from the explosion while you don't know the background of the project, remember now that many shitcoins on the bsc network they buy with hundreds of millions of tokens but only the end result will only be. becomes rug pull and this really traps you when it is difficult to sell it, so don't look at the explosion because even potential coins when the time is at the pump will explode too, that's safer means the risk will not be as big as shitcoin in general.
I've seen a lot of altcoins explode but eventually die out of the team.
I've seen a lot of altcoins explode but eventually die out of the team.
Hello friends, I'm new to the world of altcoins
I see lately a lot of coins exploding by thousands of percent
What I need to know before having the explosion
What questions need to be asked to know that this is going to be the next explosion
Thank you so much everyone
I see lately a lot of coins exploding by thousands of percent
What I need to know before having the explosion
What questions need to be asked to know that this is going to be the next explosion
Thank you so much everyone
My best tip at the moment: Wait with the entry until the market has corrected a little. Prices are way too high at the moment and it is only a matter of time until prices correct a little or even more.
Then I would invest in a project and ask myself the question when choosing, which project has a specific purpose which is needed by companies and will this platform also be used by those companies?
Hello friends, I'm new to the world of altcoins
I see lately a lot of coins exploding by thousands of percent
What I need to know before having the explosion
What questions need to be asked to know that this is going to be the next explosion
Thank you so much everyone
I believe the first question you need to ask yourself as a new investor is, I see lately a lot of coins exploding by thousands of percent
What I need to know before having the explosion
What questions need to be asked to know that this is going to be the next explosion
Thank you so much everyone
1) Why so many altcoins in the market?
2) Why did some altcoin quench off the market at some point?
The answer is 98.9% of all altcoin are not advisable when it comes to investment because they are pump and dump coin so the coins you said that exploded are probably hyped thats the reason why people said altcoin are highly manipulated.
But if you like to invest in new coin, I will advice you go for those that are already listed on big exchange like Binance, kucoin etc, coin with good historical data, experience team and invest in the coin when the market is full of panic.
Hello friends, I'm new to the world of altcoins
I see lately a lot of coins exploding by thousands of percent
What I need to know before having the explosion
What questions need to be asked to know that this is going to be the next explosion
Thank you so much everyone
I see lately a lot of coins exploding by thousands of percent
What I need to know before having the explosion
What questions need to be asked to know that this is going to be the next explosion
Thank you so much everyone
It's impossible to predict what cryptocurrencies will shoot off like a rocket, as we see with Dogecoin - it's currently part of a craze mainly driven by tweets by Elon Musk. While it has many more units in circulation than Bitcoin, I see it accepted for actual useful transactions in very few places, this makes it much more gimmicky and a pure speculative gamble. There are different ways you can approach this - last Saturday if you were paying attention, followed the news and saw Elon - who caused previous spikes in Dogecoin - was going to hit a prime time slot in USA tv, then it would be a fairly solid bet that there would be another spike. You could have got in, taken 10-30% profit and gotten out for easy cash, but you never know when the market will crash. Alternatively you could look for coins that have "unique selling points" and serve a particular need that is badly met by other cryptocurrency. ETH for example addresses expensive transaction fees suffered by Bitcoin users.
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Choose always top ranked altcoins. (1-20 is good at this moment). Then try to find it’s past market history. (I will not suggest the new projects). Try to read there all social media and ann threads to see how they are active for Marketing their project.
Try to follow the charts. It is important to enter at a good position. The choose something what you thin better and hold it till enough profit.
Risk: Altcoins is very risky. If you have not much patience you should go forward with altcoins.
Funny suggestions : Try to find a project which has a background like Elon musk or Bil gates 😀😀. Most provably those coin able to give you more than 100x profit like DOGE . Lol
Try to follow the charts. It is important to enter at a good position. The choose something what you thin better and hold it till enough profit.
Risk: Altcoins is very risky. If you have not much patience you should go forward with altcoins.
Funny suggestions : Try to find a project which has a background like Elon musk or Bil gates 😀😀. Most provably those coin able to give you more than 100x profit like DOGE . Lol
Just be careful when you are wondering to enter altcoin markets. It's because there are a lot of shitcoin exist in the alt market which is risky to invest on. At first, you have to look at how the potential project is and who is behind the project. The core team either active or inactive and is developing its roadmap or not. I have remembered correctly once a invest in a shitcoin and the team disappeared after a few days and I lost a lot. You need to learn more upon entering on altcoin market and research more. Make sure there active strong community behind an altcoin where you are gonna invest.
