Factors to consider when choosing the right cryptocurrency to buy.

[Jubilee58]

As a cryptocurrency enthusiast or even as a newbie, before buying any cryptocurrency, you have to make some findings concerning the cryptocurrency you want to buy, and through proper findings, you will be able to make informed decision and invest with confidence.

Some of this factors are outlined below, and should not be taken for granted.

Tokenomics: before investing in any cryptocurrency, checking for the tokenomics is very important, as it help you to know about the supply of that cryptocurrency and the demand, as some cryptocurrency has limited supply, and others with large number of supply.

Development team: Ensure you research thoroughly about the experience and the past records of the cryptocurrency development team, because if a cryptocurrency has good development team  and good experience, it will definitely help the cryptocurrency to succeed in the cryptocurrency market.

Another thing to consider is the adoption and potential of the particular cryptocurrency, and ensure to know if that cryptocurrency has good community supporting it , as cryptocurrency with strong community has the potential to succeed with time.

Ensure the cryptocurrency you want to purchase has good regulatory compliance, because if a cryptocurrency has clear regulation, it will ensure the success of that particular cryptocurrency.

Scalability: This is an important factor to consider while investing in cryptocurrency, as a secure and scalable network is very important, and can make a cryptocurrency to be successful in the cryptocurrency market.
For example, solana that is highly scalable and can process thousands of transaction at once.

Institutional backing: for a cryptocurrency to succeed, it must have strong institutional backing, for instance cryptocurrency with the support of this reputable cryptocurrency exchanges like binance and Coinbase, can go a long way, as this exchanges can render services like staking opportunity and good trading features.

Finally, you have to consider the risk potential of the cryptocurrency, as the cryptocurrency market is very volatile and risky, so don't be ignorant of this fact.

[Merit.s]

To cut the story short, new investors shouldn't bother themselves to make research on any coin to invest in. They used only choose bitcoin and save themselves the stress and waste of time looking for the right cryptocurrency to buy because there is no one out there apart from bitcoin.

Despite all the research that you will make, you still wouldn't know the right coin to invest that will give you profits. Making profits from altcoins is luck and not by research or knowledge. Invest in bitcoin and hodli for long term.

[Donk1]

If I may say when ever it comes to alt coins I believe we will all agree that most of them are not to be trusted or to simple say are not trustworthy because basically  most of them does not actually have a  real value like Bitcoin and once  an altcoin does not have a value it called a shit coin that's why In the process of choosing any cryptocurrency / alt coins yu will find out that even if most are developed to be better than Bitcoin still the rate of Bitcoin adoption alone goes  far beyond any of them. Basically with the rise of altcoin everywhere people still see Bitcoin as the true store of value and one major thing is because of its scarcity.......
So op yeah your topic is actually good, and to me it's very knowledgeable, but if I may say when considering a cryptocurrency/ alt coin to choose as a newbie bitcoin should be the first option. That's just it....

[NurseHub]

My own perspective is that, but Bitcoin and then go to coin market cap, check the list of top 10 cryptocurrencies chose from the list and take your poison because life is about risks but calculated risk is buying bitcoin first then adding chunks of altcoins to it might help out of 5 if you take risk on them 1 will definitely help you out if all fails.

[WhoYouCantKill]

On point, if anyone wants to invest into any cryptocurrency, there is an importance for proper research. Major factors such like tokenomics, development team, adoption potential, strength of the community, clarity of regulation, scalability, and institutional assistance, all this determine the success of project. Most importantly, always assessing the risk involved, as the cryptocurrency market is volatile.
Conclusively, proper decisions secures on from any loss and improve your chances of long-term profit.

[Mate2237]

One very important point you forgot to mention is stability of the coin which is to me the most important factor to consider when attempting to buy any crypto currency. Because there are coins out there that you can't buy because in terms of stability they are not trustworthy this is why Bitcoin should always be prioritized because Bitcoin is the most stay crypto currency which has maintained stability no matter how tough the crypto space becomes.


Interns of stability you can't compare Bitcoin to altcoins because, I can tell you for free that altcoins can't be trusted because of their unstable nature they can be up there today and down the next day which has lead to investors losing money.

[Borbb]

Yes you're absolutely right as a newbie all they need to do is to make a full research of that cryptocurrency they are after to buy, reason because it may not be stabilize as the Bitcoin that's why Bitcoin is best crypto block chain and regard as the fastest way to make transactions. Many of people are being scammed today because of the kind of cryptocurrency they intend to invest on with making no research not knowing how long it will last before engaging yourself it is at risk sometimes because many crypto are not stable.

