Need a good idea -
Building a token or coin for the sake is dommed to fail. The token and the coin should have the purpose, should value the future world.
Building People's Trust -
Should build a proper community for the token / cryptocurrency. but it's not a easy job to maintain
Coding & Crypto Security Knowledge-
Should have a proper knowledge about the token .
Topic: What Is Most Important To Creating A Successful Cryptocurrency (Read 314 times)
The most important thing for creating a successful cryptocurrency is good advertising and a strong large community. I don't take the development team into account, as this is implied initially
True, because there have been many failed projects in the past with a very reliable development team, but without a strong community and good advertising, success will be very difficult for each project to achieve. 
1. I'm now having that thought that after this market cycle, there will be now a bunch of projects that are likely made to scam investors again.
2. Exactly, they don't highlight that people should invest on bitcoin because they have their own token that should be the choice.
1) Right from last year November, if you follow closely the activities in the altcoin market you'll know that there's already bunch of new projects that will likely scam investors and the logical is to use the NFT or DeFi concept and also launch IDO through BSCpad which I believe is also another form of ICO though it was overseen by Binance.2. Exactly, they don't highlight that people should invest on bitcoin because they have their own token that should be the choice.
2) They will highlight people to invest in Bitcoin because their aim will not be achieved.
2. I hope so that most of them are doing it.
2) I actually won't not will.
A successful project is one with a good strategic vision, predictable market trends with a strong, serious development team and is supported by major investment funds, KOLs, community.
If we look closely we can see MATIC, OMG has developed a second layer on the Ethereum network. These two projects are increasing in value continuously recently, especially MATIC.
We also see a series of projects that catch the good trend of DEFI, NFT such as THORCHAIN, FLOW, ENJ, CHZ ... have increased rapidly this year.
In addition to the trend factor, we also see MEME projects such as DOGE, SHIBA ... animal crypto is increasing in value rapidly because of Elon Musk's tweets.
It can be said that the community plays a big role in increasing the value of projects.
If we look closely we can see MATIC, OMG has developed a second layer on the Ethereum network. These two projects are increasing in value continuously recently, especially MATIC.
We also see a series of projects that catch the good trend of DEFI, NFT such as THORCHAIN, FLOW, ENJ, CHZ ... have increased rapidly this year.
In addition to the trend factor, we also see MEME projects such as DOGE, SHIBA ... animal crypto is increasing in value rapidly because of Elon Musk's tweets.
It can be said that the community plays a big role in increasing the value of projects.
The most important thing for creating a successful cryptocurrency is good advertising and a strong large community. I don't take the development team into account, as this is implied initially
Advertising and community will have needed to create a hype. Even there are bunch of shitcoins that can do that without any product to be pumped so hard.
The project just only need to get the hype. that's more than enough to make it becomes successful. These days people use price as the factor to determine how success the project is.
The most important thing for creating a successful cryptocurrency is good advertising and a strong large community. I don't take the development team into account, as this is implied initially
Personally, I think that the success of the advertising program accounts for 50% of the success of a certain coin, there are many bad projects that sell a lot, but there are also good projects that do not succeed in making money capital attraction.
1. I'm now having that thought that after this market cycle, there will be now a bunch of projects that are likely made to scam investors again.
2. Exactly, they don't highlight that people should invest on bitcoin because they have their own token that should be the choice.
1) Right from last year November, if you follow closely the activities in the altcoin market you'll know that there's already bunch of new projects that will likely scam investors and the logical is to use the NFT or DeFi concept and also launch IDO through BSCpad which I believe is also another form of ICO though it was overseen by Binance.2. Exactly, they don't highlight that people should invest on bitcoin because they have their own token that should be the choice.
2) They will highlight people to invest in Bitcoin because their aim will not be achieved.
2. I hope so that most of them are doing it.
Based on the cryptocurrency projects that have seen good and sustainable success over the past few years, the recipes for success isn't just about having a good concept or a good team. To be successful in the blockchain cryptocurrency space you have to create a project that actually satisfies a pressing need either on-chain or in the real life.
That's right and the best possible example is tether (USDT) because there was always a concern of how to manage a portfolio within cryptocurrency but don't face any loss or profits overnight. Like when the Bitcoin price is dropping there was utter chaos since people had to sell it for fiat as the whole market was crashing. With the introduction of USDT, this proble is completely solved and we can always preserve the value of our coins in USDT after all the trading throughout the day and have the peace of mind that tomorrow morning when we wake up, we won't lose any value.As things improved further we are looking towards decentralized stable coins because the centralized stable coins can shut down anytime abruptly since they can dump the whole market. But with decentralized stable coins, the problem of maintaining liquid price occurs.
