Topic: What makes you trust a new cryptocurrency? - page 10. (Read 1161 times)
I would say that i trust new cryptocurrency, but not all. Also, before i can trust anything of such, there are some things i usually consider. Some of which are genuine team, unique and outstanding usecase as well as one with good community.
I always analyze the idea of the project and try to guess how much it can be useful and interesting to society. I also draw attention to the team and their activities.
If I look to invest in any project. First and foremost I will be looking to go with the project details with the help of the white paper, LinkedIn profile, social media vibrant and many things to confirm about the legitimacy.
If you understand team really good and project have strength and faith on the concern coin. Damn sure you can make the money on it.
If you understand team really good and project have strength and faith on the concern coin. Damn sure you can make the money on it.
I wonder What makes you trust a new cryptocurrency?
If they have real usage and the fundamentals are present then why not? But for me the current set of trusted coins specially in the top 10 are already enough so I'm not sure if there will be coins born that can get the same support as the current set of coins.
We all also notice that 99% of new coins are just copy cat of previous successful coins. It means that they won't get the consensus of the original. Just like we witnessed in Bitcoin, you coin can take over its place because the concept is original and event hough scalability is a issue people still prefer it on top of thousands of coins out there.
I trust in a currency that gives me security, privacy, that demonstrates innovation, technology; and also that it has a good active community, and that it belongs to the best exchanges.
I just trust crypto currency. Because I think that it is future. As before, many did not believe in the Internet, but now everyone uses it. And I think that the crypto currency will be used as soon as possible for payment, fast transfers and so on. That's why I trust.
I wonder What makes you trust a new cryptocurrency?
At first it's important to see a proof that this new cryptocurrency is working without issues and if there are issues to get them fixed soon. And it's important to have an experienced team to develop the new cryptocurrency and improve it step by step.
I need to know what exactly the cryptocurrency stand to achieve. The problem the cryptocurrency wants to solve and how it intends to solve it. I am also interested in the project team and how serious they are. Some projects failed not because they didn't have a good product but because the team was not serious.
Profit. 99% of coins are garbage and we have no elements to take a correct decision. I just check for profit possibilities.
My technical knowledge of the code is very limited. I am not able to see flaws in a project just by reading the code. As my background is in business, I approach the analysis of the project as if it were a company.
The first thing I notice is who is responsible for each area. For example, what fascinated me about the Cardano project was that it was being handled by people who had already participated in various projects related to Bitcoin.
The second part is to note if there are sources of funding, whether the project is totally unselfish or whether there is a possibility of being just a get rich fast. I did not trust Bitcoin Gold because I understood that it was a project where the founders did not make clear their sources of funding. Pretending that they had not preminerated a great value.
Another important point to note is protocol security. I do not trust a project like Nano because I understand that there is a great possibility of failure and because they have a high spending on marketing.
The first thing I notice is who is responsible for each area. For example, what fascinated me about the Cardano project was that it was being handled by people who had already participated in various projects related to Bitcoin.
The second part is to note if there are sources of funding, whether the project is totally unselfish or whether there is a possibility of being just a get rich fast. I did not trust Bitcoin Gold because I understood that it was a project where the founders did not make clear their sources of funding. Pretending that they had not preminerated a great value.
Another important point to note is protocol security. I do not trust a project like Nano because I understand that there is a great possibility of failure and because they have a high spending on marketing.
It needs to have a good and identifiable team behind it. Not to say that all projects are bad if the team decides to hide behind a monitor, but there is more chance of success if the founder travels to conventions and does meetings with new potential partners.
Yeah, I feel that. If the developer can become so active, it will gain more interest and his product will be made more people curious to see and to use it. However, there are a few project that still can be success even though their team is anonymous or not shown. I think there are some reasons for that. 
Not really fans of crypto, maybe like other trader, when get profit just take profit and change to new coins. And i think that is best thing and fit with my way to trade. At least i not really need to follow how project was.
First, you need to learn the technology that uses crypto currency.
Secondly, it is important to understand who represents this coin. After all, a professional team can always create a truly revolutionary product
Secondly, it is important to understand who represents this coin. After all, a professional team can always create a truly revolutionary product
If he have listed on exchange and have an acceptable price evryone can trust that cryptocurrency
at the moment I am not easy to mark the new crypto, I need to learn it first before I enter the new crypto. like seeing the professionalism of the team and the possibility of their project going.
Ain't this the same as questions for trusting new ICO's which are already asked here for so many times?
Well, they are the ones who are creating new tokens by now. Mostly.
I do not see any projects anymore which relies on staking or mining. I think that kind of idea have been buried because of the ICO that came out.
As to trust issues, checking the team behind it should be the main purpose. See their legitimacy or if they are real people. A video chat would help.
For its market, if it will bloom or not. Check their whitepaper and the roadmap.
Well, they are the ones who are creating new tokens by now. Mostly.
I do not see any projects anymore which relies on staking or mining. I think that kind of idea have been buried because of the ICO that came out.
As to trust issues, checking the team behind it should be the main purpose. See their legitimacy or if they are real people. A video chat would help.
For its market, if it will bloom or not. Check their whitepaper and the roadmap.
Not every new currencies are good to trust! It depends on their project, the team's activity, work plan, and of course product value. Every big and stable coin were a new coin one day! You just need to research and trust! If a project continuously updates their work process, if they follow their roadmap and whitepaper then you are good to believe that new coin!
I agree with you in that not nay new crypto is to be trusted. Like you say there are many factors one weighs before approving an ICO as a good and worth investing project, especially with the scams on the rise.
Not every new currencies are good to trust! It depends on their project, the team's activity, work plan, and of course product value. Every big and stable coin were a new coin one day! You just need to research and trust! If a project continuously updates their work process, if they follow their roadmap and whitepaper then you are good to believe that new coin!
It needs to have a good and identifiable team behind it. Not to say that all projects are bad if the team decides to hide behind a monitor, but there is more chance of success if the founder travels to conventions and does meetings with new potential partners.
I think that you can trust new crypto currency because it is the best currency ever, to my mind, the digital currency has many great advantages in comparison with the standard money
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