I always see a question: “what coins should I invest in?”
While I can’t tell you that (for legal purposes), I can give you a few tips to help you along.
Let’s dig in:
1. Low-risk tolerance? – Go with more established coins
If you don’t like a lot of risks, stick with coins with quite a bit of money circulating through them and don’t have large explosive moves.
You can find these on coinmarketcap.com or coingecko.com.
Just go to coins and look for the top coins:
However, you’ll want to stay away from USDT and USDC coins as those don’t fluctuate.
Normally, your top 30-40 coins will be more stable.
2. High-risk tolerance? – Look for lesser coins
On exchanges like Kucoin or Bybit, they’re always listing new tokens. These coins tend to have explosive moves when first listed so that you could profit from those moves.
However, just know that if there isn’t as much money moving in that token (liquidity), it could be difficult to close it for profits and convert it back to a more stable coin.
In this scenario, I’d want something to have at least $500,000 in it for me to consider trading it with a bot.
3. Best results? – Spread the risk
If you’re unsure, the best way is just to spread the risk around. Divide your funds up and use part for more stablecoins and the other for more risky coins. Also, have a plan before you go into trading the token. Know where you want to get in and where you want to get out.
This way, you don’t put all your eggs in one basket and have a better chance of making a profit overall.
Hope that helps!
P.S. – If you want a tool to help you calculate profits on tokens, you can use this one at this site: https://btc.feh.im/ It will help you right down to multiple zeros behind the decimal!
If you missed the first three parts of this series, check them out below!
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