MARKET TOP SIZE ANALYSIS

Among all our advice given, we still have to talk about one very important point: the total market capitalization of a cryptocurrency in which you want to invest. This will be our eighth point.

Many beginners rely solely on the unit value of a cryptocurrency (the price) to determine its growth potential. This is by no means the correct indicator to determine the margin of progress a cryptocurrency has.

To do this, we must analyze 2 different factors:

1. Your total capitalization (market capitalization). This is calculated by multiplying the unit value of a token by the total number of tokens in circulation. A high market capitalization with lower growth potential than a weak market capitalization.
2. The capitalization increase from the ICO. A cryptocurrency that has already gained a lot of value as its ICO is less likely to progress. Conversely, cryptocurrencies that have fared well since their ICO can turn out to be scams.

Therefore, it will be necessary to be very careful with high caps and do careful research on the cryptocurrency whose value has fallen since the ICO because that can mean several things:

1.The project is a scam.
2. The team is working hard on the project and putting marketing aside for now.
3. Market conditions were very unfavorable and capitalization fell along with the rest of the market.

TRACK YOUR RESULTS

Now that we have seen all the best practices to invest correctly in cryptocurrencies, our ninth point will explain how to follow the evolution of your portfolio.

After investing in a project, 3 scenarios can occur:

1. you earn money
2. Your investment remains stable
3. You lose money
Tracking your results can be complex because you have to check each of your assets one by one and see how they have evolved since the last moment you saw them.

Fortunately, there are smartphone apps that will allow you to automatically and instantly track your results.

To do this, you will simply need:

1.The amount you own
2. fill in your cryptocurrency
3 purchase values
4.The date of purchase

The applications will provide you with a wealth of information.

Here are the two mobile phone apps that will allow you to keep track of your results wherever you are:

1. Blockfolio
2. Delta

Try these two applications and choose the one you like the most. Be careful, these applications are addictive and you may see the evolution of your crypto wallet every 5 minutes.

SECURE YOUR CRYPTOCURRENCY

Our tenth and final tip is on the security of your cryptocurrency. You've probably already heard of bitcoins stolen by hackers. Although regrettable, these stories are sadly true and have always been at the same level: in the cryptocurrency exchange.

Therefore, it is advisable to be particularly cautious and not store your cryptocurrency on exchanges. It will be stored in what is called a cryptocurrency wallet. For this, there are different options:

• A Metamask wallet for ERC-20 tokens
• A physical storage medium such as Ledger Nano S
• A dedicated wallet for specific crypto.

In this way, you eliminate almost any risk of losing your cryptocurrencies.

CONCLUSION

So here we are at the end of our guide with our advice to optimally invest in cryptocurrencies. We hope this helps you make the best investments at best. And above all, it will save you from making mistakes that can be costly from a financial point of view.

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