What questions should I answer before I buy a new currency

[sagi6566]

Hello friends, I'm new to the world of altcoins
I see lately a lot of coins exploding by thousands of percent
What I need to know before having the explosion
What questions need to be asked to know that this is going to be the next explosion
Thank you so much everyone

[cryptoaddictchie]

Hello friends, I'm new to the world of altcoins
I see lately a lot of coins exploding by thousands of percent
What I need to know before having the explosion
What questions need to be asked to know that this is going to be the next explosion
Thank you so much everyone

For a beginner, I think you must make sure that the coin or tokens that you are gonna entered is legit. Try to find as much as possible the team credibility or the developer of the proejct. Yes its really a hard task for a newbie to distinguish scam from legit. But this is part of the challenge, you need also to check the project capability and goal if their platform is good or have potential or not. Many factors actually. But you can always check out and do deep dive of the projecy through the Web.

[Upgrade00]

If you're looking for a coin which is going to explode in value, you may loss out as such cases are sometimes a result of market manipulation (you'll need insider information) or simple fomo. As a newbie, most of your actions would be reactive, and you'll end up buying close to the top after the bull run has started, and selling on the way down.

When looking for a coin to invest in, rather than looking for one which would give you 2×, 3× or 4× within a few days or weeks, search for a coin you will be comfortable holding in a year or two or ten. This entails checking the fundamentals of the project and its application.

There has been lots of projects that free rapidly within a short period of time, but eventually crashed and fizzled out.

[SquirrelJulietGarden]

New cryptocurrencies. You need to clarify what are new cryptocurrencies.

New in your portfolio or new in the market. If they are new cryptocurrencies on the market, they are new born cryptocurrencies.

About them, risks must be awarded of
- Capability of developers are unknown.
- Their plans are only on paper (White paper, roadmap) and you will only know what they can do, achieve with time on the market and their real development, product, partnerships.
- I would prioritize to invest in projects with more than one year old.

It is about your risk management, taste of investment and your personal characteristics.

[mk4]

If we knew how to easily get into these 1000x projects really early, we'd probably be in private yachts right now lol. The reason we're not super wealthy right now is because finding these gems are definitely not easy, and investing in money to them is high risk high reward.

[cabron]

For a newbie who considers buying altcoins could mean that you are looking for the next coin that will rise more than 100x. It will take months to years.

You might wanna ask yourself if you plan to invest for long term or short term and then consider the question is the coin I'm buying going to have bigger value in the next few months to come or in the next weeks, days, or hours.

[libert19]

No one can say that, some are outright p&d, if you are chasing pumps you will get burned. Try to find coins with good fundamentals, teams with experience, bringing something good on the table and you might just get lucky.

[hd49728]

No one can say that, some are outright p&d, if you are chasing pumps you will get burned. Try to find coins with good fundamentals, teams with experience, bringing something good on the table and you might just get lucky.

Find good coins with fundamentals and team experience are not enough. Investors after that have to be patient and confident with their investment choices.

If they give up, lose patience because their chosen coins are not rising while many shit coins (that can be worse than their chosen coins) rise a lot, they will exit with draw, loses and jump to shit coins. They will end with losses in shit coins. It is hard to believe or accept that after they jump to shit coins, end with serious loses, their past chosen coins (from good fundamentals) begin to pump considerably.

[pooya87]

You shouldn't just look at the aftermath and imagine the possible profits you could have made. You should look at the whole picture and also imagine all the money that you could have lost.
When you see an altcoin go up 1000% in a short time you should know that it is not natural, it is a fake rise that is known as pump and dump but as you can see the name has 2 parts, it is not just pump it is a pump AND a dump. That coin that went up 1000% will also be dumped equally to go back down and in most case seven lower than the price they started at.

It is extremely hard to make profit from pump and dumps because they are unpredictable. At any moment the manipulators could choose any shitcoin to pump it and at any moment the pump can run out of steam and start being dumped. Sometimes the dumps are very catastrophic that you can't even react to sell before you are at a big loss.

[aoluain]

This is typical newbie thinking. They are attracted by the unnatural rise of a project
based on "when lambo" get rich quick, pump n dump movements.

There are over 8000 coins with very little behind them, its Dogecoin and Polkadot
now and in 6 to 12 months it will be something different.

A lot of it is fueled by Youtube influencers using their audience to help themselves.
Just type "altcoins to buy now" into Youtube and you will be enlightened

Forget about Altcoins, and focus on the big flashing orange BTC symbol in the room......

If you are patient enough you will be rewarded

[Crypto Eng.]

You should check new cryptocurrency projects when they are launched, monitor news and tweets, follow some analysts and recommendations channels, as promoting any cryptocurrency contributes significantly to raising its price.

