How to quickly discover a profitable crypto coin

moneycontrol.com:

Most traders and investors betting on crypto coins tend to believe they have the potential to soar in the short term.

Here is a guide to assessing the upside potential of digital currencies. We will also discuss aspects that make a particular coin suitable for investment.

Using CoinMarketCap for study purposes

We will use CoinMarketCap to select cryptocurrencies for possible investment because it makes it easy to maintain and track our portfolio while examining a cryptocurrency's specifics.

The website has no fees or hidden expenses.

You must always ensure that a cryptocurrency is well-known in the community before investing in it and make sure the coin has negligible chances of “rug pulling,” which could finish your capital. Rug pulling happens when fraudulent developers create a new crypto token, pump up the price and pull as much value out of them as possible before abandoning them.

CoinMarketCap's home page has a section that lists the top-performing currencies at any given moment.

Users instinctively click a lot on this part as it is the first page they view when they access the website.

One should not invest irrationally in these currencies simply because they are popular.

Before we delve into a coin's specifics, there are other reliable techniques investors and traders could use.

YouTube videos

Every month, a number of well-known YouTubers advise us on which coin to buy.

A lot of the time, their predictions work since the crypto increases as a result of the majority of their followers buying that specific coin.

A sample of these videos would be this one:  https://www.youtube.com/watch?v=rfwUhf7hBkg

Let us now examine the qualities that a coin should possess before you decide to buy it.

Step 2: What do you need to remember before