Virtual currencies are simply taking over the world and it is up to you whether to take this opportunity or let it slide. However, not everyone has the capital or funds to invest all at once and the majority of people need to set a budget.
Forget The Big Boys
A hundred dollars might seem like a lot of money but in the investing world, it’s but a fraction. Thankfully there are countless ways of earning money and even crypto online. Check out 5 easy ways of earning crypto online in passive and active ways. But If you’re looking for long-term investments with 100$ dollars you need to forget about Bitcoin or Etherium -- that ship has simply sailed.
Bitcoin as of right now is standing tall at around $55,000 and if you invest now you’re looking at about a few decades to make a profit.
Adjust Your Strategy
According to your budget you need to change your strategy since long-term investments are off the table. You should focus on discovering a “second Bitcoin”, which is where you could make huge amounts of profit with just a 100$.
There are dozens of new coins debuting each year and with it new opportunities to make loads of money.
Invest In ICOs
ICO is similar to IPO and means “initial coin offerings”. Every coin has to start somewhere and even coins like Bitcoin debuted in 2010 and began trading at a measly value of US$0.0008.
Buying 100$ worth of bitcoin back in 2010 for that price would make you a multi-billionaire today. You could replicate the same thing by investing in the right new cryptocurrency.
Secrets Of ICO
The Bitcoin craze of course brought in many criminals and scammers and a large number of ICO are either scams or failures that just try to cash in on the trend. Before jumping in and looking for the next Bitcoin you need to know about the dark side of crypto as well. There are over 1600 dead coins already with many of them failing shortly after their initial funding.
Research
Just like before any investment, you need to do your research about the ICO. Learning the negatives and secrets is part of it but now you need to search for the positive and the constructive utility of each coin.
Consider these factors in the least:
- The team
- The project
- The product or service
- The market
- The utility of their tokens
- The supply And try to assess their potential once they launch their product.
Conclusion: Practice Caution
Crypto is a very volatile subject and you should consider every possible outcome. Do your own research and don’t listen to any post or news article, not even this one since you are responsible for your own money.
While a 100$ budget might not seem like a lot, with the right approach you could make waves with your overall balance. As long as you keep all the facts straight and don’t fall into common “get rich quick schemes you’re at least on the right path.