Hello, fellow steemians. I would like to share a youtube channel to connect you with someone who is genuine and highly skilled in the world of cryptocurrencies. His name is Ryan and he lives in Singapore. He regularly has interviews with the people behind many different cryptos and has excellent advice and analysis about when to buy in at various levels. He has increased my overall value and he cranks out one or two videos per day. He is insanely dedicated and comes across as someone who is kind and generous. After being turned on to his video channel, I eagerly await his videos and insights. Obviously no one should take the things a random youtuber says as sacrosanct, though in terms of learning more about the complex field of distributed ledgers, he is among the channels I would recommend the most.
In a so called "gold rush" to get involved in bitcoin, many rookie eager viewers have to sift through the incessant new channels popping up, and listen to some real clowns acting as if they know an inside scoop. Well, search no more, Ryan has a background in banking and finance, yet is cool and down to earth as any well rounded human should be. Now, on to what I have gleaned from watching his videos.
When you look at the charts and see a cryptocurrency has just skyrocketed in value, DO NOT BUY ANY!
It is easy to succumb to the fear of missing out. Let's face it, we would all like nothing more than to get on board that rocket ship and sail off into the sky! If you see a coin has just had an %80 increase in value, where is it going to go from there? Up even higher? NO WAY. Buy low, sell high folks.
Know the coin! With so many people tripping over themselves in the rush to acquire the next big thing, it's easy to overlook the fundamentals. Things to ask yourself before getting into a crypto investment:
- What is the technology this coin is using? Is it based upon another blockchain?
- If so, what is the long term viability of this coin?
- How active is the github repository?
- Does it have an important real world usage?
- Have you looked at their website and read the white paper? Just because a website is snazzy does not guarantee success.
- Where is the organization primarily located? Are there any impending regulations or geopolitical issues that could hurt it?
Finally, I would like to recommend looking into the following coins:
- Ethereum
- Qtum
- OmiseGo
- Lisk
- Pivx
- Zcash
- Kyber
Good luck out there! Keep at it, and if you do invest in Qtum, make sure you keep the coins on an exchange such as Bittrex over the date of October 4, 2017, as they are doing a swap and the exchanges have the smart contract infrastructure to handle a process of that magnitude. To the MOON!!!
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Looks like I had his name wrong. It's Ryan Lye. if you're out there reading, apologies buddy.
Agree with your post, Ryan and the other guys at crypto grinders are knowledgable in the crypto sphere, so worth looking at some of their videos and judging for yourself.