Cryptocurrency isn’t something you can just fall into. They’re not going to make it easy for you. Investing means doing your research, due diligence and reading whitepapers etc. The research is long and tedious. That’s why I’ve got you covered. Once you know what to research, it’s more straightforward from there.
You must understand and believe in the team that sits behind the crypto you are investing in. We find most teams are from the same company or start-up, but it’s imperative that you research who the hell they are and what their background and experience are. Are they credible? Would you trust them with your family? Because believe me, if you’re investing, you need to. This is your future wealth. Play to win.
Too often, businesses jump on shiny new technology and try to develop reasons to use it. Wrong. You have to come at it from the other angle. What real-world problem are they solving? Why is blockchain technology the right approach? Always have this in the back of your mind when doing your research. Every team should publish whitepapers and a roadmap on what it is they are setting out to achieve - find them. Read them. Understand them.
You need to look for the 2% of coins that solve a real-world problem and have actual usability. The ones that bring something new to the table.
What does it cost to invest in crypto? That’s up to you. There is no minimum amount required for investing in crypto however most platforms charge fees for transferring, buying, and selling, so if your investment is insignificant, this could be harmed by the fees. Keep this in mind.
One thing is for sure - aim to get in below the all-time high. When people are scared, that’s when to buy. We don’t buy when everyone else buys, and neither should you. Be smart.
Who else are they working with? Look deeper into the company and its partnerships to figure out how promising their solution really is and, therefore, what the value of its cryptocurrency is. Does the partner have credibility in crypto? What are they adding to the project? What are the terms of the partnership based on? All of the answers you uncover here will either build confidence or shatter it. Either way, you need to know.
Finally, longevity. How possible is it that the crypto will survive? What happens if future regulations come into play - will it stand the test of time? To determine this, you should be researching the history of the project. What was their roadmap, and how are they meeting their goals? This is so important as it’s the team that is responsible for the value of the crypto. If the solution their building doesn’t turn out to be what they said it would, the value will cripple. The amount that the team communicates on their plans and progress gives a good indicator of whether or not this project will win.
You have the tools and the mindset to make this work; you just need to look in the right places and seek expert opinions. Find all of the information you can: scour the internet, watch the videos, do the research.
Let’s make waves. See you on the other side.