[lovesmayfamilis]

Since you write that you know little about cryptocurrencies, nevertheless, you have a clear desire to invest your money in those projects that guarantee a profit, ask yourself one question first: How rich am I to get used to losing my money? Because cryptocurrency is unpredictable, and without any experience, you will not have a win.
The second question sounds like this: How much time am I willing to spend to understand all the aspects of investing, trading and, in general, how much time am I willing to devote to studying? As a result, if you are not ready to learn, then losses are inevitable. What is more important to you? Constant failure, or diligent reading, education, and only then meaningful investment.
After all, you will not argue with the fact that losing money is much easier than earning it.

[Timelord2067]

It doesn't matter what they hype surrounding a coin might be - You should always check that a coin has a dev team, is listed on two or more exchanges, has an android wallet as well as a PC wallet, an [ANN] thread here (and a website elsewhere).  A steady moving block-chain that isn't succeptable to whales coiming along and mining the death out of a coin.  (Little or no pre-mine).

Avoid ICO's / IPO / anything else where there is a "pre-sale" - Pre-sale = Pre-mine = Get rich quick for the Devs who will dump their bags and run.

[BitKongy]

Many newbies are starting their crypto adventures with small projects that have high risks today because they believe they are spending less money on something that will probably become bigger in weeks, I newbie I knew went ahead to invest on safemoon after advising him to buy top 20 altcoins, my advice is invest only what you can afford to lose

[The Cryptovator]

Just be careful when you are wondering to enter altcoin markets. It's because there are a lot of shitcoin exist in the alt market which is risky to invest on. At first, you have to look at how the potential project is and who is behind the project. The core team either active or inactive and is developing its roadmap or not. I have remembered correctly once a invest in a shitcoin and the team disappeared after a few days and I lost a lot. You need to learn more upon entering on altcoin market and research more. Make sure there active strong community behind an altcoin where you are gonna invest.

[sujonali1819]

Choose always top ranked altcoins. (1-20 is good at this moment). Then try to find it’s past market history. (I will not suggest the new projects). Try to read there all social media and ann threads to see how they are active for Marketing their project.

Try to follow the charts. It is important to enter at a good position. The choose something what you thin better and hold it till enough profit.

Risk: Altcoins is very risky. If you have not much patience you should go forward with altcoins.

Funny suggestions : Try to find a project which has a background like Elon musk or Bil gates 😀😀. Most provably those coin able to give you more than 100x profit like DOGE . Lol

[Fortify]

Hello friends, I'm new to the world of altcoins
I see lately a lot of coins exploding by thousands of percent
What I need to know before having the explosion
What questions need to be asked to know that this is going to be the next explosion
Thank you so much everyone

It's impossible to predict what cryptocurrencies will shoot off like a rocket, as we see with Dogecoin - it's currently part of a craze mainly driven by tweets by Elon Musk. While it has many more units in circulation than Bitcoin, I see it accepted for actual useful transactions in very few places, this makes it much more gimmicky and a pure speculative gamble. There are different ways you can approach this - last Saturday if you were paying attention, followed the news and saw Elon - who caused previous spikes in Dogecoin - was going to hit a prime time slot in USA tv, then it would be a fairly solid bet that there would be another spike. You could have got in, taken 10-30% profit and gotten out for easy cash, but you never know when the market will crash. Alternatively you could look for coins that have "unique selling points" and serve a particular need that is badly met by other cryptocurrency. ETH for example addresses expensive transaction fees suffered by Bitcoin users.

[posi]

Hello friends, I'm new to the world of altcoins
I see lately a lot of coins exploding by thousands of percent
What I need to know before having the explosion
What questions need to be asked to know that this is going to be the next explosion
Thank you so much everyone

I believe the first question you need to ask yourself as a new investor is,
1) Why so many altcoins in the market?
2) Why did some altcoin quench off the market at some point?
The answer is 98.9% of all altcoin are not advisable when it comes to investment because they are pump and dump coin so the coins you said that exploded are probably hyped thats the reason why people said altcoin are highly manipulated.
But if you like to invest in new coin, I will advice you go for those that are already listed on big exchange like Binance, kucoin etc, coin with good historical data, experience team and invest in the coin when the market is full of panic.

[tyz]

Hello friends, I'm new to the world of altcoins
I see lately a lot of coins exploding by thousands of percent
What I need to know before having the explosion
What questions need to be asked to know that this is going to be the next explosion
Thank you so much everyone

My best tip at the moment: Wait with the entry until the market has corrected a little. Prices are way too high at the moment and it is only a matter of time until prices correct a little or even more.

Then I would invest in a project and ask myself the question when choosing, which project has a specific purpose which is needed by companies and will this platform also be used by those companies?

[Raflesia]

If you don't fully understand it, don't try to be interested in altcoins, especially if you only see from the explosion while you don't know the background of the project, remember now that many shitcoins on the bsc network they buy with hundreds of millions of tokens but only the end result will only be. becomes rug pull and this really traps you when it is difficult to sell it, so don't look at the explosion because even potential coins when the time is at the pump will explode too, that's safer means the risk will not be as big as shitcoin in general.
I've seen a lot of altcoins explode but eventually die out of the team.