06 April 2022 • 7 min read
Maybe you’re a new investor ready to dive into the cryptocurrency market with both feet and begin accumulating digital assets. The key to getting the jump on the market is to invest in newly launched crypto tokens as early as possible. To do this, though, you need to find promising projects and make sound investments before the coin becomes too hot for small investors to handle. But where can you find these up-and-coming new crypto coins?
We’re glad you asked. In this article, we’ll look at a number of ways to find quality, reliable, and trustworthy sources of info on new crypto coins, which can provide insights into a project’s development team, management team, roadmap, whitepaper, and tokenomics, among other things. By using these resources to do your own research (DYOR), you can make sound investments, weed out the shitcoins and scams, and navigate the market without losing your cool or your hard-earned money.
As a new or inexperienced cryptocurrency investor, doing your own research involves more than just reading the best crypto books. In order to save yourself the headaches associated with making investment mistakes, you need to take a multi-pronged approach. Your research will identify credible, trustworthy online resources and pay huge dividends over time as you find better and more effective ways to locate newly launched tokens.
In the process, you’ll come to learn about a range of things, including how cryptocurrencies gain value, why there are so many cryptocurrencies, and even what the future holds for the crypto space. And since no one can know everything about the crypto world, you will have to find trusted people and resources that you can use to make informed investment decisions.
Let’s take a look at how you can find new coins and what to look out for when evaluating new crypto projects.
Initial coin offerings (ICOs) are like initial public offerings for corporations. They are public invitations to invest in a newly launched project. The project developers then use the invested capital to fund the project’s operations and further development.
To learn about current and future ICOs, you can visit various websites that list, rate, and provide information about ICOs, which can include things like a project’s whitepaper, development team’s profile, soft cap, buy-in price, pre-sales, and public sales.
As you become accustomed to using these sites and gain more confidence and experience in the crypto space, you will be able to use them accordingly when planning your investment strategy, one that will include the amount of capital to invest in any given project, when to enter the project, and how many projects to invest in during a set period of time.
Other important information that you may be able to garner from these sites includes:
● Rarity/Scarcity of the token
● Niche (if any) filled by the project
● Uniqueness of the project
● Distribution of ownership of the tokens
● Future plans of the development team
● Information on the project’s community, its level of activity, activities, and efforts at spreading the word about the token
The best ICO websites to review are:
● ICO TOP
For those who like their daily dose of crypto news with their morning coffee, there’s no better way to spend those early hours than with some quality crypto news websites. Despite the proliferation of sites, blogs, and newsletters,several websites have proven themselves over the years to be excellent sources of information. Moreover, new sites are filling the information gaps left by the leading players in the field, which means that you should read widely in order to gather the most comprehensive and up-to-date information.
Here’s a list of websites that you can check out for their informative articles, interesting recommendations, and trusted information related to newly launched coins:
Aside from stroking our egos and providing a place for sharing pictures of cats, social media is important because it’s a source of forums, communities, channels, and even activities devoted to the promotion, understanding, and trading of cryptocurrencies and new blockchain projects.
However, they can also be sources of misinformation, ones rife with crypto scams and even dangerous crypto malware, which can lead to loss of investment capital if users are unable to separate the legitimate projects from the rug pulls. Before you transfer $1 million USD to that Nigerian prince who has a foolproof investment opportunity, be sure to do some due diligence.
Below are some of the usual social media suspects that you should monitor on a regular basis to get the latest developments and launches related to new tokens:
It seems like everyone has a podcast these days. They’re easy to make and only require basic equipment such as a good mic, a decent computer, and free editing software. And since they’re on-demand, you can take them with you wherever you go—your commute, the gym, a long journey, wherever.
There are some great crypto podcasts that have stood the test of time. Some have a specific focus such as bitcoin, while others are targeted for a more general audience. Whatever your interests, sample the following podcasts for leads on new crypto projects.
