What are the factors to consider when identifying an altcoin with huge potential?

[Ononivami]

The market capitalization of the altcoin is one of the major factor that must be considered inorder to ascertain the potentials of the coin. This is the best thing to do right now.

 

[James]

Well ALT coins gaining popularity after dodge coin success and one can easily find potential on following points

- Social media support which brings more investment
- Coin burning ratio
- Coin supply

It gives you more idea about Alt coin.

 

[Lens]

Basically I access the altcoins potentials by using the market capitalization. This will tell the number of investors that accepted the cryptocurrency. If it is huge , then, the coin must be promising.

 

[Setho]

I should be able to study but the advanced and initial fundamentals of the coin. This is being to include things like the number of active addresses and also the number of purchases that they have made.

 

[Smiles20]

Hypeb and utility is one of the basic indicators to see if you can be able to get the best out of that project or it is best that you should just abandon it until at least later.

 

[Sincerem]

One element to keep in mind when scanning for the next superstar is the price of the token. For the average investor who doesn't have a great deal of money to put into the cryptocurrency space, low-priced currencies may offer the best bang for your buck.

That's certainly true mate, the capital of the investor would also determine the crypto currency coin that would be more suitable and convenient for them to purchase for maximum profit.

 

[Robust]

The factor to consider before buying an altcoin with huge potential is to be observing the past last four to six months trading map about the coin, to see how was it before.

 

[Lens]

The market capitalisation of a altcoin in one of the things that should be considered in order to analyse the potential of that particular cryptocurrency.

 

[Ononivami]

If you want to identify an altcoin with a potential or you need to do is to ensure that you look at the market capitalisation and the numbers of users that is transacting this particular cryptocurrency.

 

[Bookwormlux]

Make sure that it has got good support system, like having top influencers like Elon musk talking about it on Twitter or other social media platforms. This is the best factor to consider.

 

[Sotherefore]

When I am trying to identify crypto currency with huge potential, I will first of all have to read about the purpose of its existence and the main purpose for which the cryptocurrency was created for. That would give me better understanding of what the coin is all about.

 

[glitch]

I tried my hand at this and almost invested in a few different ones a few different times. Had I done so, I would have lost all my money. These sorts of investments are very high risk with low reward. I avoid them now.

 

[Gandiba]

The first thing is to use Twitter and see how much attention that people are giving to that particular cryptocurrency. If the attention is high then you can decide to invest in it.

 

[Sotherefore]

Nothing really special , the most important thing you have to put into consideration will be the overall supply of the cryptocurrency you are researching on. Cryptocurrency with so much circulating supply is no more a potential cryptocurrency but a shitcoins.

 

[Chibson]

The first thing I usually do is to go to coinmarketcap and check the market capitalisation of that particular cryptocurrency. Another thing I do is to check the wallets holding the cryptocurrency, I also check the exchanges in which the cryptocurrency is being listed and after then I go through their various social media platforms to check. If your telegram channel is very active then I may likely participate in the project.

 

[Sotherefore]

Apart from their overall total supply , you can also check their position in the coin market cap. Cryptocurrency that are the first hundred are likely to be a potential cryptocurrencies for people to invest. Don't forget to do your personal research.

 

[Sincerem]

Everything in the cryptospace lies on technical and fundamental analysis and you must have a little understanding of both of them to be able to carry out affective research on any cryptocurrency you are considering to invest. That is the best thing you have to do.

 

[Chibson]

the fundamentals of a particular cryptocurrency is one of the most important things you need to consider. It is from there you will get information about their past record and their genuineness.

 

[Shigobad2020]

Well ALT coins gaining popularity after dodge coin success and one can easily find potential on following points

- Social media support which brings more investment
- Coin burning ratio
- Coin supply

It gives you more idea about Alt coin.

The social media has been the first mover of any coin in gaining popularity , and that's why dogecoin became more popular when we heard Elon musk invested hugely on dogecoin.

 

[Chibson]

The social media has been the first mover of any coin in gaining popularity , and that's why dogecoin became more popular when we heard Elon musk invested hugely on dogecoin.

The social media has been one of the forerunners of cryptocurrency technology. Elon musk has actually used Twitter to promote dogecoin to a reasonable estimate and a lot of people has adopted it.