Crypto project is the overall combination of what makes up a digital asset. This considers all the aspects of the asset like the platform, the token, and what they aim to achieve. To simplify this, we can take a look at the Ethereum project. In its case, the project makes up the Ethereum network or platform, the Ethereum token, and other noticeable parts that users can access. Presently, the crypto market has almost 10,000 crypto projects spread across centralized and decentralized markets. Although what each project offers varies from the other, traders are open to choosing the project they intend to back.

As mentioned above, there are about 10,000 crypto projects spread across the market. Some of these projects are legitimate and show promise, while others are not. It is left for a trader to analyze a crypto project before investing in it carefully. Below are a few of the steps to identify the legitimacy of a crypto project;

This is an essential factor in accessing how legitimate a crypto project is. In this case, you will need to access everybody on the team. It is advisable to take a deep look into their portfolio. Their profiles on websites like Twitter and LinkedIn could point you in a good direction. With this, you will ascertain if they are well versed in blockchain and other aspects of the crypto sector.

This is also another prerequisite to look out for when identifying a legitimate project in the crypto sector. A good crypto project would command presence across various platforms such as Reddit, Telegram, Slack, and Twitter. They would also constantly update their channels and pass out vital information to followers when needed.

This is the most important factor to determine how legitimate and good a crypto project is in the market. The developers should be able to spell out all the use cases of the token. They should also communicate the incentives that traders would gain from holding these tokens, among other essential things. If the project does not have a token, they should provide ways to reward users.

Although this step is always ignored, it is vital when looking at a legitimate project. This is because they are countries with rules against crypto while others embrace it. In a case where a company floats a crypto project in a country that has abolished trading it, it brings issues to the project. This means that the project and the company would suffer for neglecting the country's law and floating the crypto project in the long run.

Since the start of the year, many tokens have been launched in the crypto sector. Aside from that, others have shown promise since the beginning of the year. Although some tokens have cemented their positions already, traders are looking for the following big crypto projects. Below are the top 5 crypto projects with massive potential in 2022;

Lucky Block has cemented its place at the top of the crypto project to look forward to in 2022. This is because of the massive adoption that the token has enjoyed in the last few weeks. The crypto project is making waves with its integration into the lottery sector. Lucky Block is a lottery platform that is available on the blockchain. The lottery tickets on the platform are designed as smart contracts. With this, every drawing that is done is fair. The platform allows users from all over the world to use its services without restriction. The last few weeks from its presale have seen a massive climb of about 300%. Presently, the token is trading around $0.005824, seeing a 24-hour fall of 1.88%. In the last 24 hours, Lucky Block has had a trading volume of $4,402,669.

Decentraland is also another exciting project to consider in 2022. The platform allows players to take advantage of an in-game virtual world to make money. Users can use in-game tokens to purchase real estate known as LAND in the game. This feature has pushed the crypto project to the top of the most sought-after in the market. In addition, players can also trade their in-game items on the Decentraland marketplace. Presently, LAND is trading at $2.54, seeing a decline of 5.97% in the last 24 hours. The token has a trading volume of $767,183,438 and market cap of $4,683,118,598.

Shiba Inu has also become another crypto project market participants are looking forward to in 2022. The token was born off the back of the success of a fellow meme coin, Dogecoin. After the release of the token, it saw a massive rise of around 1055% in October 2021. Since then, traders have been anticipating the next big rise of the token. The recent launch of ShibaSwap has given the community and the market another reason to put their hope in the token. The token is presently trading at $0.000023, losing 5.91% in the last 24 hours. The token has a trading volume of $1,166,446,154 and a market cap of $12,831,156,914.

Going by the token's name, Binance Coin is the native token of the Binance crypto exchange. It is also the native token used on the Binance Smart Chain. Users trading in BNB on the crypto exchange pay lower fees in terms of transaction fees. Asides from that, users of the token can generate rewards from staking the token. Also, traders can use the token as collateral to take out loans across the DeFi sector. Overall, the massive push in the digital asset price is one integral factor that has pushed its adoption. It is also why it is a crypto project to look out for in 2022. Binance coin is presently trading around $362, seeing a decline of 3.85% in the last 24 hours. It has a trading volume of $1,581,264195 in the last 24 hours and a market cap of $59,812502,412.

Bitcoin is the first and leading digital asset in the crypto market. Although some traders believe that the token has gone high enough, others feel it still can go far in 2022. For instance, back in March 2020, Bitcoin traded as low as $3,500. Today, the digital asset is trading more than 10x the value it was trading then. Although it is nothing close to its all-time high, there is still enough space for the token to return to those highs. This is because it is widely recognized, and so many traders are buying a massive amount of the token. Bitcoin is presently trading at $37,369, with a decline of about 5.10% in the last 24 hours. The token has a 24 hour trading volume of $21,947,895,849 and market cap of $708,899,551,333. Bitcoin has a total supply of 21,000,000 tokens, and it presently has a circulating supply of 18,969,825 tokens.

