💡Tips for choosing perspective crypto to invest in.
How to choose a token for buying and don’t regret it in a near future — here are some tips from MMPro team.
A token and a project it represents should have functional use and help to deal with real problems crypto users face. The more functions the token has the higher its price will be as the project grows.
Who are these guys that created and launched the project, what background do they have and which positions did they hold earlier. Developers, CEO, and CMO — all can both develop and block development. A good team is a must-have for advanced tokens.
GitHub is your best friend to analyze and follow a project’s code and see whether there is an evolution or the project is still in one place for a long time without any updates. If a project has no GitHub page then you can try to analyze a smart contract by yourself. That sounds quite difficult so just find a public audit made by a well-known company, e.g. Certik.
Pay attention to the token’s general supply, the amount in circulation, the number of locked and unlocked tokens and how it affects the token price, and the size of the market cap. The supply determines the token’s price and its growth as with the small supply the token’s price grows rather faster than with the big one.
The token distribution is the other metric to pay attention to. How many tokens are held by the team and advisors and what is the lock period? If the most part of the tokens are in the team’s and advisors’ wallets there won’t be rapid growth.
➡️ Current trading situation
Check whether a token is really liquid. For this analyze exchanges and trading volume and the number of transactions on this token by using CoinMarketCap or CoinGecko statistics. If the token trades on CEX it’s a positive sign, if it trades only on DEX be more careful. In case you bought a shit coin you won’t be able to sell it so liquidity shows your future perspective.
🔎 And what do you pay attention to when buying cryptos?