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Author Topic: How do you choose what cryptocurrencies to buy when there are so many options?  (Read 481 times)
Beloussovski (OP)
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October 14, 2017, 06:20:25 AM
 #1

Currently working on a web application that will help cryptocurrency traders with what cryptocurrencies to buy and how to allocate between each cryptocurrency. But before I start building, I would like to really understand your workflow (e.g you discover a coin through a friend, check market cap, buy) and what web applications you use to assist you buying and allocating cryptocurrencies.

Thank you in advance I'm hoping to create something that will really help you out in the future!
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Swinging Phallus
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October 14, 2017, 09:30:44 AM
 #2

Web applications? When it comes to finding a crypto I try to look for the best use case. If there is a crypto for  "reviewing food" I don't see it as great as an investment for a crypto thats for instance "bridging fiat" .

- For the most part I just check the ANN thread, If the thread is over 70 pages I'll skim through 10 pages at a time and stop at key discussions and find replies.
-I also check the bounty threads to see if they are being fulfilled regularly.
-Website check obviously.
-Github
-Developers Linkedin, identification is a must. I don't care if they are a kindergarden drop out as long as they are who they say they are.
-Telegram / Slack, How is their community and is the team communicative with them.

Those are most of the key points, I don't consider them being web applications as much as just freely available information.
puremage111
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October 14, 2017, 09:40:38 AM
 #3

Well it depends on several factor

1) Project chances of succeed

2) Project short term/long term profitability

3) Project uniqueness - You wouldn't want to follow a new project that doing something we have in exist
n4poleon
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October 14, 2017, 09:48:23 AM
 #4

Currently working on a web application that will help cryptocurrency traders with what cryptocurrencies to buy and how to allocate between each cryptocurrency. But before I start building, I would like to really understand your workflow (e.g you discover a coin through a friend, check market cap, buy) and what web applications you use to assist you buying and allocating cryptocurrencies.

Thank you in advance I'm hoping to create something that will really help you out in the future!

Essentially, you'll be just providing links for people to click on directing them to a credible source. Discovery, mostly happen on this forum or a friend told you about it. On buying part it's either you participated on the ICO or you buy at an exchange that list it. And what do you mean by allocate? no need for fancy app just buy it at an exchange and done.
Fatoshi
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October 14, 2017, 10:03:44 AM
 #5

Innovation and real world use which cancels out 99% of new ICOs.
runio
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October 14, 2017, 10:10:38 AM
 #6

-small hard cap
-beta-product
-famous team

Like Pally ICO (15th october), but check yourself.
Usui-Chan
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October 14, 2017, 10:11:44 AM
 #7

You can study its stability and how people are using it. If it is widely used enough to sustain its value.
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October 14, 2017, 10:20:57 AM
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I look for ROI and passive income potential via running masternodes or staking.  https://masternodes.pro/ has a list (new stuff coming there, lots of coins missing stats)
ryanben
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October 14, 2017, 10:22:23 AM
 #9

I bought bitcoin or ETH then involved in ICO projects and traded on exchanges. Right from the start, I was introduced to Stratis and Antshare by a friend at this forum and from there I started researching and investing until now.

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October 14, 2017, 10:30:27 AM
 #10

there two basic tecknic on it
1) technical analys => buy when the price hit the support area then sell them on resistant area
2) fundamental analys => look up the updates news from the project, that news usually will increase the value

thank you

AiloveYouks21
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October 14, 2017, 10:42:26 AM
 #11

1. The project must have the product already working.
2. The project is supported by a team of developers and advisory team who have a clean and good track record.
3. The project has a detailed whitepaper.
4. Long-term plan.
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October 14, 2017, 10:45:40 AM
 #12

Currently working on a web application that will help cryptocurrency traders with what cryptocurrencies to buy and how to allocate between each cryptocurrency. But before I start building, I would like to really understand your workflow (e.g you discover a coin through a friend, check market cap, buy) and what web applications you use to assist you buying and allocating cryptocurrencies.

Thank you in advance I'm hoping to create something that will really help you out in the future!
I research the project and its future prospects. Maximum supply of coins/tokens, the development team, their marketing, their technology (whitepaper) and what they attempt to solve are all important factors in a project's success. I then usually do market analysis. I look at the volume, current price, past price trends and what other people are saying about the coin/token on various threads. It's good to have an image of the crowd's general thought.
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October 14, 2017, 10:59:11 AM
 #13

I will research about the altcoins and see what can the project deliver. Normally I will read the Ann thread, follow the altcoins telegram, slack, Twitter and blog to see the projects progress.
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October 14, 2017, 11:00:35 AM
 #14

There a lot of factors that should be considered simultanously. The marketcap, the date which the coin has been created, the roadmap, future developments, the team behind it, ease of its wallet use and its safety and its popularity in medias.
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October 14, 2017, 11:42:46 AM
 #15

Use case
Value of similar non block chain companies
Supply
Market Cap
Team
Product development stage
Hype

All of the above and much more. Do your research and don't follow the crowd is my advice.

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Rebellious
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October 14, 2017, 11:44:18 AM
 #16

It's all about doing researches on the team, the project, the whitepaper etc.
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October 14, 2017, 11:49:34 AM
 #17

simple strategy is by read their roadmap
buy before they release something just like in their roadmap
thank you

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daplun
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October 14, 2017, 02:39:14 PM
 #18

as long as I follow the crypto, there are some markets that are difficult to understand and the design is quite complicated, if the procedure is the same as other markets. so I think create a simple and easy to understand web exchange crypto.
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October 14, 2017, 03:48:43 PM
 #19

Look for coins with a unique purpose. There are probably 2000 coins who claim to be better than Bitcoin. What are the chances of any of them competing with Bitcoin, if that is their only claim to fame?
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October 14, 2017, 04:38:45 PM
 #20

First deciding whether you are short term or long term investor. For short term, you need to invest in hype, check youtube videos, twitter for the hottest coin at the time and then ride the wave. If you are long term investor, check the project the potential of the market and importantly the team behind, then start accumulating when it hits a low comparing to historical data.
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