Hi, welcome to EnnyFinance. Today I want to give you some very important tips on how to know the best crypto to invest in.
I am also a crypto investor and I would not want you to put your money on cryptocurrencies that would sweep away your pockets and leave you with nothing. Many crypto investors are losing hundreds of thousands of dollars every day because they don’t have the knowledge of what I’m about to share with you now.
Of course, I’m not saying these tips are a guarantee that you won’t lose any money in cryptocurrency (everyone does), but I can assure you that if you master these few tips I’m about to share with you, then you’ll become a better crypto investor— far better than you used to be.
So, let’s get on…
#1. Consider the present value.
Before you invest in any cryptocurrency, ensure you have idea of what the current value is. I personally believe that cryptos with higher value has an advantage over other lower ones because they have gained stability in the market over time.
I’m sure you wouldn’t want to invest in a cryptocurrency that rise today and vanishes tomorrow. So, the price or current value is the number one consideration.
#2. Read the trend.
If you want to know the best cryptocurrency to invest in, you must not only look at the price but also the trend. Don’t worry you don’t have to understand statistics or some sort of calculus 😁
What you have to do is simply go to coinmarketcap.com and search for the cryptocurrency you would like to invest in (There are 10,000+ cryptocurrencies on coinmarketcap.com). You should see some information about it there. Click on “Statistics” and then it will show you a graph (some coloured zigzag lines).
The line shown here is the trend at which the crypto is performing in the market. The green line means profit while the red lines means loss.
So before you buy the crypto, look at the trend. Don’t buy if it’s making more losses in the last seven days. Although this can also be leveraged on but that is not covered in this post.
When you have a cryptocurrency showing this kind of trend please don’t put your money in it, yet.
#3. Check the market capitalization.
The market cap is simply the net worth of the crypto as determined by the blockchain. This is also determined by the number of investors who has put their money in that cryptocurrency.
I would advise that you choose a crypto with very high market capitalization. The reason is simple. It is rational to buy shares in a company with high liquidity.
#4. Check if it’s listed on a large crypto exchange.
This tip is more of a security tip. If a cryptocurrency is not listed on the popular crypto exchange platforms like Binance, Coinbase or Blockchain, it may mean that the cryptocurrency has not been verified or authorized, and this may be a threat to your money if you buy them.
These are basically the few tips that can help you decide which cryptocurrency is best for you to put your money in. If you need a one-on-one training on cryptocurrency trading kindly contact me.
Meanwhile, I’ll like you to give your comment and also share this post.
Thank you 🤗🤗
EnnyFinance 