Choosing which Crypto
So there’s obviously no point getting this far if you don’t know which Cryptocurrencies to invest in. The market place has thousands of coins and more being added daily. So this in itself can be overwhelming when choosing which Crypto to invest in. The key is to break it down and understand that there are the Main Coins that are more established and hence more expensive to buy – Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC). The rest are known as ALT coins and there is a big bunch of them that claim to be doing many different things. Most coins begin around 2 cents/coin and the price gets driven depending on a few factors. The skill is to be able dissect the market and decide which coins you believe that is not only legitimate but also has the most potential for profit.
The first step choosing which Crypto to buy is to visit CapCoins. This site lists the top Cryptocurrencies by Market Capitalization – make this page your new best friend. Currently there are 1500+ currencies listed on there which may be daunting but try not to get overwhelmed when looking at the list and focus on a few set details.
After this you can do is look at what coins are trending, make sure to check the 24hr as well as 7d. If a coin gets your attention here then you can take a closer look at it. Once clicking on a coin it will go into detail about it. Discussing the Market Cap (MC), Circulating Supply(CS), Total Supply (TS), Charts, Markets, Social discussions, Tools and Historical Data. Here is an example of the information you get when selecting a coin:
As you can see there is some detailed information. Now start to compare coins prices, MC, CS, TS etc. Once you decide you like the attention a coin is receiving then you can click on the link Website below it. This will inform you about the Company behind the coins, learn about its ecosystem and solution the coin is solving. It is very important to understand why people will want the coin. What is it achieving? Is there potential? Also observe the Chart, I look for healthy, gradual gain on the Charts as a great sign. Seeing significant spikes/falls should definitely alert you. Once you have gained this knowledge and are confident in choosing which crypto to invest in, then you click on Market. This will display the exchanges the coins are listed on. Its at this stage you can locate where to go to buy the coins.