Kucoin is quite possibly the best exchange for minnows (people who are new/only hold a little crypto). This is because it
- Doesn't require you to do KYC.
- Has extremely low minimum trades - less than 5cents .
- Doesn't just carry the large cap cryptos but has small caps found nowhere else.
- Has enough volume on small caps for washtrading not to be an issue.
- Is fully insured - If it is hacked you won't lose your funds - in many ways this is better than holding your own keys in a wallet because these are easily lost/misplaced/stolen
- it's possible to exchange to a crypto that has no fees/low fees for moving to another wallet.
- Kucoin allows the use of VPNs. This means that if you are in a part of the world that does not allow you to trade cryptos you can get round this by using a VPN. There is a free one built into the Opera Browser which is perfectly usable. It's based on Chrome but comes without the Google surveillence bullshit.
Now that you are there you will have the option of swapping the coins you have earned on Publish0x for something that will almost certainly earn you more money. Ethereum probably will increase in value but to do so the whole market has to increase in value because it is already at the top of its game. It's also under a lot of pressure as it could potentially be replaced by one of its rivals. All in all growth is going to be a bit thin in comparison with coins that are lower down the rankings. Ampleforth is a plain old donkey that you will need to get rid of as it will rebase until it hits zero if you are not careful. As soon as it arrives in your Kucoin wallet sell the Fd&^%king stuff. I do intend one of these days to do a post on why Ampleforth (and all elastic currencies) are complete horseshit ...... being based on political ideas rather than ecomomic practice. I've tried several times but I can't keep my snarkiness in check at the Dunning-Kruger collective that founded it and George Selgin, the clown/prof, whose work/(political treatise with fuck all to do with economics). Deep breath - childish hissy fit over - back to Kucoin.
You could do your own research
- Pick things with a named team - less chance of them doing a runner with your money
- Make sure the team has a mix of skills. All geeks or all business people at the top is a bad idea. A financial director ensures they don't run out of cash quickand. A lawyer tells them off when they come up with "cunning plans" which aren't so cunning but are just naive and also adds a bit of Machiavellian bastardness which can be useful in business if it is legal. One big "NO" is someone who is a serial entrepreneur - If they have a resume as long as your arm they probably aren't going to stick around.
- Don't pick a low cap (ranked 400 or more) if it is more than 2/3 years old. If it can't get in the top 400 after 2/3 years it probably isn't going anywhere.
- Don't pick a coin with a website that doesn't work in your browser of choice, is fully of spelling mistakes, is fully of crappy gimmicks, reads like Crypto Buzzword Bingo. A website is really simple to set up if they mess that up then they will probably mess everything else up too. It also means it has got the marketing skills of a skunk.
Alternatively you could let me do some of the research for you .....although some of these projects break the rules which I have set out above ....such hipocrisy ;)
- Lukso - You probably have not heard of this but it should be a no brainer for your porfolio. The creator used to work on ethereum and was the creator of the ERC-20 standard (ethereum) and the NFT protocol. They are trying for a niche market which might well work. At approx $25 (at time of writing they seem expensive however there are less than 4 million in circulation (really tiny) so it actually makes them cheap. This project has scooted up the rankings. Before Xmas it was around 80 cents, a month ago it was $5. these are serious movements and there is a long way to go.
- Fortknoxster (FKX) - This is one of those that breaks my rules but that is because it is a Crypto version of Zoom and is hence something that is going to be used during a lockdown. It is fully functional (no waiting 2 years for this app to work) and unlike its rival, Zoom, fully encrypted, distributed, unhackable and strict business insurance ready. Although its gone up a lot in value recently it is still ranked around 1000 which means it is dirt cheap with a long way to go. The order book is not that fat so if you put on a grand or more you will probably move the market. Ease it in with a couple of limit orders or an iceberg. If you are an imp then it will be no problem at all.
- Syntropy (Noia) - Screamed up the rankings a lot. Is languishing at the moment as it is wating for mainnet. This is a level 0 Crypto (part of the internet and as such affects the operation of every blockchain by design). This is a bunch of protocols that help with routing (speeding up your connection), translating ip6 addresses (long overdue) and operating as a content delivery network CDN (similar to Cloudfront but different). This has already been accepted as an internet standard and as such has aquired heaps of cash and staff from companies like Oracle and Microsoft .....errr .......so much huger than its crypto ranking suggests. Players are really kissing their ass big time, babies being offered for sacrifice etc.
- Opacity (OPCT) - this was the old Oyster Pearl. the one where the founder ran off and took all the cash. Token dived into oblivion. The shocked team stayed behind and knocked out a dirt cheap distributed storage system that is fully working (kudos) unlike the much more expensive Filecoin. Recently went up in value a lot but still dirt cheap so there is a way to go.
- Cudos - A crypto version of Amazon Web Services (AWS) ie cloud computing.
- Strong - Ready made nodes to order. So you want to run a crypto node/server on a chain - you don't need to be a geek to do it you can just rent a ready made one from strong. This one bobs around in price a lot. Not really good to invest in but good for practicing trading on as it has a thin but active order book.
- Ultra (UOS) - This is an off the shelf EOS fork which is fully independent of EOS. It's the crypto verson of Steam/Steampowered, the gaming distribution system. The difference being it is a lot cheaper than the regular gaming distribution systems for game dev studios. It is very likely that this will be the first EOS fork to pass EOS in value if it continues its current ascent.
- Veracity (VRA) - A crypto e-sports streamer - again a big mover recently
- Safe Haven (SHA) - Build stuff for other Cryptos. Some layer 0 too
- Puton (PLU) - Token called pluton but site called Plutus .....ok. This will be of interest to Europeans only. Register with this one and you get a UK bank account number, sort code, IBan international code and VISA DEBIT card. It says it is not a bank although it offers all the services as a UK challenger bank ....so a bank then ....the first crypto bank at that. Is registered with the FCA (the UK equivalent of the SEC) so they are going to find themselves in jail if they do a naughty. However their listing with the FCA is even more confusingly as Block Code. You need to do full FYC, including and inked and printed version of your asscheeks which you hold up to a video while farting the days date in morse code along with your father's maiden name.
- API3 - Chain agnostic oracle. ie chainlink without the baggage/overhead and obviously less limited.
- Constellation (DAG) - A gen 4 crypto on mainnet - uses a DAG rather than a blockchain - similar to Fantom - slightly different to IOTA and Hedera Hashgraph. Far better than the ordinary blockchains.
Disclosure - I own every one of this crypto except Pluton which I intend to buy in the near future
You can of course get more well known cryptos on Kucoin but, hey, there is buckets of info on them everywhere. It's the tiniest of cryptos that have the potential to make the biggest gains ......and of course, carry the most risks.
Although daunting at first sight try and get used to using the Spot Trading Screen and learn how to trade while you have peanuts. If you practice with a small amount of crypto it is less devastating than waiting til later when you have amassed a large amount of crypto and lost the lot. Whatever you do don't get tempted to use margin or futures. I guarantee you will lose everything. Even seasoned traders screw up using margin.
Don't use market orders but use limit orders instead. Use the order book and chart to determine what price to put your orders at. At some point I will write a basic trading tutorial.
Image by Sugarfix