Here is a research I made about ways to find recently born cryptocurrency assets that have the potential to be popular. Hope it helps you and the STEEMIT community.
Before going deep into it, if you are a recent member of STEEMIT or have been here for a while, I definitely recommend you to read the post written by @teamsteem : https://steemit.com/joy/@teamsteem/welcome-to-steem a few days ago.
With this post, if you are not yet sure about the potential for STEEM and you are not a straight believer that it will go to the sky, this post can be the persuading you need today to realize its large potential, and to understand the key aspects that make STEEM and STEEMIT unique in the crypto work. I definitely recommend to read what @teamsteem is saying.
Going straight to the topic on this post about finding crypto assets before they become popular, a lot of persons are asking themselves, where can we get this quality information from? Or how to find our crypto assets before they become known and there prices go 5x, 10x, 20x, and so on. After researching, I came to the believe that "research" makes a large difference when taking decisions on investing in new cryptos.
Here is a great post I found from @dogeking : https://steemit.com/valueinvesting/@dogeking/value-investing-how-to-really-invest-in-cryptos . He gives his ideas on what to do before investing. I invote you to check it out.
Even cryptocurrencies started more or less on 2009, since January 2017 there started to be a lot of opportunities to create large earnings. When you decide to invest, research is the most important factor that our conclusions on a certain technology or token are correct.
For instance, a good research would have let us know:
1- About the alliance called the Ethereum Alliance when ETH was less than $10 USD per unit.
Take a look at what @sirwinchester mentioned about it. He believes as many of us, that it's a great initiative which definitely shows how the interest in cryptocurrencies and Blockchain technology has grown!: https://steemit.com/cryptocurrency/@sirwinchester/enterprise-ethereum-alliance-world-s-largest-open-source-blockchain-initiative-feat-microsoft-mastercard-samsung-and-more
2- We could learn that NEO when it was called antshares was related to Alibaba. This was when NEO was worth a quarter of a dollar.
Here is a great post from @sheeshkababage , which is very complete about NEO that also mentions its relation with Alibaba: https://steemit.com/neo/@sheeshkababage/neo-the-next-big-one
3- That XRP Ripple was already working with important banks on the Asia, when its value was not even 1 cent.
For @ylgv XRP is the future of baning: https://steemit.com/ripple/@ylgv/ripple-xrp-the-future-of-banking . I encourage you to check it out.
The important thing here is research and to be patient. Research is what will really add value to your investment project. Holding is important when we make a decision. This are the keys to success: research to add value, and have patience.
I recommend you to take a look what @bigsilver has to say about Value: https://steemit.com/life/@bigsilver/adding-value-to-people . You will definitely enjoy and learn reading his posts.
Only taking into account this last 6 months, if we have bought any of those cryptos, we would have made good profits today.
This events are just a little few, we have to know there is no way of having a strategy to get rich quick, or timing the market. On this journey we will have cryptocurrencies that are still not done anything yet, still stuck on the ground. But if our research was good enough, they will be doing their jump sometime in the future.
Lets make a differentiation here, between short term and long term research. The key to success is researching for the long term.
It's just as @jerrybanfield mentioned in one of his latest posts about how fast his videos get more views. In that we have to make a strategy for the long term. That the things we do when we do them with quality, they will take time to mature, and he says we don't have to expect much the first 24 hours, or days. The most views may happen a year or 2 years later. He shows lots of sample in his post. I invite you to take a look at it: https://steemit.com/steemsecrets/@jerrybanfield/most-steem-post-views-come-after-payout-11
When we are on red days for crypto, many people specially new adopters tend to think this is going down and when we are not well informed, we tend to sell when listening to Jamie Damon's talk that Bitcoin will fail.
As @jrcornel mentions in his recent post: "Instead, Jamie's harsh rhetoric is coming from what he wants to happen. What he needs to happen."
I totally agree with this in the fact he wanted Bitcoin to go down, so some days later they would buy it almost half price. And they did.
Ok, let's continue with Research. There exist several undervalued blockchain technologies (with their cryptos), that have a good amount of smart people working on it (good base), that also have very good relationships and partnerships already established.
As in the DOT COM Bubble it may happen that in the long run 90% or more of the crypto assets fail. The only way to have a more percentage of eing right in decisions is with the correct research and to keep the research while you have invested. This will help us understand better what we are going for.
To sumarize, its key to look for cryptos with:
A- Good Team/Foundation
See what @cryptographic does when choosing a crypto to invest: https://steemit.com/introducemyself/@cryptographic/hello-i-m-cryptographic-with-crypto-trading-commentaries . I definitely recomment you to follow him.
