What altcoin should I invest in to get rich? What altcoin will make me rich?
Such questions pop up all around the internet and when you see the answers you surely end up being more confused than when you first started looking for such information.
The problem is that there are so many trying to make money with cryptocurrencies at the moment that the advice you will find will be contradictory. Everyone will share the experience they have. Since there are hundreds of altcoins and new ones are launched all the time, countless advice appears.
The best advice that everyone can tell you at the moment about the subject is:
The safest bet is to invest in Bitcoin. Then, Ethereum. Then, Litecoin.
Now let’s dig a little bit deeper.
More Risk Equals More Rewards
Most of the advice you find on forums is about some new altcoins that were recently launched or that will be launched. For instance, now there is a big talk around B3 and before that we had talks about BTX, with BTX actually being a good investment I made ($10 per coin when started and $35 per coin when stopped).
These investments have a huge earning potential but you should understand the fact that you can lose a huge part of your budget if things go wrong.
If you are a beginner, the best thing you can do is to opt for the established coins, the ones that you can find out a lot about. They will bring in a smaller profit on the long run but risks are also a lot lower since the coins are already established and fluctuations will not be as high. With coins that just appear the big problem is they spike fast, reach a top point, then drop fast and never recover. If you do not act really fast you lose a lot of money and you cannot recover from that since the coin will never go back up.
The Key To Success Is Research
You will hear this about basically anything you want to do online and offline. It is very important that you learn as much as possible about trading cryptocurrencies before you start and that you get enough information from trusted channels so you can choose what altcoins to invest in. This is not easy to do.
Join as many forums as you have the time to visit and learn from. Also, if you get a “hot tip” from anyone, do not blindly trust it! Do your own research.
Most people lose money investing in altcoins. You will be one of them if you do not know what you are doing.