When selecting your cryptocurrency investments, there are important topics to consider.
Here are tips that will be useful in every aspect
Market Cap
Sorting cryptocurrencies by market cap is one way to choose investments. Market cap is an indicator used to measure and track the market value of a cryptocurrency. You can check information about cryptocurrencies on websites like @coingecko and @CoinMarketCap
Total Supply and Circulating Supply
Examine whether a cryptocurrency has a limited supply. Consider the current circulating supply. For example, Bitcoin has a total supply limited to 21 million, with a circulating supply of 19,564,143 as of December 2023. Increasing demand for Bitcoin, coupled with limited supply, contributes to its price appreciation. When deciding which coin to buy for investment, check the total supply and how much is currently in circulation.
Use Cases
The more use cases a cryptocurrency has, the broader its acceptance and potential for value increase. Ethereum is an example with diverse technological applications, making it the second-largest cryptocurrency by market cap. It benefits many areas within the crypto space. When deciding on the best coin to buy, consider the variety of use cases, as a decrease in use cases can negatively impact a coin's value and competitiveness in the market.
Community
A significant part of a coin's success is its followers. Cryptocurrencies with strong communities and loyal followers have an advantage. Following the crypto agenda on platforms like Twitter keeps you informed about the latest news, discussions, and debates in the crypto world.
Team
Researching and examining the team behind a coin is one of the most important factors. Questions like whether they have a proven track record of success or sufficient expertise in business development processes are crucial. The team directs the project towards success or failure. Pay attention to these factors when deciding which cryptocurrency to invest in.
These are just some important considerations. There will be many more factors to watch, but your priority should be patience and careful consideration. Crypto is a game of patience and attention.
