It is common to hear that Bitcoin is an outdated technology, and that a certain promising cryptocurrency will revolutionize the market.
In fact, there are serious projects beyond the “digital gold” and “medium of exchange” market, but there are few that deliver on promises and attract audiences.
The highlights of 2021 were the metaverse segments, crypto-tokens/game-coins, and competing Ethereum platforms.
However, with more than 10,000 cryptocurrencies in circulation, it is difficult to figure out which promising cryptocurrencies will continue to be successful in 2022.
To make your life easier, the experts 4 established projects with solid foundations and consolidated community.
How to choose a good cryptocurrency project?
Similar to choosing other assets in the market, such as stocks and funds, investing in promising cryptocurrencies also requires study on the part of investors before going out to buy. Knowledge, preparation and a lot of questioning are the basis for mining good opportunities, according to experts.
Investors. However, due to the decentralized and global nature of cryptocurrencies, conducting this study can be a daunting task. In order to help you get started, we’ve compiled a list of resources that will introduce you to the basics of cryptocurrency investing.
Cryptocurrency Investing for Beginners
This guide from The Balance provides a rundown of what you need to know before investing in cryptocurrencies. It covers key concepts such as blockchain technology, mining, wallets, and exchanges.
Cryptocurrency Mining: What It Is, How It Works, and Who’s Making Money Off It
Mining is how new bitcoins and other cryptocurrencies are created. This guide from Motherboard dives into the process of mining and explains how it can be done.
They point out that people are often unaware of why they are buying a cryptocurrency. “Most invest in cryptocurrencies because someone said it will go up,” says Nasser.
To understand each project in more depth, they recommend reading the whitepaper, a document that contains all the important information about the asset. It is also important to check the protocol development history, the team behind it, the funds that have already invested in the asset, the problem that the cryptocurrency solves, the percentage of participation that was left with the founding team, among others.
Specialists explain that, by carrying out this analysis, it will be possible for investors to identify good projects even before significant appreciation. Nasser points out that many companies that develop cryptocurrencies have a Telegram or forums on Reddit where you can find more information.
Investing in Cryptocurrency
This guide from Investopedia covers the basics of investing in cryptocurrency. It discusses the risks and potential rewards of investing, as well as how to get started.
How to Buy Bitcoin and Other Cryptocurrencies
Coinbase is one of the most popular cryptocurrency exchanges, and this step-by-step guide from CoinCentral walks you through the process of buying bitcoin and other cryptocurrencies on Coinbase.
These are just a few of the many resources available to those interested in learning more about cryptocurrency investing. With so much information out there, it’s important to do your own research before making any decisions.
Click “Start” to see 4 cryptos that are set to grow by over 500%.