DIGITAL Local Crypto Assets Emerge Investors Must Choose Carefully

Uqwo – DIGITALLocal Crypto Assets Emerge, Investors Must Choose Carefully , This year the trend of crypto assets is getting stronger. This is marked by the increasing number of developers competing to release their local crypto asset projects that on average support the metaverse ecosystem , non-fungible token (NFT ) marketplace, and P2P gaming or play-to-earn games .

However, the General Chair of the Indonesian Crypto Asset Traders Association (Aspakrindo) & Tokocrypto COO Teguh Kurniawan Harmanda continues to remind the public to choose local crypto assets as an investment instrument. The selection of local crypto assets can be seen from the whitepaper which contains various documents that explain the profile and performance of the team, business model governance, technology and scalability of the blockchain system used. Then, how the funds collected from investors will be used.

“ The whitepaper must include not only a detailed technical description of the project , but also a development plan. Ideally, an in-depth work plan for the next 1-2 years, and also include at least a beta-launch version . If some of the processes written in the roadmap have been completed, be sure to explain them in a whitepaper , this will be a positive consideration for investors,” said Manda.

In ecosystem development, developers will offer utility crypto assets as a means of development, therefore there are the terms IDO ( Initial DEX Offering ) and ICO ( Initial Coin Offering ) as methods of crowdfunding capital or funds for project launch and development. Both methods are often associated with the concept of IPO ( Initial Public Offering ) in companies that are listed on the stock exchange.

“Many crypto asset developers take advantage of people’s ignorance. They are working with the current crypto hype to offer premature projects by selling utility tokens to raise money from innocent retail investors. In fact, it could be that the token is just proof of ownership of a project promise that has not been tangible at all,” said Manda.

To create a crypto token is relatively easy, according to Manda, there is nothing special and can be done by anyone. However, it should be emphasized, to release a bona fide coin/token that has global standards is not easy. There is a due diligence process that must be met. “There is a video tutorial on YouTube that can create crypto tokens in 15 minutes. I think people who are just starting out and have little knowledge of crypto can make it,” said Manda

read more

In addition to the whitepaper document . there is a smart contract audit process of crypto tokens created by third parties. One of the most popular independent audit institutions, Certik Blockchian. These institutions usually carry out audits of newly launched cryptocurrencies to determine whether the project is of quality or not.

Leave a Comment

Your email address will not be published.

error: Content is protected !!