There are literally thousands of different CryptoCurrency/Blockchain projects out there and new ones launching everyday. This makes it very difficult to quickly assess which ones look promising and which dont.
So below are the key points you need to look at to get a good idea to if a project warrents further research before buying/investing, mining, staking or starting a Masternode.
Key Figures: Look up the key-figures like current marketcap, circulating supply, total supply; compare the these to other projects/competitors in the space on Coinmarketcap.com . For example, if you look up NEBL, compare it to the marketcap of STRATIS e.g.; when it comes to the supply look for anomalies, like a small circulating supply but a huge total supply. And if this is the case, you should check their distribution model later, things that could have a negative impact include large premine, very high new coin issueance/infation and concentration of holdings. 1-2 minutes
Project Activity: Check out Bitcointalk.org for the official announcement thread; here you will (or you should!) find essential information about the idea and concept of the project. More important, you can see pretty fast how big and active the community and the official team; most devs are active in their threads. Have a look at recent comments and get a general feel for where the project is heading 3-5 minutes
Github Activity: It is also wise to check the latest GitHub respositories. However be aware that an empty or not recently updated GitHub doesn’t mean a project is dead, this is a common rookie mistake. If other indicators are showing activity of the (dev)-team it’s fine. 2-3 minutes
Website: is there detailed information about the project, like a decent whitepaper? A roadmap? Informations about the team? Do they link to their social media accounts like Slack, Twitter, Reddit, if so, is there activity? 5 minutes
If after checking all the above, the project still looks promising then you need to do a more in depth analysis. However this should give you a decent idea of how good the project is and help to avoid fakes, scams and dead projects,
The best present you could give a friend or love one may be their first ever Bitcoin. Whether its £5 or £100 it could make a unique gift and introduce new people to a revolutionary technology.
There are many predictions being thrown around by so called “experts” on the potential future value increase of Bitcoin. Who knows you might make your friend or loved one rich in ten years. If not they will still hold a piece of history, the original invention of Blockchain and Cryptocurrency.
How to gift Bitcoin?
You may have your own crazy and original ideas for gifting Bitcoin but here are a few to get you started.
1. Simply Set them up a wallet on their phone or computer and send them some lovely Satoshi’s.
2. Use my easy to follow guide to make them a personalized paper bitcoin wallet, this way the recipient doesn’t need any technical knowledge This way its secure and can be kept safe for years to come. GUIDE HERE
3. Load up a Bitcoin hardware wallet like the one below, this way the wallet can be part of the gift but expect to pay £60-£90 before you even load any Bitcoin. BUY HERE
I was looking for a quick, easy and free app so that i could keep an eye on the value of my crypto on the move and came across Blockfolio. I tried a number of similar apps but this one was the easiest to use and has some great features. As you can see from the screenshot above the home page gives you a quick view of your portfolio, its value and what price movements there have been. The handy graphs give you an in depth look at each coin when you click on them. You can select which exchange to use, customize the timescales (24h, 1 week, 1 month etc) and most importantly view in fiat value and Bitcoin value. It does require you to manually input the data so maybe not the best for heavy day traders. However for the casual bag holder you can save your purchase price and track its performance against current market price. I would not get carried away checking every 5 minute price dip and don’t forget to zoom out to 3 – 12 month price ranges every now and then. All in all a very well built app that works nearly flawlessly. Available for both Apple iOS and Android.
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What is the Blockchain and how does it work?
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This site is designed to bring together all things blockchain and CryptoCurrency for anyone including beginners and more experienced users.
Many people think that Blockchain technology will change the world by disrupting industries, decentralize power and democratizing financial systems.
Get involved before its too late!!