How Sound Masternode Coins Like Light Pay Coin Could Turn Into Shit Coins
It is not a thing of surprise anymore that a number of times cryptocurrencies usually come out with sound use cases, solid partnerships as well as an enthusiastic dev crew and most importantly genuine intentions but at the end of the day turn out to crappy shit projects.
And this is where the discretion and level of information if every prospective investor comes to play. Although from the experience I would say I have personally gathered from this space I can say that sometimes this rightful application application of information and discretion might just my be enough but at the very least can successfully reduce an investors chances of falling prey of shitty projects
Considering the fact that masternode projects are one of my most profound area of interest in the cryptocurrency space, I have been able to consistently follow up a number of them, not too long ago I made a publication that spoke extensively on the possible effect one solid feature possessed by light pay coin which is obfuscation a security feature which helps to increase the anonymity in transactions by making them totally untraceable.
This is one among a number of other sound feature which the token possesses but on a closer look it could be noted that this project however promising has began to experience a fast decline in its promise to deliver even as it struggle amidst the current bear market, making a project that investors might want to take a second thought before leaping into.
Here are a few considerations that should be made to avoid getting caught up in seemingly sound projects so as to prevent colossal loss of investments.
Keeping Up With Community Activities
Funny as this might sound community activities are one of the fastest ways of ascertaining the life of a project, when an investor decides to get in on the train of any investment it might be in his/her best interest not to abandon the investment but from time to time check up on social media platforms such as twitter, telegram, Reddit, discord etc created by the project in question.
Light pay coin in recent times has experienced a terrible decline in this aspect leaving us to believe that there is a reduced level of interest and will from the Devs to see the project grow the last twitter update as at the time of creating this article was on the 11th of may and this is not mention the fact that tweets are scanty and have very little or no engagements at all, the discord channel is also in a sorry state as there are barely more not more more than a comment made on the channel per day(which is terrible considering the fact that conversations are meant to be made there)
Daily Traded Volume
The cumulative volume of trades carried out on all exchanges the coin is listed on is also another major indicator to look out for, a fast decline in the daily traded volume of light pay coin is a major red flag as this falls around $500 USD only as at the time of making up this write up
News On Current Updates
A vibrant and active cryptocurrency project is always supposed to always have juicy updates on various and recent updates carried out on the project this should also to a large extent involve following the milestones listed on the roadmap as this serves the purpose of continuously reassuring the investors and prospective investors of a major sign of life in the project, thus is also something light pay coin lacks.
Projects may come out probably during ico stage with the best of intentions but apparently all if these are subject to change through a number of uncontrollable factors over time. It is therefore the responsibility of the investors and prospective investors that all of the stated factors above are not just present at the time of investing but that they also remain that way
- Source: First Appeared Here
- Published Time: 2019-05-30 20:08:01
The views and opinions expressed in the article How Sound Masternode Coins Like Light Pay Coin Could Turn Into Shit Coins do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research.
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