What makes a crypto project reliable and trustworthy ?

[Johnyz]

Bitcoin is the King of cryptocurrency and most altcoins are way less qualified in terms of credibility, fanbase, high returns with minimal risks etc. I am trying my best to analyze altcoin projects but the results are not pleasant. What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.                                                                                                        

Trustworthy to deal with? Well it should be depend on the team, their product or services and their market exposure.
I guess, in dealing with crypto you should not get too attached to it especially if you are a trader because you are too focus with the price trend and not with the fundamentals. You can just see this at the top coins but of course there is always risk and you cannot avoid this even if you trusted that project so always look at the reality and see its current trend to know if you are going to buy or not.

[RealMalatesta]

Bitcoin is the King of cryptocurrency and most altcoins are way less qualified in terms of credibility, fanbase, high returns with minimal risks etc. I am trying my best to analyze altcoin projects but the results are not pleasant. What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.                                                                          

Altcoins and their future are still a wild guess. STOs or regulated and audited projects were thought to be less risky but these low risk low profit projects too failed miserably. Something as stupid as Shiba Inu that airdropped more than 50% of it's the than supply to vitalik buterin (single person unrelated to the project) got unprecedented success, survived through multiple pumps and dumps and still going strong as a popular altcoin makes me believe there are almost zero logic on altcoins future prediction. The only thing that depends on the long run is how active the project manager or volunteers are on the development and progress.

I think the reason why they are "wild" guess is that we do not have enough data about them most of the time. Usually it is from people we don't know (even if they are not anonymous, we don't know them) and we don't know if they are capable of doing it, or will they scam, even if not scam maybe just fail etc etc.

There are too many things that are unknown about most projects and that is why we do not have any clue what is going to happen. This is even worse for new ones, because older ones at least showed something, new ones didn't had time for that neither. So all in all, this is definitely something that I can't agree with and that is why it is a lot more important.

[Xal0lex]

Bitcoin is the King of cryptocurrency and most altcoins are way less qualified in terms of credibility, fanbase, high returns with minimal risks etc. I am trying my best to analyze altcoin projects but the results are not pleasant. What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.                                                                                                        

Trustworthy altcoins have their own blockchain and constant demand for the blockchain space, and mainnet constantly uses that altcoin. These are the kinds of altcoins that are most trustworthy. They have a product, they have utility and they have tremendous support among users, developers and miners. The other altcoins are not trustworthy, at least not enough to keep such coins in your wallet for several years.

[Marcellin9]

Bitcoin is the King of cryptocurrency and most altcoins are way less qualified in terms of credibility, fanbase, high returns with minimal risks etc. I am trying my best to analyze altcoin projects but the results are not pleasant. What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.                                                                                                         

Trustworthy to deal with? Well it should be depend on the team, their product or services and their market exposure.
I guess, in dealing with crypto you should not get too attached to it especially if you are a trader because you are too focus with the price trend and not with the fundamentals. You can just see this at the top coins but of course there is always risk and you cannot avoid this even if you trusted that project so always look at the reality and see its current trend to know if you are going to buy or not.

Appreciate your point of view as more of a trader. A great dev team, a solid product, readily available services and market exposure are the essentials to make an altcoin trustworthy and successful but they are not enough if we act as a trader. I like your attitude that we should not get too attached to altcoin or anything in general because this helps with our own benefits and life in general. Always knowing when to get in and out is crucially important to everyone.

[Thomas Kralow]

The most simple thing to know if the project are reliable and trustworthy is depends on the protocol, it must be decentralized and able to trade without centralized exchange.

Decentralized make your coin can't get frozen, controlled and manipulated since you don't have to trust anyone including the CEO. It will be different if the coin is centralized, you must trust the CEO and hope he wouldn't rug pull his own project.

Government always tightening their rules and it's need KYC to trade in centralized exchange, the worst thing is the exchange can freeze your account and confiscate your funds. If you trade on decentralized exchange or non custodial P2P platform, your coin will be 100% safe.

But you need to know 99% coins are centralized, only 1% or less are 100% decentralized.

A project with a decentralized protocol is truly not controlled by others. You have complete autonomy, but the project party does not know where to go, and the tokens of this agreement are meaningless. There is no value left. It is the most reliable if you want Satoshi Nakamoto to create Bitcoin. There is only one reason, everyone's consensus is indestructible.

