Determine which coin to invest in?

[peevekos]

Hi guys, I am seeking general crypto advice. What factors do you consider when you seek for a lesser-known currency to invest in? I am not talking about the top 10 or 20 coins, but lesser known coins.

[jackg]

don't, unless you want to lose money.

Essentially...


You wouldn't go for 10 or 20 if you did want to find a good coin at the bottom of the pile and you'd probably have to do a lot of searching to get anywhere near that.

You're going to want to:
Inspect the dev team and check their credentials and experience
Look at what the coin tries to innovate
look at how far the team are from approaching that innovation.

Although if someone needs a private ico or crowd funding I think that says a lot about the team beind it. Not to mention a lot of icos scam or the coins do something eth or btc or a few other coins could do...


You're probably looking at the top 20 with good fundamentals and investing in those or just holding btc...

[jossiel]

We always see someone who's asking for those coins that are under the radar and probably thinking that they will skyrocket in the future. @OP be careful with investing with those lesser known cryptos.

They're prone to pump and dump scheme. But if you like to have one, DYOR, particularly with the team. Those copy paste teammates, names and picture are still happening for the new projects.

[Pmalek]

I don't keep track of less known coins so I wouldn't be able to point you in the right direction. But one coin that seems to be doing really good lately is Chainlink - LINK. You have to do you own research if LINK is something you would be interested in. But they have recently signed different kind of partnerships with Google, Nexo, Ethereum, Huobi, etc. 

[actmyname]

"Lesser known coins" are 99% of the time utter shitcoins. Avoid most if they don't have something groundbreaking, because otherwise you're probably looking at another copy-pasted clonecoin that can go fork itself with the rest of 'em. Always be sure to use the "if it's too good to be true" principle when you're looking at very optimistic remarks. There is always a catch somewhere.

[harizen]

Hi guys, I am seeking general crypto advice. What factors do you consider when you seek for a lesser-known currency to invest in?

Aside from those on the top, choosing other coins to invest is really tough and our own factors of choosing coins might not be as effective when you applied it to your own. As for me, I always look at how large the community is and some actions, plans and developments by the team behind that coin. But take note, still it's not an assurance that "it will be worth it" someday.

Since people have different preferences try to make your "own preferences".

I am not talking about the top 10 or 20 coins, but lesser known coins.

The fact that they are "lesser known coins", it's risky to just hopped in without understanding the risks.

I suggest to totally ignore them. But if your experience is telling you that "you want to take the risks", it's up to you. I've been there before and able to have a decent run playing at those kinds of coins/tokens but I understand the risks of what I did. Just go deep with DYOR skills as much as possible.

[OgNasty]

Hi guys, I am seeking general crypto advice. What factors do you consider when you seek for a lesser-known currency to invest in? I am not talking about the top 10 or 20 coins, but lesser known coins.

Does it do something that Bitcoin can't?  If not, don't invest.
Is there a founder's reward?  If not, don't invest.
Is the distribution fair?  If not, don't invest.
Is it an open source project anyone can contribute to?  If not, don't invest.

I generally believe that 95% of your crypto holdings should be in Bitcoin, but a couple I wouldn't oppose seeing money thrown at are: Grin, Ravencoin, & Namecoin.

[peevekos]

Hi guys, I am seeking general crypto advice. What factors do you consider when you seek for a lesser-known currency to invest in? I am not talking about the top 10 or 20 coins, but lesser known coins.

Does it do something that Bitcoin can't?  If not, don't invest.
Is there a founder's reward?  If not, don't invest.
Is the distribution fair?  If not, don't invest.
Is it an open source project anyone can contribute to?  If not, don't invest.

I generally believe that 95% of your crypto holdings should be in Bitcoin, but a couple I wouldn't oppose seeing money thrown at are: Grin, Ravencoin, & Namecoin.

How would I go about checking if a coin's distribution is fair, or if there's a founder's reward?

[hatshepsut93]

Even the big coins never looked good from the fundamental point of view, and things are much worse with the smaller coins. They often have inherently flawed design choices, like for example IOTA's DAG; they can be a useless knock-off of a more succesfull coin - for example, Bitcoin and Ethereum "killers"; they can have unrealistic and ridiculous premise, like a coin based around cannabis or farming. These altcoin markets have very low liquidity, so it's very easy to manipulate them. Chatboxes, telegram channels and crypto blogs or news are full of shills that will hype an altcoin for money. Lastly, altcoins sometimes get hacked or even 51% attacked. And of course there's always a risk of scam with the newest coins, like a premine dump or an ICO/IEO.

People could say that with some sort of knowledge you can avoid the scams, but it would require years of experience to develop the intuition for it. To a newbie, a whitepaper full of technobabble looks like good fundamentals, and retweets from bounty hunters look like an active community.

[actmyname]

How would I go about checking if a coin's distribution is fair, or if there's a founder's reward?

