Let’s try to get the scoop of cryptocurrencies. In honesty, there is one too many right now and understanding the market would take more than a meticulous analysis. These assets come and go at a heady pace and therefore making any reliable predictions about their future is unreasonable.
To be honest, not much is known from the fraternity of cryptocurrencies, which are nearing the 1,400th mark right now. In addition, despite the shroud of mystery that surrounds them, you will still see investment floating in. Millions are being thrown on things that appear to be tragically humorous at first glance.
Consider Dogecoin – a crypto asset that has started as a joke and supplement that with El Petro – Venezuela’s own taken on cryptocurrencies. These developments are ludicrous in their own right and it’s starkly surprising that people will continue to fall about them. When all is said and done, one question remains.
How do we recognize the cryptocurrencies that will actually make it?
According to CoinDesk, a respected authority in our field, predicts that should the markets come down a tumbling, 90% of all cryptocurrencies will be sent in a tailspin in sweet nether.
Recognizing who will make it on the offchance of a crunch is not easy, though. There is no one currency that can be justly called reliable. Look at fluctuations in Bitcoin. Those gut-wrenching fluctuations are definitely not for those who are faint of heart.
So, in order to spotting the survivors, we will need to look past the valuation of cryptocurrencies. After all, changes in the prices cannot really and accurately for that matter predict where to place our money and pin our hopes.
How to assess the market properly?
According to CapLinked’s founder, there are specific areas where investors should put their trust in coins and assets that meet certain criteria.
Hiring your own staff!
In order to carry out investments in full you will need your own men and women. However, refrain from hiring enthusiasts who have been diligently following the news.
Instead, focus on recruiting those individuals with actual hands on blockchain or crypto experience. Even though it is a novelty industry, there are quite a few well-seasoned people out there who understand the subject matter in full.
Remember that Coin Offerings are not IPOs!
Coin Offerings are not IPOs. I essence you are not entitled to dividends. What you do is invest a huge chunk of money into something that may or may not come off, but you will not be recuperating your investment in the meanwhile.
Make sure to peruse a company’s initiative in full. If they lack something as basic as a whitepaper which outlines their future plans, you may want to steer clear of such places.
This much will help you keep your money with cryptocurrencies that are actually secure. The best companies and most promising companies will certainly trade in those. However, even when you come upon a good idea, you cannot be certain it will work for the best, hence the uncertainty around cryptocurrencies.
So, is there a rule, really?
Yes and no. We would recommend you to always stick with the top 20 cryptocurrencies available out there. Anything else may be a risk not worth taking. For instance, avoid El Petro as it is clearly a self-serving crypto unit that is propelling an ailing dictatorship regime.
You can always get the scoop of separate currencies and judge them based on their own merit. There are many decent examples. TRON is a cryptocurrency that recently gained popularity, but the truth is that its founder has not had as much hands on experience as his competitors. Another one is Request Network – it promises to be the future of commerce and then again, it’s perceived as many payment services all lumped together.