How to decide what cryptocurrencies to invest in?

[1800ninjafrog]

Hi, I'm relatively new to cryptocurrencies and i want to start investing. I'm just wondering how to decide what currencies to invest in. There are so many its hard to decide. I currently own some: Dash coins, litecoins, shadow cash, ripple, and of course bitcoins. Is there any good methods of choosing currencies other than just identifying trends in charts or reading about them? Any other beginner advice?

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[newrad]

Hi, I'm relatively new to cryptocurrencies and i want to start investing. I'm just wondering how to decide what currencies to invest in. There are so many its hard to decide. I currently own some: Dash coins, litecoins, shadow cash, ripple, and of course bitcoins. Is there any good methods of choosing currencies other than just identifying trends in charts or reading about them? Any other beginner advice?

https://data.archive.moe/board/tg/image/1389/39/1389391383491.gif

Rule #1 never take "investment" advice from bitcointalk forums. You're holding a bunch of shitcoin & scams.

[unusualfacts30]

Community Support, Research research research, more research, look at chart to see how consistent price has been overtime, don't invest on anything that's newer than 6 months (most likely they're scam). If you have doubt about any crypto don't invest over 1% of your total investment, don't get greedy, you need to hold good crypto for at least few months before you see big jump in price so don't get nervous, don't believe anything anyone tell you use your own head.

Here are some crypto that already have good community, support, dev.

SDC
MCZ
LTC
DOGE
DRK
BTC
BAY
BLACK
START
Stellar
NXT
XMR (not sure about this one..it looks risky at this point)
CANN (it has hit rock bottom so most likely going to rise)
NAV (don't buy if it's over 1000 sat..good for short term)
ETC (don't buy if it's over 0.001 wait for it to dip.. it has potential)

just monitor the market and look at all time lowest and highest price it'll give you an idea of how good it is.



good luck

[markm]

Nothing over six months old?

That seems silly.

Admittedly many scams are revealed as such long before they have been around six months, but at least if you wait until a coin has been around at least six months, preferably a few years, you will have a decent timeline to look at and over which to see how serious its community really is about making something of their coin.

One thing I would suggest is look what happened to scrypt coins: a stupid meme (DOGE) happened along and almost overnight conjured up more hashing power than litecoin, which had had years to establish a solid base of hashpower to secure itself. What happens if the next stupid meme to come along says "lets doublespend all the scrypt coins" instead of "lets make yet another scrypt scamcoin"?

Proof of Work is insanely expensive. Ultimately you need more than half of the world's hashpower to secure a Proof of Work blockchain. Even with merged mining I am not sure any of the merged mined SHA256 coins (other than Bitcoin, the parent with which they are merged as child chains) has more than half the world's SHA256 mining power securing it.

With Proof of Work blockchains that are NOT merged mined, ultimately you are not only trying to pay for enough miners to mine it but also paying them NOT to mine something/everything else. The more others they could instead be mining, the more chains you are financing an attack upon. So if there are, say, 100 scrypt coins that are not merged mined, and you choose to support a 101st such coin, you are paying to attack 100 chains in order to support that one chain. You are in effect 100 times as destructive / criminal / evil / undermining-of-the-crypto-field as you are constructive.

So if you have ethics and/or morals, hopefully that rules out all the Proof of Work coins that cannot be merged mined.

If on the other hand you were to invest in merged mined coins, you might actually manage to secure them, making them at least not wet paper bags with "steal my money" painted on them...

-MarkM-

[unusualfacts30]

Nothing over six months old?

I meant newer. typo

[Derrike]

The altcoin you choose must have daily trade volume of 0.1btc,  if less than that, it's a dead coin.

The altcoin must have a supply of less than 50 million coins.

And lastly, the altcoin must have a market capital below 10k $ or btc equivalent.

[Snail2]

Newrad is right about Rule #1. That's the most important. So always do your own research and never listen to people from here who are trying to convince you about the "great investment potential" of coin X or Y.

[HCLivess]

Not worth even replying except for an advice to perform at least some study before mindlessly posting. Thanks.

[n2004al]

Hi, I'm relatively new to cryptocurrencies and i want to start investing. I'm just wondering how to decide what currencies to invest in. There are so many its hard to decide. I currently own some: Dash coins, litecoins, shadow cash, ripple, and of course bitcoins. Is there any good methods of choosing currencies other than just identifying trends in charts or reading about them? Any other beginner advice?

According to me it is not worth to invest in crypto. There is not rules that can help someone to do the right prediction except rare cases when specific people have the right info. Info that in any way will be divided with someone because they want to earn them selves. So save your coins for you and use them in case of need.

[g1974ak]

Hi, I'm relatively new to cryptocurrencies and i want to start investing. I'm just wondering how to decide what currencies to invest in. There are so many its hard to decide. I currently own some: Dash coins, litecoins, shadow cash, ripple, and of course bitcoins. Is there any good methods of choosing currencies other than just identifying trends in charts or reading about them? Any other beginner advice?

From investing in cryptocurrencies can earn only the developers who create the coins. This is what I think. I have bitcoins and invested those only one time in one investment fund. Lost all. So I suggest to not invest your coins but to save them. Or invest those only if you can find trustable people who have access in important info that can do you ti earn for sure.

[bitreview]

For what it's worth, wouldn't invest in altcoins.  Might as well put the money you'd like to invest into bitcoin, which is by far the "safest" play, despite is having pretty massive upside still.  Might be able to luck your way into an altcoin that outperforms, but the opposite is much more likely IMO.

