Hi! This is a great question. With the onset of "Meme Token" culture, the already unpredictable cryptosphere has become even more volatile and risky.
There are some bare minimums that you should look for:
1. Is the company a legal entity? (LLC, S-Corp, etc.)
2. Is the dev team doxxed?
3. Is the team skilled/experienced?
4. Is the company vision sound?
5. Is there a white paper that explains the vision and roadmap?
6. Is there accountability to the roadmap and a way to easily track company accomplishments?
7. Has the company hit any milestones on the roadmap?
8. Is there any functioning product or service already on the market?
9. What is the use case for the company's product or service? Is it filling a true need in the market?
10. Is liquidity locked? This is vital to evaluate risk of your investment.
11. Is the contract renounced? If not, what is the reason and is it sound?
12. Look for projects with lower market cap; this means that there is lots of room to grow.
13. What is the circulating supply? If it is very large, it may be difficult to build wealth investing in the token/coin?
14. Do you believe in the project? If not, you will not be able to weather volatility of the market. Find projects that you love.
I'm the consulting CMO of a Cryptocurrency company. Give me a call if you'd like to gain more insight into the crypto industry.
Nicole
