What I do before buying an altcoin!

[montreal]

Read the latest news and articles about this alt. It's also necessary to watch reviews from respectable traders and their thoughts about its future in the crypto market.

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[yommey]

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!

Your strategy is good for long or medium term investors.  It doesn't apply to people doing day trading. 

[fritzbird]

Before purchasing any altcoin, I foremost must look at the
present market conditions. See where prices are at the
moment, if the prices are considerable then I purchase them.
But before all that, I also do some reading and some research
about the altcoin, take a look at it's graph for the past months,
If the market is green, I'l wait for spontaneous little dips to
buy them altcoins.

[ozols]

before you buy this coin, you should get to know it well, chat on the forums to understand its future in the market and then understand whether to buy it or not

[coinbergh]

- Research to project.
- Research about team members and their past works.
- Read to whitepaper properly and understand their ideas.
- Check to road map.
- Observe project's social media accounts.
- Look current price and research past prices.

If you are okay with these steps, you can buy it.

[popotao98]

Search about the coin and make sure it is a good one before you invest. It is good and wise to make sure you invest in something good

[blue08]

Before you buy an altcoin, you should make a research first of their project. You can read the whitepaper and roadmap. Study how their project will move on and succeed. Also check the team behind.

[MISS_nSTASSY]

Your check list is good, I should say that best points are to read the topic on bitcointalk and make a team research - maybe some of team members already have experience in different projects so we can check if everything is alright.
One thing I would like to add - check project's repository on github and see how often does the team make changes and develop the product. This will help you to see the real position of the project on the roadmap

[liivii]

You should do a background check on the coin you'd want to buy because not doing a background check will result to a bad decision and eventually lose of your capital. Any good trader knows this thing and it will help them to choose the best coin in the marke. There are many altcoins in the market and everyday a new coin will be added to the list of coins hoping to get a good future in crypto world so it's hard for someone who have clueless in this industry to buy a coin and make a profit. If I were you I will focus on day trading becaus you can earn a lot of money and experience there if you follow the basic rules of trading.

[Pa1n]

Your 6 steps are enough i think. Maybe my opinion is that , courage.Before buying an altcoin you have to be courage,brave.

[novocaine]

I'm not too smart to read market charts but which need to be considered before buying an altcoin is to choose altcoin which at that time the volume trading is high that allows the price movement tend to be fast and good.

Very good recommendations. The main thing is not to be lazy and try to fully explore the project. But unfortunately, our investments in the crypto market are not insured. Even if you exclude fraud, the developers sometime may tritely lack the strength to launch the project ...

[timmeyh]

Quite a specific list of actions before buying a coin after reading the list I thought to myself: Yeah, I do this as well, isn`t it obvious? And then came the realization that not everybody even reads forums before buying a coin.

[bitvalak]

First is I usually read the whitepaper thoroughly. It's the only way to learn everything about the project of the company. That's the only time if I'm convince about everything or generally then that the time I would invest my money.

I agree with your statement. If I may add, team profiles and group activity are also important, as all information will be better if updated every time.

[decano]

Yeah I think he should really first learn about the basics of trading like Technical analysis and Fundamental analysis, types of charts, support and resistance and indicators those things for me are the things that really helpful to me when I started here.

[vochau026]

Best way for buying an alt coin is investigate about the coin apply your mind for what to buy and what not,low price buying is the best buying so that you can sell at high price and earn profit and remain in touch with the coin, again advice don't be hurry think before you buy.

[jgaspar]

This is really insightful topic, thanks for sharring, I would just add, that I would enter a telegram chat and ask people who had alreay bought it.

[efeyigit399]

altcoin is the highest potential platform for making money on the exchange of crypto currencies. The project must be reviewed and consulted before subcodes are received. then it should be decided.

[fromnicetoevil]

You should first make sure that you have done adequate research on the coins which you wish to invest in. Look at them, read their whitepaper, ignore what others say about reading the whitepaper, it is your money and it is your job to secure it. Then find a good exchange platform and then buy your altcoins from there.

[Faithgg]

The regulatory issues are becoming a familiar topic in Bitcoin discussions. You know, in Australia, a lot of new laws are in the pipeline to allow AUSTRAL Analysis and Reporting Center (AUSTRAC) to track and monitor encrypted transactions more easily and collect information. Furthermore, client information and transactional ambiguities. Ok? 

[sniveel]

All you need to do after buying altcoins is wait it until the price goes up in the market hold it for a while and gain some profit on it. Goodluck