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Author Topic: What makes a crypto project reliable and trustworthy ?  (Read 1290 times)
Yatsan
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February 03, 2023, 06:14:14 PM
Last edit: February 03, 2023, 09:28:12 PM by Yatsan
 #41

Support I guess. The extent of how a project  address problems is what would make it trustworthy. Loopholes and flaws of a project is clearly normal. There will always be a room for improvement IF the project itself would initiate to do so. But if a project would choose image over existing issues, that would be the time, for me, to doubt their progress on a long run. Many projects could offer huge rewards and other promises but if it would not compensate overall progress of the platform or project in the making, then that would be a bad thing which could push away the interest of meticulous investors in this industry.

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February 03, 2023, 06:36:30 PM
 #42

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.
Not all projects with a great team can continue. I already saw a couple of it who fail but I am not saying that we shouldn't follow this method anymore. This was still better than not doing a research at all and even those legit projects fail in the future, at least we already earn a decent income with them from the start and on the middle of their run.

A collapsing project can still be safely abandoned as long as one is vigilant with his investments. This is something that is not possible if you invest in a scam project because before you make a move, they are already gone. That's because they ensure that they are the ones who can only earn.

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February 03, 2023, 07:06:46 PM
 #43

There are many factors such as the project team, the project concept, partners, support and the plans they proposed to the public. From all of these factors, I weigh project partners the heaviest. Those partners are not easy to get especially those big ones who are already established and has a reputation to offer. Those partners surely did their homework researching about the team background and project future projection before they join as partners. So most of the time all you need to do is to do a basic research about the project. Though not all of it is running successful even those high caliber partnership tend to fail. It will make it easy for you to filter out those shtty project than those who has potential that's why I value team with high caliber partnerships.
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February 03, 2023, 08:09:47 PM
 #44

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 see the other members have mentioned many factors. I want to add an important point I used to follow before I decide whether I will invest in a project or not, which is the development activity. This important factor can show if the developers are serious about developing what they intend to achieve, or just want to ride the hype wave to sell their coin to the crowd. Now, as we are in a bear market, this factor can really determine the seriousness of a project.

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February 03, 2023, 08:49:47 PM
 #45

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.                                                                                                        
Probably have some criteria to consider if the altcoin is trustworthy or not. But, the problem is even if the altcoins meet the criteria, it doesn't guarantee that they re really trustworthy. Because sometimes, there will be any FUD about them and it will cause them to crash easily in a very short time. I ever trusted top coins, but what happened to Luna and FTX especially really broke the trust and consider that altcoins always give high risks whatever the coin. Even if it is BNB or Ethereum, they also still have a higher risk than Bitcoin. That is why, if choosing altcoin for investment, I will not be using it for a long-term period because of the high risk. This will be for the short term with certain conditions that I must always consider.

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February 03, 2023, 10:21:01 PM
 #46

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.                                                                                                        

Trick question, pretty much none of them are once ypu break them all down.  Once something gets too big there is a sense of scam in the air.  Greed makes people do wierd things.  What I mean is that projects can start with good intentions, but if they are really that good and become big the money will alter the project inherently. 

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February 03, 2023, 11:08:39 PM
 #47

the team itself I guess, you could always check history of the team and decide, also their tokenomics also just as important because it could decides whether this project has potential or not because honestly coins with shitty tokenomics will always doomed to fail, no one gonna invest knowing the tokenomics engineered to be fruitful for the team and leaves no room for investments and that will be holding its value from growing.
but I'd say finding out the team behind the project is always essential.

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February 03, 2023, 11:11:11 PM
 #48

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.                                                                                                        

As of today, only a few altcoins are considered to be reliable and trustworthy.  The factor that makes a project reliable and trustworthy is its decentralization and at the same time the time, it had proven that it won't scam its holders.  The integrity of the team is also one huge factor but when a new project is created the project developer needs to prove how reliable and trustworthy their project is.

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February 03, 2023, 11:56:48 PM
 #49

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.                                                                                                        
Nothing beats out Bitcoin into its place and its understandable on why its been sitting on the top of the chain.Speaking about top altcoins then you could consider them to be trustworthy and credible.

They wont be sitting behind or below bitcoin for no reason.You might be having some bad results into altcoins but pretty sure that you are might be able to deal with those hyped and shilled out ones
or really touching up those low caps? Am i right?.

What makes me that confident on investing on altcoins projects is that i do see their real use case or utility plus having those updates and following up their roadmaps.

R


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February 04, 2023, 09:08:46 AM
 #50

Bitcoin is the King of cryptocurrency
King of cryptocurrency? Where does that come from?
You mean Bitcoin is the "King" and whenever there's a king, there's also a queen so who is the queen of cryptocurrency? Funny logic of yours saying Bitcoin is like a "King". Bitcoin is Bitcoin that's all. No king or prince or whatever you want to call to it. Bitcoin is just at the top cryptocurrency in terms of market cap that's all.

