[Guide] How to find the next Dash

Hi Steemit Friends,

We all want to find the next Dash or cryptocurrency that will have over a 1000% growth in a short amount of time. They are very rare but can earn someone a lifetime's worth of income. In order to find them one must do research.

Questions to ask yourself about a coin:
What is the coin's purpose? Is it unique, or is it a copy of another coin?

Here is my guide that I generally follow before investing in altcoins:

Step 1: Go to Coinmarketcap.com

Get familiar with a bunch of coins. Open up new tabs for each coin you find interesting. Look at the name. Does it seem professional? Now there are some coins that have terrible names that do succeed, but, as a general rule of thumb, names are the first sign of a poor coin. You should have between 10-20 tabs open after this step.

Step 2:

Get familiar with the graphs of each coin. Do you like what you see? I can not tell you what a great graph looks like, but some have clear signs of future failures. Is it extremely volatile? Is there missing data or days where the graph does not have information on the cryptocurrency's performance? These are things to look out for.

Step 3:

Check the social media websites for each coin. Do they have a twitter? What do they post? Do they post often? Do the creators show motivation and passion for their coin? Does the page talk about the coin's monetary value (general red flag). They should focus more on the development of the coin then its monetary value. Overall do you like what you see?

Step 4:

Can you find a roadmap (an agenda) for the coin? Can you find the creators plan for the future? What have they accomplished? Do they constantly work on the coin? Are their improvements when flaws are found? If you can not find a roadmap or any information in general, move on. In general, you can find this information on Twitter.

Step 5:

Is there a community for the coin? I do not mean just reddit. Does the community just HODL, or do they contribute? If you see an active community working on the coin and contributing to the coin's GitHub page then this is a general good sign. Does the community care more about the price of the coin or its value and use? It should be the latter.

Step 6:

Where did the coin originate? What were the creator's motives? Are they different than past coins? If the ICO totally sold out the coin then you should question investing. Most successful coins started with some hype and then died down for up to and exceeding a year. But this is not always a bad sign. The history of a coin is a signal for the coin's future. Look at past successful coins. Use coinmarketcap or tradingview and zoom in on the graph. Look at the start of the coin. Look at the points right before it got popular. Do you see any trends? How bad are the fluctuations in the coin's value. What did the coin's price look right before it took off? Having an understanding of successful coin's past is helpful for considering the future for other coins.

Here is an example of a coin that succeeded: Ethereum

Here is another example of a coin that suceeeded: Dash

General Tips:
Investing is not an emotional process. Do not decide on investing in a coin based on an inkling or a feeling. Do the research. Look up Warren Buffet. Read his investing strategies. Now although he invests in stocks, the general principle behind his investing can be applied to cryptocurrencies.

Good Luck.