How do I know the trustworthyness of a new coin?

[batdog890]

Hi people,
I am relatively new in this field. Having done some "trading" of alt coins in 2018, I would like to seek the opinion of more experienced traders and hopefully gain an insight as to how can I better differentiate coins with higher potential and coins which are basically crap.

Thanks in advance!

[1715035447]

1715035447

[qualitywork]

Hi people,
I am relatively new in this field. Having done some "trading" of alt coins in 2018, I would like to seek the opinion of more experienced traders and hopefully gain an insight as to how can I better differentiate coins with higher potential and coins which are basically crap.

Thanks in advance!

You need research more on cryptocurrency and how it works then after you will come to know about the potential of a coin. Without knowing anything don't Invest in any coin, if you want to invest give prior to top 10 coins of the CMC chart.

[Bharathi13]

Yes presently there are more than 2000+ cryptocurrencies available for trading on the market. Each cryptocurrency have a different vision & vision targeting specific industry or sectors with their business model. There are few cryptocurrency which have similar missions and visions i.e competitive cryptocurrency example ETHvs NEOvsEOS etc. If you want to know the trustworthiness of  of a new coin then you will have to do little research on them. Before starting your research you will have to clear your basics first like
>how blockchain works???
>Difference between different kind of cryptocurrency such as Coins, Token (utility & security) etc
 Then choose one cryptocurrency which appeals to you more or in the field which you are familiar with. Then start your research like team background, technology, community, how they are working on adoption of their technology by users, their weakness & strength, their competitors, their daily trading volumes on the exchange. This will help you analyse some coins or token.

[Andruha1993]

Coins with potential are on the market (coinmarketcap). There is detailed information about each coin. So read, analyze and study. Usually promising coins are on the market in the top 20.

[shirackjs]

There is only one way for you to know, that is to spend time doing research. I will normally check on the team members, read the white paper, join the official telegram group to interact with the team members and community.

[xenomorphe1]

The new coin should not be too new if you want to know its trustworthyness. And some coins after one year disappear. Some coins don't completely disappear, but they are being traded very rarely.
You should look at the coin forum, reddit, etc... Look if there is more development or more work from the team to make the coin more known to people.
The more users a coin have, the more chance it can be trusted.

[Muzika]

Hi people,
I am relatively new in this field. Having done some "trading" of alt coins in 2018, I would like to seek the opinion of more experienced traders and hopefully gain an insight as to how can I better differentiate coins with higher potential and coins which are basically crap.

Thanks in advance!

Basicall reseach is must, if you want to do a successful trade you really need to look for a coin you can look for its volume because it can be the basis for trading the higher the volume the good chance to have a good trade is.

[blockman]

Go with their background. If the team is unknown and doesn't have any good track record, I'll start going away with those coins. But if the team is known and keeps on working very hard for the progress of a coin, you should consider that coin. Why are you going with the new coins? it's good to stay with the coins that are already established. They may somehow expensive but the volume of these coins can give you the profit that you wanted if it moves even to a small increase.

[PriyamShah]

If you're just starting out, you can check reviews made by other people on that coin to get a basic idea about it. If you're willing to put in the elbow grease, you can check the various features that specific coin offers like privacy or decentralization. You can check how valuable such features are by comparing them to other more popular coins. If the team releasing this coin has been trustworthy and released a few good potential coins then you trust the new coin as well. To be honest, the best coins to invest in are already on various markets top coins list. I would suggest that you invest in these established coins rather than finding very young and newly bud coins to invest in. I might be saying that cause I don't have much of a risk appetite myself 

[Ozunab]

In my personal opinion i will invest on coins that have stable over they launched.                                                                

[VitKoyn]

Hi people,
I am relatively new in this field. Having done some "trading" of alt coins in 2018, I would like to seek the opinion of more experienced traders and hopefully gain an insight as to how can I better differentiate coins with higher potential and coins which are basically crap.

Thanks in advance!

You can identify a cryptocurrency that has a high potential to grow in the future, if the developers and the team behind it are working hard to make progress on what is stated on their roadmap, if not then who will want to buy a coin that has no future improvements, right? But of course the coin should have a future use cases for people to adopt it, if not then it will be just like other shitcoins that are being pumped by short period of time then suddenly gets dumped that will be dead eventually. If it is a new coin then it will be hard, we have seen a lot of projects that has the potential but still failed and some just turned into scam. I also do trading but what is important to me is the trading volume.

