Effective Methods for Researching Cryptocurrencies

 

        Over the past few years, the amount of relevant information relating to cryptocurrencies has become enormous. As more people join the space, this number will only continue to grow. Many creative enthusiasts are regularly posting helpful and insightful comments, while still others are regurgitating mindless hype. Exercising discrimination while consuming media is an excellent way to replace fear with confidence. While we all have only a limited time we can set aside for research before going crazy, there are definitely ways to maximize productivity and understanding. I have summarized the main categories of informational mediums I look to below.

Articles (Coindesk, Coincentral, Steemit, etc)

        For many new users, internet articles will be the entry point for formulating a basic understanding of the cryptosphere. There are many great news articles with concise explanations of current events, opinions, and analysis. Scanning titles can be a useful way to absorb the overall sentiment quickly, while reading many articles in full can give a great advantage in understanding. Crypto articles on some of the larger (not mainstream) sites are often less biased than mediums such as reddit, youtube, or twitter. There are countless websites publishing articles about cryptocurrencies, and it is valuable to bookmark a few that aren’t overrun with advertisements, bias, or misinformation. I have found coindesk to be overall the most useful, though I have barely scratched the surface with many other sites.

Youtube

       Potentially one of the most comprehensive sources of quickly absorbing new information, Youtube is an excellent way to find both broad and narrow information. I often watch new channels at 1.5x or 2x speed in order to uncover new content more efficiently. This is a great way to get exposed to new coins, ideas, and overall strategy. There are already too many great crypto channels to count, and finding several to turn to when news hits is an excellent way to stay apprised of new insights. The level of analytical depth from many of these youtubers is astounding. Be cautious to consider whether these streamers are promoting their own portfolio, or actively looking to share valuable information and respond to feedback. At the moment, I personally like Crypto Bobby, Data Dash, Altcoin Buzz, and anything with Andreas Antonopoulos.

Reddit (Cryptocurrency, Bitcoin, etc)

       Browsing cryptocurrency subreddits is an excellent way to get an overall picture of hype and market sentiment of more casual and/or tech savvy users. Searching by top posts over various time frames is an invaluable tool to find compilation of opinions, advice, humor, and news. Reddit is definitely one of the more lighthearted (and sometimes contentious) modes of internet research. While you can often find more sincere opinions there, it is also far more susceptible to trolling and misinformation.

Podcasts (Lets Talk Bitcoin, Epicenter, Various others)

       As podcasting and bitcoin are becoming more popular it is inevitable that we will all soon have access to quality crypto related podcasts. This is an excellent way to continue research in the car or at work if you want to get informed. Many of the best podcasts I’ve heard so far seem to be at a very high level which leads me to believe we will see a huge influx of more mainstream podcasts over the next few years. Many of the non-crypto podcasts I’ve listened to have set aside episodes to in depth discussions about this new technology. If you already follow certain podcasts, dig deeper to see if they previously discussed relevant topics.

Chart Sites (Coinmarketcap, Coin Gecko, etc)

       These sites are indispensable for those looking to invest and/or trade in cryptocurrencies. They offer a picture of the market caps, volume, and charts, of virtually every crypto market that is being traded. Familiarizing yourself with the top 10 to 100 cryptos is an excellent way to not get surprised when specific coins are making a run. These sites provide an overview of the action and health of each market in such a compact way that it is almost necessary to use them in order to understand the more technical details of things. This is by far the quickest and most effective way to get an overall picture of what is going on in the markets. I have found Coin Market Cap to serve all of my needs, though there are and will be many other potentially more useful ones.

Exchanges (Gdax, Bittrex, etc)

       If you have hopes of trading you will need to familiarize yourself with exchanges. If you already are trading, you know just how valuable a comprehensive understanding of the platform is to making decisions with your coins. The tools on most exchanges are fairly straightforward though some may require more consideration for the beginner. Observing exchanges is the best and only way to get a picture of the immediate market action as well as the general trading habits of other users in the space. While these sites are by no means for beginners, there is a good deal of valuable information to be gleaned by merely observing the candles.

Twitter

       Virtually every valuable or visionary coin on the cryptocurrency market has a strong presence on twitter. In addition to various projects, there are also many crypto enthusiasts willing to share information. While this method of research can be more tedious due to the addicting nature of social media sites, twitter has the potential to be very valuable for investors capable of discerning useful information from trash.

Networking (friends, chat rooms, Meetup groups)

       Potentially the most impactful category of them all is networking. Bitcoin is fundamentally a network based system, and so it is no surprise that its enthusiastic users are finding great value in contributing and learning from networking. As there is a practically insurmountable quantity of information out there, I have found it quite useful to team up with friends to tackle large amounts of research and share findings. Chat rooms such as slack, discord, and even youtube are decent ways to bounce ideas off of strangers in real time or to get exposed to what everyone is talking about. Bitcoin meetups are networking on a different level entirely. Many of these meetup groups are filled with enthusiastic and experienced bitcoiners willing to share their informational wealth along with complete newbies eager to learn. I highly suggest attending some meetups if you haven’t already as they are an excellent way to get exposed to the range of activity in the cryptocurrency world.

More

       This list is by no means exhaustive, simply the mediums of research I have found most accessible and useful. I am confident that there are more that I have missed that you will find. It is worth considering the motives behind each and every bit of information you come across. While numbers and sober opinions tend to be more truthful, research can get very easily obscured by hype, emotion, team-based mentality, misinformation, etc. Caution and critical thinking are valuable skills to use before making big decisions. Equip yourself with as many tools and as much relevant information as you can because this will ultimately lead to better success and an all around more enjoyable time in the cryptoverse.