If you want to trade crypto coins,do never forget these steps
use e.g. coinmarketcap !
Have a look at the market capitalization EVERYDAY. See how the market cap changes, the coins rise or lose. Sometimes there are small or big surprises...
Always trade only the best 30 to 40 coins, to be on the safe side (with scam etc.)
Most important: have a look at the volume (24 hours)! This is a significant factor for how much trading volume this coin has daily.
For example, a healthy relation (at the moment of writing this text):
Zcash market cap 454 million, with a volume of 21 million $ per day. You can be sure, even high amounts of this coin can be selled, no scam and a large amount of trading opportunities.
Not healthy : FunFair - 85 million market cap with a volume of 82k $! This is way too less, in relation to the market capitalization. That means there is a little buying or selling power, compared to other coins, and thus compared to safer trading opportunities.
"Volume of trade measures the total number of shares or contracts transacted for a specified security during a specified time period. It includes the total number of shares transacted between a buyer and seller during a transaction. When securities are more actively traded, their trade volume is high, and when securities are less actively traded, their trade volume is low."
http://www.investopedia.com/terms/v/volumeoftrade.asp#ixzz4lhdKYuTX
Point 2 is well intentioned but misguided. Perhaps for newbies its a good idea but overall there is MUCH profit to be made from coins from 20-50
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Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
http://www.investopedia.com/terms/v/volumeoftrade.asp
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Perfectly!
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