B- Showing good response from their actions, progress
C- Good partnerships
D- If already operating or connected with a firm that has experience on the same or similar area
Some people new to crypto just fail in the process because of market prices of certain cryptos. There are cryptos that suffer lots of pumps and dumps, and that is difficult to time, and can make many people loose their investment and think all crypto is like this. Just because the price of an specific assets goes up in a certain point of time does not mean it will be succesful.
For instance the case of Monaco crypto. I saw it go from $8 to $25, and then back to $10 in less than 3 or 4 days. I don't pretend to say or know Monaco will succeed or fail. It is being influenced by media and by groups of people, as well as some marketing.
Here is a good post from @beachbuminvestor about pump and dumps, how to avoid being in that trap: https://steemit.com/cryptocurrency/@beachbuminvestor/what-is-a-pump-and-dump-how-to-avoid-fomo-costing-you-money
SOME IMPORTANT THINGS TO TAKE INTO ACCOUNT
- When we get impatient, you start to doubt and probably sell short or take a loss. This happened to me personally recently about a week ago when I had some NEO, sold it at $20 when read that with the problems in China who knows what will happen, so I lost the opportunity of having NEO today at almost $40. Just a few days afterwards.
Instead of selling on this times, we should follow the ideas of people like:
@kingscrown : that sees the dips as an opportunity: https://steemit.com/bitcoin/@kingscrown/discounted-coins-again-here-is-what-to-look-at-imo
@g-dubs referring to NEO that was in a dip, a good time to buy: https://steemit.com/bitcoin/@g-dubs/neo-is-the-run-over-find-out-here I should up read this before selling it last week.
If we invest into crypto without research is like throwing it away. We need to be lucky to get profit.
If we spend more than what we can afford we will tend to be anxious, and this will not help in any way to think in cold and make the best decisions.
When we tend to buy or sell the same cryptocurrency (after our research), more than 3 times in a year, we may be likely doing something wrong. This is a mid/long term thinking, not just a few days or months. Needs to be at least a few years in my believe.
When we are not sure what to buy is because we need to make more research.
"Researching is the Key to success"
SOME THINGS TO LOOK WHEN INVESTING INTO A NEW CRYPTOCURRENCY
- Detect an asset with potential
- Looking at one that its not popular yet (having a low market cap). Sometimes the reason is that little marketing has been made.
- Analize the crypto: its team (foundation), partnerships, current products if any, clients or potential clients.
- Look into its financies, how is it doing, is it reinvesting in itself
- And other important aspects you see from them.
--
Here is another post I recently made about the Value of Tokens on Blockchain technology: https://steemit.com/steem/@gold84/the-value-of-tokens-how-they-power-different-blockchain-techonology-platforms
--
Here are more STEEMIT PERSONS that are devoted to help the STEEMIT Community to grow.
They have helped me understand blockchain, STEEMIT and the crypto world much better than my previous thoughts. Also learn how goverrnments, banks, media always try to manupilate the normal curse of things.
@d-pend, @tytran, @bigsilver, @ackza, @scandinavianlife, @hilarski, @wakeupnd, @jang, @avrdan, @eirik, and @g-dubs
To read more about what each of them are doing, you may check: https://steemit.com/steemit/@gold84/10-great-persons-adding-value-to-steemit
--
If you found this post valuable for you, and helpful for the STEEMIT community, I would appreciate you could Upvote and Resteem.
Regards,
@gold84
Hey @gold84, thanks for the mention in this post!
You have a lot of great insight and research here, nice job!
One thing to "be careful" of when investing in Crypto it to know what you are actually investing in. Is there a "real" business behind the token or is this just air?
I like to stay away from the air plays and focus on companies, some mentioned above, that are real businesses that I see have potential to be disrupters in the block-chain arena.
So really, it's investing in fundamentals.
That's not to say that you can't make money on the hype of some of the tokens, but you don't want to be the one left holding the bag when it deflates. This is what happened to many people in the dot com boom and bust.
Another point is that when you are speculating, and not just investing, use only money you can afford to lose. Don't use your rent money!! Too many people have lost everything when they don't control their risk and only risk money you can afford to lose or have take much longer to grow than expected.
There's a LOT of money to be made in Crypto, just be careful out there.
I upvote all comments and replies to all of my posts to help my fellow Steemians earn Steemit rewards and more voting power. Please do the same. :)
Upvoted and resteemed.
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@bigsilver as always great insights. Thanks for taking the time to read and comment on this post. If we add value to what we do, in this case by researching, we'll definitely end up in a good result in one way or the other. @gold84
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@gold84 yes, I agree. Sometimes it's tough to know what information you can count on; however, you seem to have that covered.
I appreciate your thoughts and input. I'll keep following and reading your posts.
All the best.
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@bigsilver , I appreciate all your feedback!
