How To Choose The Right Crypto Or NFT Project

How To Choose The Right Crypto Project

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Before investing in any of the projects, you should use DYOR (do your own research), which means “do your own analysis or investigation”, and you can’t do without it.

Only after you have independently and carefully analysed the project, then you can put your money in it. If you rely on what someone there said/advised/decided and you go in yourself, then soon your money will be lost.

In order to prevent “loss”, pay attention to the following points:

  • What is the purpose of the project, how does it earn money and what does it sell? If you see that such a project sells “air”, you don’t understand where it gets money from at all, then even at the first stage of the analysis you need to see the red flags… Any project must have a real application, it must be useful, and also solve a problem that was not made up/invented.
  • Project team. Who created, develops, who is behind the project? What is past experience? Were there any failures? If so, how did they act and what did they do? Be sure to monitor their social networks, usually there you can find useful and new information (in general, this is a separate point of analysis).
  • Marketing and community – strategy and activity around the project. All details.
  • Funds, partners, investors. Who has already invested and entered the project? For what amounts? Are these TOP funds or “no names”?

This is very brief and simple steps to look for in the project. You will be surprised how many people don’t even take the time to do this basic steps. More than 90% of people jump into things on FOMO or just what they heard from mates or on Twitter.

Do those steps and you will be one of the most informed and successful investors into crypto projects.

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