There are currently over 6000 different types of cryptocurrencies in circulation. For someone who's just getting into cryptocurrency, it can be an overwhelming task to identify the best coins to invest in
There are currently over 6000 different types of cryptocurrencies in circulation. For someone who’s just getting into cryptocurrency, it can be an overwhelming task to identify the best coins to invest in. But just like human beings, cryptocurrencies also have certain qualities that differentiate the good from the bad.
Remember the (in)famous Squid Game coin? It soared from 1 cent to $2856 per coin in the space of just a week before the scam revealed itself when the developers made off with an apparent $3.38 million, according to a popular tech website.
Here are the top seven characteristics you need to look at when you evaluate cryptocurrencies.
1 – Security
Your cryptocurrency needs to be chosen with your financial security in mind. The ideal cryptocurrency will have security build into its native design. This means apart from 2-factor authentication and complex passwords, it will also include safety features built into it to prevent itself from getting hacked.