For those interested in crypto beyond the familiar names of Bitcoin, Ethereum, and Binance, the phrase “Do your own research” (DYOR) is practically a mantra. The phrase is recited by everyone, from YouTube “experts” to the myriad of crypto bros who are going to tell you how to make millions, or even crypto detractors, who view the entire industry as a lawless gamble that is destined to fail.
What is less discussed is how to go about researching potential crypto projects. The team at Shield Coin decided to set the record straight, but why should you consider their advice?
For starters, the minds behind the Shield crypto project are some of the best and brightest. Shield Coin is also the first and only DeFi insurance-based cryptocurrency. The team created the only checklist in the space that is designed to evaluate crypto projects and assign project ratings of low, medium, or high-risk. Through Shield NFT wallet protection, Shield Coin offers up to $1,000 in blanket coverage against scams and rug pulls. To achieve this, they developed a comprehensive 35-point rating system for determining a token’s likelihood of becoming a scam or rug pull.
This unique checklist could save crypto investors, new and experienced, hundreds of millions of dollars in the coming years. So let’s jump in.
The checklist is broken up into 7 categories: professionalism, community, contract, utility, the team, the white paper, and social media. It seems simple enough, but under each category, the team has developed a series of pointed questions to help investors identify good projects with sound business models. The next time you decide to invest in a crypto project that you heard about on Reddit or from your nearest crypto bro, take a moment to use Shield Coin’s checklist, and don’t forget to grab a Shield Coin wallet Protection NFT! You worked hard for your money, PROTECT IT!
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