What resources do you use before investing your money in new projects?

milewilda

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Quote from: ZaraCB on November 18, 2021, 09:54:26 PM

Investing in a new crypto project is very risky. I have not invested in any such project so far. However, research should be done before investing in a new crypto project. Such as project team members, whitepaper, website, social media, roadmap etc.

True and you wouldnt really just believe on what they had posted on social media platforms or any media yet everything could really be checked out on their whitepaper or roadmap which they had able to provide and the rest are just various informations which arent really that necessary which it doesnt matter on what resources or something like that as long you do check out the most important factor
then you do know on what you are doing. What matter most is that you do all lots of research before making such action basing on your own analysis.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: dark1234 on November 17, 2021, 05:05:03 AM

Joining a new project is very risky but promises multiple benefits if successful according to the roodmap. and of course we will look for reliable sources so that we can be sure the project is real. The basic thing is to look for news on one of the most trusted websites or in one of the markets and other media

Roadmap can be made by anybody who has looked through a hundred previous roadmaps. Besides majority of projects end up delaying the dates on roadmaps. The only roadmap I trust is the ones I see on the highway. Grin

Reliable sources is not a clear term. Depend on whom you consider as reliable. The most reliable is your own research. Paying someone to do it for you can also work if they are not having any personal interest, putting aside the possible financial bias that projects often tend to provide towards asset managers and advisors. Again fake advisors and self-claimed "gurus" are rampant on the internet.

The basic point still remains same, if you find out the project to be solving a specific problem that really exists then that project has a chance to grow and develop into something big. But this is rare in the ICO sector now, majority of the project copy what others have done or just hype a vaporware.

ZaraCB

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Investing in a new crypto project is very risky. I have not invested in any such project so far. However, research should be done before investing in a new crypto project. Such as project team members, whitepaper, website, social media, roadmap etc.

Sayeds56

copper member

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Quote from: btcrevolution on November 16, 2021, 01:35:02 AM

I mean sites, Twitter accounts, Telegram channels etc.

The information provided on Media channel is not so reliable so better to make your own research. I think it is not easy to evaluate a new project which has not been listed on any exchange. The only way to discover price of any asset is to launch it in the market and see how market determines its price. Having said that, it is also true that new projects give opportunity to make huge profit if they succeed to get good price in Market.The criteria of investment is as follows: The team should have good tracking record of successful projects, use case should be strong which is most important in my view, security systems should be reliable and audit certificate from well reputed firm is important, as well.

gloriamartin

newbie

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You can’t rely on one medium to gain information or knowledge before investing your money. I prefer telegram, bloomberg for the latest updates, whitepapers, journals, books on trading or investing, and forums.

blockman

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Every resource that I can see and search for that project, helps a lot. That's all I'm trying to do when I'm interested in a project that I'd like to invest with my money.
Not all of them are new and as long as they're already existing in the market and they've got a decent market to look upon, I'm investing in them if I find they've got a good community that they're taking care of.

joniboini

legendary

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If you don't want to go the mainstream way, I suggest you use the block explorer to find whales from the top 100 projects and find what coins they're buying or holding. It might be difficult but if you can get it to work, chances are you can just follow their buy/sell activity. This means you don't actually do any (or just a little bit) due diligence though, so if you lost your money then it can't be helped.

suzanne5223

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Your first resource is to understand that 99.9% of all new projects are hype-based and you can totally rely on what Twitter influencers or cryptocurrency shiller said about certain crypto on Twitter and Telegram respectively.
After, I only invest in the new project that is built on enthusiasm, utility, good innovative concept and longevity.

dark1234

full member

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Joining a new project is very risky but promises multiple benefits if successful according to the roodmap. and of course we will look for reliable sources so that we can be sure the project is real. The basic thing is to look for news on one of the most trusted websites or in one of the markets and other media

michellee

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It is hard to say because it will be difficult to find more information about the projects if you want to invest in new projects. After all, there is a lack of information about them. Unless you can contact the dev and the team directly to know what their project's all about, there is still something that you can miss to select the right project. Twitter, Facebook, or other social media can mislead you to get the information because the new projects do not have much information to know if that project will be good in the long term.

If I were you, I would skip for a while to invest in new projects and search for the other projects that have a history in the past to help us analyze the project to buy.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: btcrevolution on November 16, 2021, 01:35:02 AM

I mean sites, Twitter accounts, Telegram channels etc.

The most common source of information is also the most biased and hyped ones.

