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How to Pick a Cryptocurrency to Invest in (5 Steps)

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How to Choose the Right Cryptocurrency to Invest by following 5 Steps/Rules. What cryptoccurency to invest to? What altcoin to buy? Rule #1: Read the whitepaper of the coin you are about to invest. Not only ICO’s have whitepapers, every signle coin out there has a whitepaper that explains what they are aiming to do and how and when they plan to execute it. It is essential to check the problem they set out to solve, the solution they have come up with, the team behind the product, and their roadmap to see in which stage they are at the moment. All those are the basics that you need to know before you invest in any cryptocurrency. Rule #2 Check the circulating supply of the coin and its price, or on other words the cryptocurency’s market capitalization. Be carefull on your calculations because some coins have partially circulating coins and not the full amount is tradable Rule #3 Coin liquidity and volume Check the trading volume of a coin on the last 24 hours, looking at coinmarket.com is xpressed in USC and BTC. The higher 24h volume reflects a more established coin with a solid base, at least one functioning exchange (where the volume comes from) and perceived value by the trading community. Rule #4 It is extremely important that you check developers activity. The truth is – anyone who knows how to code can design their own cryptocurrency. And that, unfortunately, comes with a lot of scams. The majority of successful, or promising, coins are announced on forums and through a public software repository such as GitHub. Rule #5 Last but not least check the social presence of the cryptocurrency. It is extremely importand that the cryptocurrency you are looking to invest for long or short term to have a good base of supporters. Look at the social media, but don’t be fooled by facebook and twitter numbers, check the conversation about the cryptoccurency on reddit, or Bitcointalk. There you can find the true community behind a coin and to see if it has a strong support. A coin with strong support has way more chances on succeeding in the market.
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Text Comments (19)
settle me (5 days ago)
great work sir , more wisdom
80% for investing and 20% for day trading. Why 80% and 20%? What made you decide on that? Just curious, because I'm new to all of this.
The Cryptoniac (28 days ago)
Because like any other investment it needs time to pay off. So 80% is money on the side for the long run, while a 20% is money that I can play around with and strengthen both my long-term and current play money
Aquarius Thompson (2 months ago)
Great video and tips. Much love and thank you for the info
The Cryptoniac (1 month ago)
Thank you for watching
Ryan Schenk (6 months ago)
While I have heard much of this before, your explanation is easy to follow and very approachable and you give really clear steps on how anyone can get started right away. Thank you for contributing to the community! Liked and subscribed! :)
The Cryptoniac (6 months ago)
Thank you for watching Ryan, please feel free to ask any questions you may have
dashadow231 (6 months ago)
Guy Eudai (7 months ago)
Thank you for a stable set of steps when looking into investing in alt-coins. Automatic Sub/Like
The Cryptoniac (7 months ago)
Thanks mate , I am glad that I could help a bit 👍
Shweta Mehra (7 months ago)
What are your views on Credits and AML Bitcoin?
Shweta Mehra (7 months ago)
Thank you, much appreciated!
The Cryptoniac (7 months ago)
I did a review On AML Bitcoin you can check it out :)
Shweta Mehra (7 months ago)
Yes, Credits seems to be somewhat similar to Ripple with the main value proposition being ability to handle huge volume of transactions in a speedily manner. AML Bitcoin is the first AML compliant coin as per the founders. Let me know on what you think about them if you do investigate :)
The Cryptoniac (7 months ago)
Have ya check them yet to be honest I will need to do some research
DCO CRYPTO (7 months ago)
No corrections from here. Great work 🚀🌛
TrunXo4 (7 months ago)
Even myetherwallet isnt really a wallet :) good videos tho ;)
The Cryptoniac (7 months ago)
True but it’s easy to use with ether based tokens
Crypto Majic (7 months ago)
Keep them coming, good work !
The Cryptoniac (7 months ago)
I ll try my best to keep it up

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