I am going through CoinGecko to hunt for ultra-low caps new tokens to invest in today.
My strategy is to pretend that I am an angel investor, investing in new projects early, and see if they yield big, Yes, throw in 10 dollars in say 20 projects, and HODL.
It's also a learning process to see what is going on in this space, outside BTC, HIVE and my holdings.
Let me document some observations as I proceed.
This would give some indication of my thought process.
P/S: I am actually feeling like I am marking some student's assignment! :)
White paper
- One with all caps wordings. No go.
- One with a filename that seems ad-hoc. No go.
Team
- Linkedin profile, not too impressive: Top honcho seems weaker than his other colleagues.
- Presents only plain team page with limited info. Nope.
Project scope
- Usual defi, meme, gaming, NFTs projects, debasing projects. No go. Boring.
- Gaming with sufficient novelty, Good potential.
Website
- One asks for email to allow download of whitepaper. Duh!
- Black background seems to give a more professional feel.
- Professional looking website is important
Wallet
- Impressive to have already workable wallet integration.
Investor info
- Give me confidence if I see big names among the investors.
Others
- Inclusion of 'poocoin' somewhere primes me to think that this is a shitcoin.
- Having live social media (e.g., Telegram, Twitter, Discord) with followers helps.
- Having an understandable road map helps.
- Plans to list in CEX helps.
Maybe some shitcoin project will use this to reverse-engineer a convincing web presence. But fear not, the really crappy ones won't even bother with perfecting their site. So they are probably not worth looking further if you see them failing in terms of the list above. This is the minimum standard, so to speak. At least for me.
Bear in mind that some may cover these pointers well and are still crappy projects. That is when we have to think carefully before investing. Afterall, if a rug pull is meant to be, it is hard to prevent once money is invested.
Looking through these new projects are quite entertaining, to be honest.