So basically with each project there is a problem that exists and the next project solves it, this is the current chain of events and I don't think we will have a perfect coin/project anytime soon.
These are needed but not limited to. It means just because of having all these will not guarantee big success for a coin. Have seen many good concept based coins got failed due to lack of supporters. It means devs must work on convincing new investors all the times. If a project fails to attract new investors then it may get heavily dumped and the slowly will get delisted from exchanges.
When a project remain attractive for new investors and for existing investors to keep holding their coins/tokens?
It will remain attractive when new features being added and roadmaps is getting updated regularly and when devs interact with crypto community in social media etc.
Overall, active dev team is the most important requirement for success of a coin.
It is not easy to convince people to join and stay there, I have been part of few projects and I can tell you that people come in, increase the price, sell at the top and then drop the price so much that in the end you have nothing else, you end up basically a coin that dropped over 80% with nowhere to go because it used all the marketing budget.When a project remain attractive for new investors and for existing investors to keep holding their coins/tokens?
It will remain attractive when new features being added and roadmaps is getting updated regularly and when devs interact with crypto community in social media etc.
Overall, active dev team is the most important requirement for success of a coin.
Unfortunately in crypto world unless you go over this huge hump and become wildly known and loved or you have insane amount of money for creating one, you are going to be just a project that people look to make a quick buck and nothing more, that is the only thing and there is not much more to it at all. You can't stop people from buying, and you can't stop them from selling if people want to make a profit they will do it and they may not care at all what you want to achieve with the project as long as they can make a quick profit.
There are many factors that affect the success of a project, that is, the development team, the quality of the product, the success of the advertising program, ...etc.
Perhaps a successful project needs to do all of those things well.
Perhaps a successful project needs to do all of those things well.
it is true that to make a successful project requires trusted people and a good concept in it so that many investors will be attracted to participate in it. if the project is good then the coins/tokens issued will also have good prospects. some coins were already launched at a good value, but there were also many coins that had to be stored first and even took a long time to reach the highest price.
Having a good team is important because otherwise no matter how great the project is, there won't be enough eyeballs on your project until someone advertises it. Apart from the team, the most important thing for any upcoming project is what problem it solves and whether the problem actually exists in first place.Once those two things are sorted, then there are things like how much the supply is going to be and how much pre-mine, sales and what percentage of coins are being given in bounties. I know it might sound childish but spending too many tokens for the bounty brings the value of the coin down in its early days of exchange listing and takes a long time to recover, which no investor wants to happen.
Based on the cryptocurrency projects that have seen good and sustainable success over the past few years, the recipes for success isn't just about having a good concept or a good team. To be successful in the blockchain cryptocurrency space you have to create a project that actually satisfies a pressing need either on-chain or in the real life.
A project is likely to be more successful If it solves a pressing on-chain problem.
This is even better because blockchain technology still has some way to go before it fully impacts the everyday lives or people like the internet does today, so there is still a need for projects that makes these blockchain integrations faster.
Such projects will always be a key part for the blockchain infrastructure in the long run and is almost guaranteed to be successful.
The cryptocurrency space needs projects that think outside the box and not just different versions of existing projects
This combined with other important components like; A good team, important/strategic partnerships, good marketing and actually delivering on the project's promises is almost guaranteed to make such projects a big success
A project is likely to be more successful If it solves a pressing on-chain problem.
This is even better because blockchain technology still has some way to go before it fully impacts the everyday lives or people like the internet does today, so there is still a need for projects that makes these blockchain integrations faster.
Such projects will always be a key part for the blockchain infrastructure in the long run and is almost guaranteed to be successful.
The cryptocurrency space needs projects that think outside the box and not just different versions of existing projects
This combined with other important components like; A good team, important/strategic partnerships, good marketing and actually delivering on the project's promises is almost guaranteed to make such projects a big success
Don't forget a good financial backer. Without good funding, you cannot continue your activities. The project team also needs a good financial adviser, the one that can analyze and design a good strategy with minimum spending. Financing is the fuel to any developing project, so having good funding plus a good financial strategist will greatly help the project to sustain and maintain its effectiveness for a longer time.
it's important to have this kind of people behind the project, they are the one who will budget the development
and they will manage the finances, good handler of finances really help the developing team organized each part
of the developments, from advertising to developing there's always money involve so you are right that this part
of the team is also important to succeed.
Based on the cryptocurrency projects that have seen good and sustainable success over the past few years, the recipes for success isn't just about having a good concept or a good team. To be successful in the blockchain cryptocurrency space you have to create a project that actually satisfies a pressing need either on-chain or in the real life.
