Steemit Crypto Academy Season 2: Week6 | CRYPTOCURRENCY PENNY Homework Post by @ pelon53
Hi friends, In this Today lecture from @pelon53, I understand investing in Penny crypto coins risks and Rewards.
Thanks for making it a wonderful lecture for us.
About Penny Crypto Currencies:-
Simply Penny Crypto Currencies means, whose price is under $1 is known as penny cryptocurrencies.
Those coins are possible to Pump and Dump very easily. Whales holding BTC, easily manipulate penny curries. But on compared to High cap coins from penny coins we get huge returns. Along with High risk too.
Best Example we see Doge, Matic performance in last 2 months.
Doge gives an unbelievable performance this month. It grows from $ 0.12to $0.7 around in short term.
I see Doge at $0.12 on April 15 th, On May 8th at $0.7 nearly 6X returns it gives within 25 days.
Same results for getting high cap coins it took a lot of time, and also need a huge market cap for giving 6X returns.
Like that returns we get in penny crypto coins only, but for investing need to took potential coins only, If we invest in scam projects, they we need to lose our hopes for getting back our investments also. Here is possible to get a 100% loss.
Those coins are very risky at the same give good reward too.
Advanges on Investing in Penny Crypto Currencies
- Investing in Penny cryptocurrencies always give huge returns in long term.
*Average amount is enough to spike its price.
- For investing no need for a huge amount, using low investments also possible to earn good returns.
For Example, if we invest $100 in penny crypto, it goes 10X then we get nearly $1000 in profit. It's huge returns.
Disadvantages on Investing in Penny Crypto Currencies
Those coins are high risky at the same time high rewards too.
Huge Volatile we get always.
Possible to manipulate its price very easily.
Whales always choose those coins for their Pumps and Dumps. Without knowing this Normal people losing their money.
In penny crypto coins, there is a chance to rekt. This means a possible 100% permanent loss in those coins.
It took a very short time for huge pumps/dumps.
How to Select Penny Cryptocurrencies
Before investing in penny crypto curries we need to follow some tips for avoiding the loss of our investments. Because those are high risky and high reward category coins. So follow some tips before investing in those.
Select coins those supply between 10 million to 1 billion only.
Check it's a market cap at least having around $20 to $25 million is a good choice.
Choose coins that are listed in Major Exchanges only. Don't go to newly listed coins in DEXs.
Before investing check their mining supply still now. It's less than 25%, Just ignore it. Because those are very high-risk coins.
Choose coins that have at least $1 million volume in the last 24 hours.
Before investing check their Social Activities, Road maps, Developer details.
After checking all Fundamentals details then try to analyse Technically. If all looking good then invests in penny cryptocurrencies.
What will be the best Penny to invest in this 2021?
For me, I choose OAX, FET, DGCL, COTI, and TRX.
Now I give details why I choose Those.
Why I choose OAX:-
OAX one of the hidden gem in the Defi Platform.
OAX is an open-source project in the polka dot Ecosystem, It all users to participate in their project development openly. This platform started in September 2017.
Its main aim to provide high secure Decentralized finance services to all.
It's an circulation supply of around 76,215,393.58, Don't know its Maximum supply details.
Its time high is around $2.93, but now trading around $0.23.
Due to the dump, it gets, now it is in the accumulation stage, Hope soon it may good.
Why I Choose FET:-
Fetch.ai platform in launched through Binance Launchpad in 2017. Here we can understand this project strength. Because CZ promoting this coin personally.
Its main aim to enhance Internat Of Things(IoT) devices and Algorithm collective learnings.
Simply this project related to IOTs and AI, Bigdata related.
At present 65% of Total supply coins release, and Trading around $0.41. It's an all-time high of around $0.87. So now trading 50% lower than it's ATH.
Coming to Its Road map it looking nice and interesting. In Social Media, they are very active.
On considering all those details I choose FET.
Why I choose DGCL
Digicol is one of low supply having NFT project. All of us we'll know about the NFT project hype in the market. That's why I always invest some amount in those coins.
This project main aim to convert all art into NFTs and helping financially all Artists in a Decentralized way.
Through this platform, Artist may convert their painting into NFT in a single click.
Their website UI is simple and Neat. Their team is very active in Social Media.
DGCL already leased their 100% circulation supply to the market. So there are no further coins to mine.
It's total supply around 165,000,000.00 coins with $13,242,323 Market cap.
At present It trading at around $0.07, It's an all-time high of around $1.04. At present around 92% dump, it gets.
But I have full confidence in this project that's why I always add this coin to my portfolio in every dip.
Recently this project partnership with Poly Network for providing Cross Chain Transaction Solutions To NFTs. If it came alive, they we can Transfer NFTs from one network to another network very easily.
On considering all those reasons I choose DGCL coin for investing.
Why I choose COTI:-
Coti is one of the first and most interesting projects in the Crypto Market. Its main aim to enhance organizations to built their payment system through Digital way.
One more important thing is Coti Project is World's first blockchain project build for enhancing decentralized payments for organizations. This platform all so designed to use by merchants, governments, payment DApps and stable coin issuers.
At present only 33% of coins in the market with a $191,109,965 Marketcap.
At present Trading around $0.28, It's an all-time high of around $0.574. So trading 48% low price now.
Still there 12 upcoming events for Coti.Those giving huge hype to this project.
On considering all those reasons, I choose Coti for investing.
