Don't get lost in the crypto world. If you are new to crypto, or the crypto is new to you, take a deep breath! Don't just fall for any crypto just by seeing Bitcoin's price.
There are thousands of crypto coins around the blockchain. And you're confused about which crypto will be best, whether you will invest or not. Today I will share some of my thoughts and insights, which may help you decide.
You may hear the story of Changpeng Zhao, founder of Binance. He was a hungry investor and was looking for something to do like you and me. In 20213, a friend of Zhao named Bobby Lee, who was the CEO of BTC China, suggested to Zhao that he should convert his net worth 10% to buy Bitcoin. He also mentioned that if you lose, you will lose 10% of your savings, but if you gain it, it would be more than 10x of your deposit, which is double your net worth.
And guess what! He didn't invest 10% of his net worth; he invested almost 100%! He sold his apartment, quit his job, and took a severe risk! Before that, he tried to study Bitcoin, but there weren't enough resources like today.
Now look at him; he just turned zero to billionaire over a year.
Of course, his success story is appealing but don't fall for this now. That was then when there was not enough information about Bitcoin. And if you and I were in his place, I can guarantee that we would never do that. If you look at the history of Bitcointalk, you'll see that back then, most people thought Bitcoin was going to be banned. And almost 90% of the trader doesn't have enough courage to hold it for long.
So, better forget about going back in the time through a time machine and buying Bitcoin. That's not going to happen! Come to the reality.
The reality is the situation is different now, and it's not easy nowadays to stake everything and earn like Changpeng Zhao. We missed our opportunity. But it's also true that opportunity always comes to those who analyze, learn, and willing to take the risk.
Now investing in BTC is less risky, and return is also less than before. People nowadays aren't afraid to invest in Bitcoin.
Read Also - If Doge can Go to The Moon, Ripple will Go to The Mars!
If you are interested in medium risky investment, you can go for Ethereum, Binance coin, etc. But if you want to make big like Changpeng Zhao (Almost like him), you have to try high reward but high risky cryptos.
High risky cryptos can give you 100x returns but also can provide you almost nothing. Finding these types of coins is hard. And it can give you the fear that Bitcoin gave ten years ago. It's gonna make you rich or nothing!
It's better to look for a promising ICO if you want to get a 100x return. You can research all upcoming ICOs using ICODrops.
Casper(CSPR) is an excellent example of high risk, high-return cryptocurrency. In the ICO, they offered 800,000,000 CSPR for sale for the price of $0.015 on 23 March 2021, which was just 26 days ago. They offered the second and third phases of ICO within the same month with a little bit higher price. During the ICO, they totally provided 16% coins of their total supply.
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At the time of writing, (18 April 2021) price of the CSPR coin was $2.90. That means if you would have invested $1000 on the first phase of ICO, then you could have got 66,667 CSPR coins, which price is now $193,000. You calculate the percentage of return by yourself.
But wait!!
There was a risk that you could have lost $1000 even after Coinlist listed the ICO. Recently people are blaming Coinlist for listing Ponzi coins. And it's now listed on an exchange site name Bitz which isn't that famous. At least I didn't hear the name before.
And another bad news - Despite the surging demand for Casper's token, a former employee filed a lawsuit against CapserLabs, accusing the team of distributing misleading marketing materials ahead of the sale. Source
So you see, there is a very high risk for a very high return. So my suggestion is to all new traders is to study well before risking your money. If you have enough money to gamble, then go for High risky coins like Casper. But if you are a trader like me who wants to play slowly and earn slowly, then invest in low risky coins like Ripple(XRP), Stellar(XLM), Hive(HBD), Leo, etc.
This is not financial advice. Invest at your own risk. Better study and use your brain before investing in the crypto market.
Posted Using LeoFinance Beta
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