What are the things to look for when buying Altcoin?

[Asuspawer09]

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?

There are already a lot of suggestions from other members here in the forum but here's my own method on how I verify tokens personally before investing in that token.

Probably the first thing that I check is coinmarketcap and search the token in if it is available on that website, if it's not available probably its too early to invest in that token, if its available check the market where that token is available if it is already listed is many exchanges or something if it doesn't list in probably around 5 exchange it's probably too early to buy the token.

Then check the token website, check the utility, is it a Defi token or something, check the website if it's legit, check the whitepaper. If everything checkout you could probably decide if your gonna buy it or not. I mean investing always has its risk.

[roosbit]

Things I consider when picking an altcoin:
- Is the coin listed on an exchange either cex or dex doesn't matter.
- Does the coin have any token burns(these stimulate price to rise)
- I also put into consideration the coins market cap (coins in circulation and supply)
- Not always but I also look at the blockchain the coin is using as this  gives me a hint on what transaction fees to expect

For newer coins I have to check if the project is unique and likely to survive, check team behind the project and any known companies in partnership with the project etc

[jajorforce]

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 should be the top exchange listed coin with a very high volume. If the price is already pumped, I think we should avoid it. Another strong point is high volume with a low price. 2018 coinmarketcap was 700-800 billion, now 1.5 trillion. Another point is now over 8k altcoins exist, which amount was only 2k-3k altcoins. Now cryptocurrency is very volatile, so take your actions carefully.

[TelolettOm]

the main thing to note in buying altcoins is not far from the existing market ranking, stay away from new projects that rely on fomo, and check the ATH of one coin whether it has the potential to reach new ATH or not,
if I want to buy altcoins, I will take the top 10 coins in CMC, even though it is a little profit, it is clear that the profit will be obtained

Before that we buy, of course we decide. what is the purpose we buy? want to trade or invest? actually we don't need to stick with the top 10 Coinmarketcap.
High volume altcoins and listings on a large market like Binance can be an indication for trading. As for investing in current prices, isn't it the right thing? the price of altcoins has experienced a high increase at this time. If we start investing now and want a new high risk ATH because all of them have been able to penetrate the new ATH in recent weeks

[91254vvpatel]

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 should be the top exchange listed coin with a very high volume. If the price is already pumped, I think we should avoid it. Another strong point is high volume with a low price. 2018 coinmarketcap was 700-800 billion, now 1.5 trillion. Another point is now over 8k altcoins exist, which amount was only 2k-3k altcoins. Now cryptocurrency is very volatile, so take your actions carefully.

That's exactly what you have to say. And it is best for long term investment. But not all alt coins can be listed instantly on a large exchange. It's not that they don't have that ability. It is difficult to get listed on a large exchange immediately even if there is capacity. And even if it happens like siba inu, it becomes difficult to get it at any cost.

[Sendi blackspade team]

That's exactly what you have to say. And it is best for long term investment. But not all alt coins can be listed instantly on a large exchange. It's not that they don't have that ability. It is difficult to get listed on a large exchange immediately even if there is capacity. And even if it happens like siba inu, it becomes difficult to get it at any cost.

That's because each exchange has a way of choosing which projects to list on their exchange. indeed not all projects have that capability. on a typical Shiba Inu, it looks like something different. although we haven't seen anything major happen. but seeing that once it is listed on a big exchange like binance, the trading volume of SHIB tokens increases so much.
I hope this time there will be more projects that have the ability to be listed on the big exchange quickly. because if it takes too long it is also not good for project market development. it could be that they will lose the competition and lose investor support.

[RockCryptoWorld]

1. IDO
2. NFT
3. 2021

If that suits you, then I suggest you to take a look at Deedy Digital, they will have an IDO and NFT platform soon where you can trade, sell, buy, rent NFTs, enter lotteries etc.

[Fire me!]

I think you could start by asking yourself why do i want to buy altcoins? Pending on the answer you would have to look at different thing. What is the risk i am willing to take what is my horizon? Etc.

If you are in it for the long term look at established coins that have a good history. If you are looking yo get rich quickly go with the flow.........and hope for the best. The selection of voins is the last thing to do and also have a plan and stick to it soemotions do not get the better of you.

