How do I know the trustworthyness of a new coin?

rijaljun

sr. member

Activity: 1274

Merit: 267

Quote from: HappyCaptain on April 14, 2019, 06:07:53 PM

i am not a trader but i see some strategies of long term traders who make a deep analysis of a projects coin before they make a bulk buying and usually they do it before the coin became popular to many users.

Short-term traders don't use fundamental analysis. They usually just play with the charts to predict which coins will be pumped, even sometimes they will read and follow some coins's news. Also, they don't really care bout fundamental things as shitcoins can be pumped as well sometimes.

So, since the market efficiency is still in a weak form (I believe so), just pick the coins in a big exchanges that have been too long in a dip, wait them to be pumped then make some profit from them.

Kay94

member

Activity: 364

Merit: 10

You need a very thorough study about a particular project since reading or investigating into a coin may not be enough. Its quite difficult to know the trustworthiness of a coin.

fullhdpixel

hero member

Activity: 2828

Merit: 611

Quote from: batang_bitcoin on April 14, 2019, 11:38:40 PM

Check the volume of that coin and you can determine if they are crap or not.

This is a very an effective method that will surely work for an already established project, but for new coins, volumes might not be enough to distinguish good ones from bad ones, especially when the coins are new, that is when they get enough volume from traders that are very smart, they buy these coins very much and wait for it to pump and dump them.

It is during this pump waiting time, that accumulation becomes so high making the volume of the coin go high, and that might be the time an investor who took your advice comes to make investment decision. Volume is good but not to be the only determinant factors, we should only take volume as part of our many parts of decision.

batang_bitcoin

hero member

Activity: 3080

Merit: 603

Check the volume of that coin and you can determine if they are crap or not.

HappyCaptain

full member

Activity: 630

Merit: 100

i am not a trader but i see some strategies of long term traders who make a deep analysis of a projects coin before they make a bulk buying and usually they do it before the coin became popular to many users.

concitta

member

Activity: 308

Merit: 10

Quote from: Kay94 on April 14, 2019, 04:57:49 PM

Its quite difficult to figure out the trustworthiness of a coin since there are many coins in the crypto market now but there are some things you can use to determine the worthiness of a coin such as the team behind the project and its roadmap.

so many new coins that appear and believe in new coins is only a little trust, because most new coins don't have the power to develop.
it's not all bad so if you want to find a good one, you have to find it by researching every coin and knowing about the work team.
New coins have the opportunity in the future to grow but require a long enough process to make it happen.

Zythiphill

jr. member

Activity: 308

Merit: 1

Free Crypto in Stake.com Telegram t.me/StakeCasino

Quote from: r_delossa on April 11, 2019, 06:49:07 AM

The only thing you can do about it is to invest more time in doing a deep investigation of each coin. You need to have enough knowledge about a coin, team members, announcements, product and so on before investing your money into it.

Yes, the study now can not help much to determine a good project or not , only of course if the coin is not in the top of the crypto currency then Yes , and so all the other coins above the top 100 it is difficult to guess what will come out of them

Isiaka208

copper member

Activity: 411

Merit: 1

You need plenty of research to know the information you seek as most people here may give you the wrong information to what you seek.

Kay94

member

Activity: 364

Merit: 10

Its quite difficult to figure out the trustworthiness of a coin since there are many coins in the crypto market now but there are some things you can use to determine the worthiness of a coin such as the team behind the project and its roadmap.

logicgate

sr. member

Activity: 994

Merit: 252

Quote from: NynaHoney on April 11, 2019, 07:01:02 AM

Quote from: batdog890 on January 11, 2019, 02:10:15 AM

Hi people,
I am relatively new in this field. Having done some "trading" of alt coins in 2018, I would like to seek the opinion of more experienced traders and hopefully gain an insight as to how can I better differentiate coins with higher potential and coins which are basically crap.

Thanks in advance!

maybe it is really difficult for now because, seeing the condition of the coin in the market is still messy, making a lot of people confused between choosing which one will go up and which is just bullshit so in the current situation we should be able to see it more carefully if the coins are eth, btc , neo.

Right in market there are so many coins and it is hard to know which one is good and which one is not good, but I think new investors are confused but older know that no other than bitcoin is the best, which has so many years experiencing rise and fall but it stayed the same, so in this era of technologies I think bitcoin is the best coin to invest which has high demand and it will rise so high.