What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.                                                                                                        
The team? Community? The use-case of it?
We've seen it all. We've seen a team of a particular project that is very, very good, but their project ended up either as a scam project or a dead project. We've seen a project with a huge community that ended up as a dead project. We've also seen new projects that has a good use-case and very helpful to the people, but ended up as a scam.

In short, there are no trustworthy and reliable projects right now especially in altcoins. I want to say those top market cap coins are more trustworthy, but even those altcoins are ending up as a scam. FTX, Luna, Bitconnect in the past, Centra and many more that are now gone because they are a scam projects. Right now, it's Bitcoin that I can consider as a trustworthy and reliable, but altcoins? Even those at the top aren't trustworthy and reliable to me. It's kind of ironic that I'm saying it where in fact, I'm also holding some altcoins. Cheesy

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February 04, 2023, 01:52:23 PM
 #51

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.
To be fair, we do not know everyone in the crypto world, which means that the team could be people who are amazing at what they do or could be people who have no idea about it and we would still not have any clue why and how it would do good.

This is mainly because if someone tells you "X person is leading the team", if you do not know that X person, then you have no idea if the team is any good or not, you could look at their linkedin and hope that it says something, but it rarely does because even if you worked at the best places, you could be a moron as well, I have seen plenty of moron Google workers too, doesn't mean they will be smart, there is a reason why they no longer work there.

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February 04, 2023, 02:38:32 PM
 #52

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.                                                                                                        

As of today, only a few altcoins are considered to be reliable and trustworthy.  The factor that makes a project reliable and trustworthy is its decentralization and at the same time the time, it had proven that it won't scam its holders.  The integrity of the team is also one huge factor but when a new project is created the project developer needs to prove how reliable and trustworthy their project is.
Not all because I can see that some projects are run by good developers and a strong team like Tera Luna but in the long run, it turns scam.
The only thing I can see that I project is trustworthy is when it possesses a long-term plan as in this way they already have the things to do. Because a project will survive if they have a concrete plan and if they look for the welfare of everyone, not just for the company itself.
It was very unfortunate that most of the new projects today have been governed by greed, which is why they will never stay long in the market but collapse.


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February 04, 2023, 03:53:49 PM
 #53

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.                                                                                                        

As of today, only a few altcoins are considered to be reliable and trustworthy.  The factor that makes a project reliable and trustworthy is its decentralization and at the same time the time, it had proven that it won't scam its holders.  The integrity of the team is also one huge factor but when a new project is created the project developer needs to prove how reliable and trustworthy their project is.
Not all because I can see that some projects are run by good developers and a strong team like Tera Luna but in the long run, it turns scam.
The only thing I can see that I project is trustworthy is when it possesses a long-term plan as in this way they already have the things to do. Because a project will survive if they have a concrete plan and if they look for the welfare of everyone, not just for the company itself.
It was very unfortunate that most of the new projects today have been governed by greed, which is why they will never stay long in the market but collapse.

Tera Luna has failed due to mismanagement so we can't say that their developers are reliable. Nowadays, only well-established projects are reliable. Coins that have gone through different market situations and deal with all types of seasons.
I must say that top coins are better to trust. They have good developers and their innovation is continuous. Coins with a good foundation are better to rely on. Those with a concrete plan and strong foundation could stand firm and will always gain the trust of their users.
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February 04, 2023, 11:50:29 PM
 #54

What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.
                                                                                                   
Yess. i think those are the important factors that create investment confidence whether short-term or long-term.  I think that's one more thing about the product - it has to have a structure that can grow, change, optimize continuously, the free market decides the use of the product, no one will use the platform of the product.  product, protocol that nothing attractive, good for them.  In my opinion, ETNY is a viable project in terms of reliability, it is very new but it is not an investment incentive

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February 06, 2023, 07:30:50 PM
 #55

Tera Luna has failed due to mismanagement so we can't say that their developers are reliable. Nowadays, only well-established projects are reliable. Coins that have gone through different market situations and deal with all types of seasons.
I must say that top coins are better to trust. They have good developers and their innovation is continuous. Coins with a good foundation are better to rely on. Those with a concrete plan and strong foundation could stand firm and will always gain the trust of their users.
What you are saying is true but at the same time was not Luna one of the coins in which the community had its trust and it failed dramatically? So in my opinion even if we trust a coin we must never let that trust blind us, if we see anything wrong with it then we need to get out of it as soon as we can as a way to protect ourselves and our capital, because as we have seen with Luna and many other coins before if you get caught when the project fails you will lose everything without any opportunity of ever getting it back.
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February 07, 2023, 07:44:52 AM
 #56

Bitcoin is the King of cryptocurrency
King of cryptocurrency? Where does that come from?
You mean Bitcoin is the "King" and whenever there's a king, there's also a queen so who is the queen of cryptocurrency? Funny logic of yours saying Bitcoin is like a "King". Bitcoin is Bitcoin that's all. No king or prince or whatever you want to call to it. Bitcoin is just at the top cryptocurrency in terms of market cap that's all.

