How To Know The Next Crypto Millionaire Maker Coins
crypto millionaire

How To Know The Next Crypto Millionaire Maker Coins

By Krypto Fan | The Crypto Revolution | 10 May 2020


functionality

 

Functionality.


You can most certainly tell the future of a
cryptocurrency project by what specific purpose
it serves. The challenges surrounding the
establishment of a digital economy that works
is great. Within this emerging digital economy,
there are many different sectors which have
different functions that contribute to the overall
effectiveness of the combined system.
As an example, we can use the human body
and the various functions of its organs that
are vital for its survival. A few examples of
cryptocurrencies and their various functions
are coins like Monero which specializes in
providing privacy for its users. others such
as Ethereum, Stellar and Cardano utilizes
a computer protocol which provides its users
with added security via smart contracts.
and some like Electroneum are spearheading
mobile data purchasing.
If you're able to recognize from the start
what role a particular cryptocurrency coin plays
and how effective it is in comparison to it's
competitors in the cryptosphere, then
congratulations for you would have learned how
to spot a future millionaire-maker coin.

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Track Record


The history of how a coin has performed can be
very vital in helping to clarify any potential future
projections of the project. If a coin has shown
little to no progress from its inception over a
number of years, then the chances of that project
becoming successful will be very minimal.
But on the other hand, if a coin has shown
continuous upward movements since its inception
or able to maintain progress regardless of
occasional fluctuations over a long period of time
as was the case with Bitcoin. Then the chances
of that project becoming successful will be very high.
To know where a particular coin may
potentially go, you must first know where it's
coming from, and have access to a map of it's
journey to where it is now. By carefully studying
a particular coins chart history you can
most definitely know if it will be a potential
millionaire-maker coin.

 

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Efficiency


It should be quiet obvious that all cryptocurrencies
that require less time, energy, and money to
function will be chosen above the rest. For example,
let's use Bitcoin in comparison to Litecoin. Back in
December 2017 at the hight of the bull market Bitcoin
peaked at nearly $20,000 making a lot of people
a lot of money. As a result, there was an exponential
increase in transactions on the blockchain which
caused some bitcoin transactions to take several days
or even weeks to be confirmed. Transaction fees spiked
to $50 causing transactions with lower fees such as
$10 to be completely ignored. This was not the case
for Litecoin, as many people chose the option of first
exchanging their Bitcoin for Litecoin before sending
it. Normally it takes just over 2 minutes for a Litecoin
transaction to be confirmed in comparison to Bitcoin
which is usually about an hour but can vary from
between 10 minutes to over a day.
The consensus mechanism that a cryptocurrency
project uses can also be an indicator of its efficiency.
In my opinion, the proof of stake mechanism is much
more efficient than proof of work. Not only does the
Proof of work mechanism requires a significant amount
of electricity to mine, but it is also very limited
in the number of transactions, it can process at the
same time.
The ability to send and receive payments at any time,
as fast as possible and for less, has proven to be
invaluable in the past and it will again in the future.

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Community


The unity, strength, and success of the team behind
a cryptocurrency project will be significantly reflected in
the overall performance of the coin. It is then very
wise to first do your due diligence in vetting every
one included or associated with the development of
the particular coin that you want to invest in.
Failure to due so might risk your assets losing some,
or even all of its value due to a hard fork. A hard fork is
when there is a disagreement among the core
developers of a cryptocurrency project and it leads
to a division or branching off from the original coding
or coin. Bitcoin is a perfect example of this with
BCH, BSV, and Bitcoin Gold all stemming from Bitcoin.
Regardless Bitcoin has managed to maintain progress
over the years and the main contributor to that success
, in my opinion, is the ever-increasing die-hard fans in
its community. Therefore the size of the holding
community of any cryptocurrency can also be an
indicator of how successful that coin will be.
The more people that are invested in the project,
the more money will flow into it causing the market
capitalization to rise and make the coin more valuable.
Its that simple.

 

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Adaptability


For a particular crypto project to be able to
keep up in this ever-evolving cryptocurrency world,
they must be able to adapt and rise to the challenges
that other crypto competitors will bring and also any
other unforeseen problems that may surface in the future.
Adaptation is key to securing and maintaining the spotlight
amidst the increasing number of cryptocurrencies.
Take Ethereum and Electroneum for example, none
of these cryptocurrency projects are what they started
out to be. They have both been evolving throughout
the years, adapting to the changes in technology and
the demands of the people. Ethereum started as a
blockchain which would allow users to build any kind
of applications on top. Now it seeks to build web 3.0,
which is a better, more secure internet that uses
decentralized technology. Electroneum started out
intending to capture mobile gaming and online
gambling markets specifically. Now they are leaning
more towards mobile data top-ups and establishing an
internet job ecosystem that pays in ETN. There is currently
a race to establish a global cryptocurrency system that
works and only those crypto projects that can adapt will
outrun and outshine the others.

 

The audio for this article can be found on the youtube channel

link below

https://www.youtube.com/watch?v=3sZNutcyQnA&t=96s

 

 

BTC

037fe599af31f1f4ced0514c187f786082df7d74074946257113843647b62efc95


ADA

DdzFFzCqrhszXsa4a4pN1GDzmkxyGn3e8kwmxFwLC36zEwzWGW4gUqRg5n2YsYmAHTuVLfK9C8JcxVpB68fSpkEjskz8WC5jV7JEPjKw


XLM

GACLDYGEBOKQHEG72AK3HDRTQ4C34AKVV6KD74KFR42JR4FXSGXKSW2B


RDD

RvKvLgDi7gy3BhEPke37mu462fmSNJQhEa

 

 

 

 

 

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Krypto Fan
Krypto Fan

I'm a multitasker who is passionate about a lot of things including spirituality, art, photography, writing, entrepreneurship, and cryptocurrency.


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