New to #crypto ?, this is how to DYOR (do your own research) on any coin before you hop on it 🧵🧵
RT FOR OTHERS
First you need to download all these apps you have here.
There are the tools you’ll need for your fundamental & technical analysis
- go to coin market cap and type the name of the coin you want to research on.
- it will bring out data like you’re seeing in the frame 2 & 3. Read them and the attached links
At the end you’ll have an idea of what the coin is about, where to buy and the likes.
Go to coin gecko and check the date of the ATH ( all time high) & ATL (all time low ). From here you’ll have an idea maybe you’re buying the top or you’re buying the bottom
It’s not advisable to buy the top. Always buy lower and sell higher. You can also set alert on this coin
I made a thread before on what to look out for when you want to know a good crypto currency, follow the tips here while doing your research and note those things
I forgot to add market cap in the thread. Look out for a good market cap is important.
Market cap, is the market value of a publicly traded company's outstanding shares. You can know this from the CMC app
E.g with $99bn market cap as at the time of this screenshot.
Before we continue, I buy & sell crypto currency at good rate. Kindly patronize me or refer me to your friends don’t let me die of hunger 🥺🤲🏾. #bitcoin#bnb $USDT $ETH $SOL
After checking the market cap if it falls in low cap, mid cap, large cap or mega cap. Check social media, crypto news channel and see what people are saying about it. That will give you an idea if it’s a good one or not.
Proceed to do your technical analysis & find a good entry to buy or sell.
One other thing don’t put your emotions in trading, the market doesn’t care about you. As you’re pressing a buy button, someone else is pressing a sell.
Before you buy your first NFT these are the things you need to look out for ;
1. Supply; the lower the better, low supply create high demand. Not all tho
2. Art ; is it really attractive to you & does it follow the market trends. If it goes to zero would you still be happy
…holding it ?, if the answer is no then you should avoid it.
3. Team ; personally I hate putting my money on an inexperienced team or anon team. A project is as important as the team behind, who are they ? Are they reputable people ?, are they doxxed ?.
4. Mint price ; is the mint price low or high like a sort of cash & grab. Most low price mint get sold out in mins & get more secondary buys, because some people missed out
5. Limit per wallets ; this help to balance the owners to supply ratio, if the owners ratio is lower…
if you’re thinking maybe you’re too late to buy a coin, just use DCA strategy & HODL.
What’s DCA strategy & how do you use it to make profit ?. RT for others on your TL 🧵👇🏾
For example you’ve $1000 you wish to invest on $FTM & you’re scared you might buy the top & lose your money. This is how you do it 👇🏾👇🏾👇🏾
Divide your $1000 into 3-5 equal parts, the goals of DCA are to; minimize losses, manage emotional stress, save you cost, reduce risk…
increase your chance of making profit.
Let’s say you’re a noob but you don’t have any risk management strategy. So you went all in at the top, at the moment your portfolio will be in dip & you might panick sell coz you don’t know maybe the market will go up or continue down.
“ what’s this NFTs thing that everyone has been talking about ? “
- NFT simply means “non-fungible token”. An NFT is a digital asset that represents real-world objects like art, music, in-game items and videos.
Rt are appreciated. 🧵🧵🧵
non-fungible token is a one-of-a-kind asset that lives online & is managed in a digital ledger. These digitally unique assets are attached to a distinct value with a certificate of authenticity, so even though it exists online, the asset can't be easily and endlessly duplicated.
So why are people willing to spend millions on something they could easily screenshot or download?
- bcos an NFT allows the buyer to own the original item. Not only that, it contains built-in authentication, which serves as proof of ownership.
This is how to recovery your trust wallet recovery phrase incase you forgot to write it down somewhere safe in the first place or you can’t remember them again. #crypto
RT for others to learn
Step 1: you need to open your trust wallet app and tap on settings
Step 2: in the settings screen you’ll see “wallets” at the top. Tap on it to display the wallets that you currently have.
Step 3: open the wallet settings
If you already have several wallets created, this is how it would look like.
To access the settings screen for the Wallet that you want to Backup, tap on the i symbol beside it.
If you’ve granted permission to your Bsc wallet on TW either for airdrops, token swap, liquidity pool or staking. In case you were not aware, many of these permissions that you grant tend to remain active for a long time & in most cases permanently.
Follow these simple steps to secure your wallet and revoke access to your trust wallet, so one can spend your tokens.
Go to your dapp browser on trust wallet , like frame.
As a newbie in #crypto you’ll struggle with a lot of stuff.
This thread is on resources to help you navigate the ecosystem and make sure you invest on the right crypto currency.
RT FOR OTHERS 🧵🧵
First, this isn’t going to be easy. So prepare your mind to study every given links or resources to help you sharpen your trading skills.
Before you need to understand what Bitcoin, crypto currency is & what’s driving the craze
Watch this 👉🏾
For most people in this past of the world we use “Binance” app to trade. Lately there is an issue with their verification process, so most people are not able to verify their account well.
Don’t worry tho, you can still trade (buy / sell) with it, just that you can use p2p.