Recently I have met many questions about how to invest in cryptocurrency market and which kind of cryptocurrency to buy. This is a question which most of us will ask when we are new to the cryptocurrency market. As is known to all, cryptocurrency market has a large price fluctuations. It is hard to predict whether the price is going to fall or rise. So I think it is better to tell others how to do rather than what to do. Just as people said: Give a man a fish and you feed him for a day, teach a man to fish and you feed him for a lifetime.
Here I would like to separate the content into five parts.
What is the project for?
1.Read the whitepaper and the official web of the project, and know what is the project going to do.
2.You can join the project’s reddit, Slack, Facebook and other forums to see if someone is operating forums normally.
3.Google the project’s name to see if there are related articles recently.
4.To find its competitors and make a compare between them: what are its advantages and disadvantages.
5.If you are good at programming, you can go to the GitHub to check the code. It will be a direct way. Some projects used to copy the code from other projects. You can judge the project by checking the code. By the way, please expose projects if you find they are copying code.
Find details about the token.
1.You need to know the total number of the token and will it increase or decrease in the future.
2.What is the distribution plan of the token, how many tokens the developers hold and how many can the miners get.
3.What can users do with the tokens and what role does the token play in the chain.
4.You have to judge if the token can be widelu used in our lives or just in the exchange.
Know the developing and marketing team
1.You need to search the main members of the team so that you can know if they have some scandals.
2.It is better to read their real resumes and know their experience.
3.You have to check the marketing team. It is important to know if they tell the progress of the project or just sell their tokens by exaggerating.
Face the risk of the project
1.Are the team prepared to face the difficult problems while developing.
2.Will the project meet people’s demand either in lives or working.
3.If the price falls rapidly, can they keep it from falling.
What is your target for this investment.
1.How much money do you want to earn through this investment
2.If the price falls to an unexpected range, can you afford to lose.
These are my personal feelings about how to invest in cryptocurrency market. You may feel nervous before the investment and regret after a failed investment. These are formal react, many people will feel the same. You need more practise and when you are familiar with the cryptocurrency market, you will be more calm. The theory I talked here just help you to build your own trading system. Conditions will change in the real market and you should learn to think by your own.
Do not rush and invest only what you can afford to lose.
At the end, welcome to know more about our blockchain project: Ulord, which aims to create a new generation of digital resource interaction platform. We welcome developers to build Dapps based on UlordChain and blockchain fans to share every opinion with us.
You can find us on:
Telegram: https://t.me/ulordone
Facebook: https://www.facebook.com/Ulord-225365864705246/
Twitter: https://twitter.com/UlordChain
Web: https://www.ulord.one/
Or you can join me at Facebook group (Ulord), we can have a easy talk here.
Waiting for you.