It seems to be quite difficult to find a potential digital currency. With the writing below, I hope it partly helps you to find a good cryptocurrency coin in the upcoming days of 2018 in such a big market within many other coins.
To find a potential cryptocurrency for investing includes some factors below:
1. Taking a research for the group that created coin exactly.
A group of creating cryptocurrency is one of the first factors that brings trustworthiness to most investors. After the primary stage some investors are affected by FOMO psychology, a fear of missing, till now cryptocurrency investors kept their head and picked a choice with more careful than some project that they want to invest for a long-term and have a expectation that it can bring an explosive benefits like Bitcoin. The coins, which have big valuable capital is ranked in coinmarketcap now, some attached information of person/group established clearly. For examples:
+ Ripple: Chris Larsen and Jed McCaleb. Chris Larsen has learned Master of Business Administration (MBA) at a famous school named Stanford and worked as CEO of E-Loan, Jed McCaleb is such a famous programmer in America, he used to create technology which is the same level with eDonkey and Overnet and even with well-known Bitcoin exchange platform, Mt.Gox ( before selling). Afterwards Jed McCaleb growed Stellar coin after leaving Ripple in 2014.
Ethereum: Vitalik Bulletin is the founder of Ethereum, who was borned in Russia in 1994. He used to be a co-founder of Bitcoin Magazine, that sort of bitcoin is used for bitcoin users . While he was a student, he was pretty good at math and had received a international bronze medal at Information technology. Besides , he got scholarship with 100000$ from Thiel Fellowship fund. In addition, he was chose as one of the 30 people under 30 years old and 40 people under 40 years old in most parts of the world by Forbes list.
Litecoin: Charlie Lee is the founder of Litecoin, who used to work for Google within 5 years before joining in the biggest digital currency exchange platform of Coinbase in America
In general, to choose a potential cryptocurrency to invest, first up you should take a look on is experience, knowledge and prestige of the founders. A founder, who is original as a professional technologist, programmer, can lead a coin to be much more believable. Some cryptocurrency project does not attach founder’s information or vague information, that what you should keep away or just invest with a small amount of money because these community may give less trustworthy to that type of coin.
2. Let answer question: why was this coin created?
A cryptocurrency, which brings potential for investing, is created aiming for solving problem so difficult but some is not. Bitcoin is a case in point. It is a decentralized ledger and also the first useful product of Blockchain technology. Besides, IOTA is such a new technology, which is quite different from intrinsic Blockchain…These days many more digital currency like altcoins were born for particular aim but on contrary, some aims is pretty ridiculous and evidently it’s not such a good place to invest for a long-term and stable investment.
You can figure out these factors in white paper of that algorithm project.
3. Looking at where that coin is in road map
Let read the road map of cryptocurrencies that you have plan for investing, observing how far it ran and where it will go. Whether it has any experiential version, or it has any function updated?
There are so many cryptocurrencies were borned and then selling ICO to earn money, afterwards group got that money and nothing is developed or leave it kill itself. Some kind of scams by cryptocurrencies is going more viral nowadays.
If a cryptocurrency has roadmap changed constantly, or the duration is too near or too far, are also a thing one needs to consider when investing.
4. Keeping an eye on value, capital and trading volume of market.
Altcoins or shitcoins are completely pump and dump, which means that coins are pumped with its virtual price. In fact, many more cryptocurrencies have no value but it’s raised to quite highly price and because of being FOMO, many investors therefore jump in. These cryptocurrencies may lose a big value afterwards, it even has a return to the value of zero.
You’d better choose coins, which have significant capital in market and high trading volume, that aim at preventing from adjusting price, or having exchanger when you have demand for selling or buying. You do not completely invest in some coins, which have low capital and low trading volume in that your coin are probably stolen when it loses its payment.
In order to summarize this writing, I would list 4 factors that I’ve just stated to help all of you find a potential coin for investing in the next years. It includes:
1. Owning a founder group, that have prestige, knowledge, and international experience.
2. Finding some preeminent methods for one problem ( let read and understand white paper)
3. Having a clear roadmap and let adhere roadmap closely
4. Having a huge capital and high trading volume.
If you follow these four factors, honestly I think that you will be more likely to choose a potential coin in 2018
I wish you success. Good luck!
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