Cryptocurrency: how to identify and buy top coins at cheap prices

The world economy is gradually being affected by the activities in the cryptocurrency industry. With a combined market capitalization of over $400 billion, cryptocurrencies are making many millionaires on daily basis. Sadly, so many young people are on the fence, with their potentials totally annihilated by the fear of what they do not understand. The first step to venturing into the crytucurrency trade business is understanding the dynamics of the market and its forces. Since cryptocurrecy trading involves the buying and selling of cryptocurrecncies, it is very important to know what currencies to buy and why. In this piece, I will share with us, the top performing coins to buy at cheap prices but with potentials to rise in dollars within months and make you a millioniare.
Crypto currency

 

This article was put together considering the cost of the coins at the time of this publication and not at the time the reader is reading this article. For most new comers to the cryptocurrency business, it is normal to have or be willing to invest little amount of money into the business. When I started, I was only willing to invest $100. That was what I was willing to lose at that point in time. With such amount of capital, you need to get hold of large units of coins to to be able to make considerable profit within short periods. If this is the case for you, then you need to know what coin to buy.

Factors to consider before buying a coin.

1. Position: before buying any coin on any exchange platform, it is highly recommended that you look up its position on coin market capitalization. Coinmarketcap.com is the hub of cryptocurrency traders. Its importance in determining currency performance can not be over emphasized. New entrants to the cryptocurrency business are most likely to purchase coins listed in the top 100 on coinmarketcap and thereby aiding a rise in the value of those currencies.
2. Price: When going into cryptocurrency trading, it is advisable to put an amount of money you can afford to lose. This is because you may make some mistakes leading to loss of money at the beginning, but eventually, the gains will start rolling in once you have mastered the act. This advice notwithstanding, tends to work against the plans of anyone willing to go into trading. To make gains on trading, you are to acquire a large amount of a coin at a lower price and sell when the price is high. With little capital, you need to look out for coins listed in the top 100 whose prices are as low as $2, believing in their potentials to rise within days or months.
3. Market capitalization:
this is the total worth of all available units of the coin under consideration. It can also be seen as the total amount, in US dollars, that investors have invested in the coin under consideration or the total amount that can be made from the sales of all available units of the coin under consideration. Knowing the amount that investors have committed into a particular cryptocurrency reveals the strength of such currency while providing some level of assurance on the longevity of such currency in the market.
4. Volume of trade: the volume of trade is the total amount spent on buying and selling of the coin under consideration in the last 24 hours. With a high volume of trade, it means that many investors are actively involved in transactions using the coin, and assures one of the readiness of others to buy off the coins once they are put up for sale. The higher the number, the better and more chances of the coin rising.
5. Amount of coins in circulation: this is the amount of coin that the manufacturers of that coin have released into the market. Here, the smaller, the better. Remember that when demand exceeds supply, there will be a rise in price. When the amount of coin in circulation is small, it will trigger a high demand for the coin, leading to a rise in the price of that coin.
Coins to look out for: After careful analysis of the market forces, most of which have been listed and explained above, the following coins are the coins to look out for.
#
Coin
Market cap
Price
Volume(24 hr)
Circulating supply
Change(24hr)
1
NEO
$7,320,950,000
$112.63
$354,500,000
65,000,000 NEO *
-0.41%
2
EOS
$6,115,040,525
$9.27
$703,192,000
659,669,135 EOS *
7.96%
3
Qtum
$2,244,373,705
$30.38
$503,709,000
73,871,336 QTUM *
3.23%
4
Zcash
$1,512,295,798
$465.61
$124,883,000
3,247,981 ZEC
9.15%
5
Enigma
$219,133,779
$2.93
$22,528,300
74,836,171 ENG *
16.90%
6
Bancor
$210,531,298
$5.29
$9,267,480
39,820,484 BNT *
6.29%
7
WAX
$201,155,029
$0.408060
$7,569,430
492,954,537 WAX *
28.93%
8
Litecoin
$8,920,010,671
$161.73
$660,721,000
55,154,058 LTC
9.12%

 

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Timigate

Ashioma Michael, a BSc (Computer Science)., MTCNA, CCNA, and CCNP holder with many years of industry-proven experience in network design, implementation and optimization. He has tutored and guided many professionals towards obtaining their Cisco certifications. Mike works as a senior network engineer with one of the leading internet service providers in West Africa.

5 thoughts on “Cryptocurrency: how to identify and buy top coins at cheap prices

    • February 16, 2018 at 5:21 pm
      Permalink

      Sammy,thanks for wanting to know more about cryptocurrency. There is a huge potential in it. To your question, market cap is the current value of a coin multiplied by the total number of that coin in circulation. For example, bitcoin is worth $10,157 and the total bitcoin in circulation is 16,868,425. Therefore, the marketcap for bitcoin=10,157 x 16,868,425 which is equal to 171,332,592,725.

      Reply
  • February 19, 2018 at 2:32 pm
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    Thanks a lot never really thought of it that way.

    Reply
  • February 27, 2018 at 10:36 am
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    Request is probably going to ascend as the aggregate creation of bitcoins is to be restricted to 21 million as it were. Japan has just sanctioned it and different nations may tail it soon and the cost may climb further. Get More information

    Reply

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