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@gold84 thank you. I appreciate yours as well.
I'm looking forward to more collaboration.
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I couldn't agree more with the fact that you can never do enough research. And also that investing in appropriate size for the long term is the second most important ingredient for average investor success. Crypto is still in its infancy. Make good picks now with speculative capital only, and hold them till you die (somewhere down the road they'll become very nice cash cows providing you with a very handsome yearly income - i.e, you'll retire early and never run out of "benefits").
But give it a good ten years first. 😎
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I totally agree with you @cryptographic thanks for your addition to the post and for this great comment as usual. @gold84
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There will be a handful of cryptos that make massive gains over the next few years but probably many more that head to zero.
I'm probably not going to be able to correctly predict which ones will be magic.
But I'm happy that I'm invested in this space before it goes mainstream. A bit of Bitcoin, a smidge of Litecoin, and as much Steem as I can get my hands on. Maybe that's not the recipe for maximum profit but I think it will serve me well.
That, and stacking some silver. 😉
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I could not agree more with you @preparedwombat . Will continue reading your posts and follow you. @gold84
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This is a post that I wish I could have written. I have been doing basically the same thing but I did not have the discipline nor the diligence to put all this into this post. Great post.
I think NEO still has a lot of upside potential. I particularly like the fact that you earn GAS tokens for holding NEO in Neon Wallet. In fact I cashed out half my ethereum holdings to put on NEO long term.
I actually get excited whenever an authority figure starts badmouthing Bitcoin because that means "crypto sale" is coming soon. But you have to know which crypto to buy to maximize your trading profits. In fact, I only trade what I believe in.
I have a painful story from the dotcom era that I've been debating on whether or not I should share with the Steemit community. I have not been active with Steemit in the last week or so due to other commitments as well as my increased workload in my job, but after going back to the platform and reading some posts, I realize that it is my duty to share that story to the Steemit community and I shouldn't be selfish thinking about the painful memory it may bring back. After all, I learned from it and others should too.
Thank you for writing this post.
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@tytran I really appreciate your elaborated comment. My personal thoughts are that you should write about your experience in the dotcom bubble, this will be of much help to the STEEMIT community and people who find your writing in Google. It will definitely help people learn from any mistakes and any positive aspects you will mention. In several comments some time ago I remember you talking about your story in the dotcom bubble, and I look forward to know more aspects and details. Once you post the story please let me know, so I can learn from it too.
By the way here is the latest post I made today, and I think you have a lot to add or comment on it:
Looking forward to your thoughts. https://steemit.com/steem/@gold84/7-great-reasons-why-we-should-buy-at-least-100-or-1000-steem-today-and-power-up
I really appreciate the support for the SDBs you sent yesterday. That wasn't necessary. With your upvotes, if you like the posts I am doing, it is a sign I am going in the right direction.
Regards, @gold84
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@OriginalWorks
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Quite an informartive article. There are many new cryptocurrencies in the market and I know many people are expecting to make a kill with at least one of them. But as you said thorough research is needed. Of more importance is the VALUE its going to add to the current situation.
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Thanks for commenting @wameyo
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Good and informative article, thanks. One tip that I personally can't emphasize and share often enough:
It is not too much about team, project or communication. The MAIN thing is hype in this market. Try to find coins which have news coming up where people get excited for before they are made widely public. It is difficult but can definitely be worth the extensive research.
Another difficult decision to make is then if you want to hold or "sell the news". Often the price takes quite a significant drop once the news are actually out / the hype is over. But on the other hand the news might be big and the price surge! It could be a good idea to take profits at this stage and then "gamble" with whatever you have left in the game. Good luck!
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Hype is a gamble. While team, concept, and functionality may not always win, in the field of investments, they have the best shot.. If you have team AND hype, its to the moon. If all you have is hype, you'll never know when to get out before the crash. Just my opinion..
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Very true. The trick is to predict the hype, basically to be the first one before the hype starts. And that is often a pure gamble, I agree
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@songminer I agree with you. Thanks for sharing your ideas. Upvoted your comment. @gold84
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@schwmm thanks for your comment and suggestions. @gold84
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@songminer I agree with you. Thanks for sharing your ideas. Upvoted your comment. @gold84
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like steem is getting hyped at the moment :)
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It applies more or less to all coins and tokens. Just the bigger ones are slower moving than small coins with small market caps & volume
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This post has received a 10.99 % upvote from @khoa thanks to: @gold84.--------------------------------------- SEND ANY AMOUNT FOR AN UPVOTE
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@gold84 got you a $8.58 (4.0%) @minnowbooster upgoat, nice! (Image: pixabay.com)
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The @OriginalWorks bot has determined this post by @gold84 to be original material and upvoted it!
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