1. Explore their Website: —

Check out their whole website and click on all links that contain information about the cryptocurrency. The homepage gives us the basic idea and the purpose behind the current cryptocurrency.

This is what OmiseGo has to say about their currency on their homepage: -

Check out all the links given in the main menu and submenu. It will help you get the basic idea of the coin.

2. Make use of secondary sources: —

If you still don’t have any idea or aren’t able to understand the cryptocurrency then you should make use of secondary sources. Try watching videos about it on youtube. Many YouTubers provides us with easy to understand insights about the coin.

Here, we are trying to understand Ark and how Ark ecosystem works. Don’t watch videos on why you should buy Ark as they may affect your judgment at this stage. Just try to understand the current cryptocurrency and how it works!

3. Study the whitepaper: —

Now you will have a basic idea of the coin and the tech, you are now more prepared to read the scientific whitepaper. You will find them by simply going to their website. Try to read and understand the whitepaper thoroughly.

Many people skip this step, don’t do it. It addresses all question and the answers that you may have. It will define the problem developers are trying to solve, the purpose of the coin and the tech behind the coin etc.

4. Study the founders and core team members: —

Check out their founders and core team members. You will find their info the website itself. Check out their interviews. Research on their profile on LinkedIn, Facebook and Instagram.

Try to get into their life as close as possible. Try to understand their mindset. Remember, founders, are the engine of the company.

Are they optimistic about the company? Are they trying to dodge questions presented to them in interviews and AMAs? Are they partnering with anyone? How transparent are they? Are they trying to hide information? Have any major investor backed them?

Check out their road map and judge whether have they consistently delivered? Have there been delays which were not due to external factors? Have they abandoned any earlier projects?

To find answers to these questions do a simple google search for latest news, explore their website and blog, check out their youtube videos.

Qash has posted series of videos and interviews on their Reddit.

IOTA has partnered with Microsoft, Fujitsu, and Others which shows how committed and intelligent founders are. 
Source: https://cointelegraph.com/news/iota-partners-with-microsoft-fujitsu-others-for-iot-data-monetization

5. Community backing and growth

Check out their Reddit. You will find answers to many of your questions. Make use of search bar and if you still don’t find an answer better ask the question.

Ethereum Reddit Community

You will find members sharing new about their cryptocurrency. This is the best place to interact with founders and get answers from them. Always observe their habits and mannerism

Asking Questions on Reddit

Checkout how passionate and optimistic people are about their cryptocurrency. Are they selling the coin or holding it for long term? (HODL!) Sometimes insights shared by the random person are gold! Always check the reddit every week for latest developments and news. Don’t forget to subscribe to the subreddit!

6. Try to understand the industry cryptocurrency is made for, Thanks to reddit user DancinginAshes

He raised a very good point. This is what he recommended to me: -

if you don’t understand the industry that the project is trying to work in, then you also need to research that industry to see if there’s likely to be demand for the solution the project is providing. Also it’s a good way of verifying that the team has relevant experience in that industry.
Ex: project Y is going to disrupt the retail industry, but after digging around you notice that no one in the core team has significant experience in the retail industry. This is an example of a huge red flag.

IOTA was created for Internet of Things. Read about it and why it is the future. Read some industry reports to understand how future may look like. IOT is going to be everywhere, in your fridge, television, car etc.

Qash was created for payment of services provided by Quinone. They want qash to be currency of choice world book. This will connect all the independent exchanges within a single framework.