How To Select The Right Altcoin For Investment?

[Good-Guy]

Since the inception of digital assets like cryptocurrencies, many people have invested in many mainstream cryptocurrencies like bitcoin, Ethereum, Doge coin, Litecoin, Bitcoin cash, Monroe, etc. There are m,any of such kind of cryptocurrencies. But by the passage of time, many token developers created many different kind of tokens. the fact of the matter is that there are so many tokens in development, but not all then kinds of token are reliable, as we know. There are so many programs that are basically associated with creation of tokens and finding the right kind of token programs could be a really big challenge.

I think that when it comes to selecting the right kind of token investment, we must first see the overall market cap of the token and obviously need to analyse the demand of the token in the cryptocurrency market. These things could be really hard to find out. Apart from all that, the overall trading volume of the altcoin tokens may also be a significant indicator that might help us to guide and choose the right kind of tokens. A token with a good trading volume might indicate that the token is being traded. Anyway, how do you select the right altcoins (token) when it comes to investing in cryptocurrency?

 

[Mika]

I have a simple strategy for crypto investment. I look for market cap, price history, use case, adoption, trading volume, and the market price. Generally speaking Ethereum is a safe investment, it is not only second crypto by market cap but also has a huge usecase, adoption etc. However, I cannot invest in Ethereum because it is too expensive. Even during the bearish market, it is around $1400. Therefore , I don't invest in Ethereum. I always look for cheaper coins. I consider ADA a good investment. It has a good use case, its adoption is increasing. Likewise I believe MATIC is also a good investment based on my market analysis. When investing on altcoins I also check if the coin uses proof of stake consensus mechanism. When the coin offers staking rewards you can earn passive reward from your assets. I also believe metaverse tokens are good assets for investment

 

[Shaf]

One advise you get to hear of you have been in the crypto sphere for long is that you should not get married to Amy altcoin, meaning do not develop an emotional attachment to it that you hold even when it's best to sell.

Bitcoin still remains the best choice for long term investment. But altcoins have the greatest potential to give life-changing returns on investment.

I like to look at the marketcap first of an altcoin. The lower it is, the higher the price can go. Another thing is the supply, and if it is fixed or increases over time. It's also a bonus of they burn tokens as the this creates scarcity.

Most of the best tokens will get hyped on Twitter or Telegram by those who are skilled in doing research. The more trusted the person is, the better it is.
This is one of the best and easiest ways as the work has been done for you. You should consider if it's worth buying at that price though. Some may buy and then shill it so others can buy their bags.