Crypto How Could We Know That A Newly Created Token Has A Good Future?

[Good-Guy]

The first cryptocurrency (Bitcoin) was created in the year 2008 and the world of cryptocurrency have evolved a lot since then, there are many kinds of crypto projects that have been created since then and there are many tokens that came into existence since that time. There are many altcoins that have been created and many projects claim free cloud mining bonuses to members. However, almost 99 percent of them turn into a scam. This is because most of them require you to invest some amount of money in the end they pay "free members" and other investors through the funds that are being deposited by the new investors and this makes these projects a ponzi scheme. This is why I would never ever buy newly created tokens. The main question is: how would we know that a newly created token might have a good future?

 

[Kingstone]

I don't even understand either. The best thing is to follow some news online from many sources like coinsmarketswap. The site usually lists some coins and You can know which one to buy at the moment. The one to pump in the coming few days. I don't know where they normally get these signals from

 

[Nite]

Interesting question. There are thousands of cryptocurrencies in existence, with new tokens entering into the space everyday. It's difficult to predict the future of cryptocurrencies. I say, if you so want to invest in a new token, then invest only what you can afford to lose. Make sure to do a thorough investigation of that token first, and always keep up with the market trends.

 

[Jasmine]

A guy who invested $8000 in shiba inu in 2020 is now a billionaire. THis guy took a huge risk by investing in a meme token. Can we take this kind of risk? If not, we do not profit much from crypto investment. Yiu will have to check coin market cap to see new tokens that have potential.

 

[Good-Guy]

A guy who invested $8000 in shiba inu in 2020 is now a billionaire. THis guy took a huge risk by investing in a meme token. Can we take this kind of risk? If not, we do not profit much from crypto investment. Yiu will have to check coin market cap to see new tokens that have potential.

Exactly! I have read somewhere that a new coin must have a few buyers and some market cap if we need to consider it as a worthy coin, but the main problem with market cap is that any coin can lose market cap at any time when the market crashes and when the coin fails to get more buyers for itself.