Those who invest in cryptocurrency know that the number of coins that have become available in recent years has multiplied impressively. That doesn’t in any way mean that every single coin should be worthy of an investor’s attention. Some of these coins, sadly, are nothing more than money-making scams perpetrated by those who are seeking a trendy way to get rich quick. Others still might be well-meaning but ultimately don’t have what it takes to cut through the stiff competition in the crypto realm. What investors must do is to find ways of spotting the coins that have powerful potential to be more than just an also-ran. It stands to reason that the coins that stand out from the crowded pack will be the ones with the highest value going forward.
Not every crypto coin is going to make it to the level of Bitcoin and Ethereum. As a matter of fact, very few wills. But the theory of survival of the fittest posits that there will be coins that fight off the competition and display the staying power that investors will crave. For those who find the whole world of crypto investing a bit too daunting or confusion, there are trading robots available to you, such as Crypto Code, that can solve your problems and give you the desired exposure to these assets. If you dare to look for the best bargains in the cryptocurrency world, here are some of the things you should be seeking.
It’s understandable to look for the newest coins as the best bargains because they will inevitably be the cheapest in the early stages. The problem is that these coins have displayed little to no success in the market in their early stages, so you are basically taking guesses about how the market will respond to their new idea. Just because you think the idea behind a certain coin is foolproof, it doesn’t mean the rest of the world will also.
2. Track Record
If the coin has been in existence for a decent amount of time, you should have some statistical samples to back up your hypothesis on their value. Look for a coin that has been steadily marching upward in value, even if it has taken a drop or two. These coins could be the ones in for a jump when lesser competitors fall out of the picture.
This is a little bit more difficult to measure, but the buzz around a certain coin should be palpable. You can check out social media to see if anyone is talking about a certain coin or look for any examples of the media giving it some press. It’s even all right if some of the buzzes are negative. If people are talking about it and not indifferent to it, the coin in question could have some legs.
It is far from an exact science to predicting which crypto coins are ready to break out. Using the tips above should help you narrow the field down to a more manageable level.