There are more than 1000 cryptos on the market and still counting as new crypto are being created day by day, but do we have to jump in any crypto just because we believe crypto is the future?
We have 2 types of cryptos: The Newly Introduced & the well Established
What differentiate them?
Newly introduced cryptos, these are the new cryptos on the block and trying so hard to penetrate the market to become among the giants. But that doesn't happen so easily as it is not that simple and a lot of work has to be done. Some of them will just die in the process as a result of not being adopted by the people. Mostly what they state on their white paper doesn't happen as planned.
Well established cryptos these are the ancient crypto coins which has been on the market for long and they are well recognized all over the world and are already used as payment systems.
Right now its tougher to invest in a well established coin and become a millionaire since the coin will be expensive to buy full coins, but with newly introduced coins there are chances that you may become richer if the coin make it in the market and well adopted.
Certain things to consider when investing in these coins:
- Capitalization of the coin in question
- Company behind
- The company motive
- Number of coins in supply as it affects the supply and demand which also affect the price
- The marketing strategy and effort implemented
So one has to consider these factors when investing in different types of coins, you can either go for ICO's or Old crypto coins.
