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What are the aspects that you look at before buying a currency?

  • Thread starter Thread starter Braga13
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Is it crypto currency you mean, because before i invest in crypto currency i first check the top exchange sites that list it ,because there are some exchange sites like binance that i can trust when it comes to coin listing abd others actually , another thing i check for is to see if its not another shit coin before investing any money in it
 
There’re indicators to look out for when planning to invest in a currency or cryptocurrency. The demand and supply determines the value of any currency so I look out for the Order books and trend lines. If the sell order is higher than the buy order then I hold on to my currency a bit and vise versa
 
So far yet to buy even single coin. I will look at the graphic transitions of any currency begore buying. As this graph wil show me at which rate this currency alters. If there is some positive growth in the value of that currency then simply I'll buy them.
 
What I look out for before I purchase or invest in cryptocurrency is it's current price and it's potentials for a rise in it's price. The most important is that the Cryptocurrency must be registered on cryptocurrencies exchange market and it must be listed on coin market.
 
Investing in cryptocurrency is similar to exchanging your money in a new country. Bitcoin, Litecoin, and Ether are a few examples of “foreign currencies” that work in a very specific context within certain online communities.
Exchanging any type of currency is built upon shared trust. We value dollars and Euros because we know that we can purchase goods or services with them.
 
Look for prices that are making higher highs or lower lows. If you can draw a straight line that touches at least three high points, prices are in an uptrend. If you can draw a straight line that touches at least three low points, prices are in a down trend. Recognize the basic M and W price pattern formations
 
First one needs to undergo a formal training from a professional trader, then after such intensive class then we must consider look forward to getting reports as regards the trends before making any moves, we must study careful.
 
All currency trading is done in pairs. Unlike the stock market, where you can buy or sell a single stock, you have to buy one currency and sell another currency in the forex market. Next, nearly all currencies are priced out to the fourth decimal point. A pip or percentage in point is the smallest increment of trade.
 
Braga13 said:
There are some factors that must be taken into account before investing in currency ... For me I look at the currency project. The volume of transactions. And how famous it is .
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Are these factors enough and what do you mean by crypto project. There lots of coins whose volume are higher than that of bitcoin but are not valuable like bitcoin not even close to a dollar but has higher volume. To me there are lot of thing to consider before venturing into crypto.
 
There are factors that are to be considered,before investing in any digital coins in the cryptocurrency market. I do my research on particular digital coin i want to invest in,to know the potential outcome in the future when i invest in.
 
The major aspect i take a good look at is the coin demands in the market , also the volatility of the coin and many more. These are some of the factors i check before i buy any coin ,so i wont make mistake of buying the wrong coin
 
These days I go for those coins that are not cost since I am hopeful that they would appreciate in no distant time.
 
I have used the strategy of buying coins that are in the range of $0.000$$$ to $0.00***, this has worked for me tremendously.as I have made multiple of 10 gains in such coins investment on Binance.
 
The market capitalization, the last seven days price value, if it increased rapidly or decreased so low. How many whales investors tracked the coin, and how much was invested for the week. That will give me clue, to invest with high hope if gaining through that coin.
 
The are some of the factors to be considered before buying a currency,for me i will check what the value worth like it's value for now,and also it's value for the last 2 years,compare it value the present year am in,then also Google about it if it's a good or valuable currency
 
Investing in any crypto currency has to be with caution. I normally look at the recent threads of the coin, legal issues, payment methods and proofs before considering to invest in a crypto currency.
 
Braga13 said:
There are some factors that must be taken into account before investing in currency ... For me I look at the currency project. The volume of transactions. And how famous it is .
Click to expand...
This is a very good indication of the future that exist within a cryptocurrency because the volume of transactions tells you the demand for the coin. At the end of the day that is the most important thing because there's no point in purchasing a cryptocurrency that you want and unable to sell. So the volume of transactions is important, more especially the buy market.
 
Some of the important factors one can consider before starting any form of cryptocurrency business is to know the value of that certain currency
 
i personally take a look at the graphs of its performance for atleast the running year to know if there were any recent crashes (they rarely happen twice in the same year)
 
It's popularity is one of the factors to look out for also I also look out for its transaction fees because at the end of the day no matter how profitable a coin if it's transaction fees are too high it's a disadvantage for me because then profits would be minimal
 
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