Ask Leo: How Do You Search For Your Next 10X Crypto Gem

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You know that pain you feel when you see a coin doing 10X and you start wishing you were lucky enough to buy some before the spike, yeah, that feeling can be annoying. If you are already on Hive and you bought Hive when it was $0.2, then you are lucky and still early. But outside Hive, how do you search for your next 10X crypto gem?

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So many things need to be put in mind when making that decision to buy a coin because you feel it’s next crypto gem. One thing I look out for is the team behind it. Are the teams well grounded in crypto, or are they just some fantasy moon boys looking for how to rip people off by claiming they know what they are doing? If the team is great, I tend to watch out for any notable partnerships or big projects associated with the coin. Partnership helps drive people, people drive demand and demand drives value.

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After that ,I rate the attention on the coin, is the coin getting so many attention yet? If it’s not getting attention yet, I check it as one of the good qualities for aping in, because this means that you can consider yourself one of the early investors. This means that when you buy before the attention, you have higher chances of getting bigger bags of the coin before the coin gets flooded with a lot of attention.

Analyzing the token smart contract is a great thing to look out for when searching for your next crypto gem. If you see any token that has the dev holding way bigger bags, then avoid that project because that’s a red flag. This means that these devs can easily dump their coins and bail, causing a massive drop and rug pull. We saw lots of that in 2021, I guess we must have learnt one or two lessons from last year’s experience.

Personally I don’t like buying tokens with billions of supply. How can the supply of a token be 30 Billion, or like we see in these shitcoins, they have trillions in token supply. I personally feel that coins with token supply below 500 Million supply is okay when choosing coins to buy.

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Community is very important to watch out for when choosing a coin to buy. Is there a community behind the coin to help drive the coin when necessary? If there is no community, then there can’t be any demand, community comprises of people, and people drive demand and demand drives value. The community has a huge power and role to play in the coins value.

Don’t forget to look at the utility that makes the project stand out from other projects. What makes it unique, what does it do and why do you think people will want to invest in the project. This is an important thing to look out for when choosing a crypto gem.

These are things I watch out for, and so far so good it has worked for me.

What do you watch out for when choosing a crypto gem?

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9 comments
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Analyzing the token smart contract is a great thing to look out

This is not for everybody, only developers can do this.

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Yeah, exactly, am not sure everyone has that skill. But am sure they can learn for that sole purpose, right?

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Well, they can only check if the smart contract has been audited. If it has been audited, it is not sufficient to say that the project is legit because, when the developers have high bags, they can dump the coin, leading to low liquidity.

The smart contract check is only to ensure that the smart contract is not fraudulent. There are smart contracts that can still peoples data.

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I don't think that's entirely true... You don't have to be a developer to look at basic smart contract code.

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Nice post and I learned actually that the way to find good tokens is to try the product and if you like it and are excited about it, then it will probably thrive.

Tokenomics and the team are also very important as you mentioned. People trying HIVE 12 months ago would have probably think the product is good but “price action has been bad, it won’t X10). Well it did and you could have earned an even bigger stake through posting hehe 😉.

Cheers mate

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Thanks a lot for your comment. The irony is, people trying it now and seeing it below $2 won’t be excited as us who saw it at $0.2 8 months ago. It all balls down to timing. Well to value Hive like us, they have to test and taste the product like you said.

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I just listen in on the LEO discord, there is sometimes lots of useful discussion on there that identifies new opportunities!

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I think i need to start paying more attention on the discord

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