Before You Invest, What Problem Does That Crypto Solve?
Investing in crypto is a good business idea these days, but selecting the right coin to buy is still challenging many. There are so many coins out there being developed each and every day that later penetrate the crypto market. Investing wisely in some of these coins can make you earn much profits if that coin gains more value in the future.
We have seen many coin developers promising Heaven on Earth to investors. I think the developers are just too good in marketing. Some coins have failed to gain in value ever since they were launched and some coins have been around since 2014, but have failed to show positive results.
I believe coins created with a core purpose or the ones that are created to solve community problems will survive the test of time. Are they not worth investing?
Imagine holding coins that were launched in 2014 with hope that you will hit the jackpot by 2018 and the price has never rised. Let's say, you invested in a coin for $0.02 each in 2014 and now it's price dropped to$0.002, isn't that crashing? That is a loss, right? Yes.
It's well understandable that, from late January 2018, almost all coins are dropping in value compared to late 2017 prices, but still there are some coins that will not recover from the current market crash even if the prices of other coins become bullish. These are coins that do not serve any purpose in both the blockchain world and in social communities.
So, let's not try to risk our hard earned income into investing in coins without making proper research about their project.
Invest wisely!
NB:
I'm not a financial advisor. It's just my personal opinion.
Thank you!
agreed. this is the first crypto I am thinking of putting my hard earned money towards
What are the core values that gaurantee it's progress? Let me hope that coin is created for a purpose, but not just like bitcoin though it's the King of crypto. Good luck!
That is a good question to answer. I think that its system of checks and balances are very strong, albeit I don't like that people can buy rep and I hope that they fix that. Also, I like that it is based on content creation and curation. It makes for a good learning environment.
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