What really matters when selecting a coin for investment.
Many crypto new investors join the market with a dream of receiving big profit in short span of time but the fact is that it doesn't happen for majority of user. Infact it coast you a big loss. One of the main reasons of big loss is due to lack of knowledge, skill, blindly following the influencer without doing your own research, greed of getting more profit etc. That's why it is important to do proper homework before selecting a coins.
Now first things which come in our mind what really matters when selecting a coin for investment. The simple answer of this question is to have funds availability for investment. You know about the objective of investment. How much profit is acceptable for you. It save you from greed.
You may know the used case of coins. Normally coins with good used case easily multiply your investment. Same way, you must know about the tokenomics of coins. What is total supply of coins and circulating supply. White paper study will help to ease your decision. Also checkout, how coins behave in the past what other influencers think about the coin. You must aware of market trends, events and news as events and news play a vital role in deciding the fate of market. Beside this, you must check which company audited the coins and what are the findings of coin audit.
If you are the guy who want to earn big profit than you may spend a little amount of your asset in meme coins. Meme coins is high rewarding but it is also highly risky. Always try to invest in bluechips coins and only portion of investment may be done on meme coins and new projects which have good used case. What is your opinion my friends?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.
https://twitter.com/jewellery_all/status/1715051563247628797
It is quite true when it comes to people's attitude towards following something that is off rumour and has high flow of people rushing in, although the chase is not good enough to catch on.
When it comes to selecting a coin, the most important thing to me to have is that to know about market conditions and demands, judging the potential if the bet would be cost- effective or not.
Because, there are bluffs everywhere.
selecting the right coin is a very important and for this doin some research goes a long way.
It help one build wealth over time
Till now I still have my doubt about meme coin
https://twitter.com/LovingGirlHive/status/1715275070296518974
https://twitter.com/lee19389/status/1715309443410440433
#hive #posh
One thing I have learned from the experience of the last seven years is that whenever one has to invest, it is very important to know about the market cycles and then one's supply decreases. Should be then it can be pumped.