Coveting the soaring rise in digital currencies around the world, many newbies with no experience in trading are set to venture the track. Trading for beginners however, will have a hard time deciding which coins to buy. Unlike most trading assets anything on the internet (forex being the main one), cryptocurrencies are steeped in volatilities. This can put off many individuals.
Check out this quick guide which covers where to find crypto coins, as per the views of Waqar Hassan. He is known to have had years of experience working as a crypto analyst and knows how to help people find the right assets.
Where to Find New Assets
Think of this: if you’re going to put some money in cryptos, it’s most important to think about investing in an asset that works for your portfolio, and, more importantly, get your mindset right before selecting a crypto asset, because there really isn’t such a thing as a golden goose you can buy, open one day, collect returns the next, and know it’s yours forever – trading in crypto is a process, something you need to manage. (You can’t get out of trading, not if you want to profit handsomely; you have to manage how your assets work together as part of your portfolio.) Lastly, having decided on these parameters, it’s time to go here and look for new assets to buy.
Social Media
Perhaps one of the most efficient approaches to finding a new type of assets is if you are using the social media. I followed many crypto specialist on my social media channels and I will often get updates from them about the hottest crypto trends and assets. This will help me know what everyone is discussing at that moment. Also, you can try following the accounts of cryptocurrency tokens, most of them should also share updates about their services. X (Twitter) offers a lot of my favourite latest trends on the market.
Keep in mind that, if you decide to follow a crypto influencer, a majority of them follow the trends – and will most likely repackage the information about the market that they got from other industry experts to share it with their viewers. Therefore, you’ll likely need to take their advice with a grain of salt. Check their previous claims – have their predictions about the market come true? This should give you a better idea as to whether or not they can be a reliable source of information.
Data Aggregator
A second best option that you may want to review is the data aggregator. The data aggregator picks a topic set and then pulls information from across the industry for you. If you follow a crypto data aggregator, you will receive updates about the market in its rawest form. That being said, this is not that different from following social media related to the markets since the information that you will get is not as refined. Social media updates are a great resource for beginners that want the market info but in a raw and to the point manner. Data Aggregators leave it up to you to put together a conclusion based on the data that is being provided to you.
For example, a data aggregator like CoinMarketCap will track several different new crypto currencies. The data it collects could include pricing, trading volume and market capacity. You get a clearer picture of how that particular asset works and what other investors in that market are thinking about it. You can search for guides that can help you understand data aggregators and pull data like a pro.
Exchange
Of course, the exchange you’re using to make your crypto trades will have a ‘Discover new cryptocurrencies’ section in their service, something like Coinbase, a very widely used exchange on the market, has. They won’t tell you a lot about the currencies they are suggesting you take a look at. However, it’s a good starting point for what you want to add to your basket.
These exchanges appear to be a great source of finding new kinds of crypto, as after learning about them, you can use those exchanges to buy them as well. I believe a good exchange should have this feature, allowing a new trader to discover new types of asset, which would reduce the time spent on finding something you could put into your portfolio.
Other Tools
New crypto can also be found on exchanges, as well as by aggregators, but you will also begin to identify pointers to new crypto across other internet modelling tools, which will also help you check out several facts about them: Example:`PooCoin Charts aggregates information on a Binance Smart Chain asset, including prices, holders, contracts and asset transactions.`As this source only tracks their activity on a single exchange, you can drill down into a lot more detail about an asset – if you are willing to do some legwork and audit them.
By simply conducting an audit of an asset, you are able to gather information about the coin that is not necessarily known, such as whether the token is in fact sellable and if the ticket price for admission is less than 10 per cent. You can also determine whether this coin was involved in a scam or a hack of some kind, and thus be able to rescue your funds from a tolling that may be futile.
News Websites
Next, keep up to date by reading crypto news. A great resource to learn about the various types of tokens and assets is in the crypto news. You can find this on Coins.news, BitTribute.com and other sites focusing on getting valuable information to individuals about the market and what is happening at this moment. Crypto news sites are vital as they offer up-to-date information on not just market data but on all the new regulations and technological advancements in the industry. However, please note that these sites are not like social media when it comes to the editing process that goes into filtering information to you. Having a team of editors means that, as long as you are on a legit news site, you do not have to worry too much about receiving fake news or being misinformed about the market so that they can fit a certain narrative.
Start your Trading Journey Today
Getting better at crypto trading takes more than simply finding a good trading platform; it’s also important to seek out a variety of sources and services that can help you identify the right crypto assets to add to your portfolio. Waqar Hassan frequently used these sources and services as he explored various cryptocurrencies. 1. Crypto PremLM is a crypto system that aims to outperform the stock market while also minimising potential risks. 2. Crypto Market Alerts is a forum that provides news, signal providers, and crypto insights. 3. CoinCasso is a forum and crypto project that provides news and chat bots. 4. Q Shorts is a news and trading signal provider that works through Telegram.