Many of the people who have been into Crypto for a while will probably not need this, but I see a lot of new people on Uptrennd everyday, and many are new to Crypto and this will be highly useful information to them.
So when you decide to buy a coin or invest in a project, there are four essential things that you should heavily research on to be sure that it is a viable project and will make you money. So straight right into it, the four things in no particular order are:
1) Technology: One of the biggest things you should always bear in mind is that every Crypto project is aimed at solving a problem. There is a technology behind them, so you have to research if that technology is viable to invest in them. For instance, Uptrennd is a curating platform, the technology is that it aim gives you freedom of speech while giving everyone whether one with a thousand or zero followers the chance to be equally seen. Now that is a viable technology and will be sure to blow up, so you might want to invest in it.
2) Mass Adoption: This closely follows the technology. Mass adoption means is it capable of being used by a lot of people. If a project has the possibility of mass adoption, then you should probably invest in it. This is because as more people come into it, the price will go up. For instance, the Parachute token on Telegram is achieving mass adoption and their technology I heavily used on Telegram, so that is one project I expect to go up soon.
3) Founder and Team: This is one thing you should heavily research into, because it determines a lot. No project blows up immediately, it takes time and conscious effort by the team for it to grow, if the founder and the team are not determined, knowledgeable and strong they can quit and the project will die like many others before it. So you want to check if the founder has previous experience and has a capable team around him. Also if the founder is not of the right reputation, it will affect the project. For instance, I knew of a project where one of the founder was a stripper and many investors dumped the coin. So research on the founder and team to save you heartache.
4) Partnerships: Research on meaningful partnerships between the coin and major players. Cryptocurrency runs on news and when there is big news about a partnership, it is sure to boom coin prices. For instance, Jack the CEO of Twitter is a big Crypto fan. So tomorrow if we heard that Twitter is partnering with Ethereum, for Eth to be used as a source of payment to Twitter staff, that is big news and will surely affect prices. So look out for partnerships and big news on the project.
Those are just some things to check for before investing in a project. Always endeavour to Do Your Own Research (DYOR) before putting your money anywhere. It is not just a meme on Twitter, it is a necessity.
