pick your next crypto investment

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How to pick your next crypto investment (plus Wirex picks for 2018)

January 3, 2018 5:32 pm Published by

Last year we witnessed a massive swarm of newcomers into the crypto market – new ICOs, new tokens, new investors left right and center.

Every day, we’re seeing more media coverage. We’re hearing more people talk about it. The community has grown tenfold, and it’s not going to be slowing down in 2018. We definitely won’t be.

With everyone back in the office (post-holiday), our office has been buzzing with the latest crypto movements and debating about the hot crypto project of the moment.

We have healthy conversations based on our own research and perspectives – we empower each other to do our own research (so we know what we are talking about), and we encourage you to do the same.

The secrets to picking winners

There is a tonne of information out there, it can be hard to make sense of it all. And with more than 1,300 alt-coins to choose from, it’s no easy task to tell apart the scams from the potential winners. The secret is that there is no shortcut. You have to do the homework and understand it for yourself.

We recommend that you learn these basics of any project before deciding:

  • Understand the problem it is trying to solve – What is their ‘why’? Are they trying to solve a problem that doesn’t need solving? Can you relate? Do you see it being solved with the proposed solution? (You can usually dish this out from their website and whitepaper)
  • Study the team behind the project – Who is involved and what experience do they have? Are they active in the community? (Evaluation their communication on Telegram, Reddit, BitcoinTalk and Twitter)
  • Product Roadmap – Take a look at their roadmap and see how far along they are in the process. Do they have a prototype/beta? Are there new features being released? Are they meeting proposed deadlines?
  • How much is already invested? Assess the valuation by the current market cap. The price of the coin is correlated with the value of supply and market capitalisation. Is there room for more growth or is this already overly invested for the stage of development that the project is at?
  • HODL or short-term play? Whilst quick profits can be realised with upcoming good news, some coins are best long term. Remember, ‘Rome wasn’t built in a day’. Having a clear plan on what you want will set realistic expectations for yourself.
  • Keep an eye out for entry point – We’ve seen time and time again a lot of new coins reaching all-time highs and jumping up 80% in a day – only to retract moments, weeks, months later. Learn the basics of fundamental/technical analysis to help you identify the best entry points.
  • Stay informed – Like anything in life, priorities and outcomes may change. It’s important to stay up to date with the project of your choosing. Keep an eye on the team’s communication channels for updates as well as price, and all of the above. Check yourself, before you REKT yourself.

Investments are less risky when you’re well informed. To stay informed, sign up to our crypto savvy mailing list.

Team punts for 2018

We all certainly have our favourites, and we’re not shy about sharing it with each other.

We asked around the room for the marketing team’s top 3 favourites, here’s what we’ve all come up with:

  • Litecoin, Dash, Populous – Gavriel Shaw, Head of Marketing
  • NEO, IOTA, ARK – Jack Bartlett – Campaign Manager
  • OMG, NEO, Civic – Katharine Suy, Content Manager
  • Litecoin, IOTA, Monero – Nelson Prakash, Affiliate Manager
  • Dash, IOTA, NEO – Raphael Shalaby, Community Manager
  • Ripple, Walton, Litecoin – Zak Hussain, Paid Advertising Manager
  • Bitcoin, Walton, Dash – Imran Khan, Head of Communications
  • IOTA, RaiBlocks, Stellar – Daniel Keen, SEO/Website Intern
  • Litecoin, Dash, Bitcoin – Laura Marchten, Campaign Intern
  • Bitcoin, Litecoin, Ripple  Charlotte Wardle, PPC Intern
  • Bitcoin, IOTA, Dash – Dan Ellis, Social Intern
  • Dash, NEO, Stellar – Michael Shalaby, Research Intern
  • Nebulas, NEO, OMG – Peter Tran, Editor

What are your picks?

Tell us in the community forum 🙂 Let’s get those healthy conversations going.

Let’s not pretend we have anything else we’d rather be doing.

This article has been published for educational purposes only and does not constitute as financial advice.

Notable Replies

  • Daniel_Keen

    Anyone got any picks they thing will do better than the ones on here?

  • report.wirex

    @system Your card’s are not authorizing payments from Amazon-AWS please make sure your cards are authorizing payments form Amazon-AWS. Thank You.

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