We have seen thousands of projects and different currencies in the short period of the market existence and majority of the projects were created to make quick money for the developers and since it was a new market there were no auditing regarding the authenticity of these projects and everyone was willing to invest money even if it was a replica project.We have a wide range of coins but only a few are authentic projects that were able to change the market space and those coins are hugely successful.
The cryptocurrency space needs projects that think outside the box and not just different versions of existing projects
It is an open market and the idea behind this is simple, make money while you can and there are even projects just copy the entire code and replace it with a different name and still some are highly successful and made millions or billions.
Based on the cryptocurrency projects that have seen good and sustainable success over the past few years, the recipes for success isn't just about having a good concept or a good team. To be successful in the blockchain cryptocurrency space you have to create a project that actually satisfies a pressing need either on-chain or in the real life.
A project is likely to be more successful If it solves a pressing on-chain problem.
This is even better because blockchain technology still has some way to go before it fully impacts the everyday lives or people like the internet does today, so there is still a need for projects that makes these blockchain integrations faster.
Such projects will always be a key part for the blockchain infrastructure in the long run and is almost guaranteed to be successful.
The cryptocurrency space needs projects that think outside the box and not just different versions of existing projects
This combined with other important components like; A good team, important/strategic partnerships, good marketing and actually delivering on the project's promises is almost guaranteed to make such projects a big success
A project is likely to be more successful If it solves a pressing on-chain problem.
This is even better because blockchain technology still has some way to go before it fully impacts the everyday lives or people like the internet does today, so there is still a need for projects that makes these blockchain integrations faster.
Such projects will always be a key part for the blockchain infrastructure in the long run and is almost guaranteed to be successful.
The cryptocurrency space needs projects that think outside the box and not just different versions of existing projects
This combined with other important components like; A good team, important/strategic partnerships, good marketing and actually delivering on the project's promises is almost guaranteed to make such projects a big success
Don't forget a good financial backer. Without good funding, you cannot continue your activities. The project team also needs a good financial adviser, the one that can analyze and design a good strategy with minimum spending. Financing is the fuel to any developing project, so having good funding plus a good financial strategist will greatly help the project to sustain and maintain its effectiveness for a longer time.
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You've already said it all mate, a good project is one that solves one or two problem in either real life or on chain, but then if this is really what it takes to have a great and successful project, why then we have so many good projects that are struggling to survive or even get known? Take a project like dogecoin as an example, why does a project like dogecoin which we all know has close to nothing to offer, doesn't solve any problem both on chain and real life, how did it manage to become the top 4 largest crypto coin in the entire crypto space??, this is sometime you should think about and agree that there is definitely some thing more to a project being super successful than just solving a real life or on chain problems, having a good team and marketing and the rest.... Having the money is also very very important.
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It's quite common of just simply carbon copy of projects actually. I don't usually tread around the newer projects these days because I ain't that much interested to it, but see to it on how many common businesses come up these days for the purpose of milking out the money of the previous project that succeed.Investors don't care how the business is structured, but on how it can benefit them in the end.
Not to say that theyre completely trash but most of them are so that would really be just a waste of money and i agree into others been saying
that we arent needing more coins in the market if we do consider on how many we do have currently then those are mostly carbon copy into each other.
What we need to look or see on is to those something unique but i guess we've already seen enough.
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It's quite common of just simply carbon copy of projects actually. I don't usually tread around the newer projects these days because I ain't that much interested to it, but see to it on how many common businesses come up these days for the purpose of milking out the money of the previous project that succeed.Investors don't care how the business is structured, but on how it can benefit them in the end.
A good team, important/strategic partnerships, good marketing and actually delivering on the project's promises is almost guaranteed to make such projects a big success
These are needed but not limited to. It means just because of having all these will not guarantee big success for a coin. Have seen many good concept based coins got failed due to lack of supporters. It means devs must work on convincing new investors all the times. If a project fails to attract new investors then it may get heavily dumped and the slowly will get delisted from exchanges.When a project remain attractive for new investors and for existing investors to keep holding their coins/tokens?
It will remain attractive when new features being added and roadmaps is getting updated regularly and when devs interact with crypto community in social media etc.
Overall, active dev team is the most important requirement for success of a coin.
it is true that to make a successful project requires trusted people and a good concept in it so that many investors will be attracted to participate in it. if the project is good then the coins/tokens issued will also have good prospects. some coins were already launched at a good value, but there were also many coins that had to be stored first and even took a long time to reach the highest price.
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