What issues should be considered before investing in a new DeFi project token?

[91254vvpatel]

Here is my strict answer, there is 99% chance that the DeFi project you are about to invest money on is a scam, if you plan to hold for long term it's better to invest in old DeFi projects, all I can see now are cloned DeFi projects looking for big money to steal from investors, take DeFi projects as operation no mercy, do intensive analysis on them first

I really liked the way you explained. I will definitely follow you. And I will keep this in mind. I will focus more on the old than the new project. Because people have more faith in it.

[amishmanish]

Currently there are many DeFi projects in Crypto INDUSTRIES. And they give their tokens in various reward programs. But which project to invest in is proving to be very, very difficult. So which issues should be considered for that.

I haven't benefited from any of the ICOs or DeFi projects ever yet. Mostly I try to look for an actual product and a lot of times I put money in hoping what sounds good and sincere will turn out to be sincere. But inevitably, only pumps and dumps work in this market. I am not giving up on crypto though and i still believe there are good projects and developers out there who are drowned out by the scams and bullshit.

Before investing:

1. Make sure you get in early.

2. Learn to read the contracts and checking blockchain data to link dev accounts and their transactions to have some account of their legitimacy. Someone with zero history is generally a red flag.

3. Stay away from projects that issue multiple tokens. (Some could be good but this is pretty much a recipe for over-stretching community.)

4. Look for a balance view of community and try to ask questions in the AMA. A live answering session is the best way to gauge a team.

5. Realize that it will always be risky so always recover your principal first, no matter how great the projects looks or sounds.

[91254vvpatel]

Currently there are many DeFi projects in Crypto INDUSTRIES. And they give their tokens in various reward programs. But which project to invest in is proving to be very, very difficult. So which issues should be considered for that.

I haven't benefited from any of the ICOs or DeFi projects ever yet. Mostly I try to look for an actual product and a lot of times I put money in hoping what sounds good and sincere will turn out to be sincere. But inevitably, only pumps and dumps work in this market. I am not giving up on crypto though and i still believe there are good projects and developers out there who are drowned out by the scams and bullshit.

Before investing:

1. Make sure you get in early.

2. Learn to read the contracts and checking blockchain data to link dev accounts and their transactions to have some account of their legitimacy. Someone with zero history is generally a red flag.

3. Stay away from projects that issue multiple tokens. (Some could be good but this is pretty much a recipe for over-stretching community.)

4. Look for a balance view of community and try to ask questions in the AMA. A live answering session is the best way to gauge a team.

5. Realize that it will always be risky so always recover your principal first, no matter how great the projects looks or sounds.

Wow, the way you explained it to me, and answered my question, I'm really grateful to you. The issues you have to consider. That's really excellent. I will always keep this point in mind and keep it written in my book. thank you.