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Brooke Hopkins

09 October 2022 103 Read Crypto


How to Quickly Discover a Profitable Crypto Coin?

When you want to know how to quickly discover a profitable crypto coin, there are some things you should look for. First, be sure to look for the coin's founders or team members. Secondly, check whether the coin is legitimate. You can do this by looking at the coin's social media presence and website.

Identifying a rugpull

One of the most important aspects of identifying a cryptocurrency coin is identifying its on-chain activity. This involves looking at its trading volume and liquidity in the past few days. Moreover, you should also check how many DEXs the coin is listed on. If it appears in only a handful of DEXs, that might be a good indication of a rug pull.

Another characteristic of a rug pull coin is its low liquidity. This means that it is difficult to convert the cryptocurrency into cash. This characteristic is highly problematic for experienced cryptocurrency traders, because it can lead to price manipulation and instability.

Finding a coin's founders

If you're looking to make a profit from crypto coins, you might want to find out more about the coin's founders. The founders of a coin will typically keep a percentage of the coins' total circulation. Typically, this is between five and twenty percent. When the coin's value increases, the founders will earn a larger percentage of the coin's value. However, these founders are not the only ones earning money. There are several ways to find out more about the founders of a coin, including its LinkedIn profile.

Identifying a coin's team members

A key element in determining whether a coin is legitimate is to see who the people behind it are. The team members of a profitable crypto coin should be real and not anonymous, and should display their contact information on their website. You should also avoid fake team photos. LinkedIn profiles can also be a good indicator of the team's competence.

Verifying a coin's validity

In the cryptocurrency world, the blockchain provides the basis for determining the validity of a coin. Blockchains are constantly growing lists of records, linked together by cryptography. Each block contains a timestamp, hash pointer to the previous block, and transaction data. By design, blockchains are resistant to change. They are also a decentralized database managed by a peer-to-peer network of computers.