If you want to invest in a new project you need to have a prior understanding of how the market works and how projects develop. The rules of the IPO market dont apply much to crypto because here regulation and transparency is lacking in altcoins. Any advisor can just dump their tokens and cause sudden dumps in price and then the price never goes back up again, this is not seen in fiat markets.

Try to get in contact with the developers of the project and see what they are doing - if they seem satisfied with the work and want to develop it further, you should take it as a positive note. The team becomes very important when judging a project, do they have prior history of running a coin offering and was successful?

Whitepaper is the least important thing when there are hundreds of whitepapers available on the net one can copy and modify some of it to prepare a new one.

A major deciding factor is whether the project is actually solving an existing problem or not.

AakZaki

legendary

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Several members here have explained that it is not enough to just check the social media accounts of a project, but Roadmaps and whitepapers must be thoroughly studied, so that you will know what the purpose of the project is and what benefits you will get.

Many scam projects have sprung up and create fake whitepapers that are copied from other projects. and the members listed are not real.
So it's not just social media, there's still a lot to look into.

makishart

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Quote from: btcrevolution on November 16, 2021, 01:35:02 AM

I mean sites, Twitter accounts, Telegram channels etc.

I rarely using the social media accounts owned by the project as a resources to invest on it. The question is how can you know how strong the project and how good the development progress of the project? There are lots of things that can be considered as a way to determine how strong the fundamental owned by the project but it seems like social media was only involving to know how big engagement that already made by that project with people out of its community. Sometime i were seeing this too but it's not often. The social medias can be used to know how much audiences that already raised by remember that this might be not accurate caused by there are lots of bots. I will not also deny that if a project with big community can be considered as an important point. Social media didn't play to much to as a resources for me to dig it.

dupee419

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Quote from: btcrevolution on November 16, 2021, 01:35:02 AM

I mean sites, Twitter accounts, Telegram channels etc.

Most of the projects nowadays have every social media platform available (Twitter, Reddit, Github, Instagram, Whatsapp or Telegram, etc.), I suggest checking all these platforms out and also mind checking their website to check for such legitimacy, also, it depends on the project itself if it contains potential and a promising future for the project, if it doesn't make you feel interested nor feel the passion for that specific project then move on to another one, investing in crypto can be tricky as most of these projects contain such fake promises and shitty benefits, invest in something that interests you and keep in mind that risks are always visible whenever you are to invest in something.

GeorgeJohn

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Quote from: Bttzed03 on November 16, 2021, 05:07:30 AM

Quote from: btcrevolution on November 16, 2021, 01:35:02 AM

I mean sites, Twitter accounts, Telegram channels etc.

Apart from Telegram which I only use for chats, I don't often look at social media platforms anymore. Twitter is where you see most of the noise but if you want a more filtered selection, Reddit is probably a better option. Of course, you still see spams there but it's more moderated.

No of the social media platforms is even credible per say as a preferable one, Reddit too, their is a lot of spams there also, i can say Twitter as you mentioned will be cool than Reddit.

Bttzed03

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Quote from: btcrevolution on November 16, 2021, 01:35:02 AM

I mean sites, Twitter accounts, Telegram channels etc.

Apart from Telegram which I only use for chats, I don't often look at social media platforms anymore. Twitter is where you see most of the noise but if you want a more filtered selection, Reddit is probably a better option. Of course, you still see spams there but it's more moderated.

Ryker1

sr. member

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Well, that is not good if you only base on their social media accounts --there are too many projects that I have known that they are using paid service on telegram, they are a group that continue talk about the project but they are all the same account, they are just hyping the group to lure investors seeing their social media is super active members.
The good resources are their roadmap and whitepaper, their improvements and announcement and perhaps the last one is there social media accounts.
However, this thread should be on altcoin discussion.

mk4

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If you were to judge a project, read their docs and decide for yourself. If you're going to ask about the project on their Telegram channel, then of course you're likely to hear mostly good things about it; pretty much an echo chamber.

Pmalek

legendary

Activity: 2730

Merit: 7065

I don't invest in new crypto projects. A lot of time has passed since I did that. I do a certain amount of work for bitcoin and see no reason to gamble on new projects promising me the stars. History has shown that it very often ends in empty promises and loss of funds.

I have some money in a few altcoins which are being used by the community but I don't trust that any of them will become the next best thing or that a flippening will happen. They are just there to be swapped for Bitcoin once they reach a certain valuation.

btcrevolution

newbie

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Merit: 2

I mean sites, Twitter accounts, Telegram channels etc.

Topic: What resources do you use before investing your money in new projects? (Read 144 times)