What’s your opinion on buying new emerging coins that are not yet on top and cost less than 1 dollar?
How do you decide whether they have potential to grow or not?
look into what the coin is backing, is there future growth potential? What’s the market capitalization? there are many factors to look at, but I have coins under a dollar that I’m just holding. Google and youtube is your friend
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They will not make you millionaires but can provide slight profit. I normally check the development team behind the ICO. They need to be credible enough to invest in. You also need to check their goals and feaseable capital growth.
It depends on the project of the coin. You have to check if that coin has the potential to grow in the future, its development team, roadmaps, projects etc.
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It’s not so much about price for me, but whether the project is just that, a project, or are there real-world implementations backing, or better yet, using the coin/token.
Then of course, what does the coin solve? And who is behind the project? What is their experience in the crypto world, and what if any of the team has experience or a background in whatever industry they’re trying to disrupt?
So my suggestion, follow the news, follow anything and everything about it. Reddit is a great resource. Read the white papers. Check out Twitter also. Lots of smart crypto folks out there with lots to say.
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The most importat part of cryptoinvestor`s work is "due dilligence of interesting ICOs. You need to find out as much, as possible about their team, whitepaper, roadmap and technology. For sure, it was a great idea to invest in nearly each project - but it was two years ago. And now, after dozens of scam ICOs, on bearish cryptomarket, when even interesting project are in continious downtrend, it is extremely difficuilt to find something realy interesting.
Analysing each project, try to find the answer on two main question:
- Does this project solve existing problem?
- Could this problem be solved without blockchain?
Couldn’t agree more! Just make sure that there is a tangible product behind the ICO - if you have time, and are planning a large investment, take time in researching the project.
People overlook this so much but READ THE WHITE PAPER - take time to really get the project. Join them in their Telegram channel, ask them questions. This is the best way to find out whether a project is promising and get an idea of whether the company might succeed. What’s equally important, is making sure their business plan is thought-out and they have the human resource to enact their ideas.
If you are worried about scams, you can even check employees’ LinkedIn to confirm they are really working there. Find out their background and see if it fits the company profile.Try and see if they are registered somewhere if you can search public trade registers.
Disclaimer: I work for a small company running a token sale! This is also why I know how many scams there are still out there, we get emails on a daily basis from fake companies who want us to be “partners” or want to write press releases etc. for outrageous fees. Nonetheless, there are truly amazing companies and projects who are working veyr hard to make their projects a reality, and are worth investing in!
Good luck!
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I really wonder what majority of buyers over the last 18 months ever actually did this. I’d hazard to guess less than 5%. If the white paper doesn’t make sense, find somebody that understands it and get their opinion.