How to Find the Best New Cryptocurrency Coins
Are you an experienced crypto investor or a beginner? Do you look forward to purchasing the best cryptocurrency coins that can yield the best profit? Finding the best crypto coin for investment can be overwhelming especially if you are just starting as there are thousands of different crypto coins. There are presently over 19,000 coins of them in the market.
A research shows that as of 2021, the global crypto ownership rates is at an average of 3.9% , with over 300 million crypto users worldwide. And over 18,000 businesses are already accepting cryptocurrency payments. Some people buy cryptocurrency, while some make it a long-term investment. However, unpredictability makes investing in cryptocurrency dangerous.
Here, I will show you how to find the best cryptocurrency coins.
Why You Need to Buy the Best Cryptocurrency Coins
When the matter of cryptocurrencies is mentioned, the main points seem to be around the victory of the most sucessful currencies. You often hear about the most productive cryptocurrencies, and how digital currencies make internet value possible among other things.
The world of cryptos is promising bright and well-known, but there is also a whole universe of cryptocurrencies that hardly survived the volatility of the market. Cryptocurrency market has exploded over the years, making room for new coins to come into the scene. However, many coins have failed over the years.
Some coins failed because of;
- Unethical character
- Bad security
- Poor publicity
- Unclear progression paths
- Lack of business plan
- Scams and fraud
Example of coin that failed.
Boringcoin (ZZZ)
The Boring coin was launched in 2004. It ensured no effect, no lump, and no drama. Many people believed that just as it was named, the coin had no purpose and was boring and that was why it failed.
GetGems (GEMS)
GetGems was established by Daniel Paled. It was an app that allowed people to send and accept Bitcoins via messaging. GEMZ also allowed its members to earn more money by working as affiliates. The company raised $1 million for direct investment and funding and its price reached $0.0579 in 2017 but it couldn’t scale. GetGems still rewards its audience for viewing ads but its original purpose of existence has been abandoned.
NanoHealthCare Token (NHCT)
NanoHealthCare Token was created in India by Manish Ranjah. It was built as an approach to use blockchain to improve the healthcare industry. The token was to solve for health care challenges such as high priced equipments and the data security of patients. . NanoHealthCare token couldn’t beat the odds and later failed.
How Do you Know the Best New Cryptocurrency Coins
To buy the best cryptocurrency, you need to make research:
Know the Founders
It is risky to be ignorant of the founder of the coin you want to invest in. You need to make research on the founder of the coin to ensure they have no record of fraudulence. If they have a good record. The coin is good to buy.
Be Convinced of the Business Plan
A good cryptocurrency must have a good business plan. So before putting money, make it expedient that it has a good business case. And you need to know the problem it is solving and how to solve it. Also, endeavor to understand how to mine the new coin and secure blockchain.
Search Social Media
Social media is where you can always get the latest trending information. And, Twitter is one of the best social media platforms where US cryptocurrency founders and developers can be found. Many developers reveal information about their cryptocurrency and new developments on Twitter. If you have signified an interest in receiving cryptocurrency-related tweets, Twitter will give you lots of crypto updates on your feed.
Telegram is Also a Good Platform
A very good way to know the bad and failing coin is an outdated website. Having no update for several months, or a dormant Twitter feed. You should get to know if the coin has an active presence online and can have a good community following.
Visit a Cryptocurrency Exchange Site
When you buy coins that are endorsed on popular cryptocurrency exchange sites, you have some degree of confidence about the coin. They are one of the authentic sites to find the best new coin. For example, Coinbase does this by putting a coin list on its website. But you have created an account with them. You can also check Binance for the new list of coins. These cryptocurrency sites take due diligence on the coins they list, however they could easily list a coin on their site if the coin becomes popular.
Check Websites
There are many authoritative crypto websites that release updates about coins that have just been released. Checking out these websites will be helpful so you can get enough education before making a purchase.
Check Aggregators List
Many crypto aggregator reveals up-to-date data on particular cryptocurrencies. This Cryptocurrency Aggregator lists are very helpful in locating the best new crypto coins. For example, CoiGecko and CoinMarketCap compiles metrics about both new and existing coins and reveals how they are faring. Indices such as their market capacity, their prices, and trading volume will help you get some information to know the view of other investors about the new coin and if it has potential.
