RE: Musing Posts

You are viewing a single comment's thread from:

Musing Posts

in musing-threads •  6 years ago 

One major factor you need to consider when investing in any crypto is its real life application. Does the crypto solve any problem that is of economic value? investing in crypto is very risky and you can make huge gain in your investment decision is right. But you can also make a great loss if you invest in the wrong crypto.

Therefore, you have to know the real life application of such crypto and decipher if its something that is in demand. Another very important thing you have to look into is the credibility of the project initiator. Who are those behind the project? Are they credible? Will they stick to their roadmap? Etc. How credible and serious the crypto team is about ensuring that the project is a success is worth considering. Some crypto projects are designed to make the initiator rich, such type of project should be avoided because there's a greater chance that you would lose your investment should you invest in such crypto.

The trading volume of such crypto is also another factor. Crypto with high daily trading volume implies that a lot of investors have confidence in such crypto and they are stalking their money on it. Etc.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!