5 ways to spot legit crypto projects

Chryzano Ariston 

Blockchain

Read the white paper thoroughly

Important details about the roadmap, tokenomics, what problem it solves, the developer information, and the vision will be available on the whitepaper.

Blockchain

Check if other projects are building on it

When a project is genuine, you’ll see developers jump on the chain to build DeFi apps and NFT projects.

Blockchain

Check the on-chain metrics

If the TVL (total value locked) is high, it means people trust their tokens with the platform.

Blockchain

Track the token concentration on wallets

If the majority of tokens are stashed into a handful of wallets, then it is a big red flag, as the holders will be able to manipulate the price.

Blockchain

Keep an eye on social media channels

Listen to what the community members are talking about on social media platforms. Don't be fooled by FOMO, as there could be insiders impersonating the general public.