Most people are looking for CryptoCurrencies that are cheap right now but with major gains in the future, although it isn't easy to just pick out these currencies. From hundred of currencies how would you go about choosing the best ones?
Well in order to predict this it will require us to research several CryptoCurrencies, its best to go through a few Altcoins that you've heard off or researched. The key is to research many different coins and know exactly what they were created for, also to go through Twitter posts (much of the Crypto Community lies on Twitter) apart from Steemit, there are also many websites dedicated to providing news related to CryptoCurrencies. You would have to see what coins are popular because a coins value will only go up if it catches on with people within the Crypto community or brings new people to the community. Another key thing is to see if there are any big announcements or major people linked to the currency. Once you feel you've done enough research and have a few Altcoins in mind that you'd like to invest in, you will then need to go look at what these coins are trading at, the lower the price the greater the possibility or a higher profit, apart from price you will look at the charts associated to the currency. If the chart is peaking its not always advisable to buy in at that point. Because for every major increase there is generally an equally great decrease. The trick is to buy before the major jump in price, predicting that the currency will do well.
There is a helpful website called Coinigy to analyze charts, as it is hard to do a proper analysis on the charts offered by the Crypto Exchanges. Coinigy has a $15 monthly subscription if you feel thats to expensive I suggest just Googling the free alternative.
Currencies that have peaked and dropped may offer a good return if it continues the trend, so its best to wait for a dip. Its always best to buy low, the lowest possible price will always allow you to make a good profit and minimize losses if the market turns.
How to Purchase Different CryptoCurrencies
My Top 2 Crypto Exchanges are, Poloniex and Bittrex.
In order to send money to these Exchanges, you would need to open a wallet for either Bitcoin or Ethereum, you will then purchase BTC or ETH using the wallet you opened. The purchased Bitcoin or Ethereum will then need to be sent to the Crypto Exchange of your choosing. These exchanges offer you various currencies to trade your BTC or ETH for, you will then choose the ones you've researched and buy them at their designated price. As simple as that!
My Top CryptoCurrencies to Invest in 2017
STEEM
Stratis
LBRY
DogeCoin
Iconomi
SiaCoin
DigiByte
PotCoin
NXT
Bancor
AntShares
Good thoughts
STEEM is surely going to get HUGE.
PS: Followed you :)
Thanks man!