⚪To buy a coin before its growth, you need to use a strategic approach and conduct thorough analysis. Here is a step-by-step plan:
1. 🔴Market monitoring and coin selection
🔵Use analytical tools
CoinMarketCap and CoinGecko: Track coins with increasing trading volume.
LunarCrush: Analyze the social activity of coins.
DexTools: Find new coins on decentralized exchanges.
2. 🔴Pay attention to events:
Listing announcements on major exchanges (Binance, Coinbase).
Network updates (hard forks, launching new features).
News about partnerships and integrations.
3. 🔴Studying the coin
🔵Conduct fundamental analysis before buying:
Whitepaper: Study the project's goals, technologies, and plans.
Team: Ensure that experienced developers stand behind the project.
Community: The more active participants, the better (check Telegram, Discord, Twitter).
Tokenomics: Learn about the token distribution to avoid projects where most tokens are held by the team.
4. 🔴Participate in early sales
Launchpads: Binance Launchpad, Polkastarter, and TrustSwap offer coins at their launch stage.
IDO/ICO: Sign up for notifications about initial sales on popular platforms.
5. 🔴Technical analysis
🔵Look for entry points:
Coins that are at support levels have greater growth potential.
Signs of a 'breakout' on charts.
Trading volumes: Increasing volume indicates heightened interest.
6. 🔴Buying the coin
🔵Choose an exchange:
For major coins: Binance, Coinbase, Kraken.
For small and new coins: Uniswap, PancakeSwap.
7. 🔵Create a wallet:
For tokens on Ethereum: MetaMask.
For Binance Smart Chain: Trust Wallet.
8. 🔵Exchange tokens:
Top up your account with USDT, ETH, or BNB.
Find the desired coin and buy it.
9. 🔴Monitoring and exit
Set profit targets (e.g., sell at +20%).
Set a stop-loss to limit losses.
Follow the project's progress and update your strategy.
🔴Tips and risks🔴
1. Do not trust 'guarantees' of growth from unknown individuals
‼️ IMPORTANT ‼️ For example: your acquaintance said to buy their or someone else's token because it will give 100x. But when you buy it, the creator of that coin will withdraw all the liquidity, and you will be left without coins and without money ‼️
2. Avoid coins with low liquidity and suspicious tokenomics.
3. Always diversify your portfolio.
Invest cautiously and focus on a long-term strategy to minimize risks.