The 3 Step Beginner’s Guide to Cryptocurrency Research

in #cryptocurrency7 years ago

Cryptocurrency Research

If there’s something we’ve all learned since cryptocurrencies starting appearing at every street corner, is that you can easily fail and lose your money if you pick the wrong ones to invest in.

If you are investing in altcoins, fundamental analysis will help you choose the ones with the best long-term potential and the ones that can bring you some profits.

First of all, you should prepare for extreme volatility in this ecosystem. It is often that cryptocurrencies surge up to 40-50% in a single day.

Keep in mind that the cryptocurrency market is also driven by emotions, and the fear of missing out (FOMO for short) is a huge factor when you consider investing in a coin.

Try to master your FOMO and not freak out and sell other assets just to invest in a single coin when you’re seeing big spikes on the charts.

Analyze and decide based on as much information as you can find online before making an investment.

So how do you go on with cryptocurrency research?

The first thing you should know is that all investments will have their pros and cons. Don’t be discouraged if things are harder at the beginning. If you put some effort into it, you will develop skills and observe investment opportunities over time.

Firstly you should take into consideration the deal-breakers. I’ll point them out below, and if they exist, you should not invest any more time in those cryptocurrencies, as they are most probably going to fail.

Finding the right information about cryptocurrencies can be challenging for a few reasons:

  • Either the information doesn’t exist yet or it is very hard to find
  • Sometimes there aren’t any means of verifying if the source is reliable or not
  • Understanding some parts of the information can be beyond your technical abilities
  • It can take a lot of time to read, understand and assimilate

There are a lot of platforms out there, that have information on different aspects of every coin. For this article, we’re going to use coincheckup.com because it has a large amount of information on the listed coins and will ease your cryptocurrency research up to the point of just going there and seeing 70-80% of the important information on any single coin.

When researching anything, you should start with a set of questions that need answers. The same happens with crypto. We’ve prepared a list that should act as a framework for your research.

Read the rest of our cryptocurrency research guide directly on the CoinCheckup Blog

Save it, print it and use it a checklist whenever you’re researching cryptocurrencies that you’d like to put your money into.

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Love your website, keep up the good work and thanks :)