Best advice for anyone investing in cryptocurrencies

This article on primexbt is a compilation of the best advice for anyone investing in crypto you need to see right away, I see a lot of people asking: “ What is the best cryptocurrency to buy?” Or “Is it too late to buy this coin?”

Here's the short answer: no one really knows or can answer it, but you can still guess.

In a bull market, everyone is a genius and vice versa :D. The market is purely speculative right now, and completely irrational. You can see thousands of multi-billion dollar projects yet to launch a single product. On the other hand, there are also projects that solve practical problems and needs in life.

My advice is that you do your own research and don't invest more than you can afford to lose.

I invest based on the following beliefs about my experience and how I view the cryptocurrency market today:

The blockchain /crypto stage right now is still in its infancy, so I think the best investments you can make right now are in infrastructure and protocol projects, which will help promote the development ecosystem of the entire cryptocurrency industry.

“More developers = more growth and more projects”

It is too early to invest in concentrated consumer projects (some exceptions apply). For example, was Facebook really viable as a business when the internet was first introduced? The answer is absolutely not. That time is too early. The industry is still immature, so adoption is not feasible as the underlying technology is still incomplete.

I don't believe cryptocurrencies say they're focused on a particular niche or use that has any real value. (eg: Dentacoin – sorry for the extreme example, but for everyone's sake I'm sorry) – Ask yourself this, why is there a cryptocurrency that is basically just doing things? smart contract, while you are simply using Ethereum? There are a lot of scams like this that sound like a viable idea, but it's really worthless. Besides the scams, you also have very inexperienced entrepreneurs, people with false beliefs, or people who are creating a token to run an ICO to take advantage of crowdfunding and raise millions of dollars with just a flimsy idea and a simple white paper?

I think some industries have a lot of potential, and can benefit right away from blockchain technology, namely – Finance & Logistics. Currently, banking infrastructure is not highly efficient, and blockchain technology provides digital trust, and eliminates counterparty risk. This is where you can do it and you can increase your liquidity and easily move money globally, the more money and time you can save. Along with logistics, there are real benefits that businesses can derive value from now. Such as traceability and authenticity of goods in the supply chain, anti-counterfeiting, etc.

With the above experience, there are only a few options that I have narrowed down that I think are worthwhile. , and has satisfied my criteria which are :

Best advice for anyone investing in crypto:

Team – Is the team reliable and experienced enough for the project to run successfully and be approved? Do they have any advisors or members? etc

Technology – What is unique about their technology? Do they have a real working product? Do they really need to use blockchain or can they really just use one database?

Token – What gives the token value? Do the economic structures of the network encourage value appreciation, thus making it a good investment? What is token distribution? How valuable is it? How is the traffic?

Timeline – What is their roadmap? Do they look like they have a good business strategy in place? Do they prioritize and execute in the correct order?

Platform: Do they have any partnerships or real-world applications? What are the benefits and values?

The above are the best tips for anyone investing in cryptocurrencies

Remember to take the time to research before investing in a project!

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