What questions should I ask myself before investing in a cryptocurrency?

[Vervesh]

How can you tell that you are ready to become an investor in general and a cryptocurrency investor in particular?
Would be great to hear the opinion of experienced investors.

[artem6662]

You do not have to invest more than you can lose. Also you should analyze the project in which you want to invest - team, problems that the project solves, project competitors and more

[mangodream]

Ask yourself if you really what blockchain is and how it is useful for people, economy and so on.
Be sure to know why blockchain is a revolutionary innovation.
Then, to invest in cryptocurrencies, you have to know how they work... Before investing, have a look to the blockchain project they are creating for. (Team, code, realistic vision, development...). Every project made by a startup (new blockchain or project on existing project) should be based on a "white paper" which describes everything about the project itself. You must know what it really is and feel if it will be a success in the future. If you believe in a project than you can invest on its token.

[Vervesh]

You do not have to invest more than you can lose. Also you should analyze the project in which you want to invest - team, problems that the project solves, project competitors and more

Is there any plan you use to analyse the project?

[VackFromOhm]

You do not have to invest more than you can lose. Also you should analyze the project in which you want to invest - team, problems that the project solves, project competitors and more

This is a really good point of advice. I personally look at the team, how much work they've put in so far, what their roadmap looks like, how the community feels about them, and their trading volume. Some of these are more important than the others (I'd say that I definitely weigh a lot how much the community sees them, given that this is a huge world where reputation is important. If a dev team is willing to work to make sure that they are doing what's best for the community then they should have a positive view by the community. Of course, if it's random hate that I can't see where it's coming from or unverified claims, then this means less).

Honestly, it's up to you what you think is more important. For example, do you think that you need to fully be behind what the dev team has in mind for what the coin brings to the table? Do you need a comprehensive roadmap that's rigorous and will push the bounds of the coin? Do you want a reliable volume for the coin to be riding on? These are some of the questions I would ask myself.

[RoommateAgreement]

ask yourself what you really want to do.
you need to accept these things:
- trading altcoins is very risky
- altcoin market is very manipulated
- you can lose a lot of money but you can also earn a lot too.
- it will require a lot of time to learn and a lot of time to study and trade.

if you are ready to do all this and accept the risks that comes with them then you are ready to become a trader.
i say "trader" instead of "investor" that you used because i believe investment in altcoins is not really a good choice but rather trading them is the better choice that you can be more successful in.

[Vervesh]

ask yourself what you really want to do.
you need to accept these things:
- trading altcoins is very risky
- altcoin market is very manipulated
- you can lose a lot of money but you can also earn a lot too.
- it will require a lot of time to learn and a lot of time to study and trade.

if you are ready to do all this and accept the risks that comes with them then you are ready to become a trader.
i say "trader" instead of "investor" that you used because i believe investment in altcoins is not really a good choice but rather trading them is the better choice that you can be more successful in.

Doesn't trading require special skills before you start? I've seen lots of my friends loose bunch of money in the market while the others eventually earned on investment.

[chilly9876]

Questions are:

Can I afford to lose this money?
Do I understand marketcaps?
Am I investing because I can see how valuable this idea can become or because people are saying it's great?

[Mysterious01]

How can you tell that you are ready to become an investor in general and a cryptocurrency investor in particular?
Would be great to hear the opinion of experienced investors.

You can tell that you are ready to become an investor in general if you already master the basics on how it work so you can gain profit, it applies also the the cryptocurrency. You need to be aware also to the risk.
I am not an experienced investor but I have few investment that I put on cryptocurrency and as of now I am earning a little percentage to what I have invested.
Goodluck and may you become a successful investor someday.

[chesegrinder]

If you are goin to be an investor you should keep in my that you should invest only what you can live. If you invest all your money you will lose you living. In crypto you should also considered the project, what does the project wants to resolve is the dev team are trust worthy check their background.. How many coins will they release and what will happen to the coins that did not sell. Check also thier road mad...

[Usuadog]

You do not have to invest more than you can lose. Also you should analyze the project in which you want to invest - team, problems that the project solves, project competitors and more

Is there any plan you use to analyse the project?

That's a good one, thanks.

Also, are you ready to make a lot of money from your small investment? Are you ready to store your coins for a while?

[Delicat]

can you afford to lose it all, the first and most important question.

[kolap]

When it come to a successful crypto it is all about the coder(s) and able team. The hype, the scam and the spam not going to stay for long to sustain if the team can't proved anything.

[coynedterm]

How can you tell that you are ready to become an investor in general and a cryptocurrency investor in particular?
Would be great to hear the opinion of experienced investors.

The best thing to start trading is when you are sure that you are going to make money with high risk investment .
Here when i was newbie in the trading then i was scared that whether it is profitable or not and how much time it will take.
And the results is here what i can tell you .
My main question of risk in trading is the truth , if you invested in a coin then you should make yourself sure that chances of getting profit and loss are same because Any coin can be go to down fully and also can get up easily .
And Second thing that was totally doubtful for me was the time that will take for the for the trading is not sure but it is the truth that a single coin will fluctuate to high once in the 3-4 months , so if you invested in coin then you should wait until 5-6 months atleast to get profit and don't get fear tgat you lost your money , don't sell your coin until you made profit .
Hope these experience of my life in this field work for you to get success in bitcoin field .

[coingrow]

Here is what I look at before putting money into a coin. Check the team, see if they are legit and working full time or not. Secondly, I look at the whitepaper. A lot about the project can be made out from the whitepaper. Lastly, the community should be closely knit.

[lentzaj]

Actually many things :

• Am I sure to really understand what crypto money is?
• what are the risks of crypto-investment ?
• How much FIAT money can I afford to invest on a monthly basis ?
• What could be the possible outcomes of a state regulation of the crypto world
• Why do I want to get involved in crypto world ?

[Vervesh]

Questions are:

Can I afford to lose this money?
Do I understand marketcaps?
Am I investing because I can see how valuable this idea can become or because people are saying it's great?

Don't you think that other people's opinion might be more valuable at the beginning? They might have more experience and understand much better than I do. Isn't it right?

[Vervesh]

Actually many things :

• Am I sure to really understand what crypto money is?
• what are the risks of crypto-investment ?
• How much FIAT money can I afford to invest on a monthly basis ?
• What could be the possible outcomes of a state regulation of the crypto world
• Why do I want to get involved in crypto world ?

So you really have to invest fiat money every month? No chance to earn something and then continue with the profit you've made, instead of investing more cash?

[Jdope]

Ask yourself this, Are you in it for a quick gain? if you think its a get rich quick kind of thing don't invest.

Am i ready to risk? If you are then trading is the way to go, its high risk high reward.

Am i willing to work a little? If you are you can look into buying a mining rig, its a stable (relatively) investment in crypto but requires a bit of work.

[patap0n]

When it come to a successful crypto it is all about the coder(s) and able team. The hype, the scam and the spam not going to stay for long to sustain if the team can't proved anything.

Besides your financial context (should I invest in this ? can I afford to ? how much can I afford to lose ?), just THIS.
The team is, imo, one of the biggest variable of a successful cryptocurrency.

Take a half hour, and go through the LinkedIn profiles of every member of the team. Do they have the experience for that stuff ? Do they know each other ? Who have they worked for in the past ?

It's boring, but it speaks volume about how serious the project is, usually.