There are several thousand cryptocurrencies, and new cryptocurrencies appear every day. It’s not easy to choose which projects to pay attention to when faced with such an important catalog.
Find promising cryptocurrencies
Cryptocurrencies follow trends and if you can anticipate them, follow them and get out of them earlier than the rest of the market, it will be a jackpot.
From the summer of 2021 and 2022, the hype (trend) is currently on the side of NFTs and the metaverse. Prices for many of the projects associated with this have skyrocketed and could represent excellent investment opportunities.
The world of cryptocurrencies is huge and complex. Therefore, it is important not to make a mistake, to follow a few simple principles when you want to invest. The purpose of this part is to bring out the key elements for analysis so that you can discover a promising and high-potential cryptocurrency from a failed cryptocurrency.
If a project guarantees you a minimal return on investment, or encourages you to invite many users to earn more, it’s probably a ponzi scheme. It can grow very fast and bring you money, but will inevitably collapse when there are no new members and you will lose all your investment.
There are a lot of scammers, do not fall for false promises and do not blindly follow the advice of other people. A reliable cross chain exchange for you on a clickable link.
Rely on your first impression
As in real life, first impressions rarely leave a second chance. The project you want to invest in must look flawless at first glance so as not to scare away potential investors. First you have to analyze the title and logo of the project. It may seem trite, but if the logo is of poor quality, it can say a lot about the rest of the events.
The site is a showcase of the project. How can a team carry out a technical project related to the blockchain if they are not able to create a quality website? In general, the site of the crypto project will allow you to access the following resources:
- Information about the project (goals, white paper, roadmap, distribution of tokens, etc.)
- Team members and advisors
- Social networks
- Last news
- Project history (launch date, ICO, etc.)
A beautiful site and important activity in social networks does not mean that the project is of high quality and you can run with your eyes closed. Some projects spend a lot of money on looks to make people want to invest.
In this part, I will tell you about the important points to analyze in relation to the project you want to invest in (find out the quantitative usdt to btc price). The latter should have a clear direction and occupy a well-defined niche. To help you with your analysis, you will have to rely on the white paper and project roadmap.
This is a practical guide of several pages dedicated to the presentation of a project or cryptocurrency. White papers are mainly used to convince people that they are interested in a project and let them fully understand the challenges and feasibility. You can find it on the website where the cryptocurrency is represented.
The roadmap allows you to graphically materialize the important stages of the project. This is a clear and precise action plan that includes the main steps the team needs to work on and the estimated time needed to complete each of those steps. If a roadmap exists, make sure it is followed and updated. If you see that the first milestone is already 6 months late, this is usually not a good sign to continue things.