Finding new cryptocurrencies to invest in is one of the most crucial things to do when you’re trading in the market. If you find one priming before it gets pumped, then it becomes that much sweeter. However, this is not as easy as it sounds. In fact, it is extremely hard to find a promising crypto that can pump a lot, especially for people who just started trading. It is for them that we have created this article. Here, we will discuss various ways to find projects that haven’t yet been on the radar of major exchanges yet and how you can gain profit from them.
Why You Should Invest In A Crypto Before It Is Listed?
New cryptos are basically digital assets that haven’t properly entered the market yet. They are usually available on pre-sale or ICO events associated with that coin. During this phase, they are available at a discounted price. Investing in them there can provide you with significant benefits in the long run.
First and foremost, when you invest in a coin during its pre-market phase, the potential ROI associated with that coin is increased exponentially. This can potentially help you with a large amount of profit. Not only that in most cases, the early investors can get their hands on high interest rates when they stake their coins later on.
There is also the fact that new and budding crypto projects can offer users tremendous growth that the much-established coin cannot. Famous coins like Ethereum and BTC are at a stable price right now and are highly unlikely to offer users a huge amount of profit with a limited and relatively low market cap. But you should always keep in mind that the more the profit associated with a crypto project, the more volatility associated with it.
How To Find New Promising Cryptos?
There are over 13,000 cryptocurrencies out there and their count just keeps on growing with each passing day not declining. So to find a new promising cryptocurrency is not as easy as it sounds. That’s why in this section, we will look into a couple of places and tools that can help you land one of these coins. So without wasting your time, let’s get into it.
1. Data Aggregators
Data aggregators in the crypto world are platforms that combine and display data from one or more crypto exchanges or other DeFi environments. They essentially combine blockchain data from multiple sources and integrate them into a single interface, which the users can use to easily understand the data. It not only helps in new emerging technologies and crypto projects but also helps traders make logical and smart decisions. They either utilize APIs, oracles, or dApps to collect the data from different sources.
2. Crypto Exchanges
Crypto exchanges are one of the best and most reliable sources that can help you land info on new and emerging crypto projects. For instance, most exchanges list new cryptocurrencies on their platform, but you may need to set up an account first to access these coins.
3. Social Media Platforms
Social media platforms are widely known for their ability to receive and transmit information fast. This makes it one of the ideal platforms that can provide you with fresh news regarding any crypto project. Out of them, the most ideal one is the X (formerly known as Twitter). In this, you can easily find new cryptocurrency projects and the various announcements regarding these projects. You can also set alarms for specific phrases like new crypto, or crypto releases on X. Another example of a social media app that can provide you with up-to-date info on crypto is Telegram.
4. Crypto News Sites
There are many websites that specialize in providing valuable news on cryptocurrency out there, especially about the recent surges and price predictions. They can be used for the in-depth analysis of the trends in the market and price charts of the coins. The main advantage of doing this is that you can make highly informed decisions based on the data provided on these news sites. They also provide valuable insights on new and upcoming crypto projects and listings. However, if you’re using these sites as your primary information source, then it could backfire as some articles may be extremely biased. Thus, it would always be better if you conduct your own research when considering making an investment.
5. Crypto Forums
Crypto forums are online spaces where crypto enthusiasts come together and discuss various hot topics on the market. These forums can be a valuable source of information for those looking for new and updated information about various new crypto projects and listings. However, you should exhibit caution while referring to these sites so as to stay clear of potential scams and misguiding information.
How To Choose The Best Crypto?
Before you choose the cryptocurrency that you want to invest in, there are a lot of factors that need to be taken into account. The most important thing is to check whether it is just a simple payment method or is backed by a real-world use case or utility. For instance, a token backed by a real-world use case is more likely to be a huge success in the long haul than one that lacks any utility.
Apart from the use cases, there is also the matter of liquidity. This means that you need to make sure that the coin you’re going to invest in has enough trading volume so that you can sell it quickly if the need arises. In essence, while speculating the value a coin might have analyse its supply, demand, liquidity, and potential use cases. If only these factors are to your satisfaction you need to proceed with the investment. Otherwise, you need to keep looking until you find one that ticks all your checkboxes. Or else, you may end up getting a loss handed to you.