[Rimueng]

In my opinion, what to look for and pay attention to when trading on an altcoin is to see the potential of the altcoin. If the altcoin you want to buy has the potential to be better then it is best to invest in it, another thing I have noticed is the Altcoin development team, if there is a team that already has experience and is well known for being great in digital currency development then I will be there. inside it.

[guydin]

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 question for you is whether you want fast incomes and big risks or want to invest for the long term with lower risks.
If you are tolerant with risks you just should follow trends and news.
If you are a conservative investor, you should rely on fundamental analysis. Try to investigate docs, ideas, team members, partnerships, community and tokenomics, of course.

[DOH!]

So what should be the main focus?

Now, investing in altcoins is under oversold pressure, which means you need to predetermine the sentiment, accept the volatility and put your absolute faith in that coin in the future. Determining your investment stance is important. Some people don't usually do this and they jump from coin to coin, they just get more damage.

[barabeku]

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?

Apart from banal investigation of social media, development team and tokenomics, it will be great if you look through the smart-contract. Of course, it is quite difficult if you are not a programmer. Nevertheless, there are some points that you can check as well and make some conclusions. For example you can switch to page “Write contract” and check if there is a function “mint”. If there is such a function, it means that an owner can call it and mint as many tokens as he wants.

[Chuky92]

That's true, with the number of coins and tokens circulating in the markets makes it a bit tough finding good projects to invest in, to add to this, a lot of projects are already on their way. In addition to this, it is also good to point out that, many of these listed projects are already dead.
Going back to the main question, in as much as it might be hard to know about good coins to buy or invest in, it is also possible to Invest in the good ones.
To begin with, you have to know if it is an already listed altcoin or upcoming, if it is an already listed altcoin then know the team plan towards the project and how much of their roadmap that is being followed, this will give you an idea of what to expect. On the other hand, if it is an upcoming project and you are okay with that they are promising, you can invest and sell when in profit, then wait for price correction, from this price correction or dump you will be able to understand the strength of the team, their experience and how hard working they are towards staying on track. If they are still on track while developing, then you might want to buy back again or move to other coins like ETH.

[TastyChillySauce00]

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?

myself, my main focus when I want to buy some altcoins is; what I noticed first was the altcoin platform, then who was the developer and the team that supported the growth of the altcoin, then I saw the movement in the market, if it has good potential then I will invest in that currency

I was always seeing if the developer behind the project actively growing the community and partnership with other popular projects. partnership will help the project either for short term and long term, also whether the project gets listed in a popular exchange too or not. Most of the project that have become successful mostly get listed in a popular exchange because it also helps them growing their popularity.

[goolesby]

Altcoins are lucrative investment assets, but not everyone knows how to invest in an easy and profitable way. One investment method that matches the nature of altcoins is Dollar-Cost Averaging (DCA). By following the Dollar-Cost Averaging (DCA) investment method, investors can protect themselves from price fluctuations and the risk of loss. DCA itself is not a new strategy in the investment world. Various investors have used this investment strategy on various other assets.

[juliepower]

Things to look for when you buying Altcoin :-
Firstly, You have to little bit of knowledge about coins before you invest in any .Then check the details of trade coins volume chart and I suggest don't put more money in buying Altcoin that you can't afford to lose, so research thoroughly before you invest amount of money and find the best Altcoin for you. 🙂

[poodle63]

When we want to buy altcoins, we first see a stable market movement, a strong analysis of each alcoin volume is needed to see the altcoin season has started to decline so it's a little risky for us to buy at this time,

i usually see the amount of holders if the price seems to be at the bottom, just see the amount of holders in etherscan if it keep increasing day by day then it has the potential to eventually explode because that kind of project just needs the right timing.

[meldrio1]

Your main focus is to research the project, read their whitepaper, roadmap, what is the use case of a coin, not just investing without looking the project. Yes it's difficult to find a good coin but research the project is only way that we know if it has potential.

[glendall]

In buying regular altcoins I see the movement of their sales graph, supply, and ath, where when they reach a new ath we can easily predict when we can buy the token again, next I consider whether to enter the big market or just a normal market

[NeverSop]

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?

1. For a new altcoin project: For me, buying altcoins is like buying a product. You need to check who he is, what his product has, what is the roadmap, how many people are developing the product... etc. It is the most important step to determine.

2. For the coins already on the market, I only focus on the top coins, user base, trading volume, platform and product. It is important to know the nature of the market, the risk of price bubbles, etc. manipulation.