Now the market is going through a lot of ups and down. There are some bad news people starts panic sell(low) and FOMO makes them buy(High) it again. Like these people are losing money. I am seeing scammers all around. If you want to be safe and make the profit then stay away from these scammers. You will see a lot of youtube channel and websites are writing like “Buy these coins to get Rich in 2018″,”Coins to buy for Lambo” and many more. It is not that easy to get rich. They are fooling us and making money from all possible way like paid promotion, affiliate program, and advertisement. Some of them have promoted Bitconnect heavily now Bitconnect is shutting down and a lot of people lost a lot of money.
They have scammed people with paid promotion. Whenever you see such posts or videos beware before you invest. Make your own research before investing those coins.
How Do I research about a coin?
It is very easy to know about that particular coin. I will give you few tips which may help you to authenticate about that coin.
- Do check their websites and learn about their projects and roadmap
- Check their announcements in bitcointalk and check last five pages of that thread and try to learn about development and community responses. Confirm projects is still active and team is there.
- Check their social media to know whats cooking inside. Check last post or tweets and last activity.
All these will give you a high-level understanding of their projects and progress.
One more thing you need to learn that for a small volume coin it is very easy to manipulate the market. Whales usually do that. They intentionally create a pumping of a coin and creates a FOMO among traders and when the price goes up they just dump at a high price. So stay away from FOMO. If a coin is going high it will come down someday so by looking at its gain does not buy any coin.
For last one-week price is going down, the smart investor will buy these cheap. So my suggestion is if you are in the loss for a particular coin then hold it till you gain some profit, as I have seen here it takes few days or few months to get back to that price.
I will suggest you look into to these masternode coin before the launch. GRIM, JEW and RUPX soon going to launch masternode. Make your own research and let us know your best choices.