How to Evaluate the Potential of a New Cryptocurrency

New cryptocurrencies pop up on an almost daily basis nowadays, and there are already thousands of them out there. However you may have noticed that the vast majority of those cryptocurrencies don’t really go very far, and many stagnate or even depreciate after a couple of years.

Predicting how a new cryptocurrency will pan out is not easy, and is almost impossible. However there are ways that you can evaluate its potential and determine whether or not it has a good shot at making an impact:

For any cryptocurrency to make its mark, it needs to have some form of utility that is preferably unique in some way. In other words it actually needs to be able to solve a problem or improve on the way things are currently done.

If a cryptocurrency does not have any utility, there won’t be any reason for people to want to invest in it. It won’t stand out in any way, so why would anyone choose it as opposed to more established cryptocurrencies that have less risk?

Every cryptocurrency is only…