I just saw this write up on reddit and thought to share it here
Firstly does the coin accomplish? Is it special, or is
it the same as any other coin out there?
I'm going to share you my quick tips on
researching new coins to invest in. Researching is
key if you want to find a good coin before it's
mainstream, and is essential if you're going
longterm.
Step 1:
Go to Coinmarketcap.com
Scroll through the coins. Open ones in a new tab
that don't have a joke of a name. Some good
coins might have a terrible name, but you're
trying to do some mass-separation here and don't
have time to check them all.
Step 2:
Now that you have 10 or 15 tabs open with some
new coins, check the graphs. Do you like what you
see? I can't tell you what a "healthy" graph looks
like, but some are sketchy and if you don't trust
it (absurd spikes, missing days, total flatlines),
then simply close the tab. There's another 800
cryptos for you to see.
Step 3:
Check the Social tab
Do they have a twitter? What do they post? Are
they Active? If they're posting about their price,
that's a red flag. You want a coin posting about
their development . If you like what you see, keep
going
Step 4:
Do they have a roadmap
A roadmap is kind of like an agenda. What do they
hope to accomplish in the future? What have they
accomplished?
You can usually find a roadmap on their Twitter.
Are they constantly working on the coin, or are
the developers not very motivated? If you can't
find a roadmap at all, or any info about the
development, find a new coin. Otherwise, continue
with your research.
Step 5:
Community
Is there a community around this coin? I don't
just mean Reddit, lots of coins have their own
forum. Does the community just HODL, or do they
contribute? If you see an active community
working on the coin and contributing to the coin's
github page, this is a green flag. Is the community
talking about the price of the coin, or are they
talking about it's uses and values?
Step 6:
History
Where did this coin come from? What did they
hope to accomplish? Are they different from any
other coin?
I'm not saying ICOs are bad for a coin, but if the
ICO totally sold out the coin then you should
reconsider investing. Keep in mind, most
successful coins started with some hype and then
died down for up to and exceeding a year. This
isn't necessarily a bad sign.
History of a coin is important. Go to some
successful coins on Coinmarketcap and zoom in on
the graph. Maybe between the start of the coin
and right before it got popular. What did it look
like? How traumatizing were the falls and
crumbling values before it took off? Getting a
feel for how cryptos moved in the past may help
you in the future. I personally believe we're in a
crypto bubble but I don't believe this is the end.
There will be another era of crypto spike, the
question simply is where will you be when it
comes?
Congratulations @kingxy! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
You published your First Post
You made your First Vote
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP
By upvoting this notification, you can help all Steemit users. Learn how here!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @kingxy! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Award for the number of comments
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP
By upvoting this notification, you can help all Steemit users. Learn how here!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @kingxy! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Award for the number of upvotes
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @kingxy! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Award for the number of upvotes received
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit