What makes a crypto project reliable and trustworthy ?

[abel1337]

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.                                                                                                        

no one can be trusted in cryptocurrency, even the creator of Bitcoin until now we don't know, so it's not just altcoin that can't be trusted, it's also Bitcoin, but for now only cryptocurrency can give us a big profits and become rich (including investing in altcoin), but we must not be greedy and forget to take profit, because it will not make us become rich but instead become poor (the price of Bitcoin and altcoin can fall quickly).

So you won't trust the altcoin that you had put your money on? Satoshi haven't revealed himself/themselves because of some reasons and also it proves that the main characteristic of bitcoin which is anonymity is effective. If you don't trust cryptocurrency projects, how did you come up to the point that you invested and spent your money on buying them? This is why we are doing research on investing because it can gauge our trust to the developers, project ideas and the possible market reaction to the project. We all want to be profitable and investing in something needs some trust and a big hope that it rises in value.

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[cute nmp]

A reliable and trustworthy crypto project typically has a competent team, solid technology, a supportive community, transparent operations, and prioritizes security measures to protect user funds and data. Making research and staying updated with project developments are essential when evaluating its reliability.

[deean_3one]

No cryptocurrency assets can be trusted. We must do frequent research to find out real assets (not scams). This can be done by checking the verification of its team members and their backgrounds, project vision, and market evaluation of the resulting tokens. But this does not guarantee us to get a good token.  Because, tokens with a good team can also fail to provide profits.

[Psynthax]

if it's being invested by some big venture capital like binance labs, mysten labs, etc i think they are pretty much reliable and trustworthy, there's no doubt about that.
but aside from that, you can see the reliability by whether the project are having good technicality in their whitepaper I guess.

[JeffBrad12]

There is nothing we can really trust in the crypto world not even the big coins that are on top 10 on cmc. What we can do is only minimize the risk, thats why we need to "DYOR" and the most important criteria for me before i decide to invest in something is the TEAM behind the project, if they have a big reputation then it will be very nice.

This is a risk that we have to accept, the coins that are in the top 10 have a level of trust that can be said to be 90%,
because it's very rare for me to see the top 10 end up being a scam, and yes 10% end up being a scam,
there have been lots of cases in 2017 when that's what I know about BCC, and in 2022 LUNA and FTT.

when it comes to the top ranked coin collapsing, it's always trigger chain effect, that is the collapse accompanied by other coin falling down quite literally losing majority of its value.
but generally as I've seen in the case of luna, it was massively caused by their faulty stablecoin system that make their coin collapse entirely.
the same case couldn't be said for other coin since many of the top ranked coin are just purely smart contract coin without something like what luna has done honestly.
even the pegging system of many stablecoin are entirely different mechanism if compared with luna, i just don't think in the future there will be that many collapses of top ranked coins, many have learned from the case of luna.

[cute nmp]

A reliable and trustworthy crypto project is characterized by transparency, security measures, a strong community and positive reputation, technical competence, compliance with regulations, and practical use cases. Research and caution are also necessary when assessing the credibility of any crypto project.

[houseatreidess]

trustworthy? mate its all on you
you gotta research, i saw a lo of information about neonlink and i am researching
same thing happed when i found monsters, chainlink and other really good projects that made me happy
crypto is a job, here you gotta have your own opinion

[riskarcher]

Each altcoin have capability for fulfill as the future of technology blockchain to make it easy of all transaction on crypto currency and to be part to be leading decentralize of market crypto even bitcoin is the highest asset on crypto but altcoin have potential too due to the purpose to make decentralization reliable and valuable from the perspective of investors, the project must make the latest innovations or trends for the next bullrun, such as web 3 and clear transparency.

[dhruvfire]

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 should solve some purpose. If it is all around hype, it will become useless after some time. So , one should invest only in coins that have some unique features to offer.

[Iadegbola34]

In my opinion, a few key factors contribute to a trustworthy altcoin. First, look at the project's team and their experience in the industry. Transparency and a solid track record matter too. Also, consider the community support and active development. It's important to assess their technology, real-world use cases, and potential partnerships. Remember, thorough research is key.

