Mintme News
We have all been there, we find an up-and-coming new currency and invest our hard-earned money with the hopes of the project to succeed, but the ebb and flow of the crypto market end up dominating the course of our investment, regardless of how the project develops.
The volatility of cryptocurrencies might be daunting at first glance, yet, it represents a high-risk high-reward type of investment, in which your funds could exponentially raise in value in an amount of time unimaginable in traditional stock markets.
Market analysis could help us gauge where crypto is heading, but, there are always outliers impossible to predict.
Research and due diligence are a must when it comes to allocating your money to a new project. MintMe, for example, gives you the tools to get in touch with creators that might share the same dreams and values as you do, so why not delve into your first investment with a platform that offers, not only transparency, but also, lets you engage directly with the creator of the project.
Getting involved yourself with the creation of a crypto token inside of MintMe could be a great opportunity to get accustomed to the little nuances of the crypto world, all of that without risking big chunks of capital, allowing you to follow up on the development of each market related to their respective project, and how the overall community reacts to each decision or change that the creator implements to their own token.
Having a decent grasp on the many concepts the crypto community makes use of would be one of the first steps to succeed and assure that your fundings continue to grow and provide return-of-investment in the shortest amount of time, but also, there are many flags to look after when choosing which project we want to dive into, such as:
Promises of unreasonable high returns on very small amounts of time
As we talked about earlier, the cryptocurrency market can be, in a lot of cases, extremely volatile and show price swings that could be maliciously portrayed by scammers trying to promise unrealistic gains.
Anonymous creators without traceable portfolios
Keeping track of the team behind a new cryptocurrency is important as it creates accountability in case of mishaps or potential rug pulls.
Roadmaps or whitepapers with missing critical information
Contract source code and personal data regarding the creator are some of the details to look for when validating the legitimacy of a new project, as most genuine projects provide this information in order to show transparency.
Overall, the unregulated nature of cryptocurrencies creates an unfriendly environment to brand new investors, so it's important to take extra precautions to invest safely and securely. Also, setting up a dependable and trustworthy wallet would be one of the most important first steps to take when delving into the crypto world.
The public perception is also something that greatly affects the behavior of crypto markets, more so than with regular stocks, and even if market caps, trends, and performance data are useful when choosing a project to support, the climate surrounding what is in vogue at the moment can give you a better representation of which coins might or might not thrive.
Get a feel for the industry and keep your eyes on your own personal investment goals, diversify the allocation of your funds, and as a closing tip, keep in mind the following quote by columnist Arnon Grunberg regarding bitcoin and cryptocurrencies as a whole:
~The success of bitcoin proves that money first and foremost depends on trust, neither gold nor bonds are needed to back up a currency~
Isaac Vitales