Cheap cryptocurrencies, bright prospects for earning money or wasted money
Many of us have more than once regretted that at one time we did not buy a couple of bitcoins at a price of 3 cents apiece and missed the opportunity to make good money.
But not everything is so bad, with the advent of new, cheap cryptocurrencies there is also a chance for record profits, who knows, perhaps one of the altcoins will repeat the fate of Bitcoin and rise in price several thousand times.
Surprisingly, this has already happened more than once; for example, the same Ethereum at one time cost less than 1 US dollar, but now its price is 4 thousand.
At the same time, there are also cryptocurrencies that have risen in price not long ago; the same Polygon, which cost $0.03 at the beginning of the year, has risen in price 75,000 times over the year and now its price is $2,270.
Therefore, we can say that there is a chance to get record profits and now the main thing is to choose the right asset, otherwise the money will be wasted.
Criteria for choosing a cheap cryptocurrency:
• Price – it should be as low as possible. If you buy a digital currency at a price of $1,000 per coin, it is difficult to imagine that it will rise in price 1,000 times and become worth $1 million.
Therefore, it is advisable to buy something that costs less than 1 US dollar, since such assets have the highest growth potential.
• Capitalization – in this case, the cryptocurrency should not have a high level of capitalization , that is, too much money should not be invested in it.
There is a simple logic at work here, let’s take the same Dogecoin, which is currently quoted at $0.18 and seems to have room to grow. But its capitalization is already 23 billion.
Let’s assume that Dogecoin has risen in price 1000 times, which means its capitalization will reach $23 trillion and overtake Bitcoin, and this is simply not realistic. Yes, Dogecoin may still rise in price, but this will not be the record growth that we are counting on.
Therefore, we invest in cheap cryptocurrencies with a capitalization of less than $1 billion.
• Popularity – the more often a cryptocurrency is mentioned in the news and on forums, the higher the chances that they will begin to “Pump” it by pouring money into it to increase the market price.
Take the same Dogecoin, which attracted attention due to its originality and advertising campaign on Tik Tok.
Another important aspect of making money on cheap cryptocurrencies is diversification ; you should not invest $1,000 in one asset and hope to become a billionaire. It would be more rational to divide this thousand between 100 cryptocurrencies by investing $10 in each.
Buying cryptocurrencies is a kind of lottery and the more assets you buy, the higher your chances of success.
What cryptocurrencies can you buy now? If you count on long-term investments, then the interesting ones at the moment will be WAX, Ankr, IoTeX, NEM, Holo and cryptocurrencies with even smaller capitalization.