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Trading for Beginners: How to Choose the Right Crypto Assets

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Trading for Beginners: How to Choose the Right Crypto Assets

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For beginners, choosing the type of crypto assets to be purchased is not easy, because there are a lot of crypto assets in the world and each has its own advantages, of course. If you find it difficult to determine which crypto assets to buy, maybe you can follow the steps below. So that later the investment that you do is in the right target.

The First Step: Filter and Research

After you make a “target list”, it’s time for you to do your research.

Look for information on the internet carefully, if you only find nonsense and the web design is poorly made, then stay away from such things. Dig deeper into information about the company, and what has been done so far.
Look at the company in the Blockchain Explorer. How are tokens distributed throughout the account? Are several main accounts sold? Find out who is the main holder of the coin and how many coins the ICO founder and team got.

Only by doing the above, you can get ideas and images of what must be avoided in order to avoid fraud. Here are a few things we should be aware of:

  1. Distribution of token that gives too many tokens to the owner.
  2. Github is empty or has only limited activity.
  3. An anonymous or difficult team to get information about them.
  4. Look at the Github repository. Is the community empty or have many changes been made?

Second Step: The Checklist

Once you are sure that ICO is not a fraud and deserves to be further processed, you are not finished. The next step is that you must match ICO through the following list of questions:

  1. What is the development team like? What is their reputation? How are they funded and organized.
  2. How broad is their market segmentation?
  3. Who are their competitors and how do coins do better?
  4. What products do they produce at this time?
  5. Are there new technologies released by the company?
  6. Can new technology be duplicated easily?
  7. What are the coin weaknesses or potential problems?

By matching the list of statements above with your current condition, you can anticipate and measure how much risk is generated from the investment to be made.

Benefits of Crypto Assets:

1. Transparency

Everyone can see every trade transaction on the blockchain website.
2. Immutability

It’s difficult for users to change transaction status after using blockchain.
3. Security

Secure transactions to improve integrity.
4. Quick Resolution

Blockchain improves data verification speed across networks.
5. Costs

Sometimes the main benefits of using blockchain. Can help avoid paying third party fees for verification and can reduce costs.

Step Three: Model Evaluation

You don’t need to go into financial modeling to invest in crypto assets, or you don’t need to have a financial background either. Only a simple model is enough to get a coin rating. This will place you far above most crypto asset investors.

After following the steps above, you will be able to be more careful in finding and investing your money in crypto assets.

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