Topic: What makes a crypto project reliable and trustworthy ? - page 10. (Read 1353 times)
When it's comes to cryptocurrency assets, I personally won't subscribe to the fact that any of them is trustworthy. The rate of volatility and unpredictability of the market and the assets is enough to believe that there's no trust in the cryptocurrency space. I'll prefer to subscribe to the fact that the industry as well as the crypto assets are innovative and evolving.
When the altcoin gives you security.
First and foremost, it's always the price that will provide you with security but most of all if you bought thousands of this altcoin at such a very minimum price for less than $10 and then the current price is more than $1000. ETH and BNB are examples of these. It will give you the security that you keep earning when you are staking a lot of it.
First and foremost, it's always the price that will provide you with security but most of all if you bought thousands of this altcoin at such a very minimum price for less than $10 and then the current price is more than $1000. ETH and BNB are examples of these. It will give you the security that you keep earning when you are staking a lot of it.
I am trying my best to analyze altcoin projects but the results are not pleasant. What makes an altcoin really trustworthy ? And why ?
In my opinion, after hundreds of thousands of altcoin projects had failed and wiped out naive investors' money, there will be no point of trying out new projects. This leads me to keep investing only within known and long running projects. So, if you look for a reliable and trustworthy projects then follow any old coin and if that keeps pumping at regular interval then that can be added into your portfolio. This is just another trick and cannot be a 100% guaranteed one.The most simple thing to know if the project are reliable and trustworthy is depends on the protocol, it must be decentralized and able to trade without centralized exchange.
But, I have seen many project with zero pre-mine and following all other decentralized rules got failed as well. In my understanding, being decentralized got nothing to do with your investment.
Almost every project in the crypto space can pull a scam on you. You just have to get a fair share of the pie and get as much profit as you can from them then you can bail out. There's really no telling whether a project is trustworthy or not. You'll never know if they have reached their goal and can begin scamming people just because. The key is, don't ever stay in one project for a long time. Diversify, get profits, bail out.
most of those who claim new projects are not currently new projects. they just come by expanding on existing ones. even just copying and changing the name, conceptually and in the application, everything can be the same. and they will inevitably give birth to more shitcoins that won't last long once they are traded in the market.
the only reason to look for a good altcoin project is to see who developed the project. when he is a seasoned person, in the sense that he is not new to the crypto world. maybe we can consider it. although there are still many aspects to consider.
the only reason to look for a good altcoin project is to see who developed the project. when he is a seasoned person, in the sense that he is not new to the crypto world. maybe we can consider it. although there are still many aspects to consider.
Bitcoin is the King of cryptocurrency and most altcoins are way less qualified in terms of credibility, fanbase, high returns with minimal risks etc. I am trying my best to analyze altcoin projects but the results are not pleasant. What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.
Altcoins and their future are still a wild guess. STOs or regulated and audited projects were thought to be less risky but these low risk low profit projects too failed miserably. Something as stupid as Shiba Inu that airdropped more than 50% of it's the than supply to vitalik buterin (single person unrelated to the project) got unprecedented success, survived through multiple pumps and dumps and still going strong as a popular altcoin makes me believe there are almost zero logic on altcoins future prediction. The only thing that depends on the long run is how active the project manager or volunteers are on the development and progress.
Bitcoin is the King of cryptocurrency and most altcoins are way less qualified in terms of credibility, fanbase, high returns with minimal risks etc. I am trying my best to analyze altcoin projects but the results are not pleasant. What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.
You can't fully trust any project even Bitcoin because this market is very volatile and anything can happen.Don't look on where you can trust for long term, try to look for the opportunity on making money and you'll see a lot with the altcoins market. This market offers a lot of opportunities, don't settle with your emotion and just follow the trend, making profit should be your top priority, don't get too attached with any project for your own safety.
You just don't have to spend time analyzing coins other than Bitcoin. All of them, sooner or later, almost always turn into dust. Are there any new and unique projects? This is a rewriting in your own words of other people's ideas, which also does not succeed. Read their roadmap, learn about their developers' experiences, and everything The Ultra Elite has already said will be your experience. I agree that some people benefit from alternative coins that can provide them with an increase. But this requires understanding, and a lot of people most often lose by not taking anything from their experience. As a result, the value of your time is only as great as your desire to spend it.
