RE: An Easy Way To Ride The Cryptocurrency Wave
Never a bad time to invest, but choosing which to invest in is clearly a difficult choice to make.
Looking back at your analysis makes me glad I quit my masters program and dumped my tuition into crypto. It sounds crazy in hind sight, but being a structural engineer gives me a bit if an edge in terms of realizing what the education system is about.
Back on topic, I'd skim the top 25 and see which have the biggest potential to continue progressing. Those will become the least risky investments. BTC, as much as I don't like it, will continue to dominate until the nodes call it quits when power becomes to expensive and the fees will be as much as the cost to sell your gold.
LTC is becoming one of my favorites at the moment and I'm looking to make a position happen by the end of the week.
I also liked LTC - I am still on the fence! How would you advise a new investor to 'analyze potential to continue progressing' - is it an experience thing or can you recommend some info I should follow?
You're going to find a 1000 answers to that. My way is to look at people first. Who are the users of a particular coin. Then I look at the landscape, what are the users using it for? and then I look at the future, where can this become useful.
bitcoin for example, the predominate users are investors. the landscape is becoming banks and wall st. what they are using it for is a store of value. for that reason alone, I dont think btc is going anywhere anytime soon, but by that same account, it isnt going to be used for day to day transactions. you'll need something like LTC to accomplish that.
Ooohhh I like that. Thank you - that's definitely a good place to start. It seems we learn something new all the time. I need to do some homework. I appreciate you.