What you need to ask when you are researching a cryptocurrency
Hello Steemit Community!
You probably see people talking about coins but always saying DYOR (Do your own research), this is very important if you are investing, don't blindly follow people calls, you will always depend from another person work and research when that person stop sharing what you gonna do?
In my opinion, there are 7 important topics you need to address:
- Product
- Team
- Whitepaper
- Roadmap
- Token
- Community
- Partnerships
Product
Does the product have a real-world use case?
Is there any working demo?
Are there any other projects doing the same?
Does the product have the potential to disrupt the industry?
Team
Can you research all the team background?
Is there any AMA on youtube "so you can put the face to the name"?
Does the team have experience in fields important for the project?
Whitepaper
Is the whitepaper easy to understand?
Do they explain well the vision or is just too much technical?
Roadmap
Is not too much long term?
Is the roadmap realistic and ambitious?
Is there a clear and detailed roadmap?
Token
Does the token have a real use case for the project?
Is the token have a good distribution through the community?
Does the team have a big lock-up of the tokens?
Community
Is the community growing?
Is the community friendly and active?
Partnerships
Does the project have any partnerships?
Can you confirm the partnerships?
Can the partnerships provide value to the project?
How you research your projects?
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Good post man! I'll add in partnerships if it's being trade in good exchanges, and by good I mean with a long time and great liquidity with a good array of cryptos. In that way you know that you can exit the coin easily.
Is an important subject for sure, exchanges are essential and a big influencer in the price.
Thanks for the comment and the suggestion
Solid overview.
I would also add to check with different sources for their opinion i.e reddit etc. Now obviously there is a lot of shilling but I am talking about looking for other's opinion on the technical aspect of the project as not many people can grasp such information.
You mean checking for crypto influencers opinion?
I don't think there are many crypto influencers well-versed in the technical side of crypto, however on forums there are a lot.
Yeah i believe too, they understand more about other aspects, Medium is a good place to search for information, sometimes you find people doing technical and code audit to different projects.
simple and easy! thanks, @johnycrypto
followed :)
Thanks for the comment and the follow!
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