The flip side of finding new crypto coins, however, is being able to spot crypto scams, which is why we’re devoting a separate section to the many types of scams in the space. As CNBC reported, crypto scammers took a record $14 billion in 2021. Fraudulent ICOs and sketchy coins and tokens abound, making it imperative to be an informed crypto trader.
Let’s check out the most common types of crypto scams when it comes to finding new crypto coins.
Crypto spoofing is when crypto trading bots are used to place large buy/sell orders so that potential investors get the impression that there is a lot of demand for the token and that it has a high trading volume, both of which are signs that the token is legitimate. This is a scam because the large volume orders are canceled before they are filled.
Front running is when someone places a transaction in a queue based on knowledge of a future transaction. Insider crypto trading is done by people with knowledge about future transactions or events that will affect the price of the token. This is often done before a major price swing in the market.
Pump and Dump
Crypto pump-and-dump scams are usually done by a crypto investor, typically known as a “whale,” or group of crypto investors who own a large number of tokens. Their goal is to significantly increase the price of the token and then slowly sell off their tokens while other investors rush into the market to buy up the hot token.
The price of the token is driven up by spreading favorable gossip and misinformation about the token on social media. The promoters get away with this by openly declaring their due diligence, research, and the trustworthiness and credibility of their sources. However, nothing they say is true and when they finish dumping all their tokens, the market price of the token drops, with most investors left holding nearly worthless digital assets.
A crypto rug pull is a type of ICO scam. The project developers hype the project and get investors to purchase the newly launched token using their fiat currency or crypto tokens. After the ICO ends, the development team absconds with the invested funds, leaving their investors with worthless tokens.
The perpetrators of phishing scams target their victims using unsolicited emails, text messages, and even phone calls to convince them to purchase the "scam" token. They may even imitate wealthy investors (e.g., Elon Musk), social media influencers, celebrities, and even well-known investment firms in order to convince their victims to invest in the ‘scam’ token.
There are other twists to this scam. Some sites offer their victims free crypto tokens if they invest in the promoted token. One token promoter even offered its victims access to a premium pornography website if they invested in the "scam" token. No matter what is offered by the scammers, it never materializes, and the token offered is worthless.
Digital scarcity, or its illusion, can pose certain problems. The scarcer a token, the more value it has on the market. In order to drive demand for the token and push up its value at a faster rate, the project developers will claim that there will be a limited supply of tokens in circulation. The problem is that after investors have paid a premium for the “scarce” tokens, the project developers will release a large number of tokens onto the market, which causes the market price of the token to sharply decline in value, making it impossible for new investors to recoup their investment if they decide to sell.
Ponzi Schemes and Pyramid Schemes
A ponzi scheme is a fraudulent investment scheme that pays its existing investors using the investment capital from the new investors, while a pyramid scheme is one in which project promoters recruit investors and then the recruited investors recruit more investors. These scams are known for guaranteeing a minimum return on investment (ROI). The guaranteed ROI is generally quite high and can only be paid out by the active recruitment of ever-increasing numbers of new investors.
Our last suggestion for those who want to find those rare tokens that are worthy of investment in the sea of bad tokens, you can try several sites that rate crypto tokens and projects. Some sites compile data, then analyze it using their own algorithms. Other sites compile the opinions and judgments of expert traders and investors, and then report the results to their platform users.
Some great websites that you can use to check the legitimacy of your token of interest include:
No crypto project is perfect. If you refuse to invest until you find the perfect one, then 1) you will never invest in crypto or 2) your “perfect” project will likely turn into a “perfect’ scam.” Your most important task is to sort the proverbial wheat from the chaff, sifting the promising projects from the scams.
Despite a rock-solid white paper, clear use value, and a reputable team of developers and funders, there is no guarantee that a given crypto project will take off. Conversely, things like meme coins can go to the moon for no apparent reason whatsoever.
There’s a certain logic when investing in the crypto space, but, then again, it can be impossible to predict “the next big thing.” In fact, many people are now arguing that, as the crypto space matures, “the next big thing” might become even more elusive. In this respect, the “newness” of new crypto coins might be a fool’s errand.