You know I speak a few times about cryptocurrencies on my blog. For a few days the prices have taken off and we are starting to see a small phase of euphoria.
But beware, cryptocurrency is a dangerous investment. This article is not investment advice. Do your own research.
However I saw fit to offer you a tutorial for unearth a promising cryptocurrency.
What is a promising cryptocurrency?
It is a cryptocurrency that offers a concrete project, the proposed currency is used and allows problems to be solved. There are thousands of projects out there and it is unclear if the project has a solid foundation or if it is a scam.
Over the years cryptocurrencies have also evolved. Initially, Bitcoin was a simple Blockchain, the Smart Contract concept was non-existent.
Ethereum was the first cryptocurrency to offer Smart Contracts, which made it possible to innovate in terms of projects.
Some sites have therefore specialized in find the best projects , I recommend you to read the guide of Investing On the Internet in order to know the basics necessary to analyze projects.
Behind the projects is a real team (developers, marketing professionals, designators).
Everyone brings their skills to create an innovative project make it known and convince investors to bet on their token.
Before making your decision you must consult the official website of the Project, how many are they in the team? Are they legitimate?
You can also watch the activity of the Twitter account to forge an opinion on their ambitions and their way of communicating.
Tokenomics is how the Token is going to be used. What will it be used for? Take the example of $ CAKE (the token of the PancakeSwap platform). The Cake can be used to play a lottery, to make “predictions” but also to create your profile within the platform.
With the advent of decentralized finance and Blockchains like Celo some platforms have sprung up with huge inflation.
Generally the token is created en masse with very high rates of return. The token having no use, it loses its value over the days …
Are there nuggets?
By taking into account the various points above you should be able to quickly identify viable projects in the long term.
So can we consider the Shiba? DogeCoin like nuggets? It’s up to you to judge but it must be recognized that there is no project behind these tokens and that their values have outperformed all other cryptos …
The future of cryptocurrencies
Concerning myself I bet a few coins on the $ Feed which in my opinion has been underrated for a long time. By analyzing the project, the team can draw a picture of what the future holds for this token.
To get them I went directly through Feel-Mining which generally offers solid and innovative projects.
The world of cryptocurrency is very exciting and there are opportunities and new projects every day!
Today we see that there are new uses with NFTs, “Play To Earn” and Metaverse. ”There are bound to be nuggets.
Finally to follow the courses but also to have a centralized platform with many projects, I recommend the site Coingecko