Topic: How do I know the trustworthyness of a new coin? - page 2. (Read 904 times)
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.
You really can't 100% trust anything. That's why it is very risky to participate in a new coin. But there lies the rub, it is the most profitable period to accumulate it if it becomes successful.
The best way is to research on the background of the main developers. Anonymous devs don't cut it anymore too.
The best way is to research on the background of the main developers. Anonymous devs don't cut it anymore too.
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!
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 dont need to trust anyone. You trust the code. If coin is not opensource you ditch it. If is open source then anyone can check what is in it. So everyone can see what it does. And if you believe that is what you and other people needs then you buy some.
You just need to spend time on researching I suggest that you should use CMC to look for the trustworthy coins .
New coins are so hard to trust but for me you should just look at their community if the team keeps the people updated and if they are following their road map,Keeping their coin alive and active.
New coins are so hard to trust but for me you should just look at their community if the team keeps the people updated and if they are following their road map,Keeping their coin alive and active.
The main key is to do your own research. One good thing is to ask in the forum which you already did so you know where to start. Second, get a complete active list of coins and do background check. Check also the trend of that coin. If there is enough information we have gathered, we need to compile it and make our top list of coins.
It seems to me that a few years ago, a hard analysis of any company gave a real result. To date, there are no guarantees that all information about the Project will be promising and reliable, the results of the company will be promising. In most cases, the situation is quite different.
As already other users suggest do your own research, i think a coin need to have some history to know if is good to invest, but this can only apply to old and legit coins, you can check trading volume and demand and supply.
The main key is to do your own research. One good thing is to ask in the forum which you already did so you know where to start. Second, get a complete active list of coins and do background check. Check also the trend of that coin. If there is enough information we have gathered, we need to compile it and make our top list of coins.
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!
First and foremost, a new crypto coin can be considered as a coin with high potential when the coin is actually backed by a working product that has a specific aim in providing solutions to the gaps since in the world and the crypto space. New crypto coins with no specific feasible aims have the tendency of becoming shitcoins. I will encourage that you spend some time researching and reading more about any new crypto coin you come across before taking any action. This will help you know whether the coin has a good potential of becoming a great coin. 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!
Study the market and you can find a good list of trustworthy coins which have huge earnings potential in short and long term both otherwise you can choose from top 20 coins of this market as they have highest trust, trading volume and the market cap.
Yeah, if you are having trouble making a choice, you should try tops. They have earned people's trust for a long while. But if you want to find reliable projects by researching yourself, you should gain experience. So, this is not something you can learn by reading an article. For years, you will get experience by recognizing good bad projects, and you will see when something is wrong.
That is why I still make research on quality projects that would not cost much and still have the tendency of making me so much profit in the future, although the safest investment to be a part of now is Bitcoin which I also believe a time will come that 1 satoshi will cost much too to get.
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You can know the trustworthiness of a coin when you observe the coin performance on the market for a while. A coin that keeps falling on the market is not a good coin to invest in. Those that keep rising are very good coins to invest in.
The price falling of a coin usually reflect that the coin is not keeping up with the promise and also have very poor development progress that making their holders just selling their token because they now that the future is not bright with that. I kinda know what you're meaning in this one.
You can know the trustworthiness of a coin when you observe the coin performance on the market for a while. A coin that keeps falling on the market is not a good coin to invest in. Those that keep rising are very good coins to invest in.
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 start by looking at how the team behind it, whether they are working hard for the coin and how they will be taken and of course you can see their track record. It's a little difficult to know which new coins have the potential and can generate profits later, it takes patience to continue to observe coins that we think have great potential.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!
If I were you I would never trade a new coin. Because you can not know its trustworthyness. It is not so hard to find trustable coin, just check top20 in cmc website.
But, I would say trade a new coin but never have you invested in it for a long term purpose.New coins are even the sweetest and fastest way to make money, every coin that enters an exchange newly seriously has the chances of getting pumped within few weeks, once you can invest in them before the pump, you will be lucky to make huge profit after the pump once you can catch it, though not the safest means but still the surest means of making quick money.
At the same time, when it comes to investing as long term, it is sure not the best way to get engaged in new coins except the project is a very good one that the investor can really vouch for.
Study the market and you can find a good list of trustworthy coins which have huge earnings potential in short and long term both otherwise you can choose from top 20 coins of this market as they have highest trust, trading volume and the market cap.
Yeah, if you are having trouble making a choice, you should try tops. They have earned people's trust for a long while. But if you want to find reliable projects by researching yourself, you should gain experience. So, this is not something you can learn by reading an article. For years, you will get experience by recognizing good bad projects, and you will see when something is wrong.
You have to make research on the team ( their past experience ), analyze the WP, roadmap, the vision behind etc.
Their supportive community is also very important in the success of a project so follow their social media activities
and look for some insights.
It truly comes down to the due diligence that you do. I would reccomend researching as much as you can and talk with the community. Make sure their team is legit and they have the proper funding
It is important to find out if the team has a working product and how it plans to develop the project. and of course, the team plays a very important role
The chances of taking risk will be higher in the new investment especially the new introduced the currency will always had lots of doubt by the investors to get there was one properly if it was very low value also it will affect our investment in the the next few months so we need to be more careful while investing on the new currency but it will always come under your experience to take the right decision now.
It truly comes down to the due diligence that you do. I would reccomend researching as much as you can and talk with the community. Make sure their team is legit and they have the proper funding
No one will know completely if this or that coin is trustworthy or not. But we all can do is our part right and it is with using google or this forum to search about coins we intent to invest in. You can check Upcoming ICOs list on Cryptolinks, I’m using it for almost every day thing. Although they are not direct help but once you visit the site you know what I mean to say. Yes you still wont be knowing for guarantee but it can help.
Thus, only trustworthy projects will list on a good exchange while working on their project to offer what was promised.
I beg to disagree, it is not the trustworthy but rather the one who have the fund to be listed on that exchange. There are several worthy projects that were not listed on good exchange since they lack funding or do not want to spend millions of dollar to be listed on that exchange. On the contrary scam project will do their best to be listed on "good exchanges" (high volume) so that they can dump their token the first time it pumps on that exchange.
To be able to know if the coin is trustworthy, you should check the team member. The era of anon devs is already over especially in the world of ICO since they are asking for a fund. Trustworthy coin is transparent, they present their developers and show their milestone and activities, they are also open for an audit if investors requested to.
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