If you are a crypto investor, then you know how difficult it is to find new crypto coins to invest in.
Why should you invest in a new crypto coin? For less, you can buy more crypto, when it is a newly launched project.
At the same time investing in a new crypto can be tiresome. You need to analyze and go through a lot of factors before you invest in it.
The thing with new cryptos is that there can be many scam ones too, and you need to filter that out.
So you need to be an expert in identifying the new and promising cryptos so that you can invest in them before many others do.
How to Find New and Promising Crypto Projects
The world of cryptocurrency is like the Wild West; full of opportunities but also rife with risks. Finding new and promising crypto projects can be a game-changer for your investments.
Here are the best practices for spotting the upcoming Crypto projects
Crypto Data Aggregators
A crypto data aggregator can be used to gather details that you want about a specific crypto project or cryptocurrency.
The top crypto aggregators there that you can use are CoinMarketCap and CoinGecko. You can find the newly launched cryptocurrencies listed on the platforms of data aggregators.
You can find details like live price, trading volume, market cap, and more from data aggregators.
Social Trading
Have you heard about social trading before? It is a crypto jargon used to refer to automated trading systems that can duplicate the actions of other traders.
Recently, social trading has been a popular option preferred by many, especially new traders.
With social trading, you can understand what other traders are doing. It benefits you while you make a trading decision. Also, you can learn a lot from this.
Presales and Airdrops
Presales and crypto airdrops help you to find out about the new crypto launches. Also, when you buy crypto in its presale or airdrop phase, it will be available at a discounted price.
One way to stay updated about the crypto presales and airdrops is by checking the latest crypto news and events.
You can subscribe to Telegram groups or Telegram channels from where you can get the latest information about these.
Crypto communities
Being a part of significant crypto communities can help you to stay ahead of all the crypto-related news. There are many such crypto communities out there.
You can search for such communities on social media. Some of the most noted crypto communities can be found on Reddit, Discord, and Twitter.
In addition to these social media platforms, you can also find crypto information hubs, specialized forums, and more.
These are the spaces where everyone stays updated. Also, in such platforms, you do not depend on a single source to get the information.
Check ICO Listings
You can check the listing of the Initial Coin Offerings. This is an ideal way by which you can find new cryptocurrencies.
Some of the top investors also buy crypto from such ICOs. There may be appealing offers by which you can get the crypto at a far lower price than the original one.
We suggest you take advantage of all these.
Does All New Cryptos Have What It Takes To Be The Top Player?
No, a cryptocurrency need not be promising because it is a recently launched one. You can never predict the exact future of a cryptocurrency when it gets launched.
So how do we tell whether a new crypto is worth investing in?
All we can do is look at the existing and available data to try to figure out whether it has the potential to showcase a strong performance in the coming years.
If you are not sure about a crypt, then it is best that you do not invest in that one.
The Bottom Line
Note that, among the new crypto listings, there can be a lot of fake ones. The bad actors in the industry try to deceive you by selling fake crypto to you.
The scam projects may even look like a real one. There may be tainted versions of real cryptocurrencies as well as competently fraudulent ones. You need to be sure about the legitimacy of the cryptocurrency before you invest in it.
For that, you can read through the white paper on crypto. Or you can ask your crypto analysts friends or developers as they are the experts in this field they are able to easily filter the fake cryptos.
