How to choose the best coin to invest in 2022

    Currently, the coin market is volatile. Like Coin LUNA, which is one of the 10 best coins in the market. But now the price of LUNA is almost zero. But it's not like we don't have investment opportunities. The problem is how can we choose a good coin to invest in. Today I would like to introduce to you some criteria to choose a good coin for you.

The first criterion we want to talk about is: Market capitalization

    The market cap of a cryptocurrency or Coin market cap is the current market value of a given coin. Market capitalization is calculated by multiplying the circulating supply of crypto by the value of one unit of the coin. To check the market capitalization we check Binance or Coinmarketcap.com

        - Market Cap: More Market Cap is better when it comes to this type of value. Avoid coins or tokens with low limits, as they are easily manipulated.

Besides Market Cap, there are two other very important parameters that you can check: 24h trading volume and Market Dominance

        - 24h trading volume: I'd like to see at least a few million here, but the more the better. This assures us that this is not a bad coin, it has almost no users or trading activity. Therefore, the higher this metric, the better.

        - Market Dominance: • This indicates the strength of the coin. The higher the dominance, the smaller the chance of manipulation.

Binance 

Project team:

When looking at the basics of a coin, it is essential to get to know the team and developers behind the project.

Check each individual in the team. Find their website or biographical profile. Have they worked on any other coins or cryptocurrencies? Maybe another tech venture?

What happened to those projects – were they hacked or hacked? It is also not uncommon for cryptocurrency developers to jump from project to project or drop projects to make new projects under new names.

If the project has a decentralized or anonymous team, try to count how many members there are.

Many tokens will have this information available on sites like GitHub, which provides open-source code for reviewing projects. From there, it is possible to see who edits and interacts with the protocol's code.

Check out the partnerships and any organizations that may have supported the project. Linking to other prominent projects or backing from institutional investors is usually a good sign that the cryptocurrency will be legit.

Usually, the more partnerships the team has, the better. Partnerships and such are usually displayed on the project website and may be announced through social media.

Community interest:

Off-site vetting and verification of projects in the public domain is increasingly important in the crypto sphere

How many followers does it have on Twitter?

Find out on other social media like Discord, Telegram and blog sites like Medium. What does a Discord channel look like? Or Telegram? Are these channels well maintained?

The community activity of the project's social media groups is a solid test of the legitimacy of a project.

Beware and watch out for hype (Hype) and hysteria (Fomo). Developers are known to airdrop their respective token shill users.

Just because a project can have a large following does not mean it is guaranteed.

Finally, beware of fake social media accounts and channels with buffed followers or bots. The social network is famous for spreading clone accounts to trick users. These scam accounts often have a lot of fake followers, or even use clone nicks to talk to you.

Beware of weird language and anything suspicious on social media. Inactivity and incoherence, exactly, is an absolute signs of something deceiving.

Above are some criteria for you to choose for yourself the best coin before investing. In the following article, I will share with you some tips when choosing a coin.

Disclaimer: We are just a website that provides news about Coin, blockchain companies, blockchain products and blockchain events. Nothing you read on Clubdiscuss should be considered investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please exercise your due diligence before making any investment decisions. We are not responsible, directly or indirectly, for any damage or loss arising, alleged or otherwise, in connection with your use of or reliance on any content you read. on this website.