What is the main function of your crypto?The main thing you should know about your coin is how it operates. Is it considered blockchain, or it is block lattice or tangle etc...? Does it function to utilize smart contracts, a private store of value, an enterprise solution etc…?
Is your coin vulnerable to a 51% attack?Is it possible to double spend on the blockchain? Can the ledger be fooled? Is it possible for miner’ to subvert the system? After all, if it is possible to double spend why not just invest in a bank (Nope).
What type of algorithm does your coin use?X11, Scrypt, SHA-256, Ethash etc…. What is the difference between each one and what are they used for? What consensus algorithms is utilized? What types of algorithms does your coin utilize and what are the various functions? These are all important things you should know about the ever evolving list of algorithms leading the market.
Some offer usually at least one of the wallets below however, if offered, a paper wallet is most likely the safest choice when used properly.
-Desktop wallet-Mobile wallet
-Hardware Wallet
When is your coins mainnet release?The second half of 2018 will be flooded with coins releasing their mainnet. Many new coins are prepared to challenge the big cap contenders this year. When coins release their mainnet, it will be time to sink or swim and many will drown fresh out of the gate. Pay attention to whether or not the blockchain is secure and if transactions are flowing smoothly.
Is it migrating from ethereum?Many coins will be migrating from the ethereum blockchain and most major exchanges will support the migration, so check with your exchange to see when their migration will begin and end before transferring coins or risk losing them all together.
Will the mainnet source code be released on Github?Transparency is an optimal condition if the market permits, and displaying work for all to see shows that there is nothing to hide. Also, showing followers how progress is made alongside announcements will provide clarity as whether the ultimate goals of the project are achievable. It is also important to keep in mind that timing is everything and this may not be the best strategy for every project.
Coins such as Neo, Vechain, Odyssey Coin and many others provide an opportunity to stake your coin for a period of time in a wallet in return for rewards in associated staking coins such as Gas, Thor Power and Ocpay.
When is a good time to take profits? How are support and resistance lines identified? How should patterns be identified? What are all of the classical patterns? These questions and more can be answered by reading up on classical charting by your favorite author.
Bitcoin dominance, Google trends, market capitalization, and correlation to the USD are just a few of the factors one should take into account when analyzing the market trend of their favorite coin. It is important to get a broad perspective on the blockchain market as well as account for other factors outside of the market.
Big name corporations are making important partnerships with blockchain projects in their early stage of development. IBM, Sony, Line and bitorrent have all made partnerships getting in on the ground floor of budding projects. The list of major corporations and institutions partnering with projects is growing every day. Keeping an eye on new executives projects have acquired and where they have worked in the past can often implicate future partnerships. Companies with big capital can promote big movers.
How many developers are working on the project? How often do they post on github? What programming languages are their strong suit? Where did they get their education? What companies have they worked for in the past? What apps, dapps, or protocols have they developed in the past? Getting to know the developers behind a projects is invaluable to understanding whether or not the goals of the project are achievable.
Is your local government poised to ban cryptocurrency all together? How much of an influence does cryptocurrency have in compared to the native currency of the market? How much money are banks investing in the current market? What institutional names have moved on to advise on blockchain projects and what are those projects doing? Institutional influence in the market can be a key indicator.
