First of all Merry Christmas to you all.
The one question I get asked repeatedly is.
How do you know which currencies to invest in?
That is probably the hardest question I find to give a short informative answer too.
Most of the currencies I invest in are ones I find cool, interesting and inventive with world application.
When I see a new project that fulfills that basic criteria.
I then look at the white paper.
The white paper cover the technology and its intended uses as well as its road map for the future.
Then I look at the metric data.
Metrics is the term used for prices, market cap, coin circulation, Max supply, etc.
Metrics is after the initial concept the most invaluable information.
But although there are ideal quantities and values I look for in each of those I use market knowledge to decide if say its way outside the ideal range, whether it can overcome any obstacles that they would normally bring.
I think the best advice I can give is observe the market, get to know the market , watch the top 50 coins and understand there market place. Every coin has a maximum value its being able to evaluate and predict that value.
That's the key to trading.
At the end of the day its far better to undervalue rather than over value.
Another criteria I look at is I multiply the buy price by ten. If its not going to make a ten times gain its not an investment I would personally be interested in.
The other thing i consider is can I get a ten times return in 12 months.
If its ticks all those boxes then I invest in that project but getting in early is the key.
Another major factor I consider is coin of the month competition on exchanges.
This is were the traders vote for a coin to be added to that exchange. It gets added to the exchange for free if it wins.
This is always a good investment purely because in order to win it has to have a huge following. A huge following equals steep price climbs. And there fore a quick profit return.
Sort: Trending