1. Evaluate the Team: A good way to evaluate a cryptocurrency project is to research the team behind it. Review their resumes, their experience in the space, and look into reviews or articles from reputable outlets.
2. Understand the Use Case: Research what the project is attempting to accomplish, and how it plans to make use of the technology it’s introducing. Look for a specific vision for the project, as well as a defined plan for meeting those goals.
3. Check Out the Code: Cryptocurrency projects are backed by code. Check out the project’s code on Github and assess its quality. If the code is sound and well documented, it’s a good indication that the project is legitimate.
4. Read Whitepapers: Whitepapers provide valuable information about the project and its technology. Pay special attention to the project’s token economy and how it plans to lead to adoption.
5. Do Your Own Research: Finally, don’t rely on the opinion of others. Do your own research and come to your own conclusions. Look for the project’s presence on social media, industry events, and the number of partnerships it’s established.