Whenever we pick a stock for the investment we check that it is the stock that is holding the value of the company and how is the performance of that company.
We check the balance sheet of the company, such as how much profit is increasing how much revenue is being generated, along with sales, we also check their intrinsic value. We do proper fundamental analysis before investing in any stock.
What to check before investing in cryptocurrency
How to know which crypto is fundamentally strong or not, is what I am going to tell you in this blog. As there is underline business in stocks, it depends on its performance.
In cryptocurrency, its price is actually fluctuated because of hype, because of news and events, because of demand and supply this is what I am going to cover, and also I will give you my Top Five Cryptocurrency.
To get to know cryptocurrencies you will first go to their website and know who they are and what they are doing Will find out his team, who is the founder, how many well know, how much experience is in the crypto industry
The higher the market cap of that crypto, the more secure it is for us. Although the risk still remains, the more one is invested in that cryptocurrency, the higher the market cap then the slightly less volatile than cryptocurrency will be. After this, we will check who has invested in that cryptocurrency, who has partnered with that crypto project Like the Indian government has also worked with some cryptos.
Along with that, you will check which wallet has been held. It is not that only two to three wallets have held As with Dogecoin, which is somewhere under the control of those wallets.
As soon as you sell or buy, the price of the cryptocurrency will fluctuate Along with this, you read the white paper. Everything will be written on white paper on their website only about cryptocurrencies.
Who are they, what want to do, if you have white paper then you will get more clarity. along with this, you check how much is the supply, the lesser the supply, the more the batter will be,
That’s why those who have a lot of their supply like 1 billion or 500 million then they start burning their cryptocurrency so that the supply can be reduced and price increase If there is a hype of cryptocurrency, then why is it created, what is the use case which problem it is solving, you should check it before investing in any cryptocurrency.
Guys, my aim in every post is that I don’t waste a single second of you, I can give as much information as possible. this is important because a lot of frauds are happening on telegram, in the name of a lot of YouTubers specially cryptocurrency-linked youtube channels. So please don’t ever pay anyone especially on telegram.
So far more than 12000 cryptocurrencies have been launched which have a market cap of $3 trillion.
Among these, the number one cryptocurrency is bitcoin. the cryptocurrency was started with bitcoin it is the first and largest cryptocurrency It has a market cap of 929 billion dollars. So much amount is invested in it, now bitcoin which is used for payment and is used for investment
Now what was our first system of payment i.e. currency had many flaws in it as its control which is in the hands of the bank and in the hands of the government.
So it does not remain in the hands of the control bank or any third party, so this cryptocurrency was created on decentralization which is called bitcoin.
In one country, it has also been considered legal tender. Now it is being said that Brazil is also coming up with a law through which it will be able to consider bitcoin as a legal tender.
Apart from this, friends, because its market cap is very high, it is the number one cryptocurrency, if bitcoin increases then another cryptocurrency also increases, if bitcoin decreases then another cryptocurrency also decreases.
It was started after the financial crisis of 2008 to decentralize the finance world so that its control is not in the hands of banks or the government.
Ethereum is the second-largest cryptocurrency with a market cap of $399 billion Ethereum provides a platform where you can build your own blockchain and build your own decentralized application.
Using Ethereum’s technology, more than 280,000 coins have been created, many cryptocurrencies are made using Ethereum’s platform.
The aim of Ethereum is to decentralize the Internet. By using Ethereum’s blockchain you can create your own application, finance, NEFT, gaming, you can decentralize all industries. Ethereum also has some issues viz. Ethereum is very slow, 15 transactions a second, bitcoin 7 transactions a second, and there are too many alternatives to Ethereum coming.
Gas fees on Ethereum are also very high. Because of this, developers are shifting to alternatives to Ethereum. Ethereum also has some scalability issues.
Solana is a new cryptocurrency that was launched in 2020 only to solve the issues of scalability, slow speed, high fees of Ethereum and it is growing very fast, its transaction speed is very fast 65000 transactions per second. It’s also cheap and solving its scalability issues
There are so many blockchains now. So many smart chains have been made.
A lot of companies are coming up with their own blockchain and coming up with projects Now to connect all these together there is a crypto project which is working.
Polkadot is a multichain protocol working on the cross-chain transfer of data. Polkadot is also working on the possibility of transfer between public and private change.
The Polkadot is started only by the founders of Ethereum, you can create applications. Also solves Ethereum’s scalability issue So let’s talk about the crypto startup of the sponsor of this video which is based in New Delhi.
That’s why I picked it up and it has also created a monopoly in its industry. this is the cryptocurrency which is the blockchain, and the system which is providing the real-world data to the rest of the coins.
More than half of blockchain cryptocurrencies are using outdated technology for data storage.
Old information that is real-world information has to be brought on the blockchain. So it is working Chainlink and how does that information come, so only coders like you and us bring that right information, then they get Chainlink in reward.
Who can provide information to those who have a stake in Chainlink Those stakeholders who have taken a stake in the chain link can become the validator. And the same validators provide the right information.
Then Chainlink provides the same right information to all the rest of the cryptocurrencies in the real world.
Chainlink is providing service to most of all cryptocurrencies in the world, providing real-world data and I have picked Chainlink because the job they do is unique.
Not many other cryptocurrencies are doing this and they have created a monopoly in their industry to connect the blockchain to the real world.
LetsKrypto developers were getting so fast that they could not even spell crypto correctly
But it’s ok because it will be so exciting because I am also so excited because Indian startups and so many Indian startups are entering the crypto industry It is invested by the same investors who have invested in companies like Paytm, Swiggy, Unacademy.
And with them are Myntra, Payyu, Koinex, List Space, Founder, and Ex-Founder of Bounce. they also have a liquidity partnership with Binance But the most amazing feature is their feature on crypto, through which you can pay in cryptocurrency at any shop anywhere in India.
It has zero trading fees, so no commission will have to be paid to you on crypto trading. With Instant Deposit or Withdraw, you can deposit and withdraw money instantly With the Send Cryptocurrency feature, you can also send crypto to your friends without any charge. send me if you want On registering it, you will definitely get some cryptocurrency,
Hey! Use my Code: G9YC1U and get up to ₹100 in your Krypto wallet to buy Bitcoin or any Crypto for Free.
One lucky winner wins ₹1,00,00 in Bitcoin every week. Hurry up event ends soon!
Download Now: https://letskrypto.com/refer?code=g9yc1u
Cardano is on my list of top ten cryptocurrencies.
This is also an Ethereum killer and it is a long-term coin and all the stakeholders they have means 70% stakeholder which they have held means they are long term.
Vechain working in the supply industry and it is the number one cryptocurrency in this industry It wants to decentralize the supply industry using Blockchain i.e. it has a monopoly in this industry.
Matic Polygon is an Indian startup.
He has also done projects for big companies and the Indian government.
This is also an Ethereum killer. Its speed is fast, cheap and it solves the scalability issue of Ethereum.
That wants to decentralize the internet itself and they are working on many projects.
They can also check the video by going to the I button. And my last cryptocurrency is Dogecoin. Don’t be surprised now.
Because the price it is getting is being hyped because of Elon Musk or any other reason.
So if I take entry and exit on time then I will earn a little profit.
Binance registration Link: https://accounts.binance.com/en/register?ref=12901625
Referral code if ask 👉12901625
Wazirx registration Link: https://wazirx.com/invite/7y9mt
Referral code if ask 👉 7y9mt
Keep Learning and Keep Earning