Criteria For Selecting Long-Term Cryptocurrency

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Here are my personal criteria for selecting long-term cryptocurrency. If you satisfy these criteria, you have a profitable winner.

    • Does the currency have an active community behind the currency? How large is the community? Are they talking about the currency? What are they saying about the currency? Does the community believe in the coin. This is important. If no community exists for a currency, stay away from the currency.
    • Does the currency offer rewards and/or dividends? That is, a currency that pays you a percentage of the transactions on the BlockChain. This is a motivation to keep the coin. I always advise that long-term cryptocurrency investors keep their cool when a coin dips. Resist the temptation to dump (sell) your currency at the first sign of trouble. Dips in the market are normal in cryptocurrency. In fact, it is when a currency is in a dip, is the time to buy. Be patient and hold on to your investment for the long-term.
    • Have a number one team member or advisor. For example, I have a few. One of them is Vitalik Buterin, co-founder of Ethereum. His name is usually attached to crypotcurrency that is gold. The best way to see who is behind a particular cryptocurrency is to visit the currency website and see who is on the team. Is there anyone of repute?
    • How unique is the currency? Does it have competition? It should have little or no competition. There are hundreds of junk and clone cryptocurrencies on the market that may look promising but they are not unique, they all do the same thing and they end up nose-diving and disappearing. Visit the websites of a currency and read their White Paper and see if their vision is different from other cryptocurrencies out there. Will they offer something no other currency is offering? Look for uniqueness in a cryptocurrency.
    • Does it solve a problem that the other currencies do not? Preferably, does it solve a big problem? If it does, then you know that it is a unique currency that can pull in big rewards in the long-term.

So, there you have it. These are the things I look for when selecting a long-term winner cryptocurrency.

RJ

A retired Information Technology Specialist and Foreign Service Officer with a large U.S. Government Federal Agency, Technical Instructor, Blogger, WordPress Instructor, Web Designer, Internet Marketer and Cryptocurrency Investor and Mentor.


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