What are the things to look for when buying Altcoin?

[coin_1122]

For me it's the whitepaper. In essence, you can see their intentions from reading their whitepaper. You can also spot unsuspecting things from the team by reading the whitepaper. For me though, I decide in the whitepaper to see whether the project is being handled by 15 year old monkeys or a dedicated developers. Well, we have our own preference, this is just mine.

The white paper is always good to read the news about the company and their future deals about the project, till now I have gone through many company white papers and failed to lead that development, not only Whitepaper we should keep track the team in all possible ways. I will trade coins when it is listed higher volume exchanges.

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[Greatdev]

I look for nothing than promising projects that are very good enough, team must be professionals and have past projects or blockchain companies they've worked for or worked on, such projects can be find through top Exchanges launchpad, binance for example, I never think twice when I saw these projects for the first time, COTI, Avalanche, Polkadot, DIA, Ferrum, etc

[Greatdev]

For me it's the whitepaper. In essence, you can see their intentions from reading their whitepaper. You can also spot unsuspecting things from the team by reading the whitepaper. For me though, I decide in the whitepaper to see whether the project is being handled by 15 year old monkeys or a dedicated developers. Well, we have our own preference, this is just mine.

The white paper is always good to read the news about the company and their future deals about the project, till now I have gone through many company white papers and failed to lead that development, not only Whitepaper we should keep track the team in all possible ways. I will trade coins when it is listed higher volume exchanges.

Going through whitepaper is old skool now, can't be used to judge or choose a project, whitepaper can be written by anybody and they are most times plagiarized, some Scammers are even very crafty, you may not detected any flaws in the whitepaper

[awakpane]

In my opinion, things to watch out for when choosing to buy altcoins

1. Ensuring the Legality of the Exchange
In choosing an exchange, the thing that must be considered is security. Check if the exchange offers two-factor authentication (2FA) security which is a security standard.

2. Transaction fees
All exchanges charge a nominal fee from the user for both altcoin and Bitcoin trading. As such, you can check the details about fees which are an important factor to look at if you want to choose a platform for buying and selling altcoins.

3. Great timing
It's nearly impossible to perfectly time the market for altcoin investing. There are periods of extreme growth and lots of rough patches too. Before you invest in cryptocurrencies, check the historical price of the coin and analyze whether it is in an up or downtrend.

[Handsome Boy]

Currently, if you want to buy any altcoin, it is very difficult. You can't choose an option quite easily. Also, the crypto market is currently volatile. In such circumstances if one wants to buy altcoin. So what should be the main focus?

if I want to invest in cryptocurrency, then I will look at this factor :
1. already have a product
2. always have progress
3. have a high trading volume
4. already listed on major exchange
5. top 500 on coinmarketcap

[Shubh7668]

Don't put your all money in a single coin.
If you can hold it for lang then go with top alts,but if you want quick gain(more risk) then you need to be better in fundamental analysis.

[Ifemini]

Currently, if you want to buy any altcoin, it is very difficult. You can't choose an option quite easily. Also, the crypto market is currently volatile. In such circumstances if one wants to buy altcoin. So what should be the main focus?

The main focus while investing should be the project product, use case of their token etc; is it achievable? can it draw in interest and adoption? You have to focus on this because the whitepaper is not enough to do justice.

[Kong Hey Pakboy]

Going through whitepaper is old skool now, can't be used to judge or choose a project, whitepaper can be written by anybody and they are most times plagiarized, some Scammers are even very crafty, you may not detected any flaws in the whitepaper

That's right, now the whitepaper can be manipulated by anyone in the project, especially the scammers who are smart enough at this point, so the whitepaper can no longer be the main reference in choosing a project because considering that many projects make plagiarism in their whitepapers.

Indeed. It is not advisable anymore to read or check the whitepaper of the project before investing because some scammers are smart enough to make their project look promising in a fake whitepaper that some of them are just copying others' ideas to look good. It is why I only invest in top coins in the market because I don't want to risk money on a project that is not legitimate or unsuccessful.

[skarais]

OP, you need to know that the cryptocurrency market is never stable and will not be stable due to the influence of supply and demand. Cryptocurrency price fluctuation provide trader with profit and lose, also fluctuation can never be eliminated from the cryptocurrency market.

Altcoins may still give you profit through investing and trading, but some people are still not interested in buying them just because they believe that most altcoins will only end up in shitcoin which is hard to give you a profit. However, you can still invest in some of the best altcoin CMC version of, this will make it easier for you to choose which altcoin people like as their investment destination.

I'm not talking about altcoin that are selling via ICO, IEO, DeFi, or anything else. I only recommend that you invest in current well known altcoin because they may be far superior to newer altcoin.

[IkonaDro4ku]

Currently, if you want to buy any altcoin, it is very difficult. You can't choose an option quite easily. Also, the crypto market is currently volatile. In such circumstances if one wants to buy altcoin. So what should be the main focus?

This is a very good question. There is no exact answer to this question.
I believe that in any case, you should lay the probability that everything will go wrong as you please. In this case, you will not take the market attack against you as a personal fiasco.
It is best to look at the work product of the project, continue to see who uses this product and then who else can use it.
Buy when there are rumors of a new partnership and sell when it was officially announced.
This is all theory as you understand...

[Silberman]

Currently, if you want to buy any altcoin, it is very difficult. You can't choose an option quite easily. Also, the crypto market is currently volatile. In such circumstances if one wants to buy altcoin. So what should be the main focus?

If you are thinking in buying relatively new coins or coins that are outside the top 10 then the most important thing is to avoid being scammed at all costs, even investing in a coin that goes down is not as bad as you can recover some of that money, but if you happen to invest in a scam you are never going to see that money again, so before you invest in any coin you need to research the most common ways in which you can be scammed so as to not fall pray of those criminals while looking coins in which to invest.