[sofu]

Hi, I'm relatively new to cryptocurrencies and i want to start investing. I'm just wondering how to decide what currencies to invest in. There are so many its hard to decide. I currently own some: Dash coins, litecoins, shadow cash, ripple, and of course bitcoins. Is there any good methods of choosing currencies other than just identifying trends in charts or reading about them? Any other beginner advice?

Depends on what you like. Shortterm gamble coin or longterm investment.

Longterm: Coins that have a lot of devs and deliver what they promised. Buy NXT, Vanilla and some other. They are very rare

Shortterm: Ninja launches, DPOS, High Rewards on the first blocks, Twitter Hype, Name of Dev is always [Coinname]dev or Cryptowest or ICM 

[Denker]

Hi, I'm relatively new to cryptocurrencies and i want to start investing. I'm just wondering how to decide what currencies to invest in. There are so many its hard to decide. I currently own some: Dash coins, litecoins, shadow cash, ripple, and of course bitcoins. Is there any good methods of choosing currencies other than just identifying trends in charts or reading about them? Any other beginner advice?

Putting money in altcoins is way more of a gamble than just putting in Bitcoin.And even that is a gamble because all those crypto thing is still so young and an unknown field and nobody can predict the future. If you have put money in Bitcoin and believe in it then hold it.And always only invest what you can afford to loose!!
Don't gamble with it in Casinos or whatever. The chance to loose it is very high.
Regarding altcoins do your own research.Maybe have a focus on the top 15-20.Check my sig.

[TibanneCat]

for now, I'd just stick with bitcoins

Don't listen to anyone who tells you to gamble, 'invest' or mess around with alt coins unless they come free or you're completely happy to throw those coins away in case it goes wrong.

If you asked someone how to grow your dollar balance and they suggested you invested in a company that was totally anonymous with no comebacks run by amateurs in a shaky industry or told you to go to the nearest casino and throw all your money down on a random number, you hopefully wouldn't think they were worth listening to.

[Abiky]

Just invest in Bitcoins, hold them and you'll play safe. Remember, never invest what you can't afford to lose. As for alt coins, be careful on which you invest on. Be sure to make a research on such coin (development, community, etc) before making your move. 

[tyz]

I choose coins based on different factors:

• coin need to have good unique tech
• no copy coin
• a plausible roadmap
• promising planned features
• active community

[Nxtblg]

Nothing over six months old?

That seems silly.

Not for a newbie. It's just a replication of the time-worn advice to new stock-market investors: start with the blue chips, and learn as you go. Really, all cryptos - even Bitcoin itself - are highly speculative; we have to work with what we've got. That noted, the best analog to the above time-worn advice in my 'umble opinion is this little list:

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Well-Intentioned Advice For Newbies

• Start with the top ten cryptos listed at Coinmarketcap
• Cross Bitcoin off the list, for obvious reasons. Optionally, cross off Ripple as well.
• Cross off the ones that are less than a year old. This eliminates superpumped coins that'll likely fall once the hype dissipates.
• The alts that remain are your research list. Look into each of them.
• As part of your research, look at the long-term price charts for each.
• While you're still new & learning the ropes, look for the alts that show long-term price stability. At this stage in the game, you should focus on avoiding huge losses.
• Speaking of losses: a useful skill for a trader is taking a loss early. It's not useful for a long-term holder.
• Apart from the charts, you should be looking for community support and a growing ecosystem.  
• Don't concentrate all that much on technical innovations: not yet. As you learn the ropes, you'll get a feel for which innovations add value to the alt. As you grow in experience 'round here, you'll be able to distinguish between the good, the vain and the flaky.
• Expect to be caught up in the periodic bouts of enthusiasm and hysteria 'round here: expect to be part of a "madding crowd" at least once. Leaning to see through them, and to act accordingly, is a hard-won skill that's very valuable in the long term. Sadly, this hard-won skill has to be learned the hard way.
• Avoid ICOs like the proverbial plague. ICO speculation, as best as I can determine, requires a callous attitude which accepts being scammed as one of the risks of the game. If you don't have that attitude, the ICO circuit is a lot like a Bizarro-World game show where the most enthusiastic contestant 'wins' a huge loss.
• P.S.: The above list will serve as a "punter's sandbox." Don't relax these criteria unless you've put in some time here and learned some of the ropes. It would be courteous of you to stay in the sandbox until you can take a loss without getting upset: a good habit in general, as stifling your upsets will enable you to learn from your losses.

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Granted, a lot of vets would see some of these items as silly - but they're intended as a whole "newbie sandbox" set.

[reRaise]

If a crypto is not easy accessible and easy to use with enough incentive by a regular person, then it's not worth it because network effect is everything and 99.9% don't offer such thing, there are only 2 coin offering this.

[unusualfacts30]

If a crypto is not easy accessible and easy to use with enough incentive by a regular person, then it's not worth it because network effect is everything and 99.9% don't offer such thing, there are only 2 coin offering this.

let me guess...one of them is getgems? 

[reRaise]

If a crypto is not easy accessible and easy to use with enough incentive by a regular person, then it's not worth it because network effect is everything and 99.9% don't offer such thing, there are only 2 coin offering this.

let me guess...one of them is getgems?  

I usually don't like to mention it in such Threads, but yes Bitcoin and GetGems are the only projects i care about and maybe Ethereum a little.

Btw you fuckd up in this Thread https://bitcointalk.org/index.php?topic=1134452.msg11967225#msg11967225

Next time don't be such a hypocrite.