Hi people,
I am relatively new in this field. Having done some "trading" of alt coins in 2018, I would like to seek the opinion of more experienced traders and hopefully gain an insight as to how can I better differentiate coins with higher potential and coins which are basically crap.
Thanks in advance!
Basically the best thing you can do to determine which altcoin have a high potential to shine in the market is check first the white paper: this include their roadmap and how the project works in that case you can gain knowledge if the project have a strong fundamental to run in a long term. Consider also the team behind the project because in this kind of industry there's a lot of scammer in the market, if you do this step you can decide which altcoin have a potential and which altcoin is scam(shitcoin).
- Yes, white paper, project schedules and plans, these are really important things that we should check before we start investing in a new coin, consider it as closely as possible because these factors decide a lot about the future of the project. Make sure the developers and their teams complete all the goals they set, if they are delayed in the plan or receive many complaints from the community, that will be a red warning for us, we should stop participating in that project because the community's voice is the face of the project, the community is a place to show the credibility of the project