02-20-2024 icon

Five Ways to Research Before Investing in Crypto

By Lucy Adegbe

The crypto market is very unpredictable. This is because coin prices move faster than you can blink, and this means you have to understand how to move on these streets.

To be a successful crypto trader, you need to know how to do crypto research and make informed decisions. To give you a sense of direction, this article covers all you need to know as far as crypto research is concerned. These include the best market research methods and the dos and don’ts of crypto research.

Use Market Aggregators

Considering that there are thousands of coins out there, keeping track of them all can be a challenge. This is why market aggregators are useful:

  • They provide information about different coins, and you can use that for your research.
  • Today, the most popular aggregator is Coinmarketcap. But, several other websites provide information on crypto prices and data
  • They show you the market prices in real-time, and it let you know the coins doing well and those that aren’t.

As you research, these aggregators will be a very important tool for you. Ensure you find one that’s easy to use so you don’t have to waste so much time getting the hang of it.

Take a Free Course

Sometimes, it helps to go back to school. This also covers taking a simple crypto course. Crypto courses give you a good foundation to begin your crypto journey. This way, when you do more research, you understand what you see. Currently, some crypto courses are free while others range from $15 to thousands of dollars and are usually long.

Read Crypto Blogs

There are hundreds of blogs and websites that give crypto market updates. You could check them to see what’s hot in the market. Crypto blogs are great because they also have social media accounts. In fact, a lot of crypto influencers use these blogs’ social media accounts when citing their sources. The biggest crypto blogs have an active presence on social media, and you can easily follow them to get the hottest market updates.

Use News Sites

News platforms are also a great source of information. By learning how to do crypto research, you’ll get a ton of information while scrolling through them. The major difference between news sites and regular blogs is that they have more opinion pieces.

While blogs give you the news and stop there, these news sites also tell you opinions on hot topics, and they share new insights that you might not have considered before. In other words, they are great at research and aren’t ashamed to show it.

Join a Community

The truth is, you can’t do life alone. Everyone needs a community – and when it comes to crypto, you can take advantage of several communities available. From social media groups to communities on platforms like Telegram and WhatsApp, there are so many groups of people looking to help you out. For instance, the Nairaex Telegram community is a great place to meet like-minded people with a keen interest in cryptocurrency.

Bottom Line

While learning how to research is essential, getting a great platform to begin your crypto journey takes you a step ahead. This is where Nairaex comes in. Nairaex is Nigeria’s premium Bitcoin exchange where you can trade cryptocurrencies seamlessly. Visit nairaex.com to start your crypto journey today!