How to choose cryptocurrency? btc fair value indicator 2022
How to choose cryptocurrency?
Today’s discussion is for those who are new to cryptocurrencies in general. Because those who invest in crypto currency first have little problem which coins to buy or which cryptocurrency to invest in. That is, you make the mistake of choosing the right cryptocurrency. Again, many people end up buying all the cryptocurrencies that are wrong, which later leads to a downtrend.
Knowing how to choose crypto coins to invest in cryptocurrency is very important. There are few coins that will be ready to buy after seeing the performance of the opening or two times. But later it will take nothing more than throwing all that money in the water.
So there are many things to keep in mind when choosing a cryptocurrency. Don’t rush, your little sense of humor will help you choose the best quality crypto.
So let’s share some of it with you from our little knowledge.
Things to consider when choosing a cryptocurrency
If you do ICO or IEO, that’s different. For this you can see the topic of ICO or IEO. I will discuss here the issues of choosing cryptocurrencies that are already traded on various exchange sites.
Here are a few things to look for while selecting a cryptocurrency:-
- Their progress as per the roadmap.
- Supply by Price and Circulation of Total Supply.
1. Concept :
Before choosing any cryptocurrency or cryptocurrency, it is important to look at the basic concept of the project. You will see thousands of crypto coins whose price will attract you. But because their concept is poor, not all these coins can last very long. Example: Hundreds of such coins can be given with Voice, Red Pulse, Verge.
It is a very simple matter before investing in any crypto coin. You invested in a coin that did well once or twice in its entire life. But then there is a good chance that your invested money will be wasted. Before selecting a coin, you need to check its stability or weight. So that even if the price fails for some reason, there is a strong possibility to rise again.
3. Their progress as per the roadmap:
Each cryptocurrency has a roadmap or white paper. Where, how, in what way or in what time frame their project will they try to accomplish their goal. You will see all the scam projects that have a concept in their roadmap that does not match their work. This is a road map showing people.
Again, you won’t get a road map for some projects. If you ask them, they may say we have a road map, but don’t publish it. Logic will show many reasons. Close your eyes and get away from such projects. However, stay away from any project without a goal.
4. Supply by Price and Circulation of Total Supply :
Some projects bounce back according to their popularity or merit. He jumped up and then fell. In that case, be careful in choosing such projects. Because those projects are pumped by different groups. Yes, there are many groups to increase the price.
However, you will see many projects whose price raises a lot of doubt with circulating supplies. However, in case of good projects, the issue goes to an alternative level.
If it is a good project, its popularity can easily attract you. And you have to be attracted. Because the concept and skills of heavyweight projects are enough for him.
Here many people may think that to choose a good project it is necessary to know who is behind that project. I also agree with that view. However, since I am talking about a selection of projects that have been traded on various exchanges for a long time.
If I had to discuss an ICO or IEO here, I would put the point first about who is behind the project.
However, before you choose any project you want, you can take a look at the teams for that project. This will allow you to make better decisions about any cryptocurrency you own.
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