How to recognize a good project on the Blockchain

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In the blockchain there are an infinite number of projects and investment systems thanks to cryptocurrencies, but when there are more than 2000 projects and you are starting in this, it is natural that you do not have very clear which one to choose and you only know that Bitcoin is the first option of all because of its great price that continues to grow over time.

Based on this, we must take into account several very important aspects to know where to invest, either our money and of course also our time. What we must be clear is that each project has a unique feature that can make the difference with respect to another, but more than anything else we must first determine what we want to achieve by investing the aforementioned.

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Determine what you want to achieve with your investment

The first thing we must do is to know what we want to achieve with our investment. According to my experience there are 3 types of investments or better said 3 ways to make your investment profitable. These ways are:

1. Those who want to generate more USD or USDT.

2. Those who want to generate more of the currency or token in question that they have under their possession, for example generate more BTC.

3. Simply a project where you can generate or farm by investing time based on a natural talent.

So once this is clear, we must go in search of this project, one that suits our needs and for that we must look at a specific platform that will provide us with all the information concerning them.

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How to use CoinmarkepCap to research and learn about projects

Using coinmarketcap is very simple, it does not have a secret formula or some hidden trick to know which are the best projects, I will tell particularly how I use it and what I look for first.

  • First is to see the top coins by market capitalization, in a few words is to see which coins have more money invested. You will see this order from highest to lowest and in the first position you will always get Bitcoin, now, based on this we can see which projects have more investment and go setting aside the projects that seem more interesting, the more money invested in these, more reliability and seriousness will have the same.

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  • The second feature I look for is to see how much money moves every 24 hours, this is reflected in Coinmarketcap as trading volume. If we look at this feature, we can see the amount of money that moves in the exchanges when buying and / or selling this currency, this can be interpreted as, based on that volume, we will know that it is really a project that is used, which will give us a very good perspective when making an investment decision.

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  • Generally, any project that is on Coinmarketcap means that they are seriously working on the project, this does not give assurance that it may or may not be reliable but it is a good start, however, this is not the third point I wanted to touch on. Now, another thing that I observe after seeing the capitalization and trading volume, is The utility that these projects have that seemed to me more interesting observing the previous data, it is here where comes the thorough and investigative work, because we will know what is actually what the project performs, in short, how we can do to earn those coins. Coinmarketcap has mostly links to the original web address of each of these projects, there we will find out what we are investigating.

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  • Finally, comes a little research outside of what is Coinmarketcap at the beginning, it is to search on Google for example, that Cryptocurrency projects we can work without investment, this is preferably for those who want to work investing more than their money, their time using a talent. Once we find what we want, we go to Coinmarketcap, we look at all the data of interest described above and based on them we will determine whether we are convinced or not to invest our time in it.

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To conclude

For all those who are starting in this world of investments and projects based on Blockchain technology, this is a small guide on how we can determine which are the best Cryptocurrency projects in the market. The best thing is that we can do almost everything with the same tool that is Coinmarketcap, I hope this information is useful, which, although it is something really basic, can help newcomers to find their way a little among so many crypto projects that are being born.

Until next time and happy investing.


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