Tips to find the next big cryptocurrency initiative and not get cheated

Best Cryptocurrency

The cryptocurrency acceptance rate is at an all-time high and markets are expanding globally. This brings opportunities and weaknesses. El Salvador and other countries are starting to accept bitcoin as legal tender and other countries are seeking to regulate virtual currencies. There is a lot of speculation about the regulation of cryptocurrency because its future vis-à-vis governments is uncertain.

While the prospect of bypassing regulations and higher payments taxes may sound tempting and exciting, there is a lot of uncertainty about the future of some tokens, which can make investment decisions difficult.

We list a set of criteria that can help investors find the next big cryptocurrency project and avoid being scammed by scammers.

What does the project offer to investors?

Before participating in an Initial Coin Offering (ICO) or token sale, spend some time checking out the services or products that your potential investment has to offer. Several sectors such as international remittances, fintech companies, energy management, and supply chain management are home to hundreds of applications of blockchain technology.

Read the project white paper and make an effort to evaluate the real value that the project and technology provide.

Development team background

The development team is a critical component of the project. This is the group of programmers who will finally build the project.

Due to the severe shortage of blockchain experts, investors should identify projects with reputable and knowledgeable development teams.

Identify existing investors

It is crucial to check if the projects have any active private investors or seeds. Leading cryptocurrency venture capital firms include PIF Labs, Binance Labs, and Coinbase Ventures.

Additionally, other non-Web3 companies have begun funding Web3 initiatives. Keep an eye out for reputable investors and you will often discover projects with great potential.

read more Investment Ideas 8 Best Stocks to Buy Right Now (September 2022)

Token value

To locate the next big project, the investor must take into account the current price of the token. For example, the upside was relatively restricted when Bitcoin reached an all-time high of $65,000 in November 2021.

For a new token, entry time and point of purchase are critical. Investors should look for a low-risk, high-reward opportunity.

Social interaction

When buying a coin or NFT (non-fungible token), there is another critical factor to consider when engaging with the community. The vibrant community is a sign of how long the project is. Keep an eye out for the community on the Reddit, Telegram, Discord, and Twitter handles of the project.


Although it can be difficult to locate the next cryptocurrency gem, doing a thorough search and using a systematic strategy can remove the element of guesswork.

read more Best Online Stock Brokers and Trading Platforms for Beginners

Leave a Reply