These crypto projects listed above are among the top picks in the list of projects to look forward to in 2022. Honorable mentions include Ethereum, Avalanche, Curve, XRP, and Cosmos. However, traders should note that it is advisable to research before going in on a particular token. It is also advisable to diversify one's portfolio in a general market decline. With this, traders would not lose out entirely on some profits while the market is down.

The crypto sector is one of the biggest sectors in the financial sector. Even though most people are just familiar with 'Bitcoin' and 'blockchain,' the crypto sector goes farther than that. Going by the various crypto token aggregators, the crypto sector houses more than 4,000 digital assets on respective blockchains. With this, investors are generally at a loss in picking out the best from the list of tokens. Picking out the best is not just a random activity. It is bordered on some key activities. In this article, we will be looking into the various ways to spot the best crypto projects.

Cryptocurrencies are assets that are available for a host of use cases in the crypto market digitally. Digital assets do not possess the basic quality that physical cash has but are still one of the most used exchange methods. Digital assets are stored on wallets using keys that allow traders to access the stored assets. One of the reasons traders are moving to these assets is their ability to bring in rewarding returns. However, most of them are volatile as they depend on some factors to increase or decrease value.

With more tokens entering the crypto sector every day, it has become increasingly difficult for traders to recognize good and evil. This is because scammers and hackers have been on the prowl to scam investors of their hard-earned money. However, with the few steps below, you will be able to recognize a good project on the crypto market before you invest in them. They are;

Choosing the best crypto project you want to invest in is one of the most integral factors that should be considered. The Whitepaper of a crypto project outlines all the ideals and aims of the project to be developed. The Whitepaper also lists the project's use cases and how relatable it will be in the real-world setting. By going through the Whitepaper, investors would be able to decide if the project is something they want to forge ahead with. Also, investors need to be wary of plagiarism of other projects Whitepaper. Doing this removes room for doubt while showing the legitimacy of the project that is to be developed.

Checking out the development team behind the project is another integral factor to consider when choosing a good crypto project. One of the few questions that this should answer is how good the development team is and how reliable they are. Another thing to consider in this aspect is the experience of the development team members and how long any of them have worked on crypto projects. The main drive behind these questions is to determine if the team behind the project can pull off the project. This will help the investor from losing funds if the project fails in the long run. It would also ensure that scammers are not creating the project.

For a project to be successful in the crypto sector, one of the main ingredients that it needs is a massive following. Checking out the presence of the project on social media would go a long way in letting you know if the project is on the right track or not. In this case, you must ensure that the project has a huge community of followers among the top 5 social media platforms. Some of the few social media that could make a difference are Twitter, Reddit, Facebook, and Telegram, among other websites. Knowing this will also open you to various other investors and their opinions about the project. Another advantage of this is the announcement from the development team through these channels. This will enable you to update yourself with the latest events regarding the project.

Asides from the social media following, the project needs to have a very active community if it is going to be successful. In most cases, companies tend to open up a community for their followers on various platforms such as Telegram and Reddit. In other cases, most projects are now taking their community to Discord, where they can discuss at length. Another essential platform is GitHub, which allows traders and investors who are familiar with codes to see how good the project's potential is. The hype generated by the growing community would determine the eventual price of the token. It would also trigger other bystanders into joining the community, pushing it for broad adoption.

Market cap will continue to be another great determinant for how far a token will eventually go when it lists. This is because the market cap increase as the tokens skyrockets in value. If the market cap of the token is already high, it would have less space to grow higher. This will, in turn, cause the token to be stagnant. Asides from this, another thing that should come to mind is the number of tokens in circulation. Also, an investor needs to know basic things like the majority holders of the token and who controls the larger part of it. This is because some traders hold tokens for their short gains and dump them after seeing gains.

Even though very integral, this factor is one of the most neglected when picking out a good crypto project to invest in. This is because trading crypto is not allowed everywhere across the world, which provides legal implications for some investors and companies. For instance, if a company decides to launch a crypto-related product in Nigeria, it won't be successful. This is because Nigeria has banned the use and trade of digital assets since last year. This is one of the reasons why traders should bring themselves up to speed with the happenings around the world in terms of crypto.

This is also another integral factor in choosing a crypto project to invest in. Although most times, the hype of a major exchange listing would bring the hype, the projects might eventually not get it listed on the exchange. The majority of them use the news to build up the token price, pushing investors to scoop it up as it would be available on popular exchanges. Even though listing on big exchanges does not entirely determine the coin's movement, there would be more trust if there was a listing on a high-profile exchange.

Trading or investing in digital assets has never been an easy activity. This is because of the various things that should be considered. Abiding by the factors above would go a long way in helping investors and traders minimize risks. It is also advisable that traders research the kind of tokens they invest in while abiding by the rules above. It is also good to diversify one's portfolio in case of something tragic. The crypto market does not work well when traders put their eggs in one basket.