Many newbies are starting their crypto adventures with small projects that have high risks today because they believe they are spending less money on something that will probably become bigger in weeks, I newbie I knew went ahead to invest on safemoon after advising him to buy top 20 altcoins, my advice is invest only what you can afford to lose
It doesn't matter what they hype surrounding a coin might be - You should always check that a coin has a dev team, is listed on two or more exchanges, has an android wallet as well as a PC wallet, an [ANN] thread here (and a website elsewhere). A steady moving block-chain that isn't succeptable to whales coiming along and mining the death out of a coin. (Little or no pre-mine).
Avoid ICO's / IPO / anything else where there is a "pre-sale" - Pre-sale = Pre-mine = Get rich quick for the Devs who will dump their bags and run.
Avoid ICO's / IPO / anything else where there is a "pre-sale" - Pre-sale = Pre-mine = Get rich quick for the Devs who will dump their bags and run.
Since you write that you know little about cryptocurrencies, nevertheless, you have a clear desire to invest your money in those projects that guarantee a profit, ask yourself one question first: How rich am I to get used to losing my money? Because cryptocurrency is unpredictable, and without any experience, you will not have a win.
The second question sounds like this: How much time am I willing to spend to understand all the aspects of investing, trading and, in general, how much time am I willing to devote to studying? As a result, if you are not ready to learn, then losses are inevitable. What is more important to you? Constant failure, or diligent reading, education, and only then meaningful investment.
After all, you will not argue with the fact that losing money is much easier than earning it.
The second question sounds like this: How much time am I willing to spend to understand all the aspects of investing, trading and, in general, how much time am I willing to devote to studying? As a result, if you are not ready to learn, then losses are inevitable. What is more important to you? Constant failure, or diligent reading, education, and only then meaningful investment.
After all, you will not argue with the fact that losing money is much easier than earning it.
You should check new cryptocurrency projects when they are launched, monitor news and tweets, follow some analysts and recommendations channels, as promoting any cryptocurrency contributes significantly to raising its price.
This is typical newbie thinking. They are attracted by the unnatural rise of a project
based on "when lambo" get rich quick, pump n dump movements.
There are over 8000 coins with very little behind them, its Dogecoin and Polkadot
now and in 6 to 12 months it will be something different.
A lot of it is fueled by Youtube influencers using their audience to help themselves.
Just type "altcoins to buy now" into Youtube and you will be enlightened
Forget about Altcoins, and focus on the big flashing orange BTC symbol in the room......
If you are patient enough you will be rewarded
based on "when lambo" get rich quick, pump n dump movements.
There are over 8000 coins with very little behind them, its Dogecoin and Polkadot
now and in 6 to 12 months it will be something different.
A lot of it is fueled by Youtube influencers using their audience to help themselves.
Just type "altcoins to buy now" into Youtube and you will be enlightened
Forget about Altcoins, and focus on the big flashing orange BTC symbol in the room......
If you are patient enough you will be rewarded
You shouldn't just look at the aftermath and imagine the possible profits you could have made. You should look at the whole picture and also imagine all the money that you could have lost.
When you see an altcoin go up 1000% in a short time you should know that it is not natural, it is a fake rise that is known as pump and dump but as you can see the name has 2 parts, it is not just pump it is a pump AND a dump. That coin that went up 1000% will also be dumped equally to go back down and in most case seven lower than the price they started at.
It is extremely hard to make profit from pump and dumps because they are unpredictable. At any moment the manipulators could choose any shitcoin to pump it and at any moment the pump can run out of steam and start being dumped. Sometimes the dumps are very catastrophic that you can't even react to sell before you are at a big loss.
When you see an altcoin go up 1000% in a short time you should know that it is not natural, it is a fake rise that is known as pump and dump but as you can see the name has 2 parts, it is not just pump it is a pump AND a dump. That coin that went up 1000% will also be dumped equally to go back down and in most case seven lower than the price they started at.
It is extremely hard to make profit from pump and dumps because they are unpredictable. At any moment the manipulators could choose any shitcoin to pump it and at any moment the pump can run out of steam and start being dumped. Sometimes the dumps are very catastrophic that you can't even react to sell before you are at a big loss.
No one can say that, some are outright p&d, if you are chasing pumps you will get burned. Try to find coins with good fundamentals, teams with experience, bringing something good on the table and you might just get lucky.
Find good coins with fundamentals and team experience are not enough. Investors after that have to be patient and confident with their investment choices.If they give up, lose patience because their chosen coins are not rising while many shit coins (that can be worse than their chosen coins) rise a lot, they will exit with draw, loses and jump to shit coins. They will end with losses in shit coins. It is hard to believe or accept that after they jump to shit coins, end with serious loses, their past chosen coins (from good fundamentals) begin to pump considerably.
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