How to know if a project is going to rekt?
Nowadays many projects rekt us with huge losses in the industry for the investors.
So how to know if a project is going to rekt so as to be cautious of such scam projects.
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Hey there! This is an extensive topic and requires mostly doing your own research (DYOR). Hope this article we have helps: [https://www.binance.com/en/blog/community/why-and-how-to-do-your-own-research-dyor-when-investing-in-crypto-421499824684904046](https://www.binance.com/en/blog/community/why-and-how-to-do-your-own-research-dyor-when-investing-in-crypto-421499824684904046).
It has various links where you can learn essentially how to DYOR as well as analyse a project and make an informed decision. Thank you! -HM
The first question you should ask yourself is if there’s actual demand and utility for the coin/token BESIDES price speculation. If not, most likely not gonna make it.
Jeez what a question
There’s a lot of aspects you need for this one tbh
I follow these simple points when investing money in new cryptos, hope it helps:
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* Who is behind the project, are they random people or a prominent figure in crypto? If the project is run by random people, then be caution
* Check their whitepaper, is the promises too good to be true? If so, then it is mostly not true
If its not in the top 100 (market cap) by now it could possibly get rekt. If it did an ICO in the past it will likely get sued by SEC and may be rekt. If it has high fees and/or has slow speed it will probably get rekt.