If you’re looking to break into the crypto market and don’t know where to start, have we got the article for you. After all, looking at TikTok and Reddit forums won’t always guarantee you the safest outlet of reliable information (although it has on occasion). To succeed in the crypto market, one must learn to study the intricacies that dictate market value and reach, viability, reliability, and value.
With thousands of variations of coins on the market, it can be difficult to think logically and peruse through them all, no one is asking you to spend the entire night researching SHIBA or DOGE to determine their market feasibility in the future and understand the intricacies and their projected earnings over the foreseeable.
This will teach you to look beyond the dollar signs next to the price, and instead study the fundamentals of the coin, the community, and the way that hype works in the modern world.
Research The Projects They Come From
One of the weirdest ways we’ve seen people decide on a coin to invest in is by laughing at the name of it and buying it immediately, only to find to their surprise that it tanks months later. These meme coins are the bane of an investors existence as you scratch an inch below the surface and find nothing but sand holding it up.
Essentially, stable coins are stable because they come from projects or are part of projects that are solid and in demand. Looking at ADA for instance, this coin is part of a number of frameworks for web 3 development, and therefore has a little more credence for consideration.
DOGE on the other hand, is purely and simply a meme of itself – which is why it had such a remarkable crash.
Lesson: Do your research and find projects you want to invest in! Simple as that
Look At The Market Cap & Trading History
Always keep an eye on the trading history of a coin, relatively new ones will take time to stabilize so bear that in mind. The market cap will also tell you the inherent prospects of an increase in value over the long term.
