What are the things to look for when buying Altcoin?

[Santri]

if having difficulty deciding which coins you want to buy, it is better to focus on the top altcoins because they are not too risky of losing a lot of money

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[RussianEnglishTranslation]

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?

My main focus when buying alts is legality. We can see the SEC cracking down on cryptocurrency projects like Ripple and they have a history of destroying other projects. If you have invested in a cryptocurrency that:

raised funds from the public

the devs control the supply

is managed by a company or foundation

Your investment is at risk and could possibly go to 0. I'm only buying mineable cryptos right now where the devs don't control token issuance (RVN and 0xMR for example).

[Kunnu]

The reliability of any project is absolutely necessary to find out and this is the first important step I always take before buying any altcoin that's why I try to do deep research as much possible besides this I also keep eyes on development processes because a strong development is absolutely plays an important role for the successful growth of an altcoin.

[LimLims]

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?

Let me share what i do when try to buy new coins.
First of all i look at Twitter about that particular coin, what all the veteran traders think.
Then i myself personally do a background check up of the coin, about it’s growth and downfall.
If everything about the coin seems to be alright, then i buy the coin at the current price.
Soon after i buy, i place it in sell at 20% profit and wait.
That’s what i do when i buy any altcoin.

[KennyR]

First need to check the website and the transparency in the project. Further the whitepaper to know, does the project has got a minimum viable product. Next want to find the opportunity for profitability/growth expectancy. Altcoins are part of the market, but we need to understand and analyse well about its plan of listing on exchanges and the trade support from the team.

[ivankoh]

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?

Initially, you must build and plan your purpose of buying altcoin towards what goal? You buy altcoins to make a short profit or wait for the light from them. In response to that, do not dismiss your thoughts and be wise if you cannot judge the situation. If you are just starting out in the crypto world, feel confident to embed on the platforms that have created trends for altcoin such as ETH, TRX, LTC or breakout like Dot, LINK .

[heztida3]

The current digital money market is profoundly unpredictable. Purchasing any altcoin right now is somewhat dangerous. Since I think the altcoin season is practically finished. In any case, in the event that you need to purchase Altcoin, you can see the 24 hours exchanging volume of that Altcoin, you can see that Altcoin ATH, you can see the distinction between the current cost and ATH. At that point you can purchase coins at an advantageous cost.

[jaberwock]

I rarely invest in new altcoins due to the fact that a huge number of new altcoins are just scams, so I most often invest in top proven altcoins and therefore I do not need to study top altcoins since I already know their capabilities and technologies and this saves both time and brings me profit on an ongoing basis, and when I sometimes invest in new altcoins, then I usually invest in altcoins that conduct IEOs on top exchanges like binance, because I know that exchanges like binance will not conduct IEOs for scam companies.

That is is exactly what you should do when it comes to big time investments, however depending on how much money you have, putting 10-50- even 100 dollars into some small time stuff that you want to see succeed wouldn't be a problem.

You could always tell apart the real good ones and the real bad ones, I have seen one that has been worked on since 2018 for example, it is not even a defi, it is just a portion of it and it is basically a "hub" type of system that people use this token for, I have seen how it would be basically great and no way it could ever be scam because it is decentralized after published, I did invested and made double return.

I am not saying everything is like this, all I am saying is if you want to invest 95%+ of your money into eth and ltc and that type of top 20 coins, that is definitely the right call, I wouldn't invest huge amounts to unknown coins, but if you want to gamble away 10-20 bucks nobody can blame you neither.

[Mariangle Blocker]

to observe if it's promising

[Mariangle Blocker]

I rarely invest in new altcoins due to the fact that a huge number of new altcoins are just scams, so I most often invest in top proven altcoins and therefore I do not need to study top altcoins since I already know their capabilities and technologies and this saves both time and brings me profit on an ongoing basis, and when I sometimes invest in new altcoins, then I usually invest in altcoins that conduct IEOs on top exchanges like binance, because I know that exchanges like binance will not conduct IEOs for scam companies.

That is is exactly what you should do when it comes to big time investments, however depending on how much money you have, putting 10-50- even 100 dollars into some small time stuff that you want to see succeed wouldn't be a problem.

You could always tell apart the real good ones and the real bad ones, I have seen one that has been worked on since 2018 for example, it is not even a defi, it is just a portion of it and it is basically a "hub" type of system that people use this token for, I have seen how it would be basically great and no way it could ever be scam because it is decentralized after published, I did invested and made double return.

I am not saying everything is like this, all I am saying is if you want to invest 95%+ of your money into eth and ltc and that type of top 20 coins, that is definitely the right call, I wouldn't invest huge amounts to unknown coins, but if you want to gamble away 10-20 bucks nobody can blame you neither.

sure~a small proportion is safe.

