How To Do Your Own Analysis?
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Friends, we have a lot of newbies who are just starting out in cryptocurrency. So I decided to make a post about how to do your own analysis of projects. In other words - DYOR (Do Your Own Research).
One post will not reveal in details all the aspects we need to take into account when analyzing. I plan to do a second post like this, but it will depend on what assets you show under this post. It's up to you.
Below we break down the main metrics for DYOR.
✅Project website
On the website, you will always be greeted with a brief squeeze of the project. Be sure to read the white paper to learn all the basic details:
• What is the project?
• What are its benefits?
• What opportunities does the project offer?
• The project roadmap.
When analyzing the roadmap, pay attention to whether the project is on track. If it is lagging behind, it indicates some difficulty in implementation.
✅Funds
Funds are analyzed to see who is acting as the guarantor of the project's success?
🟢It is important:
• Which foundations have already supported the project?
• What successful cases do these foundations have?
• Will the funds be interested in further development of the project and its token?
Having good funds "on board" increases the likelihood that the launch will be successful and the project will have a better chance of getting support from new investors in the future.
A resource for fund analysts and where they invest is Chain Broker
✅Community and Social Media
You need to gauge the excitement around the project and audience engagement/
🟢Important:
• How active the project's social networks are: Telegram, Twitter, Discord, Medium, GitHub, and so on.
• How involved is the team in maintaining social networks?
• Ambassador Program. Is it active or does it only have a name?
When analyzing social networks, you need to assess not the number of subscribers, likes and reposts, but how active the audience is among themselves. You can write any question in the discord chat and see how quickly you get an answer.
