How to Responsibly Invest in AltCoins Part 1

AltCoins are all the rage with beginners and pros pouring millions of US dollars into them every day. But with investments growing, so are the stories of people losing everything. In a market where 10x-100x growth overnight is the norm what can you, the savvy investor, do to maximize profits and grow your crypto fortune?

Check the Team
There are countless altcoins on the market that have teams that don't even have developers. That seems a little strange, eh? Stalk everyone on the team before making any investments. Look for what industries executives came from. Previous successful work in the crypto space is king. Previous bankruptcies, shutdowns, and closures are not. Know who you're relying on to grow your investment.
Check the Tech
Almost all of the altcoins are open source. You don't need to be a developer to check out their GitHub and ensure that active development is happening on the platform. Check for commits, pull requests, and milestones and check the history. How long did it take to develop the codebase? How many contributors are on the project? All of these will help you make more educated decisions on where and how to invest.
Diversify
Take a note from the major financial markets. No one, I repeat, no one, makes money from betting on single stocks. Make bets across various markets and hedge your risk. Don't dump all your money into one coin, find a group (5-10) that you believe in and spread your bets out. You can get lucky, sure, but if you're investing because you think you're lucky? Or are you investing because you think you're smart? If you're looking for luck, go to a casino.

In the next part, I'll discuss the strategies investment bankers use to hedge their bets. You can use similar strategies in cryptocurrencies to cover your bases and maximize your investments.

How to Responsibly Invest in AltCoins Part 1

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