Getting started with 100$ budget
- Thread starter Shahaf
- Start date
blackbeans
Elite Member
- Nov 29, 2008
- 9,247
- 4,807
If you're just getting started with a hundred bucks, I've good news for you.
Thanks to the rise of crypto , there are many coins out there being released.
There are even sub Reddits dedicated to newly released coins that are being hyped.
I'm not going to lie to you and say that most of these coins have a future.
Let's not kid ourselves; many of these coins are heavy on hype but cannot deliver.
Some are just basically fraud.
They are either fraudulent now or might turn into scams later on.
There is such a thing as a crypto rug pull ; look that up.
So the key is to look for new crypto coins or tokens that look legit.
How do you know whether a crypto coin is legit?
First, it has its own blockchain with many nodes.
It also should have very few founder coins circulating.
It should also have a low maximum cap.
If you don't find these factors, you can cherry-pick many new tokens coming out.
It doesn't matter whether you pick tokens on Uniswap or PancakeSwap .
What's important is you look for the liquidity pool.
Is there a lock-in period?
The longer the period, the better.
Read up on the tell-tale signs of fraud on crypto and filter accordingly.
The good news is a dollar goes a long way if you get in early, especially for pre-launch tokens.
Do your research and get in for as cheap as possible so that your 100 dollars can help you get positions in a large enough range of coins.
So that given enough time, you can be in the position to profit.
This is how it usually plays out.
Maybe 80 to 90 dollars of your budget will be wasted because it turns out you've invested in shit coins.
But don't underestimate the return on the remaining 10 dollars because if you bought enough tokens or coins, the return could be very high.
10x or 20x or even 30x is not unheard of .
It's a numbers game.
Once some of your coins die, some get a decent return, reinvest in more coins and keep repeating that process.
The key here is to level up your ability to spot coins that have a decent shot at increasing in value, and then you exit.
That's my final piece of advice.
You have to exit.
You can leave a small portion that you don't mind losing, but for the most part, you need to decide to exit so you can have enough capital that you can grow.
Don't get too attached to your "winners" .
They may not be winners for long.
Thanks to the rise of crypto , there are many coins out there being released.
There are even sub Reddits dedicated to newly released coins that are being hyped.
I'm not going to lie to you and say that most of these coins have a future.
Let's not kid ourselves; many of these coins are heavy on hype but cannot deliver.
Some are just basically fraud.
They are either fraudulent now or might turn into scams later on.
There is such a thing as a crypto rug pull ; look that up.
So the key is to look for new crypto coins or tokens that look legit.
How do you know whether a crypto coin is legit?
First, it has its own blockchain with many nodes.
It also should have very few founder coins circulating.
It should also have a low maximum cap.
If you don't find these factors, you can cherry-pick many new tokens coming out.
It doesn't matter whether you pick tokens on Uniswap or PancakeSwap .
What's important is you look for the liquidity pool.
Is there a lock-in period?
The longer the period, the better.
Read up on the tell-tale signs of fraud on crypto and filter accordingly.
The good news is a dollar goes a long way if you get in early, especially for pre-launch tokens.
Do your research and get in for as cheap as possible so that your 100 dollars can help you get positions in a large enough range of coins.
So that given enough time, you can be in the position to profit.
This is how it usually plays out.
Maybe 80 to 90 dollars of your budget will be wasted because it turns out you've invested in shit coins.
But don't underestimate the return on the remaining 10 dollars because if you bought enough tokens or coins, the return could be very high.
10x or 20x or even 30x is not unheard of .
It's a numbers game.
Once some of your coins die, some get a decent return, reinvest in more coins and keep repeating that process.
The key here is to level up your ability to spot coins that have a decent shot at increasing in value, and then you exit.
That's my final piece of advice.
You have to exit.
You can leave a small portion that you don't mind losing, but for the most part, you need to decide to exit so you can have enough capital that you can grow.
Don't get too attached to your "winners" .
They may not be winners for long.