Why its need to know every coin/token background that you are involved with?

[TalkStar]

Hello Everyone,

Welcome to my thread. As a crypto user everyday we are getting introduced with many new coin/token. All the new projects have their different background. From my own thoughts I feel it necessary to be updated about a coin/token background where i believe its really important for us if we are involve with that project. Such as when when i plan to hold or purchase a new or existing crypto currency at that time i always try to look on their projects background like;

1. When did they launched their project?
2. How successfully they raised their fund from crowdfunding?
3. Did they follow their projects roadmap properly?
4. Did they keep their promises what they have done during project launching?
5. What was the ICO price?
6. What is the current price?
7. What was the lowest price after listing on exchange?
8. What was the highest price gain after exchange listing?
9. How many exchanges listed it for trading?
10. Are they giving regular updates for their social media followers?
11. Did they got any future development planning for their project?
12. How active the developer team is?
13. What is the current volume?

Why it's necessary to know the background: For example you have purchased a coin/token but you don't have regarding knowledge about it in that situation you can face terrible losses from your investment. As we all know that worldwide crypto exchanges delist token/coin on a regular basis. It can be for the inactivity of coin/token developer team, lack of volume, violating terms and conditions any many more. so if you invest your fund on that kinda project which is going to be delisted soon from all crypto exchanges then obviously you are going to lose your fund.

Finally I want to say that before getting involve with a coin/token we need to know about that projects background properly. I hope all of us will feel it necessary to have proper information about their background before holding or purchasing a new or existing crypto currency.

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[d1ceplayer]

Yes of course, it is not good to invest in any project that you don't know it's history because you might regret ever doing so since you don't know what the project have gone through, a lot of people come to this forum shilling so many projects and a lot of newbies fall into this scam and invest in this project maybe because they see a growth in the price of the coin and they fail to check out the project to see if it's actually viable or have a real life use, which is the major thing one should look at before investing in any blockchain project.

[Malsetid]

You raised 13 good points there dude and usually, you'd be able to determine a project's legitimacy if they meet those points. If you're going to spend something on an investment, of course it's your responsibility to know about the product you're placing your money on. And these are good items to check if you're planning to do it on a crypto coin. Mind also that even if these points are checked, it doesn't guarantee that the project will have good value soon. It may take time before it's value is realized by companies and users.

[Red-Apple]

i would argue that most of the things you mentioned here are not going to make that much of a difference. for example if an altcoin had some ICO price and has a higher one right now it still doesn't make the project good and it definitely doesn't make the token a good investment.

all of them would help though. but the amount of help is going to be small if you ask me. and i prefer to stick to charts and volume changes to try and figure out where the pumpers' money is going in and when it is going out.

[cytpoway121]

Hello Everyone,

Welcome to my thread. As a crypto user everyday we are getting introduced with many new coin/token. All the new projects have their different background. From my own thoughts I feel it necessary to be updated about a coin/token background where i believe its really important for us if we are involve with that project. Such as when when i plan to hold or purchase a new or existing crypto currency at that time i always try to look on their projects background like;

1. When did they launched their project?
2. How successfully they raised their fund from crowdfunding?
3. Did they follow their projects roadmap properly?
4. Did they keep their promises what they have done during project launching?
5. What was the ICO price?
6. What is the current price?
7. What was the lowest price after listing on exchange?
8. What was the highest price gain after exchange listing?
9. How many exchanges listed it for trading?
10. Are they giving regular updates for their social media followers?
11. Did they got any future development planning for their project?
12. How active the developer team is?
13. What is the current volume?

Why it's necessary to know the background: For example you have purchased a coin/token but you don't have regarding knowledge about it in that situation you can face terrible losses from your investment. As we all know that worldwide crypto exchanges delist token/coin on a regular basis. It can be for the inactivity of coin/token developer team, lack of volume, violating terms and conditions any many more. so if you invest your fund on that kinda project which is going to be delisted soon from all crypto exchanges then obviously you are going to lose your fund.

Finally I want to say that before getting involve with a coin/token we need to know about that projects background properly. I hope all of us will feel it necessary to have proper information about their background before holding or purchasing a new or existing crypto currency.

Good and valid points
But unfortunately it doesn’t make a token good
Neither does it ensure the future of any altcoins

But it can guide your investment options

[TalkStar]

i would argue that most of the things you mentioned here are not going to make that much of a difference. for example if an altcoin had some ICO price and has a higher one right now it still doesn't make the project good and it definitely doesn't make the token a good investment.

all of them would help though. but the amount of help is going to be small if you ask me. and i prefer to stick to charts and volume changes to try and figure out where the pumpers' money is going in and when it is going out.

Before making an investment every investor needs to have clear idea about a token/coin price. Which help them to make their investment easier in many ways. Most of the successful investor follow this thing very carefully and that's the reason why they are capable of making smart profits. If you got details price information of a token/coin then you can easily decide when to invest or not.

Without having enough knowledge about a project price its kinda hard to make the right investment plan. So its always important to gather price information before making investment.