sam.cipherFull Member
Posts: 46 · Reputation: 376
#1Sep 22, 2023, 12:16 AM
A lot of folks don’t really know how to dig into a crypto project. They just follow some random influencer and end up losing cash by trusting their tips. But what if I said you could do your own research and actually make smarter choices than that influencer? You can break it down and look into a project step by step. The goal here isn't just to find the next big thing but to steer clear of bad projects and boost your chances of success.
Step 1. Pick a project to research. Don’t just randomly choose one. Focus on a narrative like Layer 1/Layer 2, AI and crypto, DeFi infrastructure, Real World Assets, Gaming, or Decentralized Physical Infrastructure Networks. Look for projects that have backing from top VCs.
Step 2. Figure out what problem the project addresses. A solid project should tackle a real issue. Ask yourself what problem this project is solving and whether it truly needs blockchain. Stay away from ones with no clear use cases.
Step 3. Go through the project whitepaper; it’s super important. You want to check out the problem statement, solution overview, token utility, and roadmap. If there’s no whitepaper, or it’s filled with random jargon, that’s a huge red flag. Many projects don’t stick to their own roadmap, so it’s a good idea to skip those.
Step 4. Look into the team behind the project. A great team can outperform a good idea. Check out the founders' LinkedIn, X, and GitHub profiles, and see if they have previous experience in tech, crypto, or startups. If the team has fake profiles or lacks technical expertise, that’s a sign to stay away.