NynaHoney

member

Activity: 378

Merit: 10

Quote from: batdog890 on January 11, 2019, 02:10:15 AM

Hi people,
I am relatively new in this field. Having done some "trading" of alt coins in 2018, I would like to seek the opinion of more experienced traders and hopefully gain an insight as to how can I better differentiate coins with higher potential and coins which are basically crap.

Thanks in advance!

maybe it is really difficult for now because, seeing the condition of the coin in the market is still messy, making a lot of people confused between choosing which one will go up and which is just bullshit so in the current situation we should be able to see it more carefully if the coins are eth, btc , neo.

r_delossa

member

Activity: 490

Merit: 10

The only thing you can do about it is to invest more time in doing a deep investigation of each coin. You need to have enough knowledge about a coin, team members, announcements, product and so on before investing your money into it.

ceetoo224

copper member

Activity: 112

Merit: 0

Quote from: batdog890 on January 11, 2019, 02:10:15 AM

Hi people,
I am relatively new in this field. Having done some "trading" of alt coins in 2018, I would like to seek the opinion of more experienced traders and hopefully gain an insight as to how can I better differentiate coins with higher potential and coins which are basically crap.

Thanks in advance!

You can't. Basically figuring out the trustworthiness of a coin should going to be start on, figuring out the best that the project can bring to the market. How well that market is implemented, and how strong is the team supporting the project. In that case, the strength of the marketing will determine the strength of the coin in the future.

conected

hero member

Activity: 1302

Merit: 503

Quote from: DAVETUN on April 10, 2019, 03:50:28 PM

The team involve in the project, checkout on there past record and the experience they have, the white paper must state detail about the problem they are out to solve and how realistic it is to the real world,all this can build trust on new coin.

- I don't think the information you ask people to check is useful for determining the credibility of a new coin in the present time because this information can always be counterfeited in great detail, although we may be experienced in analysis but the project can still trick us. And so, instead of looking for opportunities and successes in the new coin, maybe we should still focus on the old products, the development of these products is more stable, and reliability can be said that it has been identified many times in the past until now, the profit may not be too high in the old coin but very safe

maxreish

sr. member

Activity: 1330

Merit: 326

Altcoins that are usually vague and funded left by investors cannot be trusted at all. Trust only an altcoin who are already established, who offers solution to the problem. Also, do not eventually easily trust with those top 20 altcoins, mostly they are just being on top by fake volumes.

CaVO32

full member

Activity: 1848

Merit: 158

Quote from: Evrolina on April 10, 2019, 03:25:07 PM

One of the best way to know a good coin is to look out if the project has working product,make research on their target area and see if the project can actually deliver to the target area,also see if the project has got reasonable number of community behind it.

this is one of the factors that i usually look for in every project. but even if they have working app or product already, check for the number of users and their feedback. usually you can easily see their feedback if it's an app. also, check the legitimacy of the project, if they have license to operate and where. most of them are using estonia or other countries with loose regulations in terms of crypto, you need to be careful with them. it means, they can easily get away from their responsibilities in case something goes wrong. read their terms and conditions also.

DAVETUN

full member

Activity: 728

Merit: 101

Bitcoin is the currency of this age

The team involve in the project, checkout on there past record and the experience they have, the white paper must state detail about the problem they are out to solve and how realistic it is to the real world,all this can build trust on new coin.

Evrolina

jr. member

Activity: 66

Merit: 1

One of the best way to know a good coin is to look out if the project has working product,make research on their target area and see if the project can actually deliver to the target area,also see if the project has got reasonable number of community behind it.

Script

full member

Activity: 263

Merit: 100

First of all, it is necessary to check all team members for credibility and their positive experience, as well as the possibility and efficiency of interaction with them. Product availability must also be trustworthy.

natka

full member

Activity: 504

Merit: 100

Quote from: 94K on April 08, 2019, 03:33:05 PM

Its quite difficult to trust new coins recently however you can identify new coins using certain features like the team and its roadmap. You also have to do a background check on the coin you intend to invest.

It seems to me that it is very difficult to study each member of the company's team, since we cannot find reliable information about all the participants in a particular project. Who can not every company has a reputable people in its composition. But first of all you need to pay attention to the idea of the project itself, which should be very promising and in demand in the future in society.

Topic: How do I know the trustworthyness of a new coin? (Read 937 times)