@CryptoSorted 31 October 2021 more from that month

7 things to look out for before investing in any cryptocurrency project The only way to make real money in crypto is to play it long term, by investing in projects with real-life use cases and the potentials to remain relevant several years from now. As such, aside from unlimited patience, the most important skill you require is the ability to determine which projects have the potential to survive and thrive for years in this highly volatile, fast-paced, and competitive cryptocurrency market. That's why, in this post, I have prepared a checklist of the top 7 things to look out for before investing in any cryptocurrency project. These indicate that the project has solid fundamentals: 1. Innovative and working product or technology. Is the project a copy and paste of another, "just another xxx" in its niche, or come with novel solutions and features? Furthermore, is the product in high demand and technology good enough to match competitors? 2. Competent and committed team. Both in product and features development as well as marketing. 3. Limited and fixed token supply. Anything above1.5 billion or infinity supply is almost always a turn-off for me, except the coin has a very huge market, multiple solid use cases, and effective tokenomics. Furthermore, any project with more than 2 tokens is also a complete turn-off. I hate multi-token models. I see them as excessive money grabs (greedy devs) with poor tokenomics ideas. 4. Solid use case(s) that will maintain consistent demand and make the token scarcer with time. The more use cases the project has, the better. 5. An active and growing community. A supportive, growing and socially engaging community. The more people there are talking about and promoting the project the better. A larger and growing community also means more people are using or interested in the project. 6. Relevant partnership(s) that will help broaden the projects reach and visibility, and strengthen its market position. 7. Known private or institutional investors and advisors especially when the team is anonymous. Sometimes knowing that a popular individual or corporate investor or advisor is involved with a project gives some level of confidence. Now over to you, what do you look out for to determine the potential viability of a project before investing in them? #cryptocurrency #crypto