Inexpensive Cryptocurrencies to Take a Punt On
The way the digital currency markets have been going over the last few weeks, you are probably going to get tempted to start buying into some coins and tokens as the gains that have been made recently by investors have been very significant.
However, it is always advisable for you to start off with some of the lower priced coins and tokens, as that way you can of course have an interest in a range of different digital assets but won’t have to spend a small fortune buying into them!
Therefore, today I am going to be looking at some of the ones that are quite inexpensive currently and as such it may be worth, in the long or short term to invest in some of them. The first coin which may tempt you to part with some of your investment funds is Ripple for that well-known cryptocurrency is currently available at a unit price of just $0.859394 so you won’t break the bank when investing in it!
Cardano is another extremely low-cost coin you can buy and if you do so today then you are only going to have to pay around the $0.341467 mark for each full unit you do decide to buy.
Stellar may also be worth investing in and with a unit price of a negligible $0.408672 you should be able to afford to buy into it without having to part with a large amount of chasm which is of course something that you are going to have to do when investing in cryptocurrencies such as Bitcoin and Ethereum!
Earning ICO Bonus Tokens
There are ways that you can get more coins and tokens that you paid for, and that will see you having to take part in an initial coin offering or token generation event, and boy are there plenty of them to pick and choose from.
However, not all of them are what they may first seem, and a lot of people have been stung by buying into coins and tokens that are backed by a fictious company or bogus project and that is something that you will always need to be aware of.
However, if you do have plenty of spare time and are prepared to do the leg work regarding vetting any initial coin offerings or token generation events to invest in, you will find that you can buy tokens for some very low prices and will also be able to bag plenty of bonus tokens too.
But the downside of investing in any such scheme that does offer lots of bonus tokens to their investors is that they could dilute the price of the other coins and tokens you have paid for when they become readily available on digital currency exchanges.
So, whilst there are plenty of coins and tokens being given away by initial coin offerings, the dilution is something that you are going to have to weigh up to see if it is worth accepting them or signing up to an ICO that is offering them.
Short or Long-Term Investing
It is of course going to be up to you whether you do look at any cryptocurrency investments as either short or long-term ones and there are always going to be pros and cons no matter how long into the future or how little time you allocate to your digital assets investments.
But at the end of the day the one thing you will always be looking to do is to make a profit from absolutely any coins and tokens that you do invest in, and with that in mind you should be prepared to cash them in when you have reached a level of profit that you are satisfied with.
Failing to do so will see you then running the added risk of seeing those coins and tokens drop in value which let’s face it, history has proven time and time again that they can do so.
However, also keep in mind that you will be far better off making use of and utilizing a digital currency exchange that has the very minimum of fees and charges, so much so if you are buying and selling lots of low cost coins and tokens.
If you do not heed that advice, then any profit you are lucky enough to make investing in any coins and tokens could be quite dramatically reduced once you have paid your processing and transaction fees so always keep that in mind!