TOP 5 CRITERIA'S FOR YOUR CRYPTOCURRENCY INVESTMENT!!
Does it solve a problem?
One of the most important factors to decide whether your cryptocurrency has long-term potential is that does it solve or a problem that is in demand to be fixed? If people need the currency it is sure to gain a lot of attention over time and with that it's value will rise tremendously.
How unique is your coin?
Most cryptocurrencies are usually clones of another at this point in time, so the currency your investing in should be unique with a good vision and little competition as it is a fresh idea that no one is really targeting (Gap in the market). If it is unique there is huge potential for it to stand out in front of all the other coins.
Does your currency have a superstar in their team?
When investing in cryptocurrency look for a one that has a team with one very important member. For instance people often look for Vitalik Buterin when buying ICO's, as he displays a lot of power and capital for the currencies. Also, if it is being run by someone who is highly experienced the coin in much more likely to go somewhere as they will actually develop it, instead of letting the currency die.
BAT (Basic Attention Token) has the creator of Javascript and Firefox on their side, so that will tell you...
Can users earn Rewards ?
If users are able to earn a passive income or receive rewards for participating within the platform, it is always a good thing. For example, projects like Steem (A Blockchain based Social sharing network) where you are able to share content and earn money for what you publish. Users are more likely to hold onto cryptocurrencies long-term if they can earn something from it.
Does it have a good Active Community?
Having a good large active community in your chosen cryptocurrency is very important. The more people there are innovating and supporting the project, the further the currency will go as people discuss the features and benefits of the coin, thus is will gain more exposure. It will also help the currency hold it's value and increase healthily over the course of time.
Sources - 1
Very informative. What are the main technical indicators you use for entry in an alt coin? Thanks!
Thank you! The main technical indicators I use are resistance & support trends, Fibonacci retracements, RSI, MACD and moving averages. All of them working together gives you a good analysis. I have a post coming out right now, have a look I discuss some of it.
This post has received a Bellyrub and 1.04 % upvote from @bellyrub thanks to: @feri1. Send SBD to @bellyrub with a post link in the memo field to bid on the next vote, every 2.4 hours. Be sure to vote for my Pops, @zeartul, as Steem Witness Hope you enjoyed your bellyrub!