Crypto Academy Week 6 Homework Task For [@besticofinder] BY@azizulhassan
Hello everyone how are you all I hope that you are doing wonderful in your life today I will be doing V homework of this week this week is going to be and released soon and I wanted to do this homework a little bit nicely that's why I kept this for the last days I hope that my homework will be easy for you to understand and today we will be talking about selecting a cryptocurrency for investment will be talking about a few things that you should consider before jumping into cryptocurrency trading
The first step is that you go to coinmarketcap there you will have to spend a little bit of your time well what I do is I will go there and then I will select a few cryptocurrencies by few I mean 10 at least and then I will do my research on those and let me tell you you don't just invest and get profit in one day you will have to spend some time in my I will pick up 10 cryptocurrencies and create a watchlist and then I will monitor all of them and I won't think about any other cryptocurrencies at that time my focus will be on those 10 cryptocurrencies after that I will analyse each and every one of them then I will tell you how to analyse it I will give you an examples of how I pick cryptocurrencies for investment
for me the best thing is that I should be a little bit familiar with the coin I mean I will choose those coin which I know I little bit of like in this case I will be talking about one coin specifically that you will know no then I will tell you why I chose that coin I will suggest select only those coin which you of see in news or your friends talk about all aspects those coins in the 10 watch list
First I will go to coinmarketcap and I will select a cryptocurrency for investment and let me tell you don't be hurry this process should not be done in just a few minutes you should give it your good time because this is about your money if you to perform coin you can lose everything that is not good so what you do is spend your time on it try different coin and then select 10 coins out of that and create a watchlist
watchlist
after doing my research I think I have got the coin that I want to invest in in that iKyber Network I choose this coin because last time I was researching for something else I got to know a little bit about this and I thought it will be a good thing because I won't have to do much struggle
Now the second step for me is that we have groups on Telegram and discard Where I have some friends they are quite old in cryptocurrencies so they have no more informations about this world of trading just to clear myself I would Talk to them about the coin should I invest or not they will guide me through that I mean this is not a necessary step but I do it so that's why I am sharing with you guys as well because again I will say that it's about your money and you should clear your mind from each and every side there should be no second thoughts so we have a group on Telegram where there are so many people and I was just post and ask them if I can invest in this was not what are their thought and their tell me their thoughts and after that I will go for that
Kyber Network Basic informatio
ranking of this coin 105
Market Cap $614,674,525
Volume / Market Cap $0.2467
Circulating Supply $205,051,204 KNC
Volume $150,540,142
1 year lowest $0,365295
1 year highest $3,00
What is kyber network
This is a decentralized exchange protocol which gives you unchain liquidity let me explain in some simple words It gives the ability to exchange the erc 20 tokens with each other On ethereum blockchain in one transaction They use the smart contracts kyber Provide a single interface for the best available to token
Social reach
The kyber the network is the most active project in the Ethereum blockchain Because they are socially connected with each other and when it comes to the Global metre they are on the top They've meet multiple developers in the different regions of the world They have covered the whole world in the sense of Europe America and Asia And they are sponsoring some big game online Virtually so I would say their social reaches quite good they are working on it
What are my thoughts on it
I think that defi it is growing each and every day and when it comes to that kyber network is the backbone of decentralized finance so every invest in this coin I am sure and long-term it will benefit us more than we can think of and I think this is a perfect example of a good investment if you look at the graph is going up and if you look at the all time low it was low but it stayed there for a very little time in since then it's growing up which is a great deal
Hello @azizulhassan ,
Thank you for submitting homework task 6 ! You have done a fundamental analysis on Kyber Network. Have discussed well with facts supporting your selection. nice work [5]
Thank you
thank you so reviewing my homework sir