What I do before buying an altcoin!

[mrcastelo]

Before buying any altcoin make sure to do an intensive research on the altcoin, by checking their social media accounts (twitter, facebook, telegram etc) know the people behind the altcoin how active are they in developing the project and read the whitepaper to have an idea about the altcoin.

[slapper]

So I thoght this could be of help for some that also in search so they will also be inspired .. maybe they could also ad stuff arround here that could be of help!

Research it takes a few days/weeks so if u're in this fase take your time.

1.Forum search about the coin;
2.Join the telegram group and try to interact with the members;
3.Try to make a post on the forum and also see the crowd sentiment;
4.See some data on coinmarketcap.com , : https://icodrops.com/ , https://icorating.com/
5.Watch this tool from investing.com - find here the explination: https://bitcointalk.org/index.php?topic=2873063.msg29503403#msg29503403
**LATER EDIT:
6. Team - research moust of the members on linkedin and google , also the backers or advisors.

Doing this can be of help to get a sense of a really good buy... at least this is what  I do.

What are your thoughts ? How do you do it??

Cheers!

That's a really good thought a newbie has! There's another way I can provide you is that you can check the project plan and check their progress. If they are on the right way in the right time, it will be a positive signal for the future when the project is fully developed and all the function the team planed to do is done, the price will be as high as it has to be, we can believe in it!

[jassanpary]

Before buying any altcoin make sure to do an intensive research on the altcoin, by checking their social media accounts (twitter, facebook, telegram etc) know the people behind the altcoin how active are they in developing the project and read the whitepaper to have an idea about the altcoin.

Before buying any coin some ground work is absolutely necessary, simply don't jump and blindly buy the coins do some research work and look at the history of price and how it's varying then come to the conclusion whether to buy it or not.

[leynylaine]

Research is the best, knowing informations as much as possible about the altcoins is necessary and also posting a thread about that altcoin will let others say their opinion and let them inform you about the project. Also, buy an altcoin if the market has a low value.

[Gulayman]

You should be do a deep research before buying and wait for a few weeks to monitor it's volume of trade on exchanges and its potential after that try to invest there.

[efeyigit399]

This is a very difficult question. The crypto money market is very volatile. it is necessary to work hard, be patient and investigate first to enter this market. Subcoins are very alternative.

[ICO Lancer]

That's a pretty good approach, also applicable to ICOs and would definitely recommend to people doing that.

[sarfwr]

But most of the time, you interact with members on telegram groud, and they don't have a lot of time to reply to you.
I think the best thing to do is to look directly at the quality of the gtihub code, because no matter how elaborate a project's white paper is, you can see everything from the code.

[Haywhy1]

Before i buy any alternate cryptocurrencies, i first read there white paper, know much about them on telegram, see how much people respond and invest on it.

[rancidgash]

That's a pretty good approach, also applicable to ICOs and would definitely recommend to people doing that.

You should have to do a deep research for the coin in which you want to invest and have to wait for it for a few weeks to monitor its volume of trade on exchanges and its potential after that try to invest there.

[sunX3]

I think the telegram interaction with their community is key here. A lot of devs simply don't care about their chats and ignore it, which is pretty unfortunate.

[screwUdriver]

This is a very difficult question. The crypto money market is very volatile. it is necessary to work hard, be patient and investigate first to enter this market. Subcoins are very alternative.

Have a reason before entering each trade: Start a trade only when you know why you’re starting and have a clear strategy for afterwards.Not all traders make gains from trading.

[01BTC]

Good to see that this is getting some attentions bcs I know it's important to know a few basic steps when buying! ..

[redhondaxrm125]

umm.. I think you forgot to mention the fact that anyone who is thinking about investing into any altcoin should always consider his financial status first. He or she should always think about how much money he or she earns every 15 days, every month or every year. Also, basic needs like food, water, electricity and any other bills out there for the things he or she cannot live without should be calculated and deducted precisely to his salary so he can accurately make plans for any other things like savings for emergencies, sure investments, and gamble investments like altcoin or crypto investing. Because if not, he or she may end up losing thousands rather than gaining thousands and be on a deep sht for all we know. It is important to consider all this things since cryptos are completely random when it comes to profits and returns. Plus the fact that the process on investing on it takes a good amount of time as well as taking the money out, that makes it scarier when emergencies come and you do not have some extra cash, makes considering these things a really worth it decision before investing.

[naidray]

That's a pretty good approach, also applicable to ICOs and would definitely recommend to people doing that.

When it comes to ICO, it is even a different ball game entirely. With most of these altcoins, either ones with shitty project or not, at least they are already on exchanges and you can even decide to discard them at very low prices if you wish at the end. However, for ICO, once you miss it, you have missed it. The thing about the crypto space is that, never stop digging and finding out what the dev has been doing or will do as the case may be. For Altcoins, once I am able to get the real idea of the project and very usable as well as workable, with a very active dev, I do not always mind holding for as long as I can, which applies to ICO as well.

[catapult]

I think people's opinions are important before of buying an altcoin. So, in my opinion, forum is a really good platform to get information and discuss about the coins.

Also I think reading the whitepaper of an altcoin is really important.

[Boybugwal760820]

If willl gonna buy an altcoin the very first thing that I'll gonna do is to investigate first the altcoin if what really that altcoin will gonna offer to the general public and then make sure also if that altcoin will possibly grow in the crypto world and eventually grow and increase its market value so that you will be able to get back what you had invested along with the profit also.

[ccryptopark]

It looks pretty sound. I did that with a great find: IoT Chain (ITC). Heard that they were the IOTA of china and delved into research. Really underrated coin found on this forum. https://coinmarketcap.com/currencies/iot-chain/

[01BTC]

Before buying any altcoin make sure to do an intensive research on the altcoin, by checking their social media accounts (twitter, facebook, telegram etc) know the people behind the altcoin how active are they in developing the project and read the whitepaper to have an idea about the altcoin.

Social media it's important too. The community management department it has to be one of the engines of each one so I think these are also a must.

Deconsidering these is definitely a minus...

[asepsetiawan1990]

the things that are done do quite right. It can take some time. Each individual has a different understanding. Then the time will be taken will be different in doing research as you do.