what are the most important things to ask when checking a new crypto project?

in #cryptocurrency7 years ago

You're here on steemit and you're definitely interested about #crytocurrency but what do you look at when checking a new project?
what are the most important things to ask?
These is the main thread with the questions I make when i find something new on the crypto space!

these are some of the things I check before deciding to invest my time (and sometimes my money) on a crypto project.

General research: The first look (coinmarketcap/bitcointalk/main website)

Is it listed on coinmarketcap.com? Does it have a thread on bitcointalk
How is the main website? Do they have an active and working blockexplorer?
What is total supply?
What is circulating supply?
What is actual price, ATL, ATH and where is the price right now?
chart looks good?
if it's an old currency already:
Can I identify in which phase of market cycle the currency is right now?

These are things that doesn't take a lot of time to do superficially and can already discard several projects.

Features

Does it have a differential from other coins?
Does it have anon features? Privacy focused? Masternodes? POS, POW or both? which algo/difficulty?
Why would I get this project and not one of the millions out there?
what is the value this crypto is bringing? Can it be massively adopted?
Can it grow in the future?

Team

Is the team anon or not? (both can work) What they've done in the past?
do they hold most of the coins (premine) and if yes what they plan to do with this premine?
roadmap / whitepaper?
What is coming in the future for this coin?
Do they active communicate with the users/investors/community?

Community

I'd put special attention to the bitcointalk thread. How many pages does the main thread has?
is there activity/movement/comments on it?
do they have a main forum?
Are users willing to share news and posts about this crypto?


When I find I project that answers these question positively I decide to invest (my time, money,energy) and participate on its growth.
One of my picks for next season is DeepOnion for example. With active community and awesome features for the future (deepvault, votecentral,deepsend) I believe the project has a lot of room to grow.
Of course I have other picks as well!

let me know:
What are the questions you ask before investing in a new project? let me know in the comments.

remember you can buy some $ONION at cryptopia and jump on the boat and join the airdrop by clicking here.

Not investment advice. Never invest more than you can afford to loose.


If you like this post please give it an upvote, resteem and follow me. Steem on!

for other social media websites:
reach me at Malabarize-se on Youtube, facebook, Google+ or @lucasgabd on Twitter

Thanks a lot dear friends!
Talk to you soon!

My latest posts:

Sort:  

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by lucasgabd from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP. Be sure to leave at least 50SP undelegated on your account.

Coin Marketplace

STEEM 0.20
TRX 0.13
JST 0.030
BTC 65762.16
ETH 3485.95
USDT 1.00
SBD 2.50