Crypto investing is something new to our investing world and investing in cryptocurrencies caarries risk and are termed as risky assets in the global investment world.
Thus how to invest is a most talked and wondered topic on town.
There are few steps to be followed for investing in right way.
1) Coin-gecko/CoinMarketCap : This is the website which 95% crypto participants use for getting an overall glimpse on crypto market performance and the specific coin details. Search for a coin inside and yo will get all the relevant info about the specific coin. It includes, price chart, market cap and its ranking, all time high and lows, about coin, where all markets it is listed, which sector and category it belongs, its volume, everything at one place.
2) Website : Website of a specific coinproject gives us a glimpse all the necessary details and acts as bible of the project.
3) Team analysis : This section is important to know whether the project is actual or fake. This details is usually given in website and analysing them and previous projects gives us a idea about credibility about the project.
4) Social Media Analysis : Checkout their social media handles like twitter/instagram etc to know their activeness and realibility and hype of the project.
5) Audit : Checkout if the project is audited which gives a assuarance of the sustainability of the project. This shows the flaws and prevents any rugpulls if any.
6) Narratives : Checkout the recent trend, hype and outcomes upcoming to analyse the narrative bid to pick up next like AI, RWA, MEMES etc.
7) Grants : Checkout if project have allowed any grants which acts like bounty if the project is tested to the core by white hackers to find the flaws if any.
8) Tokenomics : This is a crucial part in the crypto project to analyse. It tells us the utility , the coins in circulation, max and total supply, token unlocks, taxes etc.
9) Roadmap : This gives an idea of what’s big upcoming in project and when and at what period. This gives an date to check upon the team if they are really commited to their dream and project which increases our trust on them.
10) Price chart : This gives us an idea of the historical chart, its patterns, support and resistances and what should be the next move, where to accumulate , where to sell.
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