I came across a post where an advise was ditch out
for newbies like myself not to get involved in new projects,
due to the risk that follows.
But with all honestly, Some project with 3 to 7 months old have one time becomes Scam, Good example is OKS CHAIN. The project was over 2 years old, yet end up being scam, as the CEO and other dev cart away with so much money. And abandoned the project.
My experience tells me that everything involves around crypto project, Is about risk, except for the president of them all ( Bitcoin ), The vice ( Ethereum ) and the child ( Binance ). Investing in any of these 3 gives risk free system. As they say experience is the best teacher in life.
So i strongly disagreed with the term of " do not invest in a brand new project " to be risk free. A lot of new project has yielded x50
of my investment to me most of the time, What i usually do, Once they're up, i take off with my investment and interest. This is my experiences.
And i strongly believes by doing this, Will yield high success to everyone and also helps you to minimize the risk of lossing all your funds.
For project founders, some projects are good, with high-quality code and complete audit reports, but it depends on whether the project party wants to do evil. For retail investors, many have no judgment, and their confidence comes from the activity and number of participants in the community. For smart people, they have their own methods and standards for selecting high-quality projects, and they will not put all their eggs in one basket. In addition to mainstream digital currencies, other altcoins are ways to earn money, and some projects will not even survive for more than 24 hours. It's also very sad.