The future of cryptocurrencies seems bright sometimes and sometimes very shady. This is because of scams, instability and bad headlines. Due to which a major part of the population is maintaining a distance from it.
Whether people are investing in cryptocurrencies or not, most of them have a common question “How do they choose which crypto they should invest in?”
You need to invest in a reliable and profitable cryptocurrency to get a good return on your investment. In this article, we are trying to show you how to check the authenticity of a crypto project (cryptocurrency) and evaluate whether investing in them is profitable or not.
How to Evaluate a Cryptocurrency for Investment Purposes?
Evaluating a good cryptocurrency to invest in can be difficult. There are various factors that need to be checked in a cryptocurrency before making an investment decision.
Need to be Innovative
If the technology behind a token doesn't solve a problem or improve an existing one, it won't stand the test of time. Additionally, the cryptocurrency should have some value attached to it and a roadmap that outlines the scope and phases.
Team
After all, all cryptocurrency projects are run by people, some smart people. Thus while researching a coin, look for an experienced team of creative, disruptive and skilled experts. Normally people think that they can create a cryptocoin or token without having any blockchain experience, but we all know that hard work without proper knowledge can be easily wasted.
Tokenomics
Tokenomics is like cryptocurrency economics. While researching a coin, you should always checkout ; the total supply of coins, the current circulating supply, does it have a deflation mechanism, does the project have a long-term roadmap as it develops over time, and more. These details should also be present on the official website and other exchange platforms where the coins are listed.
Documentation
Since there is no government control over cryptocurrencies, the companies introducing them are not required to do much legally. However, there are some basic requirements that a project and the company behind it need to meet. Firstly, it is necessary for a coin/project to have a detailed whitepaper in which even the tiniest detail about the project should be properly engraved. Additionally, the project should have a Website, Pitchdeck, Blogs, and Light Paper to analyze everything about the project and token.
Contact Details
Some provide proper contact or communication details on the project website or documentation, others avoid it. Generally, contact details increase confidence in the project and also reassure investors that there is a way to communicate if something goes wrong.
Other’s Opinions
Somebody must have walked the path you are trying to walk, so join forums, social media platforms, and follow these projects. Other users will share their views and opinions and they can provide more insight. Sometimes forum threads are enough to develop the authenticity and profitability of the project.
These six factors will help you to choose a cryptocurrency for investment purposes. However, if you are looking for a reliable project to invest in then panKUKU is here. It is the biggest DEX project with a long list of products.
The good news is that KUKU token has been successfully listed on some of the most popular exchange platforms which include CoinStore, CoinsBit, Latoken, Azbit, Dex-Trade, Tokpie, Pancakeswap and Biswap. It gives users more flexibility and reasons to invest in the KUKU token.
The project meets all the above mentioned requirements and it is steadily growing as well. So, visit the website, check all the details and if you find it suitable then invest in it as soon as possible.
- Pancakeswap : https://bit.ly/buykuku
- Azbit : https://azbit.com/exchange/KUKU_USDT
- Tokpie : https://tokpie.com/view_exchange/kuku-usdt/
- LaToken : https://latoken.com/exchange/KUKU_USDT
- panKUKU : https://exchange.pankuku.net/#/swap
Top comments (0)