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[Ivanr01]

Hello friends.I want to learn if anyone knows how trade price on cryptocurrencies works ?
I learnt that if anyone buys crypto which aren't famous,their rate increase by 1000%,because their store trade increase...
So it can be gold mine if we invest 1$ in any not famous crypto currency and sell it for 10x price ?
Is my thinking true or I don't know enough for crypto ?

 

[Brain]

I believe you are not wrong but there's also risk why like any other investment. You need to study the market to be sure of when to buy and when to sell too.

 

[KarthikP]

Yeah some people have made big profits by investing in cryptocurrencies like Nano , Zen whose value was very less at starting . Thing is , we should analyze the team and developers behind that altcoin project and if we feel this coin has good potential , we can start investing in that cryptocurrency or maybe claim from faucet. I believe Nano cryptocurrency is best example

 

[jakeri]

If you have a lot of time to do your own research on coins before investing. I HODL my coins because i don't really want to learn to trade but i do my research on coins because i like learning about them.

 

[Bernike]

Investing in a crypto that is only started it's way have a high risk of it no going anywhere... And in the end your invested money stays in a crypto currency that will never have a value. It may be more safe to invest in mayor currencies that will not likely go away. But there is also risk in those, we saw BTC fall to half of it's former price overnight, right?

 

[SCAMEXPOSER]

Investing in a new coin or In a non famous coin is very risky at the same time it could be a mind blowing investment, they do have higher tendency to grow faster. I remembered how xrp raised people.

 

[Mbwolf]

yes it can happened but it's a risk too I remember when ethereum appered my friend told me to take a shot on it and put some money but I didn't and now regret it
also for bitcoin I remember the times when faucets were paying 1000 satoshi an hour

 

[SCAMEXPOSER]

If you watch the different coins in the market and see how they rise and fall percentage wise honestly you will be able to take decision on the kind of new coins you should invest at a time.

 

[RaOne]

well, you can not compare an offline thing with an online thing, gold mine offline is so profiteable even it needs a lot of effort , but the profit is guaranteed, unlike online stuff

 

[SCAMEXPOSER]

well, you can not compare an offline thing with an online thing, gold mine offline is so profiteable even it needs a lot of effort , but the profit is guaranteed, unlike online stuff

Oopps! What the poster meant by " gold mine" is not mining of gold offline rather the profit of investing in new coin could be huge as their prices increases rapidly if one is lucky, not online or offline. Thanks

 

[microunit]

buying and trading at a later time is still not that guaranteed to make you have a large profit, some coins sure start up low price and high price after some time but that will take about a year or so and some other coins don't even go up and even go obsolete after

 

[microunit]

Cryptocurrency is just like any other investment with risk attached to it. You have to study the market though it still won't guarantee a gold mine after investing in new coins.

right, you might just even find yourself losing even more if you don't know as to which coin you are investing and the chances that the coin you're investing in will grow in the future

 

[SCAMEXPOSER]

For you to invest , you must have study the series of new coins to see how they rise and especially when the price of Bitcoin rise or fall, xrp most times do have correspondence rise and fall with bitcoin, so investing in such coin won't fail you.

 

[microunit]

For you to invest , you must have study the series of new coins to see how they rise and especially when the price of Bitcoin rise or fall, xrp most times do have correspondence rise and fall with bitcoin, so investing in such coin won't fail you.

Most cryptocurrencies are directly affected by bitcoin price because most people still exchange those altcoins into bitcoins although some exclusive coins have their own independent prices

 

[SCAMEXPOSER]

Most cryptocurrencies are directly affected by bitcoin price because most people still exchange those altcoins into bitcoins although some exclusive coins have their own independent prices

Yeah , you are right, I studied the trend most times especially for BTC, ETH, BNB, Ripple and litecoin. The percentage rise or fall do differs. For instance if bitcoin rise by +2.1% others could be 1.3% to 1.5%.

 

[microunit]

Yeah , you are right, I studied the trend most times especially for BTC, ETH, BNB, Ripple and litecoin. The percentage rise or fall do differs. For instance if bitcoin rise by +2.1% others could be 1.3% to 1.5%.

yep really dependent you can actually profit big from these as there seems to be a small margin of time whereas when bitcoin price rises there is a bit of time before other related crypto also rises in price same goes with falling price, that is if you continually participate in the exchange it's kinda tedious though

 

[Balint098]

Trading in crypto isn't that simple lol. It can be spiking tenfold but also can slump tenfold. I advise you to learn the basics of trading first before attempting.

 

[microunit]

Trading in crypto isn't that simple lol. It can be spiking tenfold but also can slump tenfold. I advise you to learn the basics of trading first before attempting.

Even the basics of trading will not help you, it is still complicated as there is alot of factors to consider, even big traders are sometimes losing because of price votality

 

[NoExit]

Don't believe if somebody promises you x100 profit.
Mainly it's just a luck and nobody can't predict it.

 

[microunit]

Y

Don't believe if somebody promises you x100 profit.
Mainly it's just a luck and nobody can't predict it.

Yep it's mostly luck especially in trading cryptocurrencies . Though some pro traders accompany luck with years of data and statistics to somehow predict the range of what's the price gonna be