WHY DO WE BUY COINS WE KNOW NOTHING ABOUT!!?
Why, we normal people with few bucks, keep buying crypto coins we know nothing about?
Because we are normal people, with a job, a family, (hopefully) a decent social life and many chores and errands to do, 2so, in few words...we have NO SPARE TIME to study the crypto world!
And when we try a bit: layer 1, Blockchain, validator, ATH, EMA...whadddddafffff?????
Well, there is something very easy to do before investing our money...we can carefully read at least the 🤜🏽INFO🤛🏽 page that every Crypto ASSET has on Binance.
The basic infos we should care about are:
1. 💈MARKET CAP: it tells us the total value of a specific cryptocurrency (in US$) and can be calculated by multiplying the current price per token by the total number of coins in circulation.
If it is very low, it may means that the project is not so popular and that it could be very volatile
2. 💈MAX SUPPLY: it refers to the maximum number of coins or tokens that will be ever created. This means that once the maximum supply is reached, there won't be any new coins mined, minted or produced in any other way.
If there are thousand of billions of a certain coin, well, don't expect the value to rise so much (compare SHIBA INU max supply with BTC max supply)
3.💈ALL TIME HIGH: it's s the highest price a coin has reached in its history.
Maybe if you want to invest in a coin, you don't want to buy it when it is very close to its ATH (or maybe yes if the value keeps growing,who knows,we know nothing!)
4. 💈ALL TIME LOW: it's the lowest price a coin has reached in its history.
Maybe if you want to invest in a coin close to its ATL, you want to research why the price it's so low....maybe the project is dying and there is no interest on it (or maybe it's the perfect time for investing..lower than that it will never go,who knows,we know nothing)
5. 💈 INTRODUCTION : it gives a brief description of the project.
These are the basics. At least we can be aware of what we are buying !
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