- Not all cryptocurrencies are the same and when it comes to choosing one for your investment, one size does not fit all.
- Doing your own research (DYOR) is imperative when looking to engage in the crypto market.
- Here’s what to look out for and what makes the popular cryptocurrencies on the market crowd favorites.
here are over 6,500 cryptocurrencies at last count. Not all of them are equally desirable of course, just as not all of the real world’s currencies are on the same footing.
Investors looking to enter the cryptoverse have a number of questions to address — whether to buy a lot of one currency, divide their money between two different cryptocurrencies, or participate in the movement of multiple currencies.
There is no one size fits all formula and deciding which cryptocurrencies to invest in varies depending on the risk appetite of one person versus another.
Specific cryptocurrencies are more suited to specific needs, such as for investors, application developers, day traders, and so on. Having a deeper understanding of currencies, would give you a better chance of making an informed decision.
Do your own research (DYOR) — Here’s what to look for:
Age and enthusiast trust – The community that rises around a cryptocurrency and the trust it reposes in it makes all the difference between a currency that reaches the top of the charts, or one that sinks with no trace.