How To Research Crypto In 2024: Ultimate Guide!!

Summary

This video script offers a comprehensive guide to researching cryptocurrencies for potential investment. It emphasizes the importance of understanding the technology and market potential of coins and tokens, identifying key narratives likely to drive the next crypto bull market. The speaker, Guy, suggests starting with a curated list of cryptos, analyzing founder interviews, secondary sources, media coverage, and project blogs. The ultimate goal is to pinpoint cryptocurrencies with high growth potential for one's portfolio.

Takeaways

• 🔍 **Research is Key**: To become a crypto millionaire, one must conduct their own research to identify promising coins and tokens.
• 📈 **Identify Big Narratives**: Focus on cryptocurrencies that align with narratives likely to dominate the next crypto bull market, such as AI, tokenized real-world assets, and decentralized social media.
• 📋 **Create a List**: Make a list of cryptos within each narrative, considering factors like price, market cap, and accessibility to retail investors.
• 💡 **Low Price Tag**: Look for coins with a low price as they are perceived to have more potential for growth by retail investors.
• 🏦 **Market Cap Consideration**: Include a mix of large, medium, and small cap cryptos in your list to balance risk and reward.
• 🌐 **Accessibility**: Ensure the cryptos on your list are accessible to retail investors, particularly those in the United States.
• 🗣️ **Founder Interviews**: Listen to interviews and presentations by project founders for insights that may not be found elsewhere.
• 📊 **Secondary Sources**: Utilize summaries from reputable companies and metrics for user adoption and activity to validate project claims.
• 📰 **Crypto Media Coverage**: Assess the project's legitimacy by its coverage in crypto media outlets and the consistency of information.
• 📝 **Project Blogs**: Examine the project's blog posts for historical milestones, technical issues, and future plans, ensuring transparency and consistency.
• 📚 **Documentation Review**: Thoroughly review the project's documentation for critical information on how it works and its tokenomics.
• 🔎 **Website Sweep**: Go through all associated websites of the project, noting any inconsistencies with primary sources and the project's portrayal to investors.
• 📈 **Portfolio Building**: After thorough research, select a few promising cryptos that could potentially 'moon' and are worth adding to your portfolio.

Q & A

What is the primary advice given for becoming a crypto millionaire according to the video?

The primary advice is to do your own research on cryptocurrencies, understanding their potential, and how they work.

What is the first step in researching cryptocurrencies as suggested by the video?

The first step is to identify which cryptocurrencies are worth researching by focusing on narratives likely to be significant in the next crypto bull market.

What are some of the narratives mentioned in the video that could be significant in the next crypto bull market?

Some of the narratives include AI, tokenized real-world assets, gaming, decentralized social media, decentralized physical infrastructure, and possibly quantum computing.

Why is it important to consider the price tag of a coin or token when making a list for research?

It is important because most retail investors believe that a low price tag means the crypto could have a higher potential for price increase, even though market cap is what actually determines its potential.

What does the video suggest regarding the market cap when creating a list of cryptocurrencies for research?

The video suggests creating a list that includes a mix of large cap, medium cap, and small cap cryptocurrencies to balance risk and reward.

How can retail investors ensure the cryptocurrencies on their list are accessible?

They should make sure that the coins and tokens on their list are accessible on exchanges and to retail investors, especially in the United States.

What is the coin Bureau Club and how does it assist in researching cryptocurrencies?

The coin Bureau Club is a membership service that provides weekly reviews of promising coins and tokens, daily market updates, and exclusive channels for discussing crypto trends, helping members who don't have time to research cryptos themselves.

Why are interviews and presentations by crypto project founders considered valuable resources for research?

They are valuable because they often reveal important information not found elsewhere and can explain the project in a way that is understandable to the average person.

What are some secondary sources and statistics that can be used to research a cryptocurrency project?

Some secondary sources include summaries from reputable companies like Binance Research and Masari, while statistics can include user adoption metrics, social media engagement, and on-chain data.

How can the crypto media coverage of a project provide insights into its legitimacy and potential?

Coverage by reputable crypto media outlets can indicate a project's legitimacy and potential, as these outlets typically report on projects that have significant developments or are of interest to the crypto community.

What is the importance of checking the documentation of a crypto project during the research process?

Documentation is crucial as it contains detailed information about how the project works, its tokenomics, and future plans, which are essential for a complete analysis of the project.