Which altcoin should I pick?


There are many altcoins and when it comes to creating a balanced portfolio, you might want to choose a couple of them. When it comes to picking them out, you have to be careful and analyze the coins as thorough as possible.

Many altcoins are tempting as you can get a couple of thousand, sometimes even 100,000 for like $1,000, hoping that they reach $1 or even $10 someday. But you should never pick the cheapest coin without having done your research. Even then it sometimes is high risk (high reward) depending on your investment and how balanced your entire portfolio is.

ICO’s (Initial Coin Offers) can be tempting, but beware: Many of them are scams and your money will be gone. That is why it might be better to put your money in altcoins that have been on the market for a couple of months.

What could a balanced portfolio look like?

How to buy bitcoin, ethereum, and altcoins

How to do your research

Doing your research is fairly easy though: All you need to do is check out their whitepaper and their road map, analyzing it and deciding for yourself if they will be doing a good job. If you have any questions, most developers will gladly answer them on Twitter or Slack, i.e.

Furthermore, you can and you should go to reddit: Every altcoin has its community. They will answer questions as well and you will be able to check the current mood and many opinions. Beware though: Don’t get shilled by hyping fanboys and don’t get scared by trolls. Try to distinguish extreme opinions from moderate ones and take them into account when making your decision.

I personally have invested in Request Network (REQ), Stellar Lumen (XLM), and Ripple (XRP), but there are many more promising coins like Enjin Coin (ENJ), Monero (XMR, not that cheap anymore), OmiseGO (OMG) Power Ledger (POWR) and IOTA. Just pick your favorites after having done your research and you will be good to go. Don’t get scared if you see some of them losing, over time you will probably make profits. Keep in mind one more thing though: Invest only what you can afford to lose. Just in case the bubble bursts early and heavy.

If you have any questions, feel free to comment and don’t forget to subscribe to our weekly newsletter to stay updated.

I am a news manager at PRIME Research, that is why it is easy for me to stay informed about cryptomarkets. It is a dangerous game as to why you have to be up to date on every possible detail - and I can help you with that.


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