In my first post I mentioned how to sift through wallets to try and find hidden gems that people in the know are hodling but haven't hit the airwaves yet. This post I will show you 2 tricks that beginners might not know, both involving the use of coingecko. The first one is for people that are still struggling trying to get the hang of uniswap, 1inch, sushiswap, etc.
And the 2nd is a way of doing some more research after you have found a coin that you think you like.
Sometimes when you go to add a token on uniswap so that you can buy it, you have to add it as a custom token. You have to go to etherscan or somewhere else that has the token address and retrieve it so that you can paste it in the custom token address field.(You also first have to add the token to your metamask, or whatever wallet you are using.) One of the ways that this can be problematic is that people sometimes make imposter tokens. If you type the token name in etherscan and it pops up scroll down and check when the last time there was a transaction. If it is a coin you know is currently being traded a lot but the last transaction was 2 years ago, chances are you haven't found the token you are looking for. A way to avoid this is to search for the token on coingecko. And then click the etherscan link across from "Explorers"
Coingecko is my go to place for checking current prices and getting addresses. There are probably more accurate up to date ways to check prices, such as on an exchange itself, but when I am just surfing around checking things out I go to coingecko.
Another thing I mentioned in my first post was researching a coin you think has potential by going to the teams website. Something you can do on coingecko that is also pretty neat is see how active the team is. You can click on "Developer" in the "Overview" section and it will show you the Commit Activity as well as Code Additions/Deletions. This can give you an idea of whether or not the developer is hard at work or if the project has stalled out.
One final tip for beginners is when in doubt, hodl. It can also be worth it to double down. If you buy a coin at $2.00 and it drops to $1.00 you should never sell, in fact you should probably buy more...this way your average cost will be $1.50 and the coin doesn't have to climb as high before you can sell it all and head for the hills. Being a beginner myself I have already made the classic blunder of buying low, selling medium, buying back in high, and then selling ever lower. I had a stack of 3,000 coins, which turned into a stack of 1,500 coins, and then 800, 500 and finally 280. If I had held from the beginning I could have sold all 3,000 today for double what I sold them for before I aped back in on the fomo wave. Hodling won't always save you, but imagine being a person who sold their stack of 100,000 Doge a week before the moon mission.
