The main signs of a promising cryptocurrency


Every novice investor is interested in knowing how to choose a promising coin in which to invest. There are several key signs you can follow to help you choose the right cryptocurrency for your investment. We will talk about exactly what signs are in question in this article.

Demand

Everything is logical here: the higher the demand, the higher the supply. The cost of any cryptocurrency directly depends on the demand for it. Demand is influenced by many factors, and it is based on various characteristics of the cryptocurrency. Therefore, for a coin to be successful, it must generate interest in the crypto community and among investors in particular.

The points that we will discuss below also characterize the success and prospects of the coin, however, without the demand for cryptocurrency, the price will never rise. And if the price does not rise, then the investment becomes meaningless.

Team and product

The development team must have market understanding, experience and knowledge. These are perhaps the most important criteria that promising project developers have. Pavel Durov’s TON project can be cited as an example. His team largely became the key to the successful implementation of TON and helped to attract significant investments, despite the fact that the project was closed.

In addition, you can study White Paper. A promising project should have everything well and understandable with the documentation. The white paper should clearly describe the task that the developers are performing.

After that, you can explore the project website and social networks.

It is important to know the past of the team and understand who is behind it. In addition, you can pay attention to some additional factors:

  • Determine how interesting and promising the underlying idea is.
  • Check for MVP – minimal working prototype.
  • Check the execution of the roadmap. It is important to understand how the project is progressing, whether deadlines and deadlines are being met.
  • Get to know the project community. It is important to study the general information field around a startup and see how branches are maintained in specialized forums.
  • Determine the market value of the project. That is, to understand whether the market really needs it and whether it will be useful.

Ease of use

The easier it is to use cryptocurrency in everyday life, the more ordinary people will be interested in it, as an alternative to fiat. For example, we can cite the hype that happened not so long ago around the Shiba Inu coin. The coin was able to capture the interest of the community due in part to its affordability. Therefore, in addition to investors, people who have not previously been associated with the crypto industry can increase the demand for cryptocurrency. Thus, they will increase the demand for the coin, and therefore the price will also rise.

Conversion

If a coin can be quickly and easily exchanged between users, then it will be more attractive compared to other digital assets that are difficult to exchange or transfer. A related consideration is how easily the coin can be converted to other forms of currency.

The uniqueness of the project and its viability

Coin trading volume indicators should be close to the TOP-50 in terms of cryptocurrency capitalization. In addition, the coin can be purchased before listing on trading floors, since, after it, the price is likely to rise. However, not all investors adhere to this point of view, so here everyone decides for himself when to buy an asset.

Conclusion

It is quite possible to find a promising project or coin, but this will take time. But in order to start earning cryptocurrency on top platforms today, we can recommend a trader’s assistant – a trading bot. One of the segment leaders is RevenueBot. The service provides the opportunity to create trading bots on the largest cryptocurrency exchanges: Binance, Bittrex, Bitfinex, Exmo and others. Creating a bot is free of charge, the service will not take commissions until the client begins to make a profit from trading the bot. With the help of deep settings of the bot, the service’s clients implement trading strategies that are problematic to experience in normal trading. We will immediately indicate: the bot does not have access to customer funds on the exchange, but trades using API keys, that is, the account will remain out of access. RevenueBot has over 35 thousand customers who earn money thanks to trading bots.

Why should I choose this service?

  • Pay the commission only after making a profit.
  • The bot settings open up a variety of ways to make a profit.
  • Inside RevenueBot, a marketplace is implemented where customers can buy a ready-made bot so as not to bother creating their own, or sell their own if the configuration has shown efficiency. Also, the services of a mentor (an experienced customer of the service) are purchased on the marketplace, who is ready to answer the questions of newcomers. Over time, you can become a mentor yourself, getting additional profit for this.
  • Regular updates of the service’s features that optimize the trading process.
  • The presence of the RevenueBot referral program allows you to earn money on trading, even without resorting to trading. Attract new customers for the service and get up to 30% of the profit they receive every month (but not more than 15 USD).

This is a small list of the advantages of the service. You can continue to list the positive qualities of RevenueBot, but why do this if you can go to the official website of the service and see for yourself everything? It is highly recommended to make decisions faster, because the crypto market does not stand still, but grows at exorbitant steps. Who knows how much profit is missed by someone who does not dare to come and start trading with RevenueBot.

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