The crypto market has now stood the test of time and proven it is neither a bubble nor a fad, while we have yet to see Bitcoin and the majors reach the mighty heights of late 2020, interest has widened.
Investing in cryptocurrencies requires a level of due diligence not too dissimilar to the research involved in other more mature asset classes. Due to the rapid development of Blockchain technology, a series of other cryptocurrencies have been born to serve many different purposes, making the overall coin market very diverse and choosing and making investment decisions is not easy.
Every investor when participating in the crypto market desires to find and buy the best coins to maximize profitability. Currently, investors with experience in the market are using the following common characteristics to evaluate a coin whether it is really worth investing or not.
- Have a clear, complete, detailed whitepaper.
A white paper is a document written by a corporation or project team which describes to readers how the company plans to execute a project that seems to be difficult. The key explanation for this is to help readers appreciate the project, discover answers or make choices.
The more transparent and clear the White Paper is, the higher the credibility of the project, the more investors it will attract. This is an important factor that contributes to the success of the project.
Take the BitcoinNami project whitepaper as an example. This whitepaper gives information about the project and why it is necessary, issues or problems the project seeks to address, current solutions and how it seeks to improve them, project description and roadmap, token distribution.
- Growth rate
This issue has always been at the core of every assessment process for any asset, and with the cryptocurrency market it is no exception.
Looking at the growth of the coin shows us its future development as well as forecasting the value of the coin to increase over time in the market. Is high or very high that investors will choose short-term investment or long-term investment for good coins.
- The technology that makes the coin
Because of their nature as “digital” coins, the technology that makes up the coin is always a criterion for evaluating its long-term development, although today most major coins like BTC, XRP, ETH all operate according to a common model and they are interconnected.
However, if you find a new coin and it has a different operating model but has a future that can compete with the model of today’s top coins, you should definitely consider investing in it early.
Looking in the technology of BitcoinNami, we can see that BitcoinNami is a network protocol that creates spaces where any type of data from different blockchains can be operated and exchanged quickly and securely. This means BitcoinNami is a true multi-chain framework, designed to facilitate cross-chain interoperability and scalability of blockchains. BitcoinNami can transfer the arbitrary data across public, open, permissionless blockchains as well as private, permissioned blockchains.
BitcoinNami unites a network of heterogeneous blockchains called parachains and parathreads. These chains connect to and are secured by the BitcoinNami Relay Chain. They can also connect with external networks via bridges. Besides, Bitcoin Nami’s relay chain is developed with Substrate, a blockchain-building framework that is the distillation of Parity Technologies’ learnings building Ethereum, Bitcoin, and enterprise blockchains. A flexible cross-platform network framework for peer-to-peer applications, libp2p is utilized in our networking handling the peer discovery and communication in the BitcoinNami ecosystem, which is positioned to be the standard for future decentralized applications. The BitcoinNami runtime environment is being coded in Rust, C++, and Golang, making this platform accessible to a wide range of developers.
- Exception calculation:
Certainly, creating a highly stable coin like BTC is not easy, especially in the current context that almost all altcoins are exchanged for BTC itself.
However, there is no way that BTC alone can create a miracle, so when you discover coins with great base value and high growth potential, you should pay attention to its possibility.
Following a coin has great potential from the start will help you make a huge amount of money when it is noticed by a large number of other investors.
For example: BTCN is the wave of the new era of DeFi. It starts with 1,000,000 units in genesis block and each block can create and contain 1 BTCN where the blocktime is 10s/block. BitcoinNami may be considered equivalent to a set of independent chains (e.g. the set containing Ethereum, Ethereum Classic, Namecoin and Bitcoin) except for two very important points: Pooled security and trust-free interchain transactability.
Total supply: 50,000,000
Cryptographic method: SHA256
Halving after: 1,555,200 block (~first halving after 6 months)
Investing is always a risky business. Therefore, before you decide to undertake any cryptocurrency, it is advisable that you research to identify serious projects from hastily organized ones that may simply be out to get your money. Invest only that which you could afford to lose if things go wrong.
Find more information via Bitcoinnami