What makes an altcoin really trustworthy ? And why ? Please let me know your opinions.                                                                                                        
The team? Community? The use-case of it?
We've seen it all. We've seen a team of a particular project that is very, very good, but their project ended up either as a scam project or a dead project. We've seen a project with a huge community that ended up as a dead project. We've also seen new projects that has a good use-case and very helpful to the people, but ended up as a scam.

In short, there are no trustworthy and reliable projects right now especially in altcoins. I want to say those top market cap coins are more trustworthy, but even those altcoins are ending up as a scam. FTX, Luna, Bitconnect in the past, Centra and many more that are now gone because they are a scam projects. Right now, it's Bitcoin that I can consider as a trustworthy and reliable, but altcoins? Even those at the top aren't trustworthy and reliable to me. It's kind of ironic that I'm saying it where in fact, I'm also holding some altcoins. Cheesy

Well, a promising team, commnuity and utility are not guarantees to the reliability of any crypto project but there is a higher probability to sucess if any project owns these characteristics. You said you are still holding some altcoins now even though you had all these doubts in the beginning. Why ? Because back then, once you made up your mind to invest in altcoins, all things you had to refer to were just the Whitepaper, dev team or some use case that project may apply to. Based on what you saw and believe, you finally made the decision to invest. See my point here ? The whole process was natural and flawless and we can not deny this. Unfortunately most crypto projects failed eventually because somewhere in the process, something went wrong and nobody realized this. My question might need some correction that even a seemingly reliable and trustworthy project does not guarantee any positive outcome eventually.
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February 07, 2023, 08:19:35 AM
 #57

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 their developers came from a known social media site like Telegram or Meta, that would be their one ticket to be legit, and they surely not gonna scam people with their names on the line. That's why when Telegram announce it will gonna sell its own altcoin, it almost sold out not too long ago but the SEC hunts them before they can even make a move. This is one of the ways to know if altcoins are reliable because some of those altcoins that came from unanimous developers often became shit coins in months and became a pump-and-dump scam.

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February 07, 2023, 09:14:33 AM
 #58

Many factors determine the value and reliability of an altcoin project. Starting from quality, team, community, goals, roadmap, functions, development, and many more values to determine whether an altcoin is good or not. You can do your own research on that.

However, when you get all of that, and you find an altcoin that fits your criteria, it's not necessarily a great result. we know that competition from new altcoins is fierce. sometimes new altcoins function worse than existing altcoins. when the altcoin doesn't really appeal to investors, then you can be sure that you might end up with unsatisfactory results. maybe you get a very cheap price for the altcoin price, or the project is abandoned. However, research is carried out continuously, and gradually. so you can know the potential that can happen to the altcoin in the near future. You know, many new projects from altcoins initially gave great trust, but due to some problems, they sometimes leave the project.

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February 07, 2023, 10:09:34 AM
 #59

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.                                                                                                        

To trust in a project must have solid Fundamentals that's for sure, but when it comes to crypto projects to be trusted is because it has a team, developers and future use cases that's clear. Apart from that, it is also important to see that crypto has many exchanges or is available on many markets. I think like that

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February 07, 2023, 12:25:47 PM
Last edit: February 12, 2023, 12:14:05 PM by @sriyan
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 #60

Every day there are huge projects that get into th forum, but the problem is only 10 percent of that projects are real and trusted ones. Mostly we should follow the old trader's advice regarding background checks. We should use some time to check the full background check of each owner and worker involved in the project. The real project will be connected with the real profile and real people.

The remaining scam project uses profiles from other social media. They used Facebook, and Twitter to get the profile of foreigners and accused them as the real owners of the project. It should be captured only by the way of finding a fake profile engaged in the project scam. Then you can save your money to get into the scam project and use the money for a trusted project like bitcoin, Ethereum, ADA, and SOL. Always remember that bitcoin is the king of the crypto market.

First, you have to read the whitepaper of the crypto project. Then you can do the fundamental analysis for the project. After that, you will get an idea about the project's long time value. The next point is you have to do the on-chain and off-chain analysis for the project.  Then you will get an idea about all the on-chain volumes and transactions.

1. Do the fundamental Analysis
2. Do the on-chain Analysis
3. Do the off-chain Analysis.


If the above analysis is completed, then you can do the technical analysis as well.
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