The list of available cryptocurrencies is constantly growing and making your choice can quickly become a headache. How do you know which crypto to buy today and how to spot promising new nuggets that could perform?
Can we still do a x100 on a crypto?
It is useless to hide the face, the majority of new investors are entering the cryptocurrency market to make big profits. Nevertheless, the more the industry advances and the more the possibility of generating significant returns becomes rarebecause the capitalization of the main cryptocurrencies is more and more substantial.
So is it still possible to make an x100 or an x1000 on a crypto? The answer is yes, but it involves take a lot of risks. Indeed, to find the crypto that will explode in 2023 or in the next few years, you have to invest when its capitalization is low.
First, it means that you have to do a lot of research to find promising cryptos before the others. But above all, it requires in-depth research. to make sure the project is serious and that the founders aren’t going to run away with your money.
In other words, making a huge capital gain in crypto is always possible, provided you know where to look and are willing to take huge risks. But then, how do you know which cryptos to buy right now?
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King Bitcoin (BTC)
The cryptocurrency market already represents, by nature, a risky investment. Thus, it is preferable to stick proven cryptos and which are most likely to still be present in the industry in the decades to come.
To this account, how not to mention Bitcoin (BTC)? First crypto to have persisted over time, bitcoin still remains at the first position in terms of capitalization.
With a capitalization that exceeds that of all other cryptocurrencies, it is true that its growth potential is increasingly weak. However, Bitcoin is the safest asset in the cryptocurrency market (excluding stablecoin) and represents a unique store of value : indeed, bitcoin is rare. There won’t be never more than 21 million units.
Unlike fiat currencies, there are no central banks who can decide to print new bitcoins. This is extremely important, especially in a context of galloping inflation where prices are rising and the value of our heritage is falling.
Bitcoin can also act as a digital currency, and some countries have understood this. This is particularly the case of El Salvador and the Central African Republic, which have made legal tender in their territories. In the current macro-economic context, there is a good chance that other countries will follow this path.
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Ether (ETH): the future after The Merge?
Already 2nd most capitalized cryptocurrency of the market, Ether (ETH) and its Ethereum blockchain experienced a historic update in 2022 that was eagerly awaited by the ecosystem. baptized The Mergethis enabled the network to transition towards the consensus of Proof of Stake (PoS)much less energy-intensive.
Concretely, the future stages of this revolution will make it possible to reduce costs by more than 90%, while multiplying by 10 the capacity of transactions accepted by the network. In other words, it is a necessary step towards adoption by the general public.
At present, the majority of decentralized finance (DeFi) is based on Ethereum. Moreover, it is the first blockchain to have introduced smart contracts, one of the most revolutionary features of our ecosystem. In other words, in its new form, Ethereum will revolutionize many industries.
To invest in the most effective way, we advise you to use the strategy of Dollar Cost Average (DCA). Concretely, this consists of investing a small sum at regular intervals in order to smooth your entry price and expose yourself to a minimum of market volatility.
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How to find promising crypto nuggets to buy now?
How to choose the crypto that will explode?
To find the next crypto that will explode, here is some advice :
- Have a good understanding of the ecosystem;
- Know the keys to the success of cryptos from the top 50 of the market;
- Follow cryptocurrency market trends.
The first tip for finding cryptocurrencies that can perform, is to have a good understanding of the ecosystem. Some cryptos are related to decentralized finance while others are specific to infrastructure projects (first or second layer blockchain): you have to know how to differentiate them.
It is essential to be familiar with the different sectors of activity of the cryptocurrency ecosystem in order to to understand correctly and in depth the projects in which you plan to invest. This will help to know which ones are serious within each category.
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The second advice is to find out about the crypto currencies that are today in the top 50 of the largest capitalizations. Ask yourself the question: what are the keys to their success? Then, when you discover a project working in the same sector of activity, you will be able to understand its potential added value.
The CoinGecko site offers a ranking of the most capitalized cryptocurrencies
The last tip is to follow the trends. The cryptocurrency market moves in cycles. On the previous bullish rally, decentralized finance, then blockchains competing with Ethereum, the BNB Chain ecosystem and then NFTs exploded in turn.
The tools to find the promising cryptos of the moment
To find the nuggets of crypto, here some advice important:
- Cryptoast;
- CoinGecko;
- Social networks ;
- The toaster.
How to access information to train and learn about the world of cryptos? The first tool is none other than Cryptoast. In the “Cryptocurrencies” tab of our website, you will find complete files to learn about the main cryptocurrencies on the market.
In the “Courses” tab, you will find all the existing cryptocurrencies with information on their pricetheir capitalization, the evolution of their course and their trading volume over the last 24 hours, as well as many other relevant data to analyze.
The Cryptoast “Courses” tab
To find the next nuggets to invest in, social networks are excellent sources of information: YouTube in particular and especially Twitter. This is the best way to discover promising cryptos before everyone. That said, it will be necessary to be vigilant and to sort out the content.
On the private group Le Grille-Pain, our team of experts – composed for example of Vincent Ganne – offers you fundamental, on-chain or even technical analysis. In particular, you will discover promising young crypto projects.
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In conclusion
As you will have understood, the cryptocurrency market is full of opportunities. It is still possible to make an x100 or an x1000 on a cryptoprovided you do a lot of research beforehand, know where to find information and are willing to take risks.
It should be remembered that cryptos are a zero-sum game. If some win a lot, it is because others have lost so much in parallel. And in this game there are many more losers so many winners. Thus, it is therefore preferable to seek to minimize the risks, in an already very volatile market.
To do this, the best advice would be to favor cryptocurrencies that have already proven themselves : Bitcoin and Ether in particular.
Then, investing in small amounts at regular intervals is the best way to smooth your entry price and minimize your exposure to market volatility.
If, however, you have a “high risk, high reward” investor profile, and you want to find the next crypto nuggets, be sure to be fully informed and to do thorough research.
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Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.
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Journalist for Cryptoast, I strive to dissect every detail of the exciting world of cryptocurrencies and make it accessible and understandable to as many people as possible.
Lilian Aliaga
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