Welcome to the Part 2 of this series of 4 on How to spot a viable Crypto project. If you missed on the Part 1, check it out here
https://read.cash/@Don_Christov/tips-to-spot-a-scam-project-8acf7d87
With the slump in prices in the market recently the faith of those who invested in meme coins and the ton of shit coins that arose when price seemed to be Up Only have definitely been seriously shaken. But I believe that for those invested in solid projects, while they might hurt watching prices drop, they know that invariably it’s coming back up because the projects have solid foundations. There was the awful rise of meme coins after Dogecoin blew up and it was alarming watching a lot of people ape into them. Hopefully this series helps noob to better research coins before they FOMO into them. If you missed the first part, do check it out here;
Today we discuss the second thing to look out for when researching into a project to find out whether it’s a long term bet or not, and that is it’s potential for Mass adoption. The goal for every project is to integrate more users; many projects spend thousands to hundreds of thousands of dollars on their marketing to achieve this. More users mean more demand for their technology and that almost invariable means price increase as they get in front of more eyes and potential investors. So as an investor, you should only be looking those projects that can clearly attain mass adoption. You find this out by checking what industry they are into, who are the players and big boys in that industry, how they plan to better their rivals, and if their technology is one that can be used by a lot of people. It is very important to note that the users might not just be individuals, sometimes users are others businesses or organizations, the technology though must be able to be used by a lot of people.
This is one reason why I am big on Status Messaging. Their technology is most definitely one that will attain Mass Adoption; they are in a gem of the industry they are based. Status is a Private Messaging app that offers the true meaning of privacy while also sticking to the tenet of decentralization. Many are looking for alternative messaging apps after the Data scandal with Facebook and the privacy tussle with WhatsApp. So many other big names in the messaging industry have at one time or the other failed security wise or sold their customers data, it is that gap that Status is coming to fill. They also have a Unique Selling Proposition for everyone which is that you can chat with loved ones while keeping track of your wallet with their inbuilt wallet feature, and even browse through your favorite DApps with their Web3 Browser.
The Private Messaging industry is a very lucrative one, and Status is in a very good position to get a slice of that pie. Like I said look out for a project that can achieve Mass Adoption, and I think it’s pretty clear that there’s no better way to achieve Mass adoption than through messaging as the world continues to go digital and billionaires continue to stay up to date on each other’s personal lives through Messaging. Billions of people on Earth and a teeming number of us have one thing in common, we just keep texting away with not much worry as to what is done with our data and you just can’t go wrong with this project
If there is no hope for Mass Adoption for a project, there is no hope for their token to rise in value and that’s the aim for every investment. You invest for the value to grow, so you make profit on your investment. Always be sure to research heavily into their potential for Mass Adoption, it truly is of utmost importance. Cheers to fruitful and lucrative investments.
