How to tell if a Crypto Currency has a potential.

in #cryptocurrency7 years ago

During the last year's Bitcoin run, more and more people are trying to take the "last train" to getting rich. We have all read stories and watched youtube videos on crypto currencies. All with different opinions on which altcoin will be "Going To The Moon". What exactly should we be looking in a crypto?

  • The idea behind it and the team. It is important to have a great team, that works on something new and exciting.
    Smart Contracts, Scalability, proof of stake etc. are things that are innovative and able to solve some of the traditional
    issues.

  • Marketing. They need to be popular. With the Crypto Boom that 2017 has brought, the masses of people has to be
    aware of the news. Crypto is not only for geeks anymore.

  • Circulating supply / maximum mine-able supply and Market Capitalization. This is another important aspect to look at. There are coins that are all pre-mined, others that have no limit and those with max supply. The max supply matters. If you are having A with 30 000 000 000 vs B with 3 000 000 it is logical that the price per unit of A will likely not be higher than the one of B. The total Crypto Market Cap. will just not allow it if both are having big interest to them.

  • Steady trend. This is another important thing to look at.

I hope this helps your decision in what crypto to invest. And remember - never get scared by a downtrend. Speculations are always going to be there. Don't buy when green and don't sell on red ;)

Sort:  

Congratulations @angelinoff! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

You got a First Reply

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

Coin Marketplace

STEEM 0.25
TRX 0.19
JST 0.035
BTC 92365.70
ETH 3324.40
USDT 1.00
SBD 3.79