[PremiumcryptoHub]

To cut the story short, new investors shouldn't bother themselves to make research on any coin to invest in. They used only choose bitcoin and save themselves the stress and waste of time looking for the right cryptocurrency to buy because there is no one out there apart from bitcoin.

Despite all the research that you will make, you still wouldn't know the right coin to invest that will give you profits. Making profits from altcoins is luck and not by research or knowledge. Invest in bitcoin and hodli for long term.

This is the key point because new investors shouldn't bother themselves with finding the right cryptocurrency, but choosing Bitcoin can take the pressure off them. However, those who want to adopt the right strategy when choosing the right cryptocurrency to buy must understand the fundamentals of the project, the technology And community support and it is important that market trends are thoroughly researched, therefore to gain experience in this field, you must study them, which is not a way to keep yourself stress-free. So I would say that to improve long-term profit potential, Bitcoin cannot be compared to other altcoins because my idea it has technical architecture and has a distinct place in the market, even it is a sustainable currency that will give you profit on investment.

[Sammye3]

To cut the story short, new investors shouldn't bother themselves to make research on any coin to invest in. They used only choose bitcoin and save themselves the stress and waste of time looking for the right cryptocurrency to buy because there is no one out there apart from bitcoin.

Despite all the research that you will make, you still wouldn't know the right coin to invest that will give you profits. Making profits from altcoins is luck and not by research or knowledge. Invest in bitcoin and hodli for long term.

Exactly, no research made can actually determine completely the direction of any cryptocurrency and they are volatile and can defer due to sudden news or market manipulation. Investing in altcoins like you said is a high risk project because they are hyped token driven by influence from socials and have being seen to rug pull at any point and holders lose out entirely on such investment.

On the latter, people have also made profits as well from investing in altcoins but it's mostly by getting information from verified sources which might turn out bad as well or go well too. It's never assured compared to Bitcoin where we know it's definitely going back up even after a pull down as it's the best time for a buy order.

[Sticky Bomb]

To cut the story short, new investors shouldn't bother themselves to make research on any coin to invest in. They used only choose bitcoin and save themselves the stress and waste of time looking for the right cryptocurrency to buy because there is no one out there apart from bitcoin.

I don't agree with you because you're campaigning against DYOR which is what every new investor must uphold. What you've just said is synonymous to an influencer telling an audience to just buy a coin since it has potentials and that's not true, everybody has the right to make researches and be convinced a particular crypto project suits his needs. Now you've forgotten that some people only want to buy stablecoins for payment purposes, such a person you cannot force to buy Bitcoin but can advise to buy if on an investment journey. Its important every newbie on the crypto space learns the important of verifying and not trusting alone.

The only place I've a problem with OP's write-up is when he was making reference to regulatory compliance which means he's still talking centralization at a time the real trend is about decentralization and censorship resistance. I think he should be more interested in the projects originality and if it has a solid structure and good track record of being valuable.

[osasshem]

OP, you have made quite a nice write up for new investors. If I am wrong, I stand to be corrected. From your outlined points to put into consideration when buying any cryptocurrency, I see them as points for newly listed ones or those that are found down the list on CMC records. When investing, it is best to invest in top listed coins in other to have a safe and secured investment. Though, there could be other promising coins down the list, but who knows how long they'll stay in existence. Therefore, I think staying with the ones that has passed the test of time in the market could save us the long digging of information, while staying ahead of the happenings with news related to these cryptocurrencies.

To cut the story short, new investors shouldn't bother themselves to make research on any coin to invest in. They used only choose bitcoin and save themselves the stress and waste of time looking for the right cryptocurrency to buy because there is no one out there apart from bitcoin.

Despite all the research that you will make, you still wouldn't know the right coin to invest that will give you profits. Making profits from altcoins is luck and not by research or knowledge. Invest in bitcoin and hodli for long term.

IMO, I disagree with your view. As much as Bitcoin is the number 1 currency in the list, it is tagged the safest and the best to invest into, so also are there  altcoins on the top list that are profit oriented to its investors. When it comes to altcoins, investing in memecoins are risky. Imagine having held ETH for the past few years, comparing the price to what we have now, SOL, BNB, KCS, etc...