My experiences with Cryptocurrencies and how I analysed Crypto to make an investment
Hi there
My first involvement into Crypto was around 2016 when I bought 0.1 Bitcoins (unfortunately I didn't bought more). I was very skeptical and not sure what to think about this new technology and asset class. So I opened a Coinbase account and did my first transaction. At this time one Bitcoin was around 200 USD. It was more like an experiment for me.
After some time I forgot that account and didn't follow it, until a friend rememberd me and told me that the price is around 600 USD. I went back to my Coinbase account and bought some more Bitcoins. I was very excited what happens here.
After that my interesst started to rise into Cryptos.
I started to read a lot about this new technology. I absorbed every article and made a lot of researches in the internet. There were several weekends where I invested in reading articles and did some investigations.
My next trades were Ethereum, Stellar Lumens, Ripple and Litecoins. This was around March to July 2017. So I invested some more money.
Before I invested I followed my investing rules how to pick the right coins:
- Is there a platform or/and product behind
- The team (I also googled the team members)
- reading papers (white/blue paper) - what's the project about
- market cap
- investigating forums / posts
- Homepage
- Timeline
- I googled the name of the crypto
- The Blog of this crypto
- News around this
Maybe there are some more points to look at and I am also happy to get your feedback. But this are my main points to find/choose a possible investment. I am not perfect and I did also some mistakes. But how can you learn without making mistakes? ;-)
You always get better from learning of your own mistakes. And you have to take action. Because if not you will maybe miss some nice chances.
I also read a lot about ICO's there are also some very interessting projects around.
Best Wishes