Hello read.cashers, today i am writing about the things which should be considered when you are buying new crypto. You have to do a lot of research and compare data before buying any crypto or getting in new crypto projects. This article will help you with buying crypto and involving in new crypto projects.
Thins you need to consider:
Technology
The most important is the project’s proposed technical solution to a real and relevant problem. It makes no difference if it’s something new or a better application of existing tech. When the problem they’re trying to solve doesn’t need solving, there’s a big quick chance the project will fail or is set up to raise a quick buck.
Road-map
Technical development always takes longer than promised, but a road-map gives you an idea if they’re realistic about their goal. If the road-map states that a mainnet will be delivered within a few monts, that would be great, but could also indicate that they’re trying to make a quick buck (unless they started the development way before the ICO/STO/IEO of course).
Token Allocation/Price
How many tokens are they going to bring out? This might give you an idea if they’re upfront about the project of just want to make a lot of money. If their total token supply & price results in a very high marketcap, you should be suspicious about their intentions. Other things to check: Will the tokens be locked up for the team? Will they burn unsold token? Can they create new tokens at will?
Team & Partnerships
The people behind the project should be easy to verify. Check their Likedin, online profiles, company profiles, any addresses you find, advisors, partnerships etc. Don’t be afraid to openly ask them if they’re involved in the project. Don’t forget to do a reverse image search on their pictures as well.
The Rest
Verify any information on the websites & social media, does it look real or are they just empty words, fake testimonials and social media bots? Beware of dubious statements, like stating they’re SEC-compliant or already have secured listing on big exchanges. Watch out for ponzi schemes like like Bitconnect, with promised unrealistic ROI for holding their coins.
Don't forget to up-vote and comment on this article after reading, I will be happy to hear anything from you. Stay safe read.cashers.
Great article thanks for the info!