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STEP 1: GO ON COIN MARKET CAP



Coin Market Cap is by far the most used website by new and mature traders - the website lists over 1000 cryptocurrencies in order of Market Cap.


What’s a ‘Market Cap’?


Market Capitalization a way of benchmarking cryptocurrencies and understand it’s size, it is calculated multiplying the price by the circulating supply.


Market Cap = Price x Circulating Supply







STEP 2: LOOK FOR UNICORNS



In order to qualify as a unicorn - a cryptocurrency needs the following requirements:


  1. A price between $0.01 and $15.00
  2. A circulating supply below 100,000,000

NOTE:


A UNICORN* IS HOW WE WILL CALL INTERESTING COINS THROUGHOUT THIS GUIDE







STEP 3: LET'S SEE OUR UNICORNS


Scrolling down the rank list I open a new tab with every Unicorn that I spot - and when I have gathered enough, I briefly look at:


Their charts, where and how much they are traded and the social tab.





STEP 4: MEETING THE UNICORNS


If I am getting a good first impression of the cryptocurrency on Coin Market Cap - I begin to dig in a little further with the research by:


  1. Visiting their website and evaluating their branding
  2. Look at their project and if interesting - read their white paper!
  3. Download their app or wallet to personally test their service








STEP 5: WHO IS BEHIND THE UNICORN


For me it’s extremely important to know who the team is, where they are from, what they have accomplished and who is backing them.






I tend to investigate quite a lot - I might do this by searching for articles about the team members or simply by looking them up on LInkedIn





STEP 6: WHAT DOES THE COMMUNITY THINK ABOUT THE UNICORN?


In a highly speculative market it is always good to know what the crypto community says and thinks about the Unicorn!


They might have information that is key towards the failure or success - but don’t take their word for gold, always dig deeper! This can be done by simply looking at Reddit





STEP 7: WHAT DOES THE UNICORN DO FOR IT'S COMMUNITY?


Many Unicorns completely ignore their community - forgetting that they are responsible for it’s success.


However, many Unicorns are really strong on having a strong community and they cultivate it through several social platforms - Twitter, Facebook, Slack, Youtube, WhatsApp etc.





STEP 8: IS OUR UNICORN FAMOUS?


At this point I would start digging deeper and deeper online - by searching articles, interviews, news or any press about the Unicorn





STEP 9: PUT THE UNICORN ON A WATCHLIST


Don’t buy it straight away - look and study its chart over a couple of days!





STEP 10: BUY!


Wait for the dip and buy - there is ALWAYS a dip!