Hello Project HOPE friends, I hope you have a great weekend. We are about to finish a quick week. I would like to share with everyone something I think in relation to choosing a crypto project as an investment. There are thousands of these, so I think it is necessary to discuss what characteristics to consider in order to know whether or not it could be a good option to invest in it.
I must note that what I will share below are personal thoughts, and in no way imply a suggestion or recommendation to invest. These are personal points of view, and I could be wrong, if so, and you don't agree with what I say below, I would like to know. After this, let's get started.
This is why in the world of cryptocurrencies, to evaluate a project, one of the most basic things is trust. And we have to look for some specific characteristics that give us the security that we are engaging in a reliable project with long-term potential. I will mention some qualities that a crypto project must have to be considered trustworthy, at least for me:
Transparency: A reliable crypto project must be transparent in all its aspects. This includes disclosing information about your team, your goals, your technology, and your business model.
Security: This is another essential quality in a reliable crypto project. In the case of Steemit, I think that our funds are safe, due to the level of security of the wallet.
Experienced team: A solid and experienced team is essential for the credibility of a crypto project. For this reason, if we have a project where the team behind it is completely unknown, I think it will not give us the confidence to invest.
Adoption and community: A trustworthy crypto project must have a real use case and an active user base. The latter is more than necessary. Particularly, based on this premise, I have just made an investment in the Ronin network, I share here a video where I explain in detail what I did.
These are characteristics that I think are important. I am not mentioning technical details of the project, I must emphasize, but rather they are things that we can easily see, without needing great technical knowledge. I would like to know if you have anything else to add. I read them in the comments.
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You've done justice as the points you mentioned are the invaluable ones I do consider before making a decision, this has landed me on the Trade Smarter exchange having met the criteria.
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