CRYPTOCURRENCY

4. ALTCOINS

 

AN ALTCOIN IS ANY CRYPTOCURRENCY BESIDES BITCOIN & ETHEREUM.

Four criteria for evaluating coins:

  1. What price to buy at? What price will make you happy. Look at current price, look at lowest price in last few days. Decide an entry point. Buy low. Be patient. Buy the dip. Go shopping during a crash. 
    "The time to buy is when there's blood in the streets."

  2. Look at external factors. Do your research. Look for news in YouTube videos, websites, forums, etc. Look for use case, future innovations, updates, value. Make an educated decision. Research, don't gamble.

  3. What is the community like? What is the sentiment towards the coin within its supporters and within the general cryptocommunity. Does the coin have a lot of strong supporters?

  4. How replicable is the coin? Does it have unique features? 

More factors to evaluate when considering which new coin to add to portfolio.

Do your own research.

Look for good prices of: Bitcoin, Ethereum, NEO, OMG, Stratis, Steem, LBRY Credits, Iconomi, Civic, EOS, Bitquence, PIVX, IOTA, BAT, Status, Siacoin, Litecoin, BitShares, Golem, Humaniq, Game Credits, CloakCoin, DigiByte, STEEM, CannabisCoin, NEM, Ripple, PotCoin, Moreno, Filecoin, ZeroX, Tezos, Cardano (ADA).

 

Visual Representation of the Crypto Market

Here's 100 Cryptocurrencies described in Four Words or Less

Diversify.

Try not to over trade. Go to the exchange with a strategy. Execute your strategy and don't second guess yourself. 

How to react if there's a crash? Do not panic. Be resilient. Don't be weak. Don't panic sell. Don't get exposed. The worst thing you can do is sell for a loss. Use logic, rationale, positive thinking. Be comfortable, be happy.

The risk–return tradeoff is the relationship between the amount of return gained on an investment and the amount of risk undertaken in that investment. The more return sought, the more risk that must be undertaken.

Cash out when you're done. Only cash out when your done done.

DO NOT INVEST MORE THAN YOU ARE WILLING TO LOSE.

DISCLAIMER, THIS IS NOT INVESTMENT ADVICE. I'M STATING MY OPINION.

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