Bitcoin Alone Might Not Make You Rich.
Here’s How to Spot A Promising Cryptocurrency
If you’re a new crypto investor, you probably know a little about Bitcoin already. Many people will also be telling you about how great Bitcoin is.
To be fair, Bitcoin is great. It was the first cryptocurrency to be launched, and it has benefited from that power of incumbency. Also, Bitcoin’s resilience was the reason why we now have over 7,000 cryptocurrencies in the world right now.
But, this is 2022, and the crypto market has moved way beyond just Bitcoin. Take last year, for example. Bitcoin did well, delivering 60 percent in gains for investors. That’s definitely no small feat. But, there were several other assets that delivered up to 20,000 percent gains in the same year — even when you consider the market downturn.
The beauty of the crypto market is that there are now more coins that can deliver gains to you. Most of these assets are tied to one project or the other, meaning that their investors either have to believe in that product or the coin itself.
So, how do you, as a cryptocurrency investor, find a coin that is stable and which can deliver the type of gains you want?
The first and most important thing for you to consider will have to be the coin’s developers themselves. Who are they? What do they do? What is their objective?
Most token developers go through the trouble of laying their vision down in a whitepaper. Read it, understand its mission, and examine the chances of success. You should also check out the token’s roadmap to see what the developers plan to do over time with it.
Examine the token’s economics
The next step will be for you to look at the economics underpinning the coin. This will explain its developers’ plans to do and how they hope to maintain the coin’s price.
Most cryptocurrencies engage a deflationary model, which involves the strategic reduction of the tokens’’ circulating supply, thus creating scarcity and causing the asset’s price to go up.
Keep your ears to the ground
Next, head over to social media platforms and online forums to know what people are saying about the coin. At the end of the day, the forces of demand and supply act on any cryptocurrency. If you see that demand for it is increasing, you’re more confident that the coin will succeed.
If you’re a new crypto investor who would like to cut through the red tape and find an asset with potential, then you should consider $SCC.
$SCC is the native token for ScaryChain Capital — a Finance-as-a-Service protocol that takes investors’ funds and invests them across multiple blockchains. By diversifying and investing in valuable projects, we ensure that our investors enjoy optimal value for their money. And, we now pay returns in the form of $SCC.
$SCC is valuable to both ScaryChain investors and retail investors who believe in what we’re doing. We’re democratizing finance and ensuring that everyone can enjoy financial independence. Join us and purchase $SCC today!
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Audited and Kyc’d by Assure Defi