So you want to start investing in cryptocurrency but do not know where to start! Here are 5 steps to get you started:
1. Learn about all the different cryptocurrencies or cryptos, how they are ranked and their market cap value. For this, head over to Coincap.io, or CoinMarketCap.com or Coingecko.com.
2. Identify the cryptocurrency or altcoins that interest you, taking into consideration their price etc., Start by looking at the tokens that are in the top 10
3. Each cryptocurrency, altcoin, token or coin will have a website, that will provide information about their Whitepaper and their Roadmap for the future. The White Paper must convince you of the cryptos' use-case. In other words, what purpose will that crypto serve? Is it meeting a real need? What is its use-case? Does it have longevity in the crypto space because of its use-case?
4. The cryptocurrencies identified will also have dedicated communities where you can get peer-group information, support and even ask questions about particular cryptos. This will includes sites such as Reddit or Telegram channels or Discord groups where you can learn a great deal more about particular cryptos.
5. Once you have your information, you will need to do more research to satisfy yourself that you have found your gems or even the next Apple. What is the calibre of the team behind the cryptocurrency project and how qualified/ experienced are they to successfully develop it further?
You will also want to know which prominent companies or individual investors have already invested. More importantly, you will need a strategy and that strategy will largely depend on your crypto investing goals. In other words, what is it you want to achieve in the short/medium/long-term in the cryptocurrency space?
So, there you have it, 5 things you need to know to get you started in finding the right cryptocurrency, altcoins, or tokens to invest in.
You can learn all the above and more in the A-Z Crypto Investing Guide.
Next: What Is A Crypto Exchange
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