[Thuy Anh]

Let's see what this project can bring us besides making money. Sometimes I invest by looking at time and price trends. I think the most important thing for everyone in the encryption market is to make money. It is really important to choose a good project. Don't just look at what the MLM says is so good. Be sure to do detailed research before investing.

[Apocollapse]

But, I have seen many project with zero pre-mine and following all other decentralized rules got failed as well. In my understanding, being decentralized got nothing to do with your investment.

There are a lot fake decentralized and less decentralized project, that's make the coin is useless and not successful, also they're not open source and not giving a way to verify their protocol. Monero is the best altcoin until now, it's another project which is has a purpose for privacy and decentralized. As you can see there are a lot privacy coins comes up, but they're offer less privacy unlike Monero.

A project with a decentralized protocol is truly not controlled by others. You have complete autonomy, but the project party does not know where to go, and the tokens of this agreement are meaningless. There is no value left. It is the most reliable if you want Satoshi Nakamoto to create Bitcoin. There is only one reason, everyone's consensus is indestructible.

It means, there's no need to create new coins if Bitcoin is still become the best crypto in terms of decentralization. I don't see any reason why people keep creating new coins except the sole purpose is to make money.

[Maximo Spohn]

Strong technical support, professional team. Pay more attention to details, I am a very detail-oriented person. I will look at their transactions, as well as various enthusiasm. I think a good project popularity is very important. And you must have a sufficient fan base before your project can be maintained normally. Any investment is risky. Most people will not be "first person". So fan base is very important.

[Pierre 2]

When I try to pick reliable and trustworthy altcoin I first check official website to read Whitepaper. Whitepaper can give fruitful information and also whitepaper shows if project is serious or not in my opinion. After that I check allocation of altcoin. I mean how its gonna be mined or how many altcoins are reserved/secured for developers. In short I look for legitimacy. If its legit altcoin I may invest in good exchanges.

[Silberman]

When I try to pick reliable and trustworthy altcoin I first check official website to read Whitepaper. Whitepaper can give fruitful information and also whitepaper shows if project is serious or not in my opinion. After that I check allocation of altcoin. I mean how its gonna be mined or how many altcoins are reserved/secured for developers. In short I look for legitimacy. If its legit altcoin I may invest in good exchanges.

Back in the day when I took the time to look for altcoins with good potential, instead of going straight to reading their white paper or anything like that I first looked for signs the coin was a scam, things like their website or white paper being copy and pasted, fake profiles, no profiles for the developers, impossible road map, impossible promises or a centralized coin was more than enough for me to discard the altcoin, and unfortunately this eliminated the majority of the coins on the market as many presented several of those warning signs.

[GreatArkansas]

What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.                
(.....)                                                   

It's already difficult now because even if you say "Market cap is the basis" there are still lot of altcoins that even how their market cap is high, at the end of the day there are still issues from them or some of them turned into scams.
For altcoin, I really don't trust altcoins these days besides Ethereum, Ethereum is still here since day 1 and Ethereum maintained it's top 2 as the highest market cap.
For me, what altcoins make really trustworthy is market cap + total value locked, especially on Ethereum's Defi platforms, there is a lot of money running on Ethereum, and most are on DeFi platforms and NFTs.

[Jackl87]

Bitcoin is the King of cryptocurrency and most altcoins are way less qualified in terms of credibility, fanbase, high returns with minimal risks etc. I am trying my best to analyze altcoin projects but the results are not pleasant. What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.                                                                                                        

First of all i don't think that Bitcoin is really the king in all of those parameters that you have listed. I mean in terms of the fanbase size and the lowest risk that is probably true but i am not so sure about credibility and high returns. First of all the founder of Bitcoin is still not known to this day, so that there are more credible altcoins out there with big and public teams behind them.
In terms of possible high returns i would also say that most of the big altcoins have a higher potential to grow than Bitcoin itself. The reason for that is quite simple. Bitcoin already has made  x20000 or even more for very early investors. So to do another x10 or even a x100 from here on would be a huge increase in marketcap.

[Natalim]

Bitcoin is the King of cryptocurrency and most altcoins are way less qualified in terms of credibility, fanbase, high returns with minimal risks etc. I am trying my best to analyze altcoin projects but the results are not pleasant. What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.                                                                                                        

If we ask how? We have to put those things to the project developers. Maybe having strict crypto regulations could somewhat help to improve the credibility of the incoming projects but this won't give us assurance to have a safe investment. That is why I don't encourage people to invest in new projects for they have been known as scams and worthless projects. In fact, we already have Bitcoin and ETH, and we know their profitability, so I think we don't need to look for another project if we know that we can't find legit and trusted coins.

