How to do a proper research - Community Member Request (serious)

Hello everyone!

First of all I would like to mention/explain why this post is even being made, under one of my previous posts a member of our community, the u/podfather2000 gave me a brilliant idea to make a post and explain how I do my own research. I would like to thank him for that as I never thought that someone else (except of me) will be interested to read a post about it. I will not lie, it will be a very long post without TL:TR so if you don't like to read it will probably not be for you.

This post will be divided into few points (steps) as below:

• looking through ICO websites for new projects to come
• first website impression
• joining social medias
• reading the whitepaper
• getting to know the team behind the project
• checking tokenomics
• check the competitors

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I. Looking through ICO websites for new projects to come / Finding projects which are still small and require crypto society attention to grow (you will understand the difference later)

Your first task is to find a project, it's up to you how you do it, you can hear about some interesting new coming ICOs on social medias, from a friend or use and check any ICO/launcher websites, or you can either search through the entire rank market like CoinMarketCap or CoinGecko to find them, I will say it in one sentence - the first option is much easier and does not require that much time spend on searching potentially interesting projects as you have them all placed one after another (all are on the same page) but you need to remember that these days most of those projects are meme coins, even though they have got roadmaps I wouldn't be so sure they are going to fulfill them (most likely they are just there to do pump & dump which we don't want to see); the second option which is my favorite (I used to find 'gems' only that way back in 2015/16) is to go through the entire ranking and check projects one by one. The most likely you'll be able to find 'gems' outside of top 200 as those (most of them, not all) in top 200 are already discovered (that's my assumption) and they have been hyped at some point already and your mission is to find a 'gem' that has not been hyped/discovered yet by many. To be honest in this process I was mostly clicking on projects which my eyes liked, I believe that an important role in the first step plays fate and/or destiny as there is no rule what your eyes will like on your screen, in my case it worked many times, it can work in yours as well.

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II. First website impression

Let's say you have already found a potential 'gem', then the first step which you should do after that is to check their official website, remember the first impression is really important (but it's not final!), from the top scroll down to the very bottom to see if it looks legit, if it's poorly made that's a red flag straight away, a legit website will look nice and clear to see, it also depends what kind of project you are checking, if it's a blockchain game then probably you will see (you should) some of game videos, pictures, nice graphics etc. In my ''career'' in crypto I have seen many trash websites, I still followed the projects though for a while to see how they will be after few months, I can't remember any of these projects surviving more than 3 months.

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III. Joining social medias

When you have already checked the website, now it's time to check out and join their social medias. The main social medias these days are (it also depends what kind of project it is, it is not required for any project to have all of social media accounts!): Twitter, Telegram, Reddit, Bitcointalk, Discord, Medium, Slack, Facebook and if the project is based in Asia they should also have KakaoTalk. Join their social medias and check if the team is active there, if you want you can even ask some questions on discord or telegram as those are two places where you are most likely to get a fast response, the project team should always put a lot of effort to answer all of the community questions in the best possible way because not gonna lie but without us, the investors no project would even exist.

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IV. Reading the whitepaper

The crucial and the most important part of your research is here, in this document you should find all the necessary info about the project, team, tokenomics and future plans. A well prepared whitepaper is clear, easy to read and contains the info which I mentioned above, additionally it may contain some graphics like screenshots from the game or anything else dependable on what kind of project it is. Pay a lot of attention to reading and understanding the whitepaper, I've read like 1000's of them and believe me, every minute spent on reading them was worth it as it helped me to evaluate the project's worth.

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V. Getting to know the team behind the project

Try to find out/verify the most important people in their team, especially the CEO; these days in the times where we have a lot of memecoins/DAO projects verifying someone became obsolete (seems like by seeing people's greed and investing in projects without any vision). Check their social medias (if they have any) LinkedIn, twitter, maybe telegram or facebook (nobody really uses facebook for crypto anymore), try to find out if they are legit people, from my point of view if you have honest intentions you do not try to hide your identity behind your ''fake'' twitter accounts.

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VI. Checking tokenomics

If the team keeps more than 50% of all the tokens it's a red flag and you should consider investing in that kind of project as very risky. One thing you have to understand that there is no perfect/universal tokenomics, every project out there is spreading their coins compatible with their own concept and vision of the project, just make sure the teams tokens are being locked for long period of time so that they can't rug the project straight after the sales.

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VII. Check the competitors

Last but also important step in my research is to check the competitors, you know there is no point of creating another Bitcoin or Bitcoin 2.0 (I've seen a shitcoin like this in past) because the market does not need that, the crypto world needs something new, unique to come, so if a project is promising the same things like another 100 projects out there how do you thing their token will perform on the market after the launch when the competitors have already (potentially) delivered their promises and your project is just being present to the audience. Of course, miracles happens and they may happen this time as well but you don't want base your research on pure luck, right?

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I was not sure what flair I should choose, as doing research is vital part of investing strategy (at least it is for me) but I've chosen 'advice' as flair for this post.

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As always thank you guys for reading, always remember the crypto been made to help us, let's use this tool wisely.