In 2017, the market capitalization of cryptocurrency increased from 17 to 612 billion dollars, but in 2018 there was a collapse. In spite of this, the blockchain industry is becoming more and more popular and attracts the finances and attention of both beginner traders and large companies. Projects on the market are becoming more and newcomers are increasingly interested in which cryptocurrency to invest in 2019. Below we will discuss various approaches to investing, let’s talk about ICO and mining of promising coins.
Little known promising cryptocurrencies in 2022
Young cryptocurrencies, which now cost a penny or have not yet hit any of the exchanges, can become market leaders in the future. Once a few cents worth bitcoin, and now its capitalization reaches billions of dollars. Forecast cryptocurrency often does not give a real picture of what will happen in the future. This market is still too new and unexplored, which does not always allow analyzing what is happening with the help of standard economic tools.
Many traders consider it a good idea to buy cryptocurrency while it is little known and the price is as low as possible. Of course, this method works far from all projects, and here the investor has to decide for himself what cryptocurrency to buy.
Another way to make money on developing blockchain projects is to invest in ICO. Making a profit in this way is not a fantasy for a long time, and in 2017-2018 we could see a lot of successful pre-sales tokens. However, among such proposals there is a lot of scam. You should always pay attention to the information provided by the developers. Having a list of team members with experienced developers in it, documentation and a roadmap does not guarantee that the creators will not be lost with your funds at the end of the ICO, but it will greatly minimize the likelihood of such a development.
Exploring prospective cryptocurrencies for mining
If you have powerful computing equipment, then you can start mining cryptocurrency. New coins often have low complexity and few people know about them, which allows us to reserve coins for yourself without any problems.
In total, there are two main approaches to mining:
- In the first case, you go to the site with a calculator of potential profits, for example, whattomine. There you choose the most profitable coin for your iron and proceed to its extraction. Everything you earn is sold every week or even every day. In this case, you can always get a steady income and, as a result, fiat money.
- Another case is when you are trying to look into the future, and not based on the current state of the course. Then you have to independently analyze all the information and find out the most promising developments for directing your computing power to their production.
The complexity of mining is constantly growing. The complication of mining leads to higher prices for the coin itself. Initially, DogeCoin, for example, could be mined using a simple home PC. Now for obtaining tangible profits, you must already use specialized devices, which are called ASIC miners.