If you are up to date with pop culture you have already heard about digital currencies. Yes, I am talking about Bitcoin, Ethereum, etc. However, are you aware that the crypto scene is not limited to these only? There are other players or cryptos in the market and most of these are new crypto coins.
So where can you find data about these new cryptocurrency releases you ask? Don’t worry, your boy has got you covered. Today I am going to help you decide if you should begin investing in the crypto market.
Where Can I Find New Crypto Coins?
Since the birth of cryptocurrencies people have always wondered if this form of digital asset is going to last. The answer is in front of you. People who made an early investment in Bitcoins are swimming in cash right now. So where can we find the next money maker? I have got a list.
Cryptocurrency exchanges like Coinbase and Binance are great places to find new cryptocurrencies. There are some other exchanges as well but you must have an account to see the new coins.
These gather information about new coins such as their prices, market cap, and trading volumes. This kind of data help investors decide if they should invest in a particular digital asset. CoinMarketCap and CoinGekco are some examples of aggregators.
Many different social media Platforms like Twitter help spread the word when it comes to new coins. Cryptocurrency founders and developers usually share updates about the coins on Twitter. Twitter also helps with notifications on specific keywords such as new cryptos, new cryptocurrencies, new crypto releases, etc. There are YouTube channels as well that analyze new crypto projects where you can find info.
Telegram Groups and Channels
If you want to find out about new coins before they are released on exchanges then Telegram is the best platform. There are many groups and channels which provide tips about upcoming ICOs and new coins. All you need is an account and you are good to go.
The decentralized finance (DeFi) platform is another place where people can find new crypto investments. One can find them to be similar to traditional financial marketplaces, however, they have a small difference. They use smart contracts to make transactions. Some DeFi platforms also have their native token such as the Pancake Swap.
Initial Coin Offerings (ICO)
Most successful entrepreneurs and investors follow the ICO of new crypto coins before making an investment. It is a way of raising money where potential investors buy new cryptocurrencies or utility tokens in exchange for goods and services. However, recently there have been some scams related to ICOs, and the Securities and Exchange Commission had started investigating them.
Store New Cryptocurrency in a Secure Wallet
It is essential to save new crypto assets in a safe wallet. For example, a trader should know all key metrics when holding digital assets in a safe wallet.
How to Research New Coins
All cryptocurrencies have a purpose. For instance, Bitcoin was developed as a payment method. So, when researching a new coin, one should look into a few factors or use tools.
The higher use cases a coin or token has the better they are for investment. Let me explain with the help of an example. Ethereum was developed for scalability so that it can be developed in the future as well. Many decentralized applications are built on its blockchains and many utility tokens are designed to work on the Ethereum virtual machine (EVM) daily.
However, some coins have no value but are still in the top 20 coins due to high market cap such as the meme coins, Shibu Inu and Dogecoin.
A coin should have enough trading volume so that you can easily sell them when required. Moreover, one should always be on the lookout if investors are selling new coins in large quantities as it might turn out to be a scam or the coin might not be worth its value.
How to Rank New Cryptocurrencies
Since the crypto market is saturated with tokens it might be challenging to rank the best new cryptocurrency. However, one can use some techniques to find a solution.
First look around social media for crypto projects that attract the attention of retailers and traders. According to business2community.com, they found potential in Lucky block and DeFi coin.
Next, review the price chart of the coin that you think has potential, ensuring that they have an upward trend. Then review each project’s white papers and roadmaps to ensure they have long-term prospects.
Finally, review the people who have developed the project. I believe if you follow all these steps, it is likely to turn out to be a good investment.
Before investing in crypto space one should do their due diligence and do their own research. Cryptocurrency is an unpredictable market and trading is a high-risk movement that doesn’t ensure returns. You should stay up to date and ought to lead your own examination, audit, investigate and verify any content that you see on any website or app.