Bitcoin Forum

If you're an active trader, I'd appreciate your suggestions on what to consider when choosing a favorite token. I typically focus on factors such as utility, nature, team, and roadmap. Recently, during my research, I came across $AVA, which caught my attention due to its unique feature allowing community input. It's building a decentralized, networked loyalty ecosystem.

What intrigues me about AVA is how it transforms the loyalty landscape. The token serves as a payment alternative for goods and services on partner platforms and acts as a governance tool for the AVA community. It essentially functions as both cash substitutes and prizes.

The governance aspect also aligns with the AVA Foundation's primary goal of simplifying and making partner projects' experiences affordable. I discovered the token as it prepares to get listed on the Bitget platform

Here's the question, What criteria do you consider when choosing your favorite tokens?

These are the criteria I'm looking for in a coin that I am interested in investing, the team composition, they should be real developers who have good expertise in creating a good project and they have a good character that will make sure that they can complete the roadmap through its completion.
The project should be real and it should have usage that the majority of the community can use, it's easy for a coin to gain support if they have usage.
The project is real and not a copy-paste of an existing or dead coin, so many projects are caught using other projects' roadmaps.

I usually pay attention to several key criteria when choosing tokens. Firstly, I look at the project's structure, whether it's in the realm of DeFi, GameFi, Web 3, or an entirely new and promising blockchain. Next, I examine investments from funds in the project, the team, and the roadmap, which is crucial. Most importantly, I assess the implementation of the roadmap because many projects make promises but fail to deliver. These are probably the main criteria I use to evaluate a project.

Exactly, that's what I look at most times. These days some developers rush to do some projects due to the bull market that's approaching but when we do proper research we can look into those that are genuine with good use case. Like DUEL, came out recently and they have something good coming then ICP, great project

you're going to look for which of the coin could go up in less than a week which means you will have to add a lot of altcoin charts in your traidingview and monitor each of them to see when it's time to buy and time to sell. traders often just trade on BTC/USD, there is no favorite coin but BTC and just making money.

right now, you must be loving lots of coins since they all crash. it's just choosing which of them is going to the moon as early as possible.

I dunno abt "nature" of the $AVA token, but I know for sure that there's a solid team behind it and I certainly consider that before buying any crypto. If you're a holder, then you have a really solid one up there mate. Keep holding👍!

I usually pick old alts which has a solid history and wide user adoption. There aren’t many that fall into this category so my job becomes very easy. Xmr, eth, ltc, doge are pretty much the only alts that have these qualities. Xmr is fully anonymous, ltc has good user adoption, doge has slightly less adoption but has very cheap transaction fees and eth is the original shitcoin factory which will be around for a long time. So buying any of these probably won’t be a bad idea in the long run. There aren’t any other interesting project which will make me invest. All else are the same thing with different colors to me.

People actually have different criteria when buying a new coin/token, personally i don't buy altcoins because majority of them lack any useful use case and they are built on just hype and fake promises. The thing is, you could have certain criteria and things you look out for in a project, only to purchase them and the projects fail in the long term because they were either not sustainable or it was a scam peoject.

If you must buy altcoins, the better option is to stick with older and more established coins, like Ethereum for example, if you make it a habit of buying new coins, be ready to lose quite a lot of money doing so.

I am not an active trader but one thing that I considers is checking the community of the project that I am spotting on. If there's so much valuable information that's being spread through its community then that means that they're helping each other and keeping their community informed on what they're doing. Like with the examples about the progress that they make and updates about listings, etc.

Honestly, most of them are just the same in terms of all of the purposes and updates but they're just choosing different chains on where they think is going to be best for their project. Some may say about the supply limit of the coins, well, I'd put that on the last list of my factors because many of them won't be considered valuable even if the supply is just few and they're just following the path and structure of Bitcoin for having a limited supply.

I think you're totally right here. Following this, it's obvious that there are quite a lot of copy paste projects out there and one need to do thorough research before diving in, which I why I don't feel shy to ask questions when I need to see things differently.
I also look at project plans to get more awareness like listing on top exchanges like Binance or listing and Launchpad events on Bitget, it gives me a sense that such projects don't run away from scrutiny and monitoring to curb any suspicious acts by the team.

Tokenomics also speak volume too in making the right choice.
Thanks for that insight.

This is good too, I have a question though. Where do you verify all these things, because a singular crypto journal website like say coin marketcap might not contain all these necessary information for some projects. Or do you just rely on details from their website?

It’s quite hard to evaluate newly launched projects but i try to look at the team behind it and their official websites of course looking at utility and how much privacy will be valued in using the coin

Liquidity is also a factor to consider when buying new coins

I don't have a favorite coin except for the one that can give me a good return on investment. As an investor with the sole aim of making profit, favoritism is not as important as maximizing profit while the market is positive.
In other words, an investor looks out for a coin that can give x500 and above, i don't need to give names, do your own research.  A real project not memecoin that only lasts for a few days.
There are quite a few such projects that can do well this season and can also give good returns. Having a favorite coin can only result in being a bag holder because you refuse to sell when you should have.

