How To Find A 100x Altcoin
Looking to get rich quick? Crypto could be your answer!
By now, we’ve all heard a story of some person buying into a coin only for it to skyrocket the very next day. Becoming an overnight millionaire from crypto is the ultimate dream. But is it just that — a dream?
It’s a volatile market and anything is possible. However, the secret to finding a 100x altcoin does require some work. Of course, you could just get lucky. Or you can increase your chances of becoming an instant crypto millionaire with these simple tips.
The first step for uncovering a potential 100x altcoin is to evaluate its market capitalization. In crypto, a coin’s market cap simply means the total value of all coins in circulation. This is found by multiplying the circulating supply by its current market price.
Don’t worry, there’s no need to calculate this yourself. Websites like CoinGecko and CoinMarketCap do it for you.
On these sites, it’s best to search for coins with a medium to low market cap. Thresholds often vary, but I prefer to skip anything higher than 1 billion and typically aim between 5–10 million.
Next, I consider the coin’s trading activity and accessibility. If a coin isn’t being traded or is too hard to get, chances are it won’t be going to the moon anytime soon.
To view a coin’s recent trading activity, you’ll want to reference its 24-hour volume. Use this metric as a guide rather than a hard cut-off; it’s more or less a way to gauge interest in the project.
A low trading volume can also indicate a coin isn’t readily accessible. This is why after assessing volume, I’ll check its listed exchanges. I look for a coin to be listed on reputable, big-name exchanges. This includes Binance, Coinbase, Kraken, and Ku-Coin, to name a few.
Now, this doesn’t mean coins listed on smaller DEXs are bad. It just means they’re harder for most (general) people to obtain.
One thing I’ve come to learn is that even a coin that checks all the previous boxes can still be discounted by one important factor — Token Allocation.
Always check for an even and fair distribution of coins. If shareholders, employees, or even a single address owns a majority portion, they can easily dictate the price.
Once you’ve got a basic understanding of the coin’s activity, it’s time to do some more digging. Binance Research and Messari are great resources to help with these next few steps.
I firmly believe in investing in coins with true technology backings. Using those websites and my own research, I can form a basic idea of the company’s concept, if any at all.
Of course, there are pump and dump schemes and memecoins that make people rich. But those also come with a heavy probability of getting REKT.
Once I’ve gathered an understanding of a token’s real-life use, I’ll take my research even further by checking the whitepaper, the company’s website, social media following, and Github repository for development activity.
I’ll also make a note of notable investors, partnerships, and the members of the team to check out their backgrounds using LinkedIn, Google Search, etc.
More often than not, while I’m Google searching for the staff members, I’ll come across news articles or other content related to the company. This can give you a general consensus of the public opinion, or what some would call the Sentimental Score.
Negative public perception is a red flag in my book. And even if I’ve made it to the final phase of my research, I’d rather pass on investments that others are calling scams.
There you have it folks — the steps for separating good projects from the bad, and how to uncover a 100x altcoin.
May the odds be ever in your favor! — Crypto Blondie.
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