The 5 Questions You Must Ask Before Investing In A Cryptocurrency
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Is the company actually utilizing the blockchain?
Or, are they just placing it in front of a pre-existing business model? Questions like this cut through the marketing noise found in most cryptocurrencies and tap into the core of the technology. When a cryptocurrency integrates blockchain technology in a way that has everyone benefiting in the network, it is worth your investment.
On today’s episode of The Bitcoin Crypto Mentor Mastermind Show, we are joined by a panel of experts to discuss the many different factors to consider when evaluating a cryptocurrency. From Greg Gilman of Science Blockchain to Reeve Collins of BLOCKv, this panel brings all perspectives to the table. Listen to today’s episode to learn what to look for when seeking out your next crypto investment!
And don’t forget! You can also listen to The Bitcoin Crypto Mentor Mastermind Show on Spotify! Click “Follow” and let me know what you think!
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Points to Keep In Mind
- Platforms over tokens because tokens can be built on top of the platforms
- Be concerned about the team, more than the technology
- The coins with the most hype are the ones with the least focus on technology
- You won’t be invested in learning about crypto until you put money in it
- Studies show people value and retain paid information much more than free information
- Research who the team is, and why they’re building their ICO
- Always inquire about the terms of the deal, and whether previous investors were offered the same
- Evaluate whether the technology actually utilizes the blockchain technology, or just places it in front of something
- Buy Bitcoin and Ethereum for your first step into the market
- Look for tokens with high-quality commits on their GitHub repository
- Examine whether that’s part of the conversation on Telegram
- Seek out infrastructure-tokens like EOS, Dragonchain, Lumens, etc.
- Find tokens that are within your industries of interest
- You can be an expert on anything you spend your time on
- Be skeptical of the cryptocurrencies that are just gift cards to use the business
- Look for tokens where everybody in the network benefits from using it
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