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How to Evaluate a Cryptocurrency

cryptocurrency evaluationhas been gaining a lot of attention recently. There are many ways to obtain crypto exposure, including by investing directly in coins on centralized and decentralized exchanges, through derivative instruments like swaps and futures, and via stocks that are investing in blockchain technology.<br><br>Web: https://justpaste.it/968uo

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How to Evaluate a Cryptocurrency

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  1. Project Vision When evaluating a crypto project, it’s important to ensure that it has a strong and achievable vision. In crypto, there's such a thing as "vaporware," which often refers to projects with all the bells and whistles — but are unlikely to get off the ground. When evaluating a crypto project, be wary of those that seem too cool and promise too much without having a solid plan or foundation to back it up. Visionaries in the industry come up with many groundbreaking project ideas, but only a few are ever feasible or practical enough to be implemented. STEP 01 Project Website STEP 02 There is no excuse for a poorly developed website. Today it is very easy and relatively inexpensive to develop a clean and functional website. The project website should be well put together, functional and openly share details about the project, the people behind it, the roadmap and the investors (if applicable). STEP 03 The Team (developers, executives) When assessing the team, determine the prior experience in the market and prior projects. Is this their first project or do they have a solid history developing successful projects in this market? Steps to EVALUATE CRYPTOCURRENCY W W W . M O N E T A - F X . C O M The Road Map A solid project will have a strong and well-defined vision with a roadmap and dates attached providing details for the development at each stage. It goes without saying, without a clear vision and roadmap, the future success of the project is in doubt. STEP 04 STEP 05 Investors Does the project already have investors and if so, who are they? Projects which have already been invested in by well-known investment firms are an excellent sign. These firms often specialize in specific niche markets and if they have already invested, chances are they have also done their due diligence and believe in the project. STEP 06 Understand the Utility & Use Case For the long-term viability of a project, it needs to have a well- defined and clear use case. Does the project solve an important problem? If you are looking to invest in this project for the long term, then the answer needs to be a definitive YES.

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