How do you know which coin to invest in?

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MisterBigglesworth

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So a total noob question, I know. I chose my first coin/token, CVC, because what they said on their website is something I believe is required now and more so in the future. In short, hopefully the go to place for identity verification one day.

Is this the right way to approach these offerings? How do you guys determine who to invest in and how much to invest in? A lot of these newer coins and some popular coins in the top 10...I dont really get what they are about (some seem so similar to each other - tough to differentiate their offerings)...but people invest in them as they believe (it seems) it will be the next big thing...in terms of what they are offering?
 
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i look at the long term if there is an upwards trend get in (look since beginning of coin). Also if it solves a real problem has a solid developer behind it or has businesses invested its a good sign. but there is no sure fire way just research and buy what you believe in. Short term you can buy a sh*tcoin but that is super risky and you will lose 90 percent of the time.
 
I ask myself: "Thor, do you see yourself using this in your own life?"

If I answer yes, then I buy it.
 
Do your own legwork - that means more than reading threads. Look for innovation and practical application. It also entails more than just looking at the website of the coin in question, more specifically seeking the coin's potential competition and seeing what's going on there.
There are numerous other things to consider, like is there a working product, coin distribution - was there a pre-mine, or are there air-drops, what is the founder/developer hold, proof of stake or work etc.

You should also know for yourself what you are in for. Do you intend to one day spend crypto direct, or convert back to fiat? Do you want to build a portfolio and forget about it, or actively manage it? How much time of your day do you want to spend anticipating and investigating graphs and candles? This is an aspect that kind of sneaked up on me - the amount of time spent fiddling with wallets and exchanges and forums and on and on. I got other **** going on.

You might want to decide a portion is long-term "investing" and another is for short-term "trading" gain, and in those two split into currency vs platform vs other (e.g. BTC vs ETH vs FCT). Think about what makes sense to make into the larger splits and how many of each you want to back. Pile in whatever your finances allow, as they allow, to where you see most growth potential. A lot of people seem to make the mistake that a coin like btc is "too expensive" and then sit with 100s or 1000s of ****coin without really addressing how the coin can realistically rise in value. Also remember the entire alt market generally is at the mercy of btc.

Safest play is probably a spread of selected top 10-20 coins. Or you can play the slots with pump & dump flavour-of-the-day up-and-comers. Ultimately, don't throw in more than you can afford to lose. Good luck.
 
Well..... something I found is that whenever the big Korean exchanges get access to a new coin, they pump it like mad.

Weekend example - Bitcoin Cash
Now - Monero / Ripple.

If you want to take a chance with a pump and dump that is. I got lucky with Ripple coz i bought some at 0.15 and now its almost double.
 
Get in at the start of a pump

I wouldn't recommend this though

*edit*
I follow the hype
 
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I made a good call with Lisk early this morning... rode the wave, still am.
 
phly said:
I made a good call with Lisk early this morning... rode the wave, still am.
Click to expand...

same here. complete n00b to crypto but did a bit of reading and got some lisk about 2 weeks back. Really good move at the moment.
 
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