[Roidz]

Currently, if you want to buy any altcoin, it is very difficult. You can't choose an option quite easily. Also, the crypto market is currently volatile. In such circumstances if one wants to buy altcoin. So what should be the main focus?

Before buying altcoins, we should do some research first on the altcoins we want to buy, because the decision to choose or buy altcoins is quite complicated, especially because altcoins now have many types, what must be considered is the volatility of each coin, it is better if we also look at history to the altcoin price analysis. We can also follow the official altcoin website so that if there is the latest development of altcoin, of course we can take a stand to buy, hold or sell later and knowing the altcoin background is very important to determine which altcoin we want to invest in in my opinion.

[seleme]

The main focus should be only about buying quality project shares aka tokens, the loss is the best way to understand how the new projects are going to scam anyone. Before checking the profit/loss ratio, understanding the market risks will clear so many questions about the investment. No preparation about the market risks can make everything difficult and differently.

Currently, if you want to buy any altcoin, it is very difficult. You can't choose an option quite easily. Also, the crypto market is currently volatile. In such circumstances if one wants to buy altcoin. So what should be the main focus?

Before buying altcoins, we should do some research first on the altcoins we want to buy, because the decision to choose or buy altcoins is quite complicated, especially because altcoins now have many types, what must be considered is the volatility of each coin, it is better if we also look at history to the altcoin price analysis. We can also follow the official altcoin website so that if there is the latest development of altcoin, of course we can take a stand to buy, hold or sell later and knowing the altcoin background is very important to determine which altcoin we want to invest in in my opinion.

Unfortunately, the working mechanism of investing in the altcoins have been destroyed by the market makers. The greedy exchanges make money by taking a money from teams and listing the token of the projects. If the token trading value and total interest go down after getting listed on that exchange, they will send batch emails to investors to sell or withdraw the tokens. Of course, it will late to sell the dumped tokens and this is how they scam us.

[speedforce]

The main focus is what is your investment or trading strategy and also your money management. Many investor fail to gain profit because of that. After that u can research some Altcoin from Coincalendar to see coin which have some good events soon, because its probably affect on the price. Dont forget to research the team behind it, so you can put more trust on it.

[suzanne5223]

The main focus should be only about buying quality project shares aka tokens, the loss is the best way to understand how the new projects are going to scam anyone. Before checking the profit/loss ratio, understanding the market risks will clear so many questions about the investment. No preparation about the market risks can make everything difficult and differently.

IMO, only experienced traders will only focus on a quality project since she knows how to find one and the loss is not only the best way to understand if a new project will exit scam since scam project operated in a new dimension.
Having said that, I believe the first to look out for when buying altcoin it the community support level, historical data, cap, and concept.

[kevinzxz]

Currently, if you want to buy any altcoin, it is very difficult. You can't choose an option quite easily. Also, the crypto market is currently volatile. In such circumstances if one wants to buy altcoin. So what should be the main focus?

for now I'm only focused on investing in altcoin that are in the top 10, because the risk is smaller and of course the price will definitely continue to increase even though slowly, because in my opinion the increase in cryptocurrency prices is not the same as in December 2017-January 2018 (all altcoin prices increased very high), but for now only a few altcoin prices will increase very high, therefore I will choose to invest safely instead of losing my money and for now I choose to invest in ETH, DOT, ADA, LTC and BNB.

[xiboothrezi]

~~So what should be the main focus?

do a market analysis, of course. that is the main thing that must be done so that you are not easily trapped in losses, fomo, fud, and so on. technical and fundamental analysis must be done in order to get the right timing to enter and exit the market, this avoids losses due to the influence of Fomo, we really have to have brakes.
knowledge is power, read this article to find out what things you should avoid when trading or investing https://cryptodetail.com/crypto-trader-mistakes

[Wawa2013]

For me, the main focus when choosing altcoins is to look at the market cap of these altcoins, the higher the market cap, the safer it is to buy.
In my opinion it is not that difficult to choose altcoins that are worth buying, like I said just focus on the market cap. Because altcoins with
a high market cap usually have a high demand too, the more interested in these altcoins the easier it will be to generate profits from these altcoins.
Maybe the rest is a technical matter for determining the buying and selling price, which if you do the analysis correctly can certainly determine
when is the best time to buy the altcoins of our choice.

[Nisterse]

Currently, if you want to buy any altcoin, it is very difficult. You can't choose an option quite easily. Also, the crypto market is currently volatile. In such circumstances if one wants to buy altcoin. So what should be the main focus?

Use that volatility to choose actually. Do some market analysis too, always check for news about that certain token/coin, if its checked out to be a good news in the coming days, better have em at lows. Read some TA's of well-known crypto enthusiasts for some advice too. And always check from time to time the token you wanna trade. This is what my mistake in trading XRP actually in the last couple of weeks. Bought them at .55 then it suddenly plummeted down to .23, huge loss on my part for not checking on them. Dont make the same mistake as I did. Good luck!

[BigBoy89]

Currently, if you want to buy any altcoin, it is very difficult. You can't choose an option quite easily. Also, the crypto market is currently volatile. In such circumstances if one wants to buy altcoin. So what should be the main focus?

I'm usually going after MVP (Minimum Viable Product) or partnership with at least one very well known player in the industry. Then I'm moving to tokenomics (is it adequate) and then to the team. The team should have at least working LinkedIn profiles (to more about them) and best-known in the community.

It's a risk versus reward game. If you don't have the time to do the diligence, stay with the Bitcoin.