Investing in Cryptos is Hard
That is why I made this guide on how I evaluate the different cryptocurrencies I am thinking of investing in, and most importantly how to seperate the good projects from the bad.
Without any further ado, here are the top 10 things I look for when investing in cryptocurrency.
1. Value Proposition
What is it? Why is it important?
2. Organization / Team
Are they capable of the project? Are they proud of their work?
3. Roadmap / Development Progress
Are they making any reasonable progress toward completing the project?
4. Coin Value
Is the coin actually used? Is there a fixed supply?
5. Competition
Are they the first people to work on this type of project? Are they the market leader?
6. Price (vs. Potential)
How are they priced in the market?
7. Community
How large is the community? How knowledgable is the community? What is the community's mindset?
8. Reputation
How do people think of the team and project?
9. Partnerships
Do other people in the blockchain industry trust this team?
10. Risk
How risky is the project?
If you want to see more about my strategy, a case study for one coin, or just find out more about me, check out the video below:
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do you advice me to invest in bytecoin or xrp ?
Can't give advice, do your own research :)