Visit Defi PLatforms
People have started buying cryptos on Decentralized Finance (DeFi) platforms These platforms are like common finance marketplaces, the only difference is that they operate with smart contracts. Some Defi platforms such as AAVE, MakerDAO increase the efficiency of their networks with natural tokens.
Some Best New Cryptocurrencies Coins You Can Buy
Avalanche
Avalanche is the finest new coin to monitor. As an Ethereum substitute, Avalanche has risen so fast. The speedier and more versatile network will also be advantageous to developers who seek to create decentralized products. Additionally, Avalanche has a competitive advantage because it charges very small service fees in comparison to other networks. The network operates from three different blockchains which affords it this opportunity.
Avalanche also has a strong network that prevents hacking or other fraudulent trades. It uses a directed acyclic graph (DAG) consensus algorithm which makes it so secure. AVAX, the network’s native coin, is employed for service fees and authentication. Many cryptocurrency active traders have recently become interested in the coin because of its great potentials.
DogeCoin
Dogecoin isn’t one of the newest cryptocurrencies available, yet people still regularly select it due to its affiliation with meme coins. Investors from all over the world continue to buy Dogecoin because of the robust community interaction it receives from well-known individuals and on social media. One of the most well-known individuals to support DOGE is Elon Musk, who has tweeted about the token frequently.
Dogecoin has lagged in recent reports as a result of Musk’s claim that DOGE is a pyramid scheme. The issue has enhanced the token’s image, though, and in more recent years, double-digit earnings have come as a result. Dogecoin is still among the best new cryptocurrencies for adventurous investors aiming to outperform the market, in the end.
Lucky Block
Lucky Block is one of the new crypto lottery platforms created on the Binance Smart Chain. It was released at the onset of 2022 and it is presently making some significant results.
The goal of this crypto is to revolutionize the $330 billion gambling industry. Though it sounds impossible the developers have built a great method to get it done.
Beginners, they already found a way to provide players with full clarity and utmost fairness by utilizing the power of web 3.0 decentralized networks. In the Lucky Block prize draws, they randomly produce winners produced in a verified means, which means that all players have an equivalent opportunity of receiving the amazing prizes.
Not only that, but the players can also cast a vote on where the generous contributions should go, by showing off the donation on the general blockchain.
Since the draw was executed on the blockchain, the whole operation is much more efficient, which now improves the chance for the ticket buyers.
Additionally, Lucky Block also pays a token proportion to each BLOCK user equals 10% of every jackpot. This gives investors a way to earn passive income even if they aren’t enthusiastic about participating in the draws.
Ever since it was launched, Lucky Block seems to have succeeded. Early investors have made a profit of over 12,000% in less than a month after it was released.
Lucky Block attained $3.4 million in trading volume the first day they released it and it’s one of the fastest cryptos ever to surpass $1 billion in valuation.
How To Avoid Being Scammed When Buying Cryptocurrency Coins
Scammers always look for modern means to defraud your money, and the great development of cryptocurrency in the latter years has produced a lot of chances for fraud. Cryptocurrency fraud had a record-breaking year in 2021 according to the news by blockchain data firm Chainalysis, fraudsters stole that year.
Here are some ways to avoid cryptocurrency scams:
Never Accept any Information at Face Value: Scrutinize the claims around any investment, especially if they seem too favorable to be valid or guarantee overnight success. The 2020 Twitter hack had a scam inscribed all over it.
Do Your Research: The most common cryptocurrencies are not scams. But if you are new to a certain cryptocurrency, research it to see if there is a whitepaper you can study, know who runs it and how it works, and look for authentic reviews and testimonials. Look for an updated and credible fake cryptocurrency list . Don’t believe any government administrator, strangers, or public figures who reach you shortly asking for payments in cryptocurrency or granting
Conclusion
Cryptocurrencies are nice resources to invest in but finding the best is expedient. We have many cryptocurrencies and many crypto scams out there but you must make your research before investing, and never invest with capital you cannot forfeit.