Buy a new altcoin and earn 1000 times your profit

We all sometimes think about how nice it would be to buy Bitcoin for a dollar and sell it now for 100,000 per coin.

If you invested just 10 US dollars in the first cryptocurrency in 2011, you could become a millionaire by selling those 10 bitcoins.

After such reasoning, I want to try to find a similar asset that can generate the same profit as Bitcoin, even if it takes a couple of decades.

Today, we'll explore how realistic it is to implement such a plan in the current climate and how much you can lose or gain from risky investments.

Buying new, still illiquid altcoins is quite popular among many investors. Especially since every day, news feeds are filled with calls to invest in this or that token and make millions.

Are new altcoins worth buying?

With over 5,000 new cryptocurrencies created daily, the investment options are enormous. However, not all new assets appear on exchanges, as the listing process is quite expensive.

Logically, to really make money, you need to buy inexpensive altcoins, as they have great growth potential.

It's unlikely that a coin with an initial price of $1,000 will quickly increase in value tenfold, let alone a hundredfold or a thousandfold. But beyond the initial price, the number of coins in circulation and current market capitalization

For example, take Dogecoin, which is only worth $0.22, what would it take for it to grow 100 times and reach a price of $22?

But there are a huge number of coins in circulation (approximately 150 billion), and Dogecoin's market capitalization is currently $34 billion. This means that if the cryptocurrency were to increase in value 100-fold, its market capitalization would reach $3.4 trillion, surpassing Bitcoin. This represents the entire cryptocurrency market capitalization today.

If you buy a new coin, the likelihood of losing everything is much higher than making millions. For example, in 2024, 46% of issued cryptocurrencies significantly fell in price or completely disappeared from circulation.

In addition, a huge number of scam projects have emerged that collect money and disappear without even appearing on crypto exchanges.

Investing in Lesser-Populated Altcoins in Practice

About three years ago, I invested over $1,000 in new altcoins that were inexpensive and had just appeared on Binance.

Three years later, only half of the purchased tokens remained on the exchange; the rest were delisted and disappeared from trading, and the remaining 10 had plummeted in value. As a result, only $60-70 remained of the $1,000 invested.

If I had bought Bitcoin at that time at $50,000 per coin, the profit would have been 100%, since the coin has doubled in price in three years.

Therefore, if you do not have verified information that a particular altcoin will grow, it is better to buy more liquid and popular cryptocurrencies .

However, the best way to earn money with cryptocurrency is through short- or medium-term trading, which can increase your deposit several times over.

For example, Ethereum and Solana currently offer good opportunities for earning money. The optimistic forecast for Ethereum is $7,000 per coin, with the current price being $2,600, while Solana, according to experts, could rise to $500, with the current price being $180.

This means there's still a unique opportunity to earn 2.5X on these popular cryptocurrencies. It's not 1000X or even 10X, but it's a more guaranteed return than buying dubious altcoins. And you can always use leverage .

Brokers for trading Ethereum and Solana - https://time-forex.com/kriptovaluty/brokery-kriptovalut