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

[BrolySSJ]

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 .

The volume is very important and i think that i look at teh buy market as well. There is no point having a large volume with it mostly being on the sell market because this shows that there is no demand for the coin. so there needs to be healthy balance between teh two.

 

[btaliat]

Before I buy coins, I do considers its popularity and also its future performance. Then I can now consider its price. These three factors are already my hallmarks when it comes to buying cryptocurrencies coins.

 

[Richard92]

Some of the important factors you look at before buying cryptocurrency the amount that the cryptocurrency is being so rude and also how it appreciate in the market.

 

[Sotherefore]

the first thing you actually need to look for is the maximum supply of a particular cryptocurrency because this will divine how valuable the cryptocurrency will be in the next few months. A cryptocurrency with little maximum supply is always the best to invest on.

 

[Jlife]

When I am buying a cryptocurrency I will go for a cryptocurrency with the highest and the strongest online communities because this shows that the cryptocurrency is strong, low online communities means a weak cryptocurrency with no exposure.

 

[Nurudeen]

If I want to buy a coin the first thing I look at is the market capitalization. If the market capitalization definitely go inline with the price of the coin and it's not a pump and dump, I will definitely buy it

 

[Aaron625]

I would look into its past trends in price , its creator's profile and his/her achievements in other fields , the exchanges which the currency is supported and finally its legacy in my country.

 

[akinlolu99]

Understanding the fundamentals of cryptocurrency all in all is vital, do make a point to contemplate the markers that cause the monetary forms to rise and fall in esteem, see how the significant trades like binance, coins bit, and so on work, additionally try to purchase when the cash is on a low worth, then, at that point hold till there is an increment.

 

[topfly007]

In terms of cryptocurrency investment, one aspect that I would consider before investing in a coin will be on how valuable the service behind that coin is coupled with the information on their white paper.

 

[Hena101]

Though there are many factors to look before investing in any crypto currency but me i first do research on the project to know the volume of the currency and the the transactions under the currency.

 

[Ub40]

There are actually some basic factors to look out for before investing in crypto currency. To me I look at the popularity, usage, price and even trade volume. For instance, bitcoin which has large usage and trade volume compared to others has the most investors too. It is just my opinion.

 

[Alexandoy]

With stocks I look at the corporation that owns if if it is a good one. For a currency the economy and political climate of the country is important for the stability. With crypto there is nothing that is backing up the crypto. That is my issue that until now I am not buying crypto coin yet.

 

[Nomad]

I look at the price history and market cap. The price history will show you how far the crypto currency has gone in the past and the market cap will tell you how much money has been invested.

 

[Bousine123]

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 .

I think I majorly look at how long the crypto has been in existence. I also take into Consideration the amount of people talking about the crypto.

 

[kayode10]

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 .

I look at the future projection of the currency. I will also check the news surrounding the region where the currency is being spent. There is possibility that a currency will gain more value when people using it as engaging in business and experience boom economy.

 

[akinlolu99]

Understanding the essentials of cryptocurrency, in general, is vital, do make a point to consider the markers that cause the monetary standards to rise and fall in esteem, see how significant certain trades are.

 

[Senator]

If the cryptocurrency transaction I am intending to transact in was for the purpose of arbitraging, I will look at the rate at which i will be buying the coin as against the total sales if it will end up in a profit

 

[Yusuf]

The first thing I do when ever I want ro buy any currency is that I make sure that I look at the conversion rate and the market value of the Currency in the global exchange market

 

[delnovem]

1. Checking legitimacy. The second very important factor is legitimacy.
2. Understanding the value proposition. Understanding the project value proposition is equally important.
3. Doing proper homework.
4. Knowing the risks.
5. Going for long-term.

 

[Elfinito]

Yes you are right, I also look at the project and it's objectives.
I also check the total supply and the amount in circulation because these factor really affect the price