You cannot determine the best single cryptocurrency doing the best in the market in which you can invest; a lot of cryptocurrencies will come up as a gainer in the medium and long-term. Here are some criteria on which you can choose cryptocurrency.
The list is big and exhaustive though of the cryptocurrency that will gain in the long and medium term, but still you can make some predictions to choose your cryptocurrency investments. So, to add to your coins to your portfolio, here are some tips:
- Use in Reality. Do you find the coin you are choosing has used in reality? There are coins which are used to store some value, such as, Bitcoin, ZCash, Dash, etc., whereas others are for entirely different reasons, for example, decentralized derivatives trading uses Lucid Exchange. You should make sure before investing that the coins have a future, and they aren’t used as a duplicate of another cryptocurrency.
- A Good and Active Team of Development. You cannot overlook developers from the equation. You should make sure that they are developing the coin actively? Is the team involved with a growing community who are working on the project? Are the people working in the project legitimate and has a good track record? Make sure always to evaluate the developing team before you make any investment in a coin.
- Network Security. Are the numbers of network nodes enough? Do make sure that the network will always have enough number of people to make sure that the system will remain decentralized. Investigate all these before making any investment.
- Communication. Make sure that the team communicates with its customers. The team also should have a clear plan of growth. You should also know about the team’s new developments from a community.
- Check Wizards Online. Check on the cryptocurrency wizard websites that you find online, they can help. Your Crypto Wizard is one of the most successful wizards that can guide you to the cryptocurrency that are doing good currently and new introductions of cryptocurrency, and then you can inquire.
- Avoid keeping your cryptocurrency on the exchange. Hackers are doing well too, and don’t let them get you.