The allocation of your Faucethub portfolio mix varies from person to person, depending on what you’re trying to get out of it. No matter how you diversify your portfolio, altcoins should certainly comprise a significant portion of it. With 14 cryptocurrencies at Faucethub, altcoins present a compelling investment thesis built on comparatively lower risk. The key here is finding the right altcoin(s) to invest time in from the multiple to choose from.
So how do you pick the best altcoin to invest/claim?
Well, the best strategy is to do your own research and understand a few indicators which could preface a sustainable growth for the coin. After all, most altcoins are either at a relatively early stage or haven’t seen substantial growth over their entire existence. Ultimately, interpreting the altcoin market relies on your understanding of trends and market capitalization to maximize your returns. Follow their social media accounts, monitor its price, and be patient.
It’s extremely important that you perform your own fundamental analysis of the coin before investing in it. Unlike traditional investments such as those made in real estate, crypto-investments rely on your understanding of the company through their financial statements and overall viability.
- The first thing you should look into is its website, which will detail the coin’s function and mechanics while also giving you a good idea of how successful it might be.
- Next, read and stay updated with the coin’s blog or writing platform. This will also serve as an accurate indicator of just how professional and knowledgeable their team is. Follow their page or stay updated by continually reading their pieces.
- Last but no least, look for online forums and see what everyone is saying about them. Although doing your own research is the most important way of determining a coin’s viability, these community forums may provide information that you may have missed.
- At the end of the day, the more you understand about the coin, the higher the chances of picking the right ones.
Conclusion: Perform your own independent research. Don’t waste your time watching random videos of other people receiving coins when you can do your own research. Chances are, you’ll find a diamond in the rough which many people are not aware of.