The Right Cryptocurrency for Investment Opportunity
Tips for Finding the Right Cryptocurrency Investment Opportunity Next
The rise of Bitcoin and its fantastic value increase over the last few years has led many investors to invest in cryptocurrency. Many new cryptocurrencies are circulating in the market. How to find the right and promising investment cryptocurrency next?
Bitcoin is described as the biggest investment opportunity since the dot com investment boom, crypto and blockchain projects achieve high valuations simultaneously.
Bitcoin market capitalization and some other popular cryptocurrencies (Litecoin, Ethereum, Dogecoin, etc.) are rapidly approaching $ 100 billion.
How to find the next potential investment opportunity for cryptocurrency that has the potential to increase significantly and stable?
Find ICO first
The first step is to find out which initial coin supply is coming. With sites like ICOalert, developers have a place to list their upcoming pre-sale sales and public sales.
They can also include other information such as soft-seal, purchase price, and team profile. Smart investors can use sites like this to plan investment investments, conduct research, and prepare their money to invest at the right moment.
Evaluating Investment Opportunities Cryptocurrency
The emergence of rare new ICOs will capture the attention of investors and invest in cryptocurrency, but many people will surely fail because of the absence of evaluation.
Here are some important points in evaluating a potentially good cryptocurrency for the future.
How unique is the idea?
There are millions of ways to use blockchain, and new ideas come up every day. Currently, the market is not impressed with coins that only create a “decentralized currency” model.
Bitcoin is a revolutionary idea when it was first discovered, but no wall cryptocurrency has that function.
Look for something that makes a new spin on an old concept or tries to achieve something ambitious. If you see a language that is not clear or too grandiose from a crypto project website, stay away because this may be a hoax.
Smart contracts that manage the distribution of coins have special rules, such as how many will be available, to whom, when, and whether unsold coins will be “burned” (destroyed) or not.
Typically, rare coins are related to supply, the more supply the more it gets on the open market. Find out how many coins will be sold in closed pre-sale (and what bonuses to buy at that time), targets from time to time from ICO, and more.
The most fundamental thing for anyone who invests in cryptocurrency is the expectation that the cryptocurrency is listed on the exchange. If crypto exchanges like Coinbase, Bittrex or Kraken announce plans to make a list of coins that are still in its ICO stage, this is a very good sign.
Which blockchain is built?
New ICOs must be launched from existing blockchain unless they plan to build their own blockchain. The chain of coins was constructed to determine which crypto is there to be used to participate in ICO.
A project using Ethereum blockchain will require Ether to buy the new coin. If using an obscure chain like NEO, this can give a very high value.
Who is on the team?
Look at the team composition in each of the industry’s expertise and experience. Each real project will publish short profiles of each member, their history and roles. A big team full of professionals and veterans in the field, it’s very good.
All about assets
White paper is by far the most important determinant of the seriousness of a project. It should be comprehensive, thorough, and explain the technology from the source of the coin. Other assets may include videos, blog posts and other contributions from the team.
Check the community
Finally, society is an important indicator of cryptocurrency investment. Cryptocurrency has communities collected online on websites like Reddit and Bitcoin.org.
Github is a good source too, and those who can read the code can see at a glance how well the project is programmed.
That’s the tips to catch any future investment opportunities cryptocurrency that has a bright and promising prospect.