CoinMarketCap.com alone has over 1,600 cryptocurrencies listed at the time of writing this. And then there are projects that haven’t made it to CMC yet. The problem is, many of them don’t have good intentions and are pure money grabs or blatant scams.
But then again, the current state of the crypto market presents a once in a lifetime opportunity to create incredible wealth. So how do you evaluate a cryptocurrency in order to spot a gem among the garbage? You need to have a due diligence checklist that you can use whenever a new project pops up on your radar.
If you haven’t got one yet , then you will love the one we prepared for you:
Is the Business Model Legit?
Where there is a problem, there are people experiencing it and there is room for a solution. And where there is a solution, there are folks willing to pay for it. However, many crypto projects manufacture a fake problem to justify the existence of their cryptocurrency. As awesome as the blockchain technology is, it’s…