Did you notice of masternode coins coming out every week or even everyday? How do you evaluate these coins to lessen your chance of being a bag holder?
First, you have to look at their website. Does the website look like it is hap hazardously put together to catch the masternode frenzy? This is a sign of a bad coin. In this case, the owners just want their coins to be listed on masternodes.online and sell for a couple million dollars then create another coin and abandon ship. You can get burn very badly because you are chasing after the 3000% ROI. What’s the point if it is going to crash a week later?
Second, the coin needs to show who the developers/owners are. This is one of the only way to know that they are serious enough to develop a coin for long term. Why is it ok for these masternode coins to hide their identities? It is NOT ok. This is a big red flag. They want to hide their identities so they can create another masternode coin the following week and continue doing that onward. It is very easy to fork another masternode coin. So a coin without a team is a BIG RED FLAG.
Third, ask to see if this coin has a community or products to support it. If there is no products or community to support it then you will be a bag holder very soon. So these are the top three suggestions to evaluate masternode coins, as they are breeding like weed and you don’t want to be a bag holder.