[KingsDen]

Bitcoin is the King of cryptocurrency and most altcoins are way less qualified in terms of credibility, fanbase, high returns with minimal risks etc. I am trying my best to analyze altcoin projects but the results are not pleasant. What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.                                                                                                        

Alcoins are not trustworthy and infact nothing is trustworthy. But if you are asking how to know a project that is worthy to be invested in. Try to read their whitepaper or road map and if it interests you, try to know if they are following what is in the road map and then if yes, you may join the team.
Don't forget to know the group of developers behind the project, if they are sincere and ready to work. Not involving in pumping and dumping of the project

[tvplus006]

...What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.                                                                                                        

You can follow 3 rules formulated by SEC Chair Gary Gensler to define scam:
"(1) the crypto project can’t provide clear documentation regarding how it works or how it plans to delivers on its goals; (2) the project can’t demonstrate that it's in regulatory compliance; and (3) the project can’t easily explain what it is at all" - https://sports.yahoo.com/sec-chair-gary-gensler-says-224932712.html

[Strongkored]

Bitcoin is the King of cryptocurrency and most altcoins are way less qualified in terms of credibility, fanbase, high returns with minimal risks etc. I am trying my best to analyze altcoin projects but the results are not pleasant. What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.                                                                                                        

I almost want to say nothing even when the project itself is developed by developers who are said to be trusted they can still end badly, why because altcoins are always centralized where developers have a large portion of ownership and this is one of the opportunities for them to run away from the project after selling all the coins it has, so it's hard to be able to trust which altcoins can be trusted because the online world is a difficult place to find people who can be trusted.

[Kelvinid]

Bitcoin is the King of cryptocurrency and most altcoins are way less qualified in terms of credibility, fanbase, high returns with minimal risks etc. I am trying my best to analyze altcoin projects but the results are not pleasant. What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.                                                                                                        

I hope we could be a part of the making of the project and let us speak or assess their projects before launching so we can assure that it can be trusted. But unfortunately, it was not like that, they have their own agenda and the credibility of the said projects certainly lies in the hands of the developers. We wanted to change how it works but that seems impossible. It is just to say that the only thing we can do for now in order to avoid investing in scam projects is to stay away from hyped projects and those who have no working products.

[passwordnow]

Bitcoin is the King of cryptocurrency and most altcoins are way less qualified in terms of credibility, fanbase, high returns with minimal risks etc. I am trying my best to analyze altcoin projects but the results are not pleasant. What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.                                                                                            

It plays to the point that the developers are trustworthy and it's just all about them first and then the project that they're working with. If those deliverables and proposals are achievable and factual.
And going to the project, one of the most important thing with it is about the use case. If no use case then that only means that the developers aren't serious with what they're working with because that's what a project's token should be. There has to be a use on it.

[judeafante]

Bitcoin is the King of cryptocurrency and most altcoins are way less qualified in terms of credibility, fanbase, high returns with minimal risks etc. I am trying my best to analyze altcoin projects but the results are not pleasant. What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.                                                                                                        

There are many things to look at, do they have a unique utility, is the platform not a copy from other platforms including the whitepaper, do they have a real team with real skill and capability, are they willing to do AMA, it's not enough that they have a compelling description of their project, scammers are good in creating hype on their project.
The real project does not hype its project, they want steady growth and they want a stable and strong community that is willing to support them until they launch its platform.

[danherbias07]

Bitcoin is the King of cryptocurrency and most altcoins are way less qualified in terms of credibility, fanbase, high returns with minimal risks etc. I am trying my best to analyze altcoin projects but the results are not pleasant. What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.                                                                                                        

Always research the team behind it first. That's the best you could do to check whether they will continue their project or not. Someone who has a reputation for whatever service they are providing.
An example would be Gala Games which has the head of EA Sports gaming development.
They are focusing on games so it would be best to have someone like him in their midst. Connect the dots. It's not like a gaming developer would be in a project in an exchange service or other non-related to it.
I think that's one of the most important parts of examining the legitimacy of a certain project. The rest will follow. I've already experienced a lot of rug pulls on the NFT days, and that's because of not checking that side of the project. Joined the hype and it's a failure.