There are over 1300 cryptocurrencies available at the moment. This is really ridiculous and dangerous for many people. Many of these coins have a ‘pump and dump’ strategy behind them!
I evaluate coins on the following 5 factors:
- Coin supply limit
- Blockchain consensus’s protocol
- Unique proposition - what challenge do they solve
- Future projects planned
- Experience of Exco team
Your analysis needs to be in the high percentiles for each point. This method is known as MOAT. This was designed by Warren Buffett himself when buying companies.
Use it on all your crypto decision making. It helps reduce the emotional component which aids in better decision making.
Please upvote ....