Hello,
Please guys help us newbies to start trading by not wasting time on bad method to determine profitable coins.
What is your best strategy to see if the coin will be profitable or not?
I am not telling that there are steps which guarantees if the coin will be profitable, but just asking what steps you using?
I saw that good method is to read news,forums about particular coin, but which websites to check, what should I look in the articals, news?
thanks
The best you can do in my opinion is to make sure that the team behind whatever the coin is is actually legitimate. The more public they are with their team the better because it means they are comfortable with putting their actual real life reputation on the line for the project, and if they know that it's going to turn out to be a unprofitable or scammy project then they will still anonymous.
Most ICOs out there are for the sole benefit of the founder, little of the funds actually goes towards promoting and developing the coins but a lot of the funds collected through the crowdsale goes straght into the founder's pockets. Look for clear roadmaps.