So.Many.Coins.

I started investing in cryptocurrencies about a year ago. I sound like an old fart, but "back in my day", we didn't have nearly as many coins as we do now. I mean, we have over 1200 coins now!

Some of the coins sprouting up are worthless, and you should steer clear of them, but how?

Here are my quick tips when investing in altcoins:

I use Cryptocompare daily. I always have the BTC and USD toplists open, and I monitor the top 50 coins in each. I like to research 10+ coins a day within the top 50. These are the steps I take:

Make sure they have a website

The local restaurants in my moderately-sized town have websites. So, it seems odd when a company seeking to amass several million dollars during their ICO doesn't have a website. If they don't have a website, I would stop researching right away, to be honest. If they're not going to take the time to create a website, I don't want to know about the other corners they're cutting.

Check for errors

If they do have a website, read over it. Are there any misspellings? Blatant errors? If so, this is another red flag. This makes it seem rushed, which could lead me to believe they have created their coin for the wrong reasons.

Are they just doing this for the money? When they reach their ICO goals, will they be equally as erroneous and clumsy with their resources (money) as they were with their site? Do they have any idea what they're doing?

This could also indicate a small team. Their team is so small they may not have an editor, peer-reviewer, or a qualified content writer. This isn't a good sign, either, as a small team could quickly fall behind in their development processes. Regardless of what it means, though, it's not a good sign.

Who makes up their team

If you don't see many errors, the next thing you should check is their team. Do some research on their team outside of their website:

Do they even exist? At times, you'll see a seemingly qualified team laid out before your eyes only to discover you can't seem to locate a single mentioned individual on Facebook, Twitter, or LinkedIn.

What were they involved in prior to this? Do they seem trustworthy? Ambitious?

How social are they?

Check their social media accounts. Most have their own twitter account, or at least some form of media allowing them to communicate with and make announcements to their user base. Is their social media account active? Are they updating their users often? If not, this is definitely another red flag.

Do they have a white paper, and are they adhering to it

Just about every company using an altcoin to fund their project/s has a white paper. The white paper lays out the company's mission, goals, and how the money raised will help the company meet those goals.

Not only should you read over this and check it for errors (just like you did with their website), you should also ensure the company has a timeline of when they want to reach their goals, and you should ensure they are meeting those goals when they say they will. A company haphazardly throwing a white paper together, and a company not sticking to their white paper is a serious red flag.

Last but not least

Find something that interests you! That's right. Find something that would make you proud to support and advocate for. Chances are, if you're willing to fight for it, advocate for it, and throw money at it, many others will most likely be willing to do the same.

I hope this helps some of you out when you're researching. If anyone has questions, or they need help with anything crypto-related, please let me know! If you're looking to invest in cryptocurrency, you can signup at Coinbase or Binance (both affiliate links). If you're against using affiliate links, I'm not offended in any way, and you can use the following two links: Coinbase and Binance. Both of these exchanges are my favorites, Coinbase for Bitcoin, Litecoin, and Ethereum, and Binance for several altcoins.

If this post has entertained you or helped you, please follow, upvote, resteem and/or consider buying me a virtual slice of pizza:

BTC Wallet - 1soLg1LvBeziwzV1MX1RqaCco1B413LQ8
BCH Wallet - 15uhdzZvhHEEtZhtUCdSQZcJNahvC4ZnE2
ETH Wallet - 0x9962b39345388221478901D19A5657464F542445
LTC Wallet - LSURN6E6NHC3WxGduGM1wbLAbabKR9Veks

Legal Disclaimer: This is just my input, and these are some tips that have helped me along the way. I am in no way telling anyone to invest, but if you do, please do it responsibly.