Keeping the community up-to-date with information concerning the project Development along the roadmap is key in a project I settle with too. Infact it is part of what I consider whether I will hodl a token long term or short. That said, the team organization is the most vital factor I look out for and the performance of token on Exchanges if it's already listed.

I don't usually use Trading view as much as I use a Dex and do some maybe little of copy trading on Bitget and then I read up some reviews by some experts in this forum and follow some of their steps, because the market can be very volatile and unpredictable. Who could have been able to predict what will happen next exactly the way it would?

I'm not actually a trader, so my suggestion can be different. No any token becomes my favorite, I try as much to spread my funds into different Altcoins, you never can tell which will give maximum profit, that which one have in mind may not be the one to return good profits.

Before investing in any Altcoin, first considering the credibility and their chances of lasting long in the market, considering their white paper may not be sufficient as most of them are built on lies.

I look at everything to make sure it doesn't have any attributes that will give me a sense that it can be a scam project. A projects tokenomics, team, VC and concept are something that needs to have a closer look to make sure all of these make sense in the project. It also gives an idea of the possible price per token for the project and its long term potential to grow. To be in a favorite category a project needs to be good in the long term because these are the projects that i am going to hold if price goes down.

Those criteria you mentioned — utility, nature, team, and roadmap used to be some of the things I looked at for during the ICO era but it has been widely abuse in the past and now, not sure if it would hold up much when it comes to performance of the token/coin. What you want to look out for nowadays is to figure out what the current trend is and stick with it
 No one really cares about utility and team these days because most utilities are not even feasible and teams can flip at any time.

For an example, see EOS.

When you said 'bag holder', it reminds me of my early days in this space however, The AVA mentioned could be worth buying and trading tho,  cos it's adoption is showing in real figures. Stats on CG and CMC shows that more than 60% of the current total supply is in circulation and it's 24hrs price action is also promising. I have not read much about its use cases which has been my reason for considering any project but with Bitget in the picture of listing it in few hours, I will say we shouldn't fade on it cos their listing team seems to have an eagle eye. ORDI and PYTH that was recently listed there before other exchanges confirms my assertion.

IMO, this is a good factor that you've mentioned for AVA and if you're wanting to invest on it, that's nice. What I think is that you're not for AVA but you are for Bitget. If someone's gonna take a look at what you've been telling in discussions, you probably work for bitget.
Well, for me, it doesn't matter because we all have a choice and if it ever gets listed there, will it have more impact to its own economy? I don't know because it's already quite big and will it need the help of that exchange for it to have more volume, maybe.

While it's actually a good key that we've been considering. There are projects that after being listed to exchanges and have got that valuation for their coins or tokens, they'll just leave and abandon the project when they're done with the sale of their own shares. That's what typically is happening from many projects that we consider but if you're able to find a precious one and still consistent, you'd definitely gonna love that project for real.

This is vital because listing on known exchanges are going to take time and requires a lot of money. If the project you've been following lists on the small exchanges where in they've got a lot of shitcoins and pump and dump tokens, you may think that the project you're into with is gonna be the same with the flocks that are being listed there. So, what you have to do is before the crowd dumps it, you have to accept the fact that its category is the same as the listed cryptos there.

You mentioned DUEL as a good project, what made you say that? Have you compared it with AVA and see reasons for this? Do they even plan to list on major platforms like Bitget or Binance spot? We need facts.

The first thing to look out for in a coin before making your choice for me is, you have to ascertain the authenticity of the project, that's to know if the project is a scam or real because money is involved and human beings can do anything to make money on the expense of other without being bother about others feelings, you will also have to check if the project can have upsurge within a short period of time, this is the main attraction of many investors and most of them fall victim because of this, lets not forget that a project might look promising but at the end it will be a disaster this is why we really need to up our games when making choice in respect to coins.

definitely the total supply and how legitimate the project is, I mean if you are kinda veteran you will know right off the bat that some coin could be shady a f and the other that has proper information are worth to look into.
but usually I will always try to look into the total supply first since if I know that the circulating supply and diluted market cap is too high I know this coin isn't good for investment.
but at the end of the day the fundamental is also as important if you know the project truly gives ground breaking innovation meanwhile also being supported by big investors you almost know that this project might have a future.
i refrain from investing into a project that available in dex for too long and not even get the chance to get listed into the CEX though as far as my experience, being listed on CEX means you most likely meet the criteria of being a serious project in my
honest opinion.

You're absolutely right,in my own opinion I think the  best thing one should do before picking your favorite coin, first and foremost you have to take a deep research on the project if it is scam or not,and secondly how long is the project going to last, reason is because there are some newly launch project that only last for 1 to 2months. at this point a lot of people might decide to invest on this newly launch project hoping that the project is going to last for a very long period of time, that is why we need to be extremely careful with the kind of projects we invest on.