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Topic: What questions should I ask myself before investing in a cryptocurrency? - page 2. (Read 708 times)

full member
Activity: 234
Merit: 100
It's turtles all the way down!
You do not have to invest more than you can lose. Also you should analyze the project in which you want to invest - team, problems that the project solves, project competitors and more

This is a really good point of advice. I personally look at the team, how much work they've put in so far, what their roadmap looks like, how the community feels about them, and their trading volume. Some of these are more important than the others (I'd say that I definitely weigh a lot how much the community sees them, given that this is a huge world where reputation is important. If a dev team is willing to work to make sure that they are doing what's best for the community then they should have a positive view by the community. Of course, if it's random hate that I can't see where it's coming from or unverified claims, then this means less).

Honestly, it's up to you what you think is more important. For example, do you think that you need to fully be behind what the dev team has in mind for what the coin brings to the table? Do you need a comprehensive roadmap that's rigorous and will push the bounds of the coin? Do you want a reliable volume for the coin to be riding on? These are some of the questions I would ask myself.
newbie
Activity: 21
Merit: 0
You do not have to invest more than you can lose. Also you should analyze the project in which you want to invest - team, problems that the project solves, project competitors and more
Is there any plan you use to analyse the project?
hero member
Activity: 672
Merit: 501
Ask yourself if you really what blockchain is and how it is useful for people, economy and so on.
Be sure to know why blockchain is a revolutionary innovation.
Then, to invest in cryptocurrencies, you have to know how they work... Before investing, have a look to the blockchain project they are creating for. (Team, code, realistic vision, development...). Every project made by a startup (new blockchain or project on existing project) should be based on a "white paper" which describes everything about the project itself. You must know what it really is and feel if it will be a success in the future. If you believe in a project than you can invest on its token.
full member
Activity: 448
Merit: 101
You do not have to invest more than you can lose. Also you should analyze the project in which you want to invest - team, problems that the project solves, project competitors and more
newbie
Activity: 21
Merit: 0
How can you tell that you are ready to become an investor in general and a cryptocurrency investor in particular?
Would be great to hear the opinion of experienced investors.
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