How To Find New Crypto Coins: Tips And Guide
In the past few years, we have seen many people who made their riches and fortunes from cryptocurrency. Those who were brave enough to buy Bitcoins when it was first launched are now enjoying the benefits. Now, the value of Bitcoin and other cryptocurrencies skyrocketed, making it challenging to acquire. However, you can still find opportunities to invest by purchasing new cryptocurrencies fresh from their ICOs. There are around a thousand of these cryptocurrencies, and it can be quite overwhelming and challenging to find a valuable coin. This article will help you address that dilemma as we'll show you how to find new crypto coins in the list below.
Ways On How To Find New Crypto Coins: Find the ICOs (Initial Coin Offering)
One way to know how to find new crypto coins is through the ICOs. Check which among the ICOs are coming up with the help of some sites, like ICOalert. These sites can be beneficial as it is where developers list their upcoming pre-sale and public sale as well the soft-cap, buy-in price, and team profile. Investors and traders can use these sites to research, plan their entry, and prepare their money to invest in the best events.
Rare ICOs can easily attract the attention of investors and raise their cryptocurrency. However, many of them will surely fail, so it is crucial to evaluate and study the market beforehand.
- Find out how unique the idea is - Bitcoin was an excellent, revolutionary idea when launched. However, these days, many of the cryptocurrencies have the same functionality. Many ideas and initiatives are cropping every day, so look for those that have a new twist on an old concept or some that seek to accomplish something big.
- Currency distribution - In most cases, when a coin is scarcer compared to other ones, the more it will fetch on the open market. Check and find out how many coins will be sold on the closed pre-sale, the ICO time window, and other essential information.
- Exchange plans - One of the best signs to check is when exchange platforms like Coinbase, Kraken, or Bittrex announce their plans to list a coin that is still in its ICO phase.
- Find out which blockchain is the coin built on - Typically, new ICOs are launched from an existing blockchain unless they plan to create their own. It is necessary to know which blockchain a coin is built on as it determines which among the existing cryptocurrency will participate in the ICO. For example, a project that uses Ethereum's blockchain requires Ether to buy the new coin. Then, this currency will be exchangeable specifically only with Ethereum for some time.
- Check who are on the team - Find out who the people are behind the team and then check their expertise and experience in the industry. You can check information regarding each member's history and individual role from a short profile published typically in every real project. It is favorable to choose a team full of veterans.
- Check the assets - To know the seriousness of the project, check the white paper. The white paper must be comprehensive, thorough and must explain their technology and purpose. Some assists include videos, blog posts, and contributions from the team.
- Check the community - this is also a crucial indicator of a cryptocurrency's potential. Some communities can be helpful, such as Reddit and Github. Even social media can also be useful. The more the coin is being talked about, the more chances that its price will rise. However, be wary of bounties or those who are being paid but crypto startups to spread a good word about their currency.
Tools To Find New ICOs And Cryptocurrencies
Top ICO List
This is a one-stop-shop to find potential blockbusters in the ICO market. This tool provides a list of all ICOs as well as insight on a few of the best existing ICOs and information about the past ICOs to provide a basis for benchmarking the ICOs performance that interests you. Top ICO List also provides curated white papers and one-pagers of ICOs.
Smith + Crown
Smith + Crown is grooming itself to be the Bloomberg or Financial Times in the crypto world. This tool gives access to indexed public research that had been tagged and summarized for reference and discovery. The company also provides a list of existing and upcoming ICOs with a simple summary for each ICO (project's name, a brief description of its ICO, and start and end date of their token sale). In some cases, they offer more in-depth research such as a whitepaper review, analysis into the market, and commentary about the team's strategy. It’s one good place to learn how to find new crypto coins.
CoinGecko is another option on how to find new cryptocurrency coins. It is still in public beta testing; however, it has already been proven useful for crypto traders and investors who desire to be ahead of the market. This tool provides a real-time ranking of live cryptocurrencies from multiple exchanges. It provides several crucial information, such as the market cap of different cryptocurrencies and insights into the coin's development and community activity.
This tool is a professional ICO grading website that uses crowdsourced ratings from crypto traders and experts. The experts evaluate a project using different parameters such as hard cap, team, and white papers and grade them accordingly. The highest score an ICO can earn in this assessment is 40 points. This tool can help you find new crypto coins to buy and upcoming coins to invest in.
There are hundreds of currencies and alternate cryptocurrencies that exist currently. This means there are many opportunities for investors and traders as well. The important thing they need to do is find those currencies with the potential, which is why knowing how to find new crypto coins correctly is essential. The tools and tips can significantly help you in your venture of searching for the best ones. Learn more about crypto coins here!
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