How do I know the trustworthyness of a new coin? - page 4.

amos77978

copper member

Activity: 351

Merit: 1

Quote from: batdog890 on January 11, 2019, 03:10:15 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!

I will advice you to critically study coin market cap first before you invest your hard earn money so as to avoid loss of fund

TastyChillySauce00

legendary

Activity: 3010

Merit: 1028

Leading Crypto Sports Betting & Casino Platform

Quote from: axel2078 on March 29, 2019, 06:45:17 PM

As a new coin coming to the crypto space, many factors always comes to play, such as exchange listing etc. Thus, only trustworthy projects will list on a good exchange while working on their project to offer what was promised. Also, the activeness of the team in this stage matters as it will show how effective and capable they are in staying true to their roadmap.

You will also need to take into account how far their progression could go within few months and also whether they are following their roadmap or not. Fishy developers will always trying to have the chance to now follow the roadmap because they have another hidden plan
but a project that always following the roadmap is a project that atleast keeping its promise.

axel2078

full member

Activity: 532

Merit: 100

As a new coin coming to the crypto space, many factors always comes to play, such as exchange listing etc. Thus, only trustworthy projects will list on a good exchange while working on their project to offer what was promised. Also, the activeness of the team in this stage matters as it will show how effective and capable they are in staying true to their roadmap.

Golstrim

sr. member

Activity: 1456

Merit: 253

Margin Trader

This is about your ability to make research. Look, you have to get info about each coin you're going to invest and don't be fudder, don't be that person making irrational decisions.
Always DYOR!

Wittny

jr. member

Activity: 184

Merit: 1

No other way to detect a good project than to research on it, by reading their Whitepaper, going through their website and other social media's page. By also checking the records of their team and how competent they are, to me this are the little things you need to do to discover a good project.

Brainnin

jr. member

Activity: 170

Merit: 1

Make sure you understand trading very well, after make research about the coin before investing in it, there must a solid reason you assume the project we later pumps in some months or years. Once you discover a particular project lacks good team of vision, don't invest in it.

alberdina

member

Activity: 644

Merit: 10

Try to take the time to do research. And to get a good project, you must be diligent in reading the information in this forum. I personally usually look for paid managers who have experience.

carlfebz2

hero member

Activity: 2926

Merit: 722

DGbet.fun - Crypto Sportsbook

Quote from: batdog890 on January 11, 2019, 03:10:15 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!

When you are trading then always look out for the top coins which these coins already prove out that they are trustable enough and it can really be seen on the rankings on which coin is being mostly traded.
The fact that they have higher volume which means they are more volatile which is the best place for a trader to utilize buy and sell and possibly get out some profits and about trustworthiness we cant really conclude
on altcoins to be trustable forever but as long they are on the top spot then they are still capable.

Dreamchaser21

full member

Activity: 686

Merit: 108

Quote from: MUG1WARA on March 29, 2019, 05:01:28 PM

it's very difficult to determine mate, because now many of them only have nonsense ... and for that reason, we just choose coins that are in coinmarketcap and have a pretty good volume, do a lot of research so you will find coins that are worth investing

New coin usually not listed on the coinmarketcap, especially if its still on the ICO so its hard to trust new coins nowadays. There are ways to know if the project is scam or not, you just need to study everything and also ask the developer everything you want to know.

mrdeposit

hero member

Activity: 1358

Merit: 509

Quote from: MUG1WARA on March 29, 2019, 05:01:28 PM

it's very difficult to determine mate, because now many of them only have nonsense ... and for that reason, we just choose coins that are in coinmarketcap and have a pretty good volume, do a lot of research so you will find coins that are worth investing

Why do not you take a look at the top ones? Because most of those who have gained trust for years are in the first place, and afterwards being scam will be a great shock for the crypto world.

cytpoway121

member

Activity: 1540

Merit: 68

The trustworthiness of a coin varies indifferently candidly and it doesn’t matter how legit or how perfect the product is

So just dyor and follow definite updates; also remember that no matter the uniqueness of the product, always cash out when in profit

Petchant

jr. member

Activity: 172

Merit: 1

I think the simple reason for you to know this is to go through the whitepaper and do further background checks on the team of the project and after this, check their Telegram group and read about the reaction of the community of the project

MUG1WARA

full member

Activity: 1008

Merit: 101

it's very difficult to determine mate, because now many of them only have nonsense ... and for that reason, we just choose coins that are in coinmarketcap and have a pretty good volume, do a lot of research so you will find coins that are worth investing

Boombull

jr. member

Activity: 192

Merit: 1

You need to start by doing background checks about the team of the project, what they have done before, the name they have built and also their commitment towards the project. Also take your time to read their business plan and see if truly there is a need for it.

aemma

copper member

Activity: 966

Merit: 14

In my own opinion, the trustworthiness of a new comes in this form; when after listing or prior to listing, the team is already working on the product they are aiming to introduce or enhance. It is this product or services will make the team commited while the coin keeps appreciating in value which might not be instantly but will happen.

CoinCollect

sr. member

Activity: 770

Merit: 250

I would suggest that strategy. You could split your money in half. In 50 % you can buy bitcoin, and the remaining 50 % buy a few coins from the top 10. Buying some lesser known coins can be dangerous for you.

StarofBTC

hero member

Activity: 1148

Merit: 528

Quote from: Kezacky on March 04, 2019, 11:37:51 PM

Quote from: daarul50 on March 04, 2019, 02:06:18 PM

The right way to look for potential new coins is to look at the volume of the coin because the volume indicates that a coin is in demand by investors and traders.

yes, I think that could be a basic reason to see how coins still have further price developments because the volume of prices continues to increase, I also believe that if coins are in great demand by traders or investors and the opportunity to ride is still there.

Logically, do you really think looking at the coin volume is really a major determinant ? Let’s assume about 1000 investors comes on their platform today to check them out and all decided to invest basing it on volume, has the present volume not increased by 1000 ?

If same thing happen next day too, will the volume not keep increasing, in fact, this is one of the reason why people fall has victim of scams because they go into project because everyone is into it without checking the credibility of the project.

Whosdaddy

hero member

Activity: 1148

Merit: 527

Quote from: batdog890 on January 11, 2019, 03:10:15 AM

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.

It is no longer enough to rely on the project whitepaper to determine if one should invest in the project or not though it will still help at least by 50% . First step is to fully know the people behind the project, most of them have their own personal businesses they have been running, look into their businesses and see how they are fairing, any right ICO will give you clue to this.

Also, look at the project they are offering, do you think yourself as a business minded person that it address the need of the society around and also entice them and finally, also look at other function the coin might be used for. Main advice from me, start looking for STO project because in few years’ time, this will take away ICOs.

babicena14

full member

Activity: 780

Merit: 101

I think that you should focus on the capitalization of coins, for this you can use the website coinmarketcap or coingecko. In addition, you need to carefully follow the news to be aware of new promising projects that appear on the market.

10c

full member

Activity: 658

Merit: 100

BuyAnyLight - Blockchain LED Marketplace

Quote from: libert19 on March 05, 2019, 12:18:29 AM

Check their team profiles, how they behave/communicate in their channels and trust your gut, if it feels wrong, then avoid it.

Do you know how to check the command? I have already come across projects in which a very open and honest team was from the start, and then they just leave with money.

Topic: How do I know the trustworthyness of a new coin? - page 4. (Read 904 times)