A FEW WORDS OF WISDOM ABOUT HOW TO KNOW A GOOD PROJECT FROM A BAD PROJECT.

COMMUNITY
I tend to drill this home whenever I speak about new emerging cryptocurrencies, don’t judge a new coin by what they say about their project or the expectations of the outcome of their hard work. Don’t listen to the hype or the possible worth. Don’t buy into the overabundant Youtube videos or the dozens of articles and promotional material they might put out.

Judge every new coin by the way they run their community.

I say this because of two reasons.

One, how they run their community is a telltale sign of how they will run their project.

Two, if there isn’t moderation and community grooming, there is very little hope for the coin they’re trying to get you interested in. In fact, the very first thing to go bad in a cheap cookie-cutter coin is the community.

FUTURE OUTLOOK

I always look for a timeline when I start looking at new coins. It’s too important to not look.

Visit their website, look for a timeline of past and future endeavors and try to figure out when they first started out.

Then look at their future plans and see what they are striving to accomplish.

They might talk about the technology behind their coin or the possible uses, and what it might matter to certain systems, banking, transferring wealth and all else, but what matters is if there is use, if there are companies or systems utilizing what they claim will be used.

A good example of one coin actually making headway with these futuristic endeavors would be Raven Coin. As just an example, Raven has already sealed a deal with Overstock to utilize their coin.

So when a coin project tells you that they’re going to do this or that, it might pay to see if anyone they’re trying to win over, in which arena of business, is actually using their coin.

PROJECTS UPCOMING FOR THE COIN

Will they have their own wallet? Their own exchange? Will they make it more user friendly and more useful? Will they just sit there and try selling their coins to people, or will they take on more roles and directives geared towards their coin being easier to hold, exchange and spend?

Take NRG for instance, they are releasing their own exchange system, a stake enabled mobile wallet and more.

What is so unique about how NRG is doing this is that they’re aiming to help other nations and while doing so, retain their community sense of ownership, including them into a transparent world of their endeavor and hopes.

Other coins are doing similar things, and its in that directive of future planning and follow-through, that helps a coin create and maintain its own wealth.

LEADERSHIP AND TEAM

Another real game-changer for any currency is who runs the show behind the scenes. No real coin can be totally leadership free. All coins are tended to and controlled by leadership. A strong team of leaders and marketing professionals, content creation and security helps to bind the structure of a coin’s worth.

The better the leadership and direction, the easier it is to apply reasoning towards buying or neglecting a possible coin for investment. Raven is a good example. Energi, Cardano, Ripple, and Stellar all have a very independent and driven team working behind their coins to ensure it retains relevance and worth.

CHARTS, RANKS AND GRAPHS ARE NICE…BUT…

Everything can change in a heartbeat. One week a coin can be worth 15$ per and then the next thing you know it ends up at 0.002 per. It happens, and unless there is a strong team standing behind the coin, so if it drops down, they are applying not damage control but FUD control to the project. 

Take my advice when you look at a new coin and make sure you’re dealing with good people with a strong reputation for progressive ideas.