- Top Dog
How I begin my research into crypto projects. - Ryan CMO
When I first started my cryptocurrency journey, I didn’t really know what to look for when investing into projects. My favorite tokens to trade are erc20 tokens; these are tokens on the Ethereum blockchain that can be created by anyone or companies for uses of utility or payment. These tokens are also referred to as community tokens because the strength of the token is found in the community, or investors in the token. When it comes to money there are scams; so just like anything in the fiat world, cryptocurrency also has scams that come along with it, it is part of the game. Below is a list of things that I look for before even thinking about investing my money into a token.
1. Is the website professional?
a. Proper Grammar
3. Telegram / Discord
a. Are the developers active in the chatrooms?
b. Are they willing to answer questions?
c. Is the community active?
d. Is there positive or negative activity?
a. Is there an actual use for this token?
c. Is there a future to this project?
The list above is what I look for when look to invest into a project. These are things that I feel question the longevity and legitimacy of the project. I personally do not like pump and dump projects, I look for real utility something that I can invest in long term that can bring financial freedom to my family and I. If the developers are not active, not responding to questions, and the website is done poorly, it brings up a lot of red flags that this could possibly be a scam or a rug pull. Being safe with your money and protecting your investments should be your #1 priority, and it should also be the #1 priority of the development team to make sure your investments are safe. I will continue talk about this subject in upcoming blogs. Remember; this is not financial advice, just something to help guide you into what to look for in an investment.