Why I choose TRX
Without TRX, my portfolio not filled. Because it's one of my most favourite coins. I always hold for the long term. But still, now it not performed well, so strongly believe one day it beat all coins.
At present it trading around $0.08 with $6,510,958,257 Market cap.
At present, it having nearly 71.66B coins in the market. Out of Total 100,850,743,812.
Coming to Social Activities Justin sun is very active, And always in touch with users.
But for Transactions Tron Blockchain is a good choice because of its fastness and low Transaction fee.
On considering all those reasons I choose TRX for investment.
Ripple (XRP) analysis
XRP is of the most favourite currencies to all. Because of its Usecases, Development Team. Because of the lawsuit issue, its price crashed. Otherwise, we can see XRP in $7- $10 price dut now Trading $1.17.
Due to this issue, All Exchanges Stop trading, banning all those that happen 3 months back. But people believe this project that's why now it slowly start recovering.
After the crash XRP price goes nearly $0.17 but now trading $1.1 to $1.8 range. It shows its strength but still issues about Lawsuit going on. For getting final rests it took time.
In the meantime, anything will happen in the crypto market. I strongly believe Ripple win this case. Soon we can see a big move from here onwards.
But investing in this price is very risky. But we expect at least 70 to 90% pump in Mid Term. RiskTaker can take the position.
But no recommend, to invest this coin. We have a lot of other good project coins, we can invest there.
But I am a risk-taker so I invest 100$, 1 week back around 1.5$. Now in loss around $35. Hope XRP recover faster, Because of Technically Chart Looking Good.
Due to suddenly BTC crash all Alts Dumped hard but XRP does not dump that's much. It-dumps up to $0.83 them bounce back. Now Trading $1.1.
Slowly some positive news also arriving about Ripple. Recently it's a partnership with We’re excited to announce Egypt’s largest bank @NBE1898 for payment needs. All those giving a Little bit of positiveness on ripple. But little bit risky to enter now.
But still, a lot of users use funds Transfer in different Exchanges in the XRP coin way. Because of its Secure, Faster and Low Transaction fee.
Now for USDT transfer in TRC 20 network also need to pay $1 but on using XRP its fee reduces to $0.3 or more than low that.
Binance for withdrew XR, no fee now.
All those things give the confidence to take a position in XRP, but only Trade in Spot, don't go Margin or Future for like those coins.
On considering all those, I invest some amount in XRP.
My 5 penny Cryptocurrency Investments
For this I use 103$, in each coin, I invest around $20.
I choose OAX, FET, DGCL, COTI, and TRX. Why I choose I already explain in before.
For tracking profit/loss I use the Blockfolio application. Using this application we can track all most available coins in one place.
This application is very useful for monitoring our portfolio, based on this we can make our decision.
I buy all coin around May 19, Before the BTC crash. Due to this crash, all coins dumped hugely.
But now the market going good again, Alts also start recovering. Hope all give good returns soon.
Those I invest for long term holding, So I don't worry about seeing a sudden market crash.
At present all my penny couns dump to 10 to 20% only. So I get a 10% loss from my Total Investment.
This Time penny coins do not dump that much, only High cap coins dump hard. It's a good sign for penny crypto coin holders.
Hope soon I recover from my loss within 2 days. After getting good returns I exit my position.
All Screen Shots Taken from Coinmarket cap and Officisl Sites of Projects,Then I edit As per Need.
Conclustion:-
Investing in penny currencies is a good choice for getting good returns but high risk.
Don't invest all Penny currencies, Always select good potential projects only.
Select coins which are trading in Top Exchanges.
Simply Penny Crypto curries are high risk, high reward coins. Invest 30% of the portfolio only in those coins.
At present investing in XRP is not a good choice, but risk-taker can take the position. But not recommend for all.
Due to sudden yesterday Market crash all coins dump more than 50%, but penny currencies dump only 10 to 20%. It showing its strongness in the market.
Due to crash my Investment in penny crypto coins also dumps 10 to 15%. So I got a 10% loss in my complete investment.
Otherwise is possible to get at least 20 to 30% profit from those in the Short term.penny curries give good returns in long term, so always set your goals based on it.
Hope I finish all my Tasks, If any pls verify me.
Thanks For Reading My Post
Gracias por participar en Steemit Crypto Academy:
Buen trabajo, pero muy desordenado. No vi la pregunta 2. La uniste con la pregunta 4.
Espero seguir leyendo tus publicaciones. No colocaste el nombre de usuario a las gráficas y captures de pantalla.
Calificación: 6.6
Thanks for verifying
Entiendo tu preocupación y tu arduo trabajo, pero te explico:
La pregunta 2 es ¿Cuál será la mejor penny para invertir en este 2021? Explique.
Tú eliges 5, pero no me dices cuál es la que escoge. Es 1, no son las 5.
La pregunta 4 es: Presente en detalle las 5 penny:
Supongo que son las que defines en la pregunta 2 y por eso te di buen puntaje.
Por otro lado, no haces el paso a paso de la pregunta 5, solo das un resumen de tu inversión y sin embargo, te di puntuación. Lo cual no estaba correcto.
Es importante leer la pregunta y responder lo que se pide. Mi intención es que todos salgan bien, pero deben responder lo que se pide.
Gracias.
Now i understand your questions. What mistake i made. Thanks for detailed explanation.
Then after I dont repet those.
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