10 TO-DO LIST BEFORE INVESTING ON ANY #CRYPTO COIN/TOKEN
Lots of people ask these questions
- Is this a good coin/token ? Can i buy it now? When to buy?
Here are 10 Tips for you to consider before #Investing your money in any coin / Token
A thread ๐งต๐ ....WAGMI
Lots of people ask these questions
- Is this a good coin/token ? Can i buy it now? When to buy?
Here are 10 Tips for you to consider before #Investing your money in any coin / Token
A thread ๐งต๐ ....WAGMI
1๏ธโฃ Can I afford to lose this money? For how long i will not need this money?
- Before investing in any project, please ask yourself those questions above about your money that u want to invest in Crypto
-Never invest what u can't afford to lose
-Prices are not always going UP
- Before investing in any project, please ask yourself those questions above about your money that u want to invest in Crypto
-Never invest what u can't afford to lose
-Prices are not always going UP
2๏ธโฃ Read & Understand the Project White paper
You will find the project white paper on official website of any coin
- Every coin has a โwhitepaper" & available on their official website
-It explain tech behind & solutions
- Unique features
- Project Roadmap
- Ecosystem etc
You will find the project white paper on official website of any coin
- Every coin has a โwhitepaper" & available on their official website
-It explain tech behind & solutions
- Unique features
- Project Roadmap
- Ecosystem etc
3๏ธโฃ Understand "TOKEN DISTRIBUTION" of that coin
- Initial Token distribution is the one of the indicators that will help you to know how much RISK ur asset is
- If large % of a token is own by few addresses ( Developers, Team & Investors) that's ๐ฉ unless it is #Bitcoin
- Initial Token distribution is the one of the indicators that will help you to know how much RISK ur asset is
- If large % of a token is own by few addresses ( Developers, Team & Investors) that's ๐ฉ unless it is #Bitcoin
How to check TOKEN DISTRIBUTION of any coin when you're "DYOR"
1. You can use a website like
whalestats.com
2 . You can use BLOCKCHAIN website of that coin to know the HOLDERS too
HOW MUCH % TOP HOLDERS OWN YOUR TOKEN
Example if a coin is on Binance Blockchain
1. You can use a website like
whalestats.com
2 . You can use BLOCKCHAIN website of that coin to know the HOLDERS too
HOW MUCH % TOP HOLDERS OWN YOUR TOKEN
Example if a coin is on Binance Blockchain
Visit bscscan.com
Then Click Tokens ---Then Holders
You will see , TOP HOLDERS & How much tokens they hold
For Solana Blockchain -Tokens
Visit solscan.io
For FTM Blockchain ftmscan.com
For ETH Blockchain
etherscan.io
Then Click Tokens ---Then Holders
You will see , TOP HOLDERS & How much tokens they hold
For Solana Blockchain -Tokens
Visit solscan.io
For FTM Blockchain ftmscan.com
For ETH Blockchain
etherscan.io
4๏ธโฃ All Time High price, All Time Low price and Current price
- Before buying any coin these 3 metrics are very important to know, will help you to not buy at the TOP
- Use tools like Coingecko app or Messari to know those metrics
- Before buying any coin these 3 metrics are very important to know, will help you to not buy at the TOP
- Use tools like Coingecko app or Messari to know those metrics
Example : You will be more safe to make good profit if you make an entry on buying a good project when you buy at Current price ( in which that Current price is below from ALL TIME HIGH PRICE for atleast 30%- 50%
But this applies to legit & good projects only with fundamentals
But this applies to legit & good projects only with fundamentals
5๏ธโฃ Total Supply & Available Supply and Market Cap
- Market Cap is calculated by multiplying the current market price of a particularย coinย or token with the total number of coins in circulation.
- This one will help you to understand if that coin is undervalued or overvalued
- Market Cap is calculated by multiplying the current market price of a particularย coinย or token with the total number of coins in circulation.
- This one will help you to understand if that coin is undervalued or overvalued
- It will also help you to predict the realistic price in the future base on its Supply , current price & market cap
- Not advisable to buy overvalued coins with large supply
Use this tool to predict your coin valuation by comparing to other projects
marketcapof.com
- Not advisable to buy overvalued coins with large supply
Use this tool to predict your coin valuation by comparing to other projects
marketcapof.com
6๏ธโฃ LIQUIDITY
- In Crypto, liquidity is the ability of a coin to be easily converted into cash or other coins
- If your coin does not have enough Liquidity, u'll see you have money by numbers on your wallet but you will not be able to withdraw or swap that coin to other coins
- In Crypto, liquidity is the ability of a coin to be easily converted into cash or other coins
- If your coin does not have enough Liquidity, u'll see you have money by numbers on your wallet but you will not be able to withdraw or swap that coin to other coins
High liquidity is always preferred, indicates stability of that coin
And this applies most to the NEW COINS/TOKENS
To avoid to be scammed/rugged
You can use this tool to check any coin Liquidity
goodcrypto.app
And this applies most to the NEW COINS/TOKENS
To avoid to be scammed/rugged
You can use this tool to check any coin Liquidity
goodcrypto.app
7๏ธโฃ What other benefits u will get from investing on that coin out of waiting for the pumps to sale?
- It is advisable to invest on coins that has added advantages, will help you to spot other opportunities like STAKING REWARDS, LIQUIDITY POOL PROVIDING,trading NFTs ,gameFi
- It is advisable to invest on coins that has added advantages, will help you to spot other opportunities like STAKING REWARDS, LIQUIDITY POOL PROVIDING,trading NFTs ,gameFi
8๏ธโฃ TEAM & INVESTORS & PARTNERS
- Knowing the team will help you to avoid being rugged . Always Invest your money to smart & legit developers
- Projects that backed by VCs, there's bad VCs and good VCs. DYOR
- Partners will help you to understand how promising a project is
- Knowing the team will help you to avoid being rugged . Always Invest your money to smart & legit developers
- Projects that backed by VCs, there's bad VCs and good VCs. DYOR
- Partners will help you to understand how promising a project is
9๏ธโฃ Check the Community
- Invest on projects with strong Community . Not about quantity but QUALITY.
Example: FTM Community- Real DeFi degens
-some of the projects are BAD/SCAMS but they got big Community because of having good marketing team so DYOR well before investing
- Invest on projects with strong Community . Not about quantity but QUALITY.
Example: FTM Community- Real DeFi degens
-some of the projects are BAD/SCAMS but they got big Community because of having good marketing team so DYOR well before investing
๐ If you don't have knowledge of what you want to invest in, DON'T invest !!
- You can get #CRYPTO knowledge here for free
๐๐๐๐๐๐๐
#DeFi
#investing
#Bitcoin #cryptocurrency #NFTs #web3
- You can get #CRYPTO knowledge here for free
๐๐๐๐๐๐๐
#DeFi
#investing
#Bitcoin #cryptocurrency #NFTs #web3
LGGGGG frens...help to RETWEET
@henryimani_ @Sirjeff_D @Theo_mwangi @DannyCrypt @WisdomMatic @godbless_lema @crian_nicas @itsapollooo @TitanXBT @notEezzy @Dehkunle @cz_binance @BinanceAfrica @binance
@henryimani_ @Sirjeff_D @Theo_mwangi @DannyCrypt @WisdomMatic @godbless_lema @crian_nicas @itsapollooo @TitanXBT @notEezzy @Dehkunle @cz_binance @BinanceAfrica @binance
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