How do you know a new cryptocurrency is even safe to invest in?

[Grant]

New cryptocurrency pops up almost daily now. It's gotten to a point to where I don't know what or who to trust in the industry. I mostly trust the Bitcoin and other big cryptocurrencies, but with all the new ones coming out, how do we vet them? Like, how do you even know these new cryptocurrencies are even safe and legit to invest in? Sure some might say they will return your investment, and might even give you stats and all that fun stuff. But does that usually prove anything?

I fear the idea of more currencies dropping, and more people getting scammed because of it. I will never invest in new currencies unless there is a guarantee that it will stick around.

 

[deucher]

It is very difficult to know that cryptocurrency is safe because, as you wrote, crap is released every day and it cannot be stopped. A few years ago, there was a large selection of really cool coins, but today they are hard to find because they happen to be one in 20 or even more. For me, the biggest indicator of safety is listing on well-known stock exchanges, and preferably on all of them, not just one of them

 

[Nomad]

When it comes to crypto, you cannot be certain about anything. Look at the market, how fast they gain price value and how quick they drop their value. Not just the new, even the old and so called established crypto projects are not safe. However, if you hold for a longer duration, you might be on a profitable site.