There are many things to consider before investing in crypto. Because sometimes some of your wrong investments can lose you money. So before investing you need to consider some things. Especially when you buy any crypto it is very important to look at some important things before buying. So that you don't fall victim to fraud or big losses. Today I will try to write about this with you. Hope this will be very helpful for you. Below is a step-by-step explanation about this. Let's discuss about this.
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The first thing we need to focus on before investing in any crypto is to know the purpose and use case of the project in which you are interested in investing in the coin. Besides this project Why was this coin created? Besides knowing about this does it solve any real problems? Try to know details about that. Moreover, where is this project being used or where can it be used in the future? Try to know details about this. If you know more about them then you can make videos on these coins.
Also, the more important thing is that you try to know the team and developer background of this project who are behind the project? How popular are these people or have they been involved in any other projects in the past or have they had experience or work with any projects? Then try to read the whitepaper of this project. The whitepaper details the project's objectives, technology, token economy, etc. Just reading this shows how serious and professional the project is.
Another important topic here is Token Economy or Tokenomics. If you know about this then you will get a better idea about that coin and also you should see how is the total supply of the coin, what is the current supply? Then from here you will get an idea about the price of the coin as well as its acceptance. Where will the coin be used? And also try to find out whether the coins of this project are in the hands of any holder. If a holder has more of it then they can later manipulate its price.
Also try to know the details about the coin's market cap and trading volume. Because keep in mind that a high market cap means relatively stable. High trading volume means the coin is being actively traded. By this you can choose the right coin. How is the coin's community? You can know more about this on their social media. Like Reddit, Telegram, Twitter etc. You can follow their official accounts. Then you can always know their updates. Are there any hype or scam complaints? Also try to find out details about whether this coin is listed on major exchanges. If a coin is listed on a major exchange such as Binance, Coinbase, it is usually somewhat safer.
If you know in detail about these things which coins you can invest in then you are somewhat safe. This will help you in making huge profits in the future. However, it is difficult to predict what will happen in the market. But if you can invest in this detailed way then hopefully you will be much safer from the big losses that other coins have to deal with. This is not financial advice though. Moreover, you will invest at your own risk by doing your own judgment analysis.
