Crypto coins are digital money used for investment, trading, buying goods and services, etc. The market offers hundreds of crypto coins that can be used for trading. However, only a small part of them deserve attention. This article will discuss how to identify the next big crypto.
Analyzing Crypto Assets
The first thing you should consider when analyzing a crypto project is listing on large and credible crypto exchanges. For example, if a coin is traded on the most popular crypto exchange in Europe – WhiteBIT, it is the first sign to consider buying it. However, don’t rush and check out other factors.
Price
Pay attention to the asset’s price. It is quite possible that one of the little-known and cheap coins will become the next big crypto. Some young startups boost in the end, so take a look at young projects. Diversifying your investment portfolio with low-priced coins would be a good idea.
Prospects
Find information about the essence of the project and the benefits it brings to the market. There are dozens of coins that have no technology or usefulness behind them. But there are also projects that bring groundbreaking technology to the market. It is easy to see such market participants – they have a large community of users, many partners and significant investors at the early stage of development.
Coins Supply
If the coin’s emission is limited, it helps maintain the interest in this asset so that the price could increase. Most projects pre-determine the total emission of crypto. That means there will be no new coins when the maximum number of coins is produced. Limited supply helps maintain demand.
Also, check the asset’s trade volume – the number of coins purchased and sold in 24 hours. The bigger the volume – the more interest around the coin.
You can buy popular crypto assets on the WhiteBIT cryptocurrency exchange. It also has a standalone resource – White Blog – describing up-and-coming crypto projects worth buying, so check out the blog.
