Proven tip to help you find the next big crypto-currency.
The crypto-currency market is such that is filled with different coins serving diverse purposes. On record, there are about 1,500 different cryptocurrencies to choose from in the world, and this makes it a rather herculean task choosing the right coin to put your money into.
There is also the challenge of identifying the next Bitcoin just by the fact that there is no fundamental metrics for accessing the real value each coin possesses as in the case of physical properties.
All you have in this case is a site that promises a revolution in the financial sector of the economy if it is adopted and replaces the fiat currencies we are used to. Bitcoin, for instance, has been identified as headless currency with no real intrinsic value per say because it is not tangible.
Also, it is not like financial assets such as bonds and stocks due to the reason that it does not have a return. Its only economic value is predicated upon the chance that it will appreciate based on the amount given it by those who hold it.
Putting money in the cryptocurrency industry is entirely speculative, and you should also understand that the market is not regulated. Therefore, any individual that seeks to invest in this market must be willing to take the risk of losing his or her investments. However, the following tips should be able to help you get the best deals as regards investing in tokens
What you should do to win in Cryptos
Go for cheap:
It is crucial that you seek fro crypto-currencies that sell at under a dollar per coin. This is very much vital due to some reasons, the first of which is the fact that this price creates the impression that the coin is slightly cheap especially for those who have a small pool of finances.
Another reason is the fact there is always the chance that the one dollar investment could become a two dollar deal within a short period. More often than not, we witness an unusual rise in the price of crypto-currencies due to some reasons such as publicity and speculations which end up hiking the cost of the coins.
Carry out your research:
The next smart thing to do would be to check out which of the coins hold the most promise especially as the possibility of such coin to be adopted as some currency. This method can be used to ascertain the intrinsic value of each one of the coin.
Price and volume charts:
You may want to look into crypto-currencies that have diagrams of rapidly accelerating volume and price growth mainly because this sort of chart is usually a form of confirmation of the value growth momentum of such currencies.
It should, however, be noted that these tips should be implemented with some form of caution in mind because the cryptocurrency business is a somewhat risky one.
Interested in my previous blogs:
- Crypto Talk #3 Is Bitcoin regime coming to an end?
- What is Blockchain? A beginner’s guide to Blockchain Technology.
- Crypto Talk #2 Is India going to Ban the Cryptocurrency Trading?
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It became easier for us to choose crypto after reading your article.Thanks for sharing :)
Every thing your post is brilliant
Thanks @m-khan
No mention of market cap? While I agree that having a low price per coin is definitely a plus over a high priced coin, to find the "next big crypto" you need to have a small market cap. Other than that I loved the post! Thanks for sharing
Yes, because I’ll make a blog on that :)
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What do you think about dogecoin? whether a time the price will rise like bitcoin price?
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