[Mariangle Blocker]

altcoin is definitely NOT over

[asus09]

To invest in altcoins then we have to look at the development of the coin if the price movement is good then we can buy the coin, but the risk remains and it is already our order, to be safer we have to choose the top altcoin so that the risk is lower and currently a lot of altcoins that we can hold because the price movement is very good.

Development is most important how to know with success or not some coins at the future, I think bad development will get bad result with coin keep lower price always, bad when getting good development by burning coin, keep buy back when coin have lower price and always looking for new partner become good way how to see coin on higher price, I think never buy an coin without good development and owner looks lazy how to get new feature with their coin.

[sana54210]

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 bought cryptocurrency early last year it would have been better for you. Just look at the price then, even the altcoins you are talking about were at low price, Ethereum that you’re seeing at $1,400plus in recent times was at $150 and a lot of people doubted that it is going to cross ordinary $200, but now it did.

Those times when the market is low and hovering at that low price , that is when it is best to buy, those times they are really much volatile and going crazy as they are doing now. You can still go for Ethereum now, since it hasn’t reached its last ATH as Bitcoin has done.

[blckhawk]

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?

Well, it's not that quite hard because you can choose among the top listed coins on CMC unless you are a fan of newly created coins and love taking a high amount of risk, yeah that would be a lot difficult. Personally, I choose coin in accordance to the volatility yes but mainly on the volume, the highest volume the better for me at least. That is why I personally taking ETH, BNB, DOT, and more 'cause they are really good coins to invest with. There could be potential on new coins as well but it is more likely you are mining a diamond, it's pretty rare.

[doomloop]

There are lot of factors I consider before buying an altcoin/s or investing on it. Some of these are; the exchange/s where it is listed, it's volume in market, the team that develop the project, the community, and etc. I would like also to know what other traders consider, so that I can learn from them.

Yes. It's also good to know how much you want to invest, its risk tolerance, the exchange or trading platform where to buy, community behind the coin, the technology and its value, where the asset is heading, and the project's whitepaper. There are a lot more. Just keep on doing good research.

There are obviously countless amount of things you should check before you invest into the projects, however if you could make a list on excel about what you should check, and then you find out about a new project, you could always go to that excel, check what you should be looking at, find that and depending on that excel and how much that project covers, you could potentially make some profit from it as well.

These days those check lists are growing even lower, back in the day we only invested into projects with very good teams, after that it became just having a team was alright, nowadays we do not even care about the team anymore because there are anonymous projects people invest into. This is why you need to update your list time to time but at the end of the day if you have a list and check each project against that list you would be capable of finding better projects.

[disconnectme]

The first thing is the quality of people behind the project, if the team promises to do something and are not technically sound to pull it off the project will fail, you need to have a project that have huge chance of success, the second is the price, is the project overvalued or undervalued, if undervalue you scale into it and another thing is the community, how vibrant is the community, if the community is sound and vibrant then the project will likely do well in future and make you money

[adekogbe]

I take a gander at the normal every day volume traded in that coin throughout a good timeframe. On the off chance that there is basically no volume previously and the trading just got as of late it very well may be a sign of more investors exchanging into that coin.

So if the price is too high now, it very well may be smarter to stand by a couple of month again and trust at a cheaper again once all the momentary traders changed out of the coin once more. Likewise taking a gander at past traded volume in a coin can help give a sign on how quick you could sell your positions once more.

[Cryptographian]

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.

I agree about the Whitepaper parts, but I stopped doing trades on major exchanges and only trade on smaller ones now like Uniswap. Uniswap is able to integrate smart contracts in a way that token creators can be creative (as seen with DeFi and ReFi spaces). For instance, SiFi can have 5% fees on all trades en automatically redistribute them among holders. I think those kinds of mechanics will be more common but they are not possible on Binance.

So I guess what I look for is that they are only listed on Uniswap so that I am sure the mechanics are in place.

I often look for low market cap and low total supply (<10 million).

[naikturun]

the right timing when buying and see market conditions first. or see news from a coin if they announce something on their platform.
or buying top 50 altcoins is also a good choice. no matter what happen market will always volatile, and we  should keep attention for that.
and make good decision from that, maybe you will lose but it better to do reasearch first than do nothing.

[firmino10]

I'm attempting to keep my attention on the best 20 coin list and quest for which coin can profit. I don't give a lot of consideration to the new coin or project since I don't know if the new project can prevail later on. Other than that, I couldn't say whether the new project's news will be correct or not, so I think if I can adhere to the main 20 coins list, that will be sufficient for me to examine and attempt to make a benefit.