[adiksau0414]

Based on what happening on trading cryptos, none is trustworthy (as of the volatility of the coins/tokens). But bitcoin is well-known, mostly traders choose bitcoin to trade due to the fact of its value. Eventhough crypto project has its very promising goal and roadmap, the future of it is unknown specially if it is not widely reach its target.

[Coin99Khaled]

You and your brain makes it trustworthy
 
Research and a great team, developers, team, community, product
Check project called NeonLink, go check their roadmap, team, community, partnerships, upcoming releases, upcoming events
You check and research and come up with the decision If this project deserves your attention
You and only you make the decision

[Bolivar_Tony]

while Bitcoin is often considered the dominant cryptocurrency, evaluating the trustworthiness of altcoins involves several factors. A trustworthy altcoin typically exhibits strong fundamentals, such as a solid team, clear use case, active community, and transparent development roadmap. It should also demonstrate adoption potential and provide innovative solutions to real-world problems.

[Jocuserious]

Each altcoins have future planing, development, investors community etc so you look there every service has clear promising then you can trust him for your invest. I taken just 2017 year which was the best crypto hype even where lot of people enjoy profits by investing and holding. Although i never upset for altcoins investment now because i enjoy trade slowly.

[ammo121810]

A reliable and trustworthy crypto project should have a strong foundation that is built on transparency, security and community support. Transparency is important in order to ensure that the project goals, objectives and strategies are clearly communicated to the community. This includes providing regular updates on the projects progress as well as being open about any potential risks or challenges that may arise. Security is also needed for a reliable and trustworthy crypto project. This means implementing strong security as regularly testing and auditing the security measures to ensure they are effective.

[panjay]

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.                                                                                                        

My measurement for a trustworthy project goes like this:

1. Longevity, if some project can survive in 1-3 years and can stand when it's price tanking like 90% and still thrive to make something to adapt, its' good enough

2. Community, the more "cult" like the community the better the alts are, why? because you know they have supporter who will stand their ground when something looks bad.

[Lamkuthang]

A reliable and trustworthy crypto project typically has a competent team, solid technology, a supportive community, transparent operations, and prioritizes security measures to protect user funds and data. Making research and staying updated with project developments are essential when evaluating its reliability.

I think the most important thing, if you want to be safe, look for one that has clear legality and stands firmly within the jurisdiction of a country. Yes. a platform that complies with terms and conditions and is recognized by financial authorities as well, will add credibility to the rating project going forward and gain more public trust.

from another point of view it might be common and like the tone conveyed it might not be much different from what I said where When determining the reliability and trustworthiness of a crypto project there are several factors that in my opinion must be considered such as the strength of a Credible Team, Strong Community and Fund Support, Roadmap is implemented according to plan, and will be adopted by the Real World.

[TheUltraElite]

Each altcoins have future planing, development, investors community etc so you look there every service has clear promising then you can trust him for your invest. I taken just 2017 year which was the best crypto hype even where lot of people enjoy profits by investing and holding. Although i never upset for altcoins investment now because i enjoy trade slowly.

Altcoins usually have them running but many dont and you have to identify this without being euphoria about the future of an altcoin. Many of them show signs that they are dying out or less trustworthy after their launch but people choose to ignore them. This ends up being a vicious cycle where the investor supports every wrong move taken by the project and attempts to justify them. These emotions need to be controlled and the coin sold off even at a loss if unable to sustain.

Not every coin out there is future safe. Only Bitcoin is and therefore we must try to limit these options to be maximally profitable with the minimum diversification inside crypto assets.

[Dessy88]

Why not? If a project has real based products where only investors will get profit then everyone will invest in that project. Moreover, there are many good project followers where they occupy a large share of the crypto market. You can't dump a high quality altcoin even if you want to because they have a high volume of investors.

[|MINER|]

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.                                                                              

Here I will say the first thing, that it is very difficult to gain the trust of a new coin like other Biggest Trusttable coins, in short, it is not possible to do it. But you can look at the background of other coins why they have reached this stage today or gained so much trust for investors to invest. I think a new coin should have a minset first to gain trust, they will keep their project innovating, keeping favours of users in mind. And constantly keeping up with and updating technology.  Match your words and actions.  Sometimes a good marketing strategy or promotion is very important to gain trust.