What research means before buying any coins in the market
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Doing your own Research will save you alot of money in the cryptocycurrency market , instead of asking what type of coins should I buy ,us this coins good ,make your own research, understanding why and how people trae will save you alot
They are many things to look for when doing a research
Utility
Utility is just use to check how fast the transaction speed of the coins you are researching is
Mcap
If an mcap of a coins is really poor no investor will want to invest in that coins ,mcap means market cap of a coins ,if the mcap of the coins is poor this should tells you that,you shouldn't go for this avoid coins
Teams
Teams behind a project will speculate how much a long way the project will grow, before investing in a coins or any token checking the teams will give you a chance of not wasting your money on the coins
Backing
When I said backing ,I mean those supporting this coins ,e.g like Elon musk supporting dogecoins ,and you also knows of Bitcoin ,how many institute are willing to add that coins to their portfolio
Social media
Social media platforms will also tells you alot about their project ,when you check their Twitter, Facebook,discord etc,how did they manage their social media ,how is their engagement looks like ,how did they respond ,if this is good you are good to go but if it's not you need to drop from that project
**Whitepaper **
Whitepaper tells alot about a particular coins ,how they plan the project is usually stated in the whitepaper ,this usually takes alot of time to read,you can find this in their website or coin market cap
Audit
You need to check who audit their contract,these also important,if it is certified you are good to go but if it's not drop the coins ,you can always find this in coin market cap
Tokenomic
This shows how coins is distributed ,this is very important because it tells economic of the project you will find this on their website
Marketing
Marketing of a particular project is very important ,no matter how good or bad a project is you need a good marketer to get the world out , check those who are marketing for this particular project ,are they good or not
Market place
er20,trc,bep20,frc20 ,you need to check all this and check the market place for all this pancakeswap for bp20,uniswap for er20 and spookyswap for frc20 ,not all coins are listed on binance ,coinbase you need to check them on all this market place
Supply
Supply of a coins tell alot about the coins ,it's simple economic principle,it you understand economic it's shouldn't be hard to get ,it's just a rule of supply and demand ,the higher the supply the lower the price while the higher the demand the higher the price ,if a supply of a coins is much it will be low in price but if there is limited in supply the price will move high,it will takes alot of burns of a going to go higher if the supply of the coins much and many years
The tools you can use for your own research are
Coin market cap , Twitter, YouTube,coin gecko ,Google , Reddit,coins stats and so on
I hope the article is help
Thanks for reading
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