I don't have IT knowledge, so it is hard to understand the technical side of cryptocurrency. So I just try to learn about the business side of the coin. It is important to check their website, check their team ( who they are and their business background), whitepaper ( yes! read their whitepaper, their mission and their plans for the future). You may invest because everyone is investing but during the hard times would you stay with the coin? or sell it for a loss? For example after hitting all time high TRON went back to $0.04 ( some people sold their TRON for a loss). Well, those who understood the project kept their TRON. You don't lose money until you sell it! I also check their social media to make sure their business team is active, if they have partnership announcements, and if they have followers. It is important to research before putting your money into a coin. ( cryptocurrency is a risky investment minimize your risk by investing in something with more reputation.) I check their historical data because I want to see if the price I'm buying the coin is low or high, by checking the price history it gives me an idea that the coin is low or high. Another important thing to understand is their market cap and if the coin has room to grow ( if you invest in a coin with a trillion supply you may never see that coin going up in value.) I also go to youtube to check for reviews on that specific coin. There are so many ways you can research a coin. Please avoid listening to people that say You can be rich with a specific coin, I think we all know by now that there is no easy way to become rich. Be care with scams, if looks too easy it maybe a scam!
Roberta W.
