On Monday we discussed how willingness to wait affects the success of an investment.But how do you know which project is worth the wait?🤔
Let's break it down using altcoins as an example.
Altcoins can offer a lot:
🔹fast transactions;
🔹enhanced security;
🔹anonymity;
🔹new ways to mine.
There are about 16k altcoins on the market.🤯
Each project is unique.
However, many fail to survive the competition and only a few find a positive response from the community.
How to tell the difference between a promising project and a failed one?
🔹Is the project needed? What is the problem that it solves?
If the project doesn't solve any problems and there is no need for it on the market, it's probably going to fail.
🔹Check out who is behind the project. What is their experience and competencies?
I'm not saying that the lack of relevant experience always means 100% failure, but you need to make sure that the founders know what they are doing and how to accomplish it.
🔹Study the whitepaper of the new token.
The more detailed it is – the better.
🔹Who is supporting the project?
Support by investment funds and large players in the crypto market is important.
🔹Is there a reason for growth?
Evaluate the tokenomics and business model and determine what will serve as a trigger for value growth.
Points that I mentioned above will not 100% predict the success or failure of the project, but these are basic points to which you should pay attention while researching a new token.
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