Altcoin investing: this should help

Photo by Mathieu-Stern on Unsplash

Welcome to the Cryptoverse, a diverse world of digital assets and financial tools reshaping how humanity thinks about finances.

Like so many things in our human existence, it began as a fad that turned into a faze, which grew into a following and has become a digital asset phenomenon.

Bitcoin led the way in 2008–09, but over 16,000 altcoins (source: Coingecko) are available.

That is a sea of altcoins, and the question is, how do you “fish” in it?

This should help

You must answer a few questions before you begin “fishing” (using that analogy).

1. What are you fishing for?

For example, if you want to fish for sheephead (a saltwater fish), you go to bridges, piers, or someplace with pilings in the water.

If you want grouper (saltwater fish), you need a boat and head for deeper water.

In like manner, if you are “fishing for meme coins, you only need to look at the personality offering the coin.

On the other hand, if you are looking for a coin that addresses a particular digital challenge (say, international payments), you will have to dig deeper.

2. What is your end game?