How to be a better crypto researcher
These days we all see people asking, “how to 100x my money? Where can I find these magic coins!?” That feeling you get in your stomach, seeing others find these coins before you, seeing them make all that money as you just watch. It’s a frustrating feeling, It’s not exactly FOMO, it’s more like the feeling of running to the train as it is about to depart, and you run and run thinking you’ll make it…just for the train to close the doors right on your face. The train goes, leaves in the distant, along with all your hopes of 100x your money. This might be a bit extreme but you get what I mean. And if your anything like me, having that feeling in my stomach just doesn’t go away, it stays and eats you up. If your reading this and knowing exactly what I’m talking about, then good. Welcome. Welcome to this world, i want you to use that feeling for the good! Stop taking these L”s and start making some wins.
The answer to all this is simple, all it takes is time and research. Simple right..
Where to go?
Before we begin, I want to advise this is not financial advice and I don’t want you to throw your life savings into this. Always be aware that crypto can go to zero tomorrow. Be smart and invest smart.
Ok now, If you’re finally ready to start on the crypto world, welcome. It’s a very confusing world and you can easily get lost into rabbit holes of dark confusions. So to keep it simple, I’ll give you a bit of a guide on how to start. This goes for anyone, beginner or intermediate or even experts.
After you creat a wallet and looking for a new coin to get, always always always use CoinGecko as your research friend. CoinGecko is an application to view the crypto market. You can see what’s killing it and what’s not killing it.
After taking a gander at the market and seeing what’s going on, it’s time to go a bit deeper. Really finding that one true coin. Go on “search” and you’ll find a section where it shows which coins are trending. High wins, go on the highest trending one.
You see Gameswap is the highest trending search. Interesting, click on it. You see it’s a gaming coin.
This is when you have to start asking questions. “Why is a gaming coin trending? Is the gaming industry trying to get into the world of crypto?” Analyze, detect and go deep into it all! You see that it’s ranked #774 so your still early to attack without losing too much a risk.
After viewing the coin, take it another step and look it up yourself. The best ways to see if it’s legit is going start to their website
View their website, don’t be lazy, analyze! You’re potentially giving them your hard earned money, you have to have a standard. Does it look professional, does it provide a valid service, how long have they been operating for? You have to be on top of all this.
After viewing the website, I want you you to take it to a valuable tool called Morioh. If a coin is there, and someone is talking about it, then it’s looking good. They do a great job of breaking down coins and doing deep analysis of them. It’s always a good sign if said coin is posted on there.
What you have to remember about researching a coin, is in a way, research is a domino effect. You want to track how it all got there. For example with this coin, you can do a formula of
COINGECKO > TRENDING > GAMESWAP > WEBSITE > MORIOH >
And along the way, if anything else catches your eye go to it! You see on their website they do NFTs, look them up. How are they doing in sales, are they backed with an audience, you have to go down the rabbit hole…with caution. Don’t get too deep with it all. You just want to answer those basic questions.
Then after it all, it’s time tj make a decision. If you see gaming coins are trending, if you see this coin has a real purpose and has a full team working behind it, then maybe give it some attention. It’s early days with this one, with a low risk factor behind it. Remember my friends, be smart, be smarter than smarter and good luck out there.
