Hi there lucky ali here and today i want to discuss about importance of reserach in crypto investments. There are lots of crypto projects comes daily but only few are good of them. Now how you can find these few great projects for you? Answer is by doing proper research.
Reserach play major role here. I came through NFT related posts and i have read this common thing that people follow hype. Offcourse hyped project can be good but what about it's long term stability? This is the thing that you have to check first otherwise when the time comes to take profit, coin price will be dumped. So don't be victim.
Same thing happening in DeFi high return investment platforms. Users who referred you and others are earned great but when you start generating profit, the coin price will decrease or in another scenerio APR rate will go down. So this is happening.
Sp whether it is NFT or DeFi project, you have to select best for you and don't follow hype blindly becasue sometime it is marketing startegy to trap you. So now the first part is how to do reserach of any product.
Frist thing is read whitepaper and roadmap. So you can understand what is next to come and what is the future plan of that project. You will get lots of ideas from whitepaper and roadmap details.
Second thing is check team members and their profiles. Visit their social media profiles to know the background of them and expertise of them. Solid team can build an empire but if there are unskilled people or the people who did scam in past, you will get the idea that this project is useful for you or not.
Here is another solution is you can start with small investments and slowly you can reinvest your earning so this is gonna be a great for you. But if you know how to reserach properly then investment is better for you.
So i hope you enjoyed this post. Don't forget to share it.