The all-over impact of cryptocurrencies price during its development period of it in 2017 was incredible. In the month 2017, there was a currency name Ripple (XRP) whose prices were on the higher side. Hence before investing in any cryptocurrency, people expected to earn profit first. Whereas the scenario does not remain the same. Sometimes it goes on the higher side and sometimes it drops suddenly. Cryptos such as Ripple, Neo, etc remained very versatile. The majority of people who trade Bitcoin do so by purchasing it on an exchange like Bitcoin Code.
Therefore, cryptocurrencies can be bifurcated as per their investment plans in 2018. Unlike any other asset or commercial object, cryptocurrency gives tremendous results and amazing wealth all over the world. Although banks cannot follow the same criteria as a cryptocurrency because banks are centralized and their regulatory framework restricts them to follow cryptocurrencies. Hence banks have just the option of taking money from their market.
What are the “cheap” cryptocurrencies?
Several cryptocurrencies are still surviving in the market and so many were dumped with the hope that they would rise in the future or not. If an investor solely depends upon the cheap prices of cryptocurrency with the hope of making double or triple its amount, it will not be a supportive approach for them. The decision may leave them at risk. It is not a truth that altcoins do not rise over low crypto prices. However, it is a bit of a challenge, noting that such cheap altcoins can also get a good amount of return in the coming years. So the question comes to mind: what should be the right approach for choosing a cryptocurrency that can make these fabulous returns in 2018? You just have to plan for a strategy before investing in a specific cryptocurrency and have a great exit strategy.
A Platform-Based ICOs
The base of cryptocurrency generally is projects made in exchange and already running platforms. Although Bitcoin is now considered outdated, it comes to this function. As its processing is slow and it does not provide contract support such as Ethereum does. Remember the case of DRGN that solved the problem that happened within an ecosystem? Moreover, if you spy around, there are several ecosystems available with low efficiency in terms of cost, ease of use, and project scalability. Thus, I’d be well versed with tokens available on the platform which were capable of solving these inefficiencies. Well, it was the reason behind Ripple which empowers this platform to solve the challenges related to cross-border payments at the level of banking. Therefore, before deciding on an ICO for investment purposes, go through the underlying platforms and observe which would be more useful to solve major challenges in an ecosystem.
What are the fundamentals?
Fundamentals are the basics of things like:
- Available or total supply of the cryptocurrency
- Market Cap
- The purpose of the coin’s creation is implemented on real-life experience.
Moreover, to get information about coins in the market, websites like ICOdrops.com would be a good choice. For example, if a coin is mined more than its completeness and follows a strong concept behind it, therefore it should be understood that due to high demand and limited supply of coins, the value of the coins is going down.
Met/Unmet Demand
Due to the hard cap limitations, the level of demand should be matched with the ICO. Moreover, ICO also has a hard cap due to which the money would be raised in ICO and the excessive part of the money could be returned to the investor. This makes the ICO specific for which it has already been decided who can buy into an ICO by just signing up via email. Whenever the demand does not with people’s expectations then they sometimes rush to buy the tokens once listed on exchanges, as now these were leading to high prices
Choice of a strong team provider ICOs
As it is a fact that Credentials speak volumes. Therefore, you have to choose ICOs with team members who are familiar with the crypto or investment ecosystem, who have a stable and good track record, and who have worked for very successful incidents. Moreover, the team members of an ICO would be connected within the ecosystem in which the system is going to operate. Moreover, the internet is the best option for surfing the best cryptocurrencies as well.
