In case of having done the essential background research, you should check a few more essential elements before you set your heart on these damn cryptos.
I) The Crypto community. Surely the company behind the project can play a role in the direction the crypto goes, but the network that participates in the crypto’s blockchain technology is also an important key, like miners & developers. Most cryptos have their own forum such as Reddit, Steemit, Telegram, etc., so you can have a sense of what type of people are involved in the cryptocurrency.
II) How many and which Exchanges support your crypto. As a general idea, you have to make sure that your crypto of choice is supported by many different and reliable exchanges. After all, exchanges watch carefully which cryptos to carry. Furthermore, the more the good exchanges they carry your crypto, the more the chances the demand to be higher. You can check in coinmarketcap or coingkecko which exchanges support each coin.
III) The Coin’s Tokenomics. To set it simple, anything that can affect your token’s value is part of the tokenomics.
What is the current crypto’s market cap? How many coins or tokens currently exist? How many will exist in the future or is there any burning mechanism? The fewer the circulating coins, the higher the chances to be more valuable in the future.
Does your cryptocurrency use the ERC-20 standard, cause of being built on top of the Ethereum blockchain? You know what it means for any microtransaction payments on the network. The Defi boom is exposing Ethereum’s scalability issues and gives the opportunity for ETH competitors to rise & shine.