And what then to spend time in the study of cryptocurrencies? Buy bitcoin for $20,000 and forget about it for a few years until its price rises.Soon there will be regulation from the SEC, and most of the cryptocurrency projects will be closed, but some projects, like Ethereum, Polkadot, Atom, should work on the market, because many financial companies will work in these ecosystems, which will tokenize their assets.
Look which problem is going to solove by the project.
For example take a look at Bitcoin. Why people still say BTC is king? Because it's soloved main problem that were in our society long. That is freedom for your money. Like that first you need to find out what problem that is going to solove by the project first. If it's good, if it's long lasting, If it's can gamechanger then you are good to go.
For example take a look at Bitcoin. Why people still say BTC is king? Because it's soloved main problem that were in our society long. That is freedom for your money. Like that first you need to find out what problem that is going to solove by the project first. If it's good, if it's long lasting, If it's can gamechanger then you are good to go.
First things.
What factor you taken for the research? IMO, each of the product/alt-coin have their own fundamental. Comparing to "Bitcoin" is really a big gap for them, why? because "Bitcoin" the first digital asset who have a big trust from the community.
And it's started not easy as looks like, need take us so many tragedy and problem to archive this day.
What factor you taken for the research? IMO, each of the product/alt-coin have their own fundamental. Comparing to "Bitcoin" is really a big gap for them, why? because "Bitcoin" the first digital asset who have a big trust from the community.
And it's started not easy as looks like, need take us so many tragedy and problem to archive this day.
You just don't have to spend time analyzing coins other than Bitcoin. All of them, sooner or later, almost always turn into dust. Are there any new and unique projects? This is a rewriting in your own words of other people's ideas, which also does not succeed. Read their roadmap, learn about their developers' experiences, and everything The Ultra Elite has already said will be your experience. I agree that some people benefit from alternative coins that can provide them with an increase. But this requires understanding, and a lot of people most often lose by not taking anything from their experience. As a result, the value of your time is only as great as your desire to spend it.
The most simple thing to know if the project are reliable and trustworthy is depends on the protocol, it must be decentralized and able to trade without centralized exchange.
Decentralized make your coin can't get frozen, controlled and manipulated since you don't have to trust anyone including the CEO. It will be different if the coin is centralized, you must trust the CEO and hope he wouldn't rug pull his own project.
Government always tightening their rules and it's need KYC to trade in centralized exchange, the worst thing is the exchange can freeze your account and confiscate your funds. If you trade on decentralized exchange or non custodial P2P platform, your coin will be 100% safe.
But you need to know 99% coins are centralized, only 1% or less are 100% decentralized.
Decentralized make your coin can't get frozen, controlled and manipulated since you don't have to trust anyone including the CEO. It will be different if the coin is centralized, you must trust the CEO and hope he wouldn't rug pull his own project.
Government always tightening their rules and it's need KYC to trade in centralized exchange, the worst thing is the exchange can freeze your account and confiscate your funds. If you trade on decentralized exchange or non custodial P2P platform, your coin will be 100% safe.
But you need to know 99% coins are centralized, only 1% or less are 100% decentralized.
No asset is trustworthy, in short.
Depends on upon what your objective is, whether to make profits in short term or in long term or just to support the project without looking at gains.
To check a project's trust worth, verify its team members and their background. Check the project's vision and evaluate whether it is feasible in real life and whether it has a market of it's own. Then see whether the concept actually solves the problem and also if its the first of its kind.
Still then you will see that good projects fail easily in the next one year and you cannot do anything about it. Altcoins are like that only.
Depends on upon what your objective is, whether to make profits in short term or in long term or just to support the project without looking at gains.
To check a project's trust worth, verify its team members and their background. Check the project's vision and evaluate whether it is feasible in real life and whether it has a market of it's own. Then see whether the concept actually solves the problem and also if its the first of its kind.
Still then you will see that good projects fail easily in the next one year and you cannot do anything about it. Altcoins are like that only.
Bitcoin is the King of cryptocurrency and most altcoins are way less qualified in terms of credibility, fanbase, high returns with minimal risks etc. I am trying my best to analyze altcoin projects but the results are not pleasant. What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.
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