If you hear someone talking about a very good coin with the potential to increase in price in the future, you should verify that information by visiting Coinmarketcap.com.
To search for coins, enter the search box on the right corner of the screen.
This is a website that compiles information about all coins on the market. If any coin you are looking for is not listed on coinmarketcap, I advise you to give up on investing in that coin.
To see the coin list rankings, go to “cyptocurrencies” -> “ranking”.
Here you can choose any coin to see the price chart and information. For example, I choose to see Binance Coin (BNB).
Next, you look at the current price fluctuation information compared to the past of the coin in columns 7D (week), 1M (month), 1Y (year) and All. Based on this data, you will know where the price of that coin is, whether to buy it or not.
If the current price is lower than the previous past price, then it is time to buy.
In addition to looking at the price chart, you need to consider the following criteria to evaluate whether the coin is good or not:
1. Good liquidity: you see if the market capitalization (market cap) of that coin is large or not. The acceptable level is from 500,000,000 USD or more.
2. Has a large community, has website information, has strong potential: you need to see if that coin has a community or not, has website information or not and which unit sponsors that coin. For example: BNB is developed by the world's largest crypto exchange Binance.
3. Present on binance exchange: Binance is a top 1 exchange in the world, if a coin is not present on binance, the liquidity is not good, you should not buy that coin.
After you have checked all the information and selected a list of good coins that you want to invest in, now it's time to buy that coin on binance.