What makes a crypto coin/token a good project to invest in? I’ve been asking myself this question a whole lot of time and I’ve been to come up with some details to be talked about in this article…sit back, relax and you should probably get a popcorn because you are going to have one hell of an awesome read from this article and while we are at it, I want your mind to race ahead and prepared yourself to read about a special project that would be the talk of the century soon enough and it’s none other project than ITR (intercoin token).
The technical part which deals with the background knowledge of a particular coins/tokens in question, this talks about all the attributes you need to look for in any projects you would be investing on now or in the nearest future.
The Human/Community part which talks about the impact the individuals that belongs to the community of the project(coin/token) you invested on could have on you and how you think about the project itself(the psychology impact).
The crypto world is so vast and exhausting and doesn’t revolve around bitcoin alone, there are over 5500 cryptocurrencies on the market in existence today according to the crypto market cap aggregators and more are being launched by the day even as at the moment I’m typing this article the ITR tokens would begin its public sales in 3 days time so it’s a never ending cycle which makes it a bit challenging for the investors to decide on which tokens to invest in.
In fact, there are many crypto projects out there that aren’t real. Scammers have seen the gigantic opportunities in the crypto space and are fully prepared to exploit it and they’ve designed some tokens in order to get people’s money. Whether you are a noob(beginner) looking to get your foot in the crypto space or you are a seasoned(OG) investor, below are some of the techniques that I’ve been using to guide myself on any of my investment so far.
A token’s whitepaper is where you’ll find the team’s aim for the project and the token’s use cases, as such will help you decide if realistic goals have been set. And even if you’ve found those realistic goals, you need to be sure they weren’t lifted off of the pages of another project’s whitepaper. It’s been done in the past and it’s still happening currently.
After having a good understanding of what the project offered, the next thing to do is to asses the team behind the project. Has anyone worked on a reputable projects in the past? Are they reputable members of the blockchain ecosystem? What are their qualifications?
The goal of this assessment is to be confident in what you are investing in, to know the token is backed by people who actually knows what they are doing and I can boldly say that the ITR team knows what they’re doing and the CEO has a solid reputation in the blockchain ecosystem.
A proven way to invest in an ICO(Initial Coin Offering) is to keep an eye on the token’s community on social media especially the Twitter’s platform. Here, you’ll get to know if the project has a large community supporting its cause but there are cases that differs when it’s a new project and they are building from the scratch and such is the case of the ITR token.
And another useful impact of the social media is that you’ll get to know what others are saying about the project as well, you’ll get unfiltered truth and this might help you to make an informed decisions but be mindful as some projects paid social media influencers to shill their project even though the project is sub-par and they might not delivered what they promised in their whitepaper.
Yes, I’m happy for you because you’ve found a great ICO to invest in, but you’re not allowed to participate due to your jurisdiction(I’ve seen cases whereby some tokens can’t be staked to generate passive income when you live in the USA, such example is the Verasity token). You’d be breaking the law if you went ahead to make an investment.
That being said, you need to be sure that regulators in your country have not restricted participation in such offerings.
This is another key factor you mustn’t joked with when analyzing a token you’re about to put your hard earned money on because it determines the utility value of a token’s market value. So, as a smart investor that you are going to be after reading this article, one question you should answer before investing in a token is this; What unique problem is this token solving? ITR gives you sound money, individual choice and true democracy, I can boldly say that not many tokens out there offers this three qualities to their users.
This isn’t the end of this article as I will be making updates from time to time and I hope you enjoy the read…