Speed Up Your Crypto Research
Researching a coin takes a ton of time. What if there was a way to speed up that process?
Well, there is. We will show you some things you can check right away to save time looking at coins.
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1. Check For A Beta or Demo
If there is a beta or demo use it. This will allow you to see the product in action. If it sucks, is confusing, or just doesn’t work it can tell you a lot. If you do not like it, then why would you invest in it?
2. GitHub
Go to the projects GitHub site. See how often they have commits and are checking in. If there have not been any in months, this can be a red flag. If they are active, that is a positive sign.
3. Search For Info
A good place to start is their website. They will often have videos explaining the project and what they are trying to do. If there are no videos on the website check YouTube. It is always good to find videos created by the actual team and then you can check other websites or places you get information.
4. Token Distribution
Seeing where they are allocated the tokens is important. You do not want to see the team keeping them all. Check to see if the tokens are vested for a period of time for the team before they can sell. Make sure where the tokens are going is useful and helping the project long term.
5. Look At Team
Look at the team and check their linkedin accounts. Odds are you will not know any of the people on the team and that is fine. Just look into their backgrounds and make sure it adds up. You do not want to see that they have no experience with technology.
6. What Is It Solving
Ask yourself what the project does, how it works, benefit of the project, is there a real-world problem it can solve? These questions can tell you if the project has value and use.
7. Competition
Find out if there is any competition and what their value is. If the competition is valued way less than the project you are looking at, this is a red flag. You want them to be valued somewhat similar.
8. Roadmap
When looking at the roadmap you do not want to see things too far out. For example, you do not want to see the product coming out in 2025. Things should be realistic and not too far out.
9. Market Cap
The market cap for a coin can differ for each product. Looking at the competitions market cap can give you an idea of where it should be. You do not want to see such a large market cap that the price will never move and can become worthless. The larger the marketcap then the harder it is to move the price.
10. Check Network Of Friends
It is always good to have a network of friends or people you can ask questions too. They may have some insight that you did not think of.