Usually, the coin lays it out bare. If it doesn't have any details on the distribution, then you can be sure to raise that red pennant and say "stay away" because a lack of transparency (and/or open-source code) can easily lead to centralized and unfair systems within the network or coin/token protocol.

You don't want to see any 30% premine coins. Those are usually dumped immediately after their price is anything slightly significant, which should lead to a lack of incentive to invest. Even if a coin is legitimate, many prospective investors will be very hesitant to take a look at premined coins.

[ice18]

Why do you want lesser known cryptocurrency? Why not buy coins which is on trend right now mostly they are defi projects if you want fast return invest on a legit and new defi with absolutely great use-case and founder and you are good to go, just follow the trend if you want to earn money fast.

[pooya87]

it depends on whether you want profit or technology.

if it is technology you seek and invest in something that may be useful in the future then there is no such thing as "top X coins" or "lesser known coins". those concepts are only for pump and dump schemes.
to find these coins you have to have technical understanding of cryptocurrencies and spend a lot of time researching on your own because nobody else gives a crap about such characteristics in an altcoin. everyone wants the short term profit.

if you want profit then it means "top X coins" are "top" only because they were more successful in their pumping of their shitcoin. for instance ETH, XRP, BCH,... are top exactly because of this. otherwise they are least profitable and least useful of all. the smaller coins that are less known and have lower prices could give good profit when they get pumped. in which case you have to be able to find pumps based on their signs (hyped up social media, increased volume, certain news,...) and accept that there is a huge risk getting involved with these shitcoins.

[LUCKMCFLY]

You must be very careful, there are some coins that are not as well known and that you see in some Exchanges that have + 30% or + 40% and are coins that only survive by the Pump and Dump. The main currency that you should always trust is Bitcoin, since they all depend on the movement of it, all unrecognized altcoin the probability of failure is very large, it is preferable to trust the first 5 of the CMC top.

And as they have said before, you can do your pertinent research, see the technology, innovation, review the project if it is legit or not, read the Whitepaper and have a clinical eye to decide to make some type of investment or trust that it has a future, It already depends on your criteria.

[l3pox]

great topic
DYOR is a must

Nik has some really good post on that subject:
https://www.altcointradershandbook.com/
totally worth checking his blog.

there are many things to check but I'd go with learning TA basics, understanding price action, volume profiles and being able to spot accumulation on markets that are moving sideways.

apart from that is good checking FA, website, team members, checking if the project is not just a copycat of another project
so forth and so on

[20kevin20]

Why do you want lesser known cryptocurrency? Why not buy coins which is on trend right now mostly they are defi projects if you want fast return invest on a legit and new defi with absolutely great use-case and founder and you are good to go, just follow the trend if you want to earn money fast.

Following the trend to make profit by purchasing top cryptocurrencies is like purchasing Microsoft and IBM stocks today. If you want to simply seek % volatility, lesser known cryptos are the way to go imo. You can literally have 100% increases in under a week.

DeFi are too new to be able to say "yeah, they're going to be a thing". I really wonder if within an year people would still care about them.

[Josefjix]

If you want Return on invest (ROI) on a monthly basis; I'd suggest you go for Ethereum or any of the fast rising Defi coins lik Oikos OKS and DIA. If you want a long term investment and you would never regret investing, go for known cryptocurrencies to avoid buying shit coins that won't be valuable in the market in the next 5-7 years after HODLing.

[alik111]

Determining a coin to invest in is really a hard task now.Because most of the altcoins are dumping hard and now launching a lot of scam projects.

My choice is to invest in Energi(NRG) coin as this is really a great project with Proof Of Stake masternode coin.

You can either choose by your own research and that is be the best option.

[Shohag123]

Hi guys, I am seeking general crypto advice. What factors do you consider when you seek for a lesser-known currency to invest in? I am not talking about the top 10 or 20 coins, but lesser known coins.

Normally I check that if they are updating their work on project on regular basis or not.And if they tell they have  good partnership with other significant company,then I check that its true or not.Some project advertise their project with false partnership.So be careful.

Of course you have to check and research about their project.And I study for 1 week about their price fluctuations and if it meets my expectations then I invest in it.

And recently Digitex coin is doing good.They have an exchange which is trading fee free.It will open for public very soon.

[FIFA worldcup]

Hi guys, I am seeking general crypto advice. What factors do you consider when you seek for a lesser-known currency to invest in? I am not talking about the top 10 or 20 coins, but lesser known coins.

There is big risk if you trade with less known coins. Some of the coins may pump and dump all of sudden because they have low volume which can easily manipulated by the developers too. The only advantage in these coins is that if you are lucky you can get even 50x profit in a day but losing percentage is also very high.

[anu1908]

team background & transparency, competitors on the market, token valuation, roadmap, etc. it's extremely difficult to research all tokens on the market on your own. it is okay if you join group and follow the hype but before you buy anything, make some research first. follow the hype, stay for the fundamentals, don't get too attached to a project.