Now this coin practically does not show signs of life, but I think that it is worth looking at it and also thinking about investing if it is really promising...
It does, trust me. Now I know since I have been doing my homework in the last days, I think I made a good move by investing, I am actually thinking of buying more while I still have the chance.
I am thinking to sell most of my shit coins. They dropped 70% anyway and put it into Powerledger, BEE token, We power... or something similar that actually works and have future.
Any advice?
Everything is dropping now, even all those coins you mentioned are going down in value, what do you imply?
You definitely rushed with the choice. I think that this coin is not so promising., But you can still buy in long term, but it will take it so long to reach even 1 dollar in price.
I have to oppose you on that point,any reason you feel that the coin is not so promising. I mean they are building their own hybrid exchange whereby Dimcoin and Dim currencies will be used as a medium of exchange and they also have a limited circ. supply, i am in it for long term btw.
first of all if you are a newbie how do you get a sense of what can hurt you and what can give you returns ?
First you need to have that sense, take a look at cedric dahls video, that is titled 1000x return. You need to know many things first it's not that easy man !
You need to have guidelines on why you are investing on that kind of technology or that specefic coin .
first is what it is trying to do ? is the thing it is trying to do is significant ?
for ex: now im into (xyo network) and the thing it is trying to do is, it is the first proof of location blockchain based and the usecase for this is it can locate something all over the world which is very useful for me and can be valuable for a lot of big industries like (ecommerce where a customer can be able to locate where he's order is or a company can be able to locate where are their order stocks in realtime.)
2nd thing is it can be useful for lost items like, your car keys, your jewelries. also thieves will have a 2nd thought to steal something IF they know that something that they are going to steal is can be tracked by the police. It can also help the police when someone was kidnapped, the police can locate them faster if the person that is kidnapped wear something that is trackable by the xyonetwork like, watch, jewelry, bag, cellphone etc.
it's not finish there, you need to identify if the team behind the project is competent to deliver the plan on their roadmap. You need to know if the team specially the founder or the CEO has successfully founded and sold tech companies or alike companies before.
then you need to determine the competition, is this industry under or overserve ? or they do have competition ?
hint: if the industry is big but they have many competition, in other words over serve, its less likely to give you big returns because there's a lot of choices.
2nd hint: you need to find an industry even if it is small industry but there is no competition or they are big step ahead on the competition. That's a good clue. I wish i helped a lot of newbie here. cheers !
Okay, Your input was so informative, however, in this case, i did my digging and honestly i like what I found. What made me invest in this coin is only because what they are offering is relatively new within the crypto industry. what they are trying to do is build their own ecosystem whereby stocks and commodities will be traded with ease without any middleman, introducing stocks, commodities, securities, cryptonised assets into the blockchain.
This coin probably will grow in price, I would buy it for example for a year but it still looks too risky for me to invest.
I also think that investing in it for long-term is actually a wise idea, the project is relatively new and most components that make up their ecosystem are not functional as yet. I bought into it and I am willing to hold for a minimum of two years.
I now also began to look for promising coins that are still inexpensive but have every chance of growing in price. This is a good choice.
That is actually a wise idea, and i invested in this project since I felt like it's a good one and has the chances of gaining more popularity and recognition only because of what they are offering.
I now also began to look for promising coins that are still inexpensive but have every chance of growing in price. This is a good choice.
I would would agree with your choice of having invested on that ICO coin which is still undervalued for now and maybe for sometime this will grow potentially which could make your investment gain potential profit. However, If I will be in your case, I would rather consider investing on the existing top 20 coins which are already in the crypto market for sometime atleast we could study the price history performance before deciding in selecting a choice coin for your investment.
I will have to agree with you, however, some of the coins ranked under top 20 are expensive and not everyone afford to own a reasonable amount.