[Hallmader]

Hi people,
I am relatively new in this field. Having done some "trading" of alt coins in 2018, I would like to seek the opinion of more experienced traders and hopefully gain an insight as to how can I better differentiate coins with higher potential and coins which are basically crap.

Thanks in advance!

You need to read updates, news, and other developments of the coins. You need to follow them through their website, social media pages, ANN threads, and other outlets where you will get them updates. There is no other way but to do this. Of course these are the fundamentals. You will also be gaining good strategies if you study and learn the different patterns of trading. That is, if you want to know the technical side of the rise and fall of prices.

[purplemoon]

Hi people,
I am relatively new in this field. Having done some "trading" of alt coins in 2018, I would like to seek the opinion of more experienced traders and hopefully gain an insight as to how can I better differentiate coins with higher potential and coins which are basically crap.

Thanks in advance!

At the moment, it is very difficult to talk about the real potential of a project. The market is very speculative. Those coins are growing, around which a lot of hype. Once this nonsense will end, but not in the near future ... That is the reality. The technological part of the project does not matter.

[siupang2]

I think the team now can be faked by other people and it's hard to search how trustworthy this team because there are a lot of coin and also the team, for me I will see their code if they github is live but if they don't have (maybe prevent the copycat) I will see others aspect such as the website, whitepaper, and sometimes their partnership

[Cnut237]

Hi people,
I am relatively new in this field. Having done some "trading" of alt coins in 2018, I would like to seek the opinion of more experienced traders and hopefully gain an insight as to how can I better differentiate coins with higher potential and coins which are basically crap.

Thanks in advance!

In short, research.
You need to look at everything to do with the project: team, roadmap, white paper, etc.
You also need to look at any relevvant external factors, so competitors, potential legislative obstacles, etc.
Basically evaluate how likely they are to achieve what they want, and also if they do that, how much real-world demand there is likely to be for the coin.
If it is a coin that has already had its ICO, then look at how close they came to hardcap (i.e. how much demand there was for the coin).
Obviously if it is a live coin then also look at trading history.

If you're only interested in short-term trading then there are other specific trading strategies and tips to follow; the above is just for evaluating the overall long-term prospects of the coin.

[EthanKai]

Hi people,
I am relatively new in this field. Having done some "trading" of alt coins in 2018, I would like to seek the opinion of more experienced traders and hopefully gain an insight as to how can I better differentiate coins with higher potential and coins which are basically crap.

Thanks in advance!

Coins that are in the top 10, or even up to top 20 are sure coins that have long term potentials. These coins have already proven track record and capacity to weather the bearish crypto situation and will continue to do so. Aside from that they already have the solid community supporters that will make the coin on top.

[disconnectme]

If indeed you are a trader there is no need to worry about the quality of a project because you just there to make quick bucks and move on, what you need to do is to follow the news, hype and know how to read and study the charts, if you can get these things right then you should make money trading unless you are an investors

[sexylady13]

Hi people,
I am relatively new in this field. Having done some "trading" of alt coins in 2018, I would like to seek the opinion of more experienced traders and hopefully gain an insight as to how can I better differentiate coins with higher potential and coins which are basically crap.

Thanks in advance!

To get a worthy opinion you'd better choose a trader whom you will trust and pay him for a consultation. Here you'll get only useless pieces of advice which won't help you and even do harm!

[cryptonx]

Hi people,
I am relatively new in this field. Having done some "trading" of alt coins in 2018, I would like to seek the opinion of more experienced traders and hopefully gain an insight as to how can I better differentiate coins with higher potential and coins which are basically crap.

Thanks in advance!

For me an Active development and strong community behind is a big sign if the new coin have a huge potential to grow in the future my friend,,, of course with a lot of features inside the project 

[wuvdoll]

I am relatively new in this field. Having done some "trading" of alt coins in 2018, I would like to seek the opinion of more experienced traders and hopefully gain an insight as to how can I better differentiate coins with higher potential and coins which are basically crap.

Easiest option is to wait. I know if you wait that you will miss out on the possibility of making money but in the end you can still make money or even at least make sure its trustworthy. So, it depends on what you want to do with this new coin. If it is buying early and making a ton of money later is what you want than you will have to risk a bit because even if the coin is trustworthy and the people behind it works really hard to make the coin really high they might just fail because of reasons they can't stop themselves.

Hence, even a trustworthy coin project could fail. However, if it is only caring about a coins trustworthy than just wait couple months after the rounds close and than check if they ran away with the money or if they are really providing the things they promised, worst case scenario you will catch them at early road map and get in before they keep improving the coin.