Virtual currency research guidelines I’m betting will pay off in the long term! Digital assets can be tricky, but you should have some kind of trading research standard that works for you!
For mine, time will tell but my horizon is 1-5 years to HODL. My day trading skills are zero & breaking even would be a good day for me!
I am no financial adviser, just a hard working dad keeping my ear to the ground for future opportunity.
My Simple No-Nonsense Tips:
Everyone has there own way to do research and you will need to find your own and not be a bucket head and use mine! ;-0
#1) REAL PROBLEM – Are they trying to solve a real problem for the mass population (you/me), or just capitalizing on the popularity and hyping a coin?
#2) WHITE PAPER – Do they have one and can you really understand how they are going to bring value? If I do not at least comprehend the basics, I’m out.
#3) GITHUB – Are they active in pushing the project forward? Big ideas are fine, but without action, they stay on paper.
#4) TIMELINE – Staying within their own deadlines is important, my horizon is 1-5 years, not 10-never!
#5) SOCIAL – Do they have a real following of investors and keep in touch with regular updates on the project?
#6) TEAM – The greater the vision, the more specialized experts they will need. How qualified are the leaders?
Many are day trading virtual currency and have no idea what the projects are about, but still doing well. I know my strengths & weaknesses and short-term day trading crypto or any asset is not one of them.
MY FAVORITE DIGITAL MONEY RESOURCES:
Be careful and do your own research, not just take advice from other people including me! It’s hard for even me to believe, but mistakes I do make. This technology is new and growing, so are the number of people trying to scam others – “be careful”. Remember, if it sounds too good to be true – it probably is a scam.
DO YOUR OWN VIRTUAL CURRENCY RESEARCH:
I must confess that it’s hard for me to sell any coin, that I have bought after doing hours of research. But keep in mind the market evolves fast and many coins will be gone.
These guys have a great perspective on the crypto-currency market, with no hype or coin shilling. This is my top site hands down and its on Youtube: Ready Set Crypot