Read the White Paper!!!
Investing should be the final step in a sequence of research. Don't buy into hype trains, crypto related or not. Research is essential to optimise your portfolio.
- Use multiple sources
- Verify your information with those sources
- Seek negative coverage of the cryptocurrency
- Investigate circulating and total supply
- Read and understand the white paper
- Explore the website
- Identify the target market (e.g. Siacoin = Cloud Storage)
- Evaluate the team, its professional diversity and size
- Consider marketing and influence
- Rate the level of social media activity and community engagement
- Investigate competitors (e.g. Siacoin v Storj) and decide on how you will diversify your risk
Happy cryptoinvesting
Twitter: https://twitter.com/CryptoLearn
Very well said. You have to investigate very well a coin if you want to enter in it.
Thanks for the feedback. Yes, research is important. Unfortunately many people are too concerned with missing out on high percentage gains to dedicate their time to it.
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