The world of cryptocurrency is being ruled by Bitcoin, Ethereum, and a few other altcoins. Investors haven’t stopped diversifying their portfolios which has given other tokens the chance to grow.
Bitcoin still remains the ”king of cryptos” yet the amount of growth you can expect from it probably won’t be more than 1000% or x10 your initial investment.
While a lot of people are still giving BTC, some averse risk-takers have turned their attention to small-cap altcoins.
Altcoins
What are Small Cap Altcoins?
Small-cap altcoins are also referred to as shitcoins. They are tokens or coins other than Bitcoin that are very risky for investment. They have a small market capitalization which gives them the tag ‘small-cap’.
These small-cap altcoins have little or no value. They are created as a copy of an existing cryptocurrency or an entirely new project.
Some of these tokens include SafeMoon, Bonfire, Hashgraph Hedera, Phantasma, Aragon, and so on.
Why You Should Consider Buying Small Cap Altcoins
If you are an investor that really like to see the money you part for investment grow then small cap altcoins is for you.
Newly created tokens and existing little value coins have the potentials to grow. If you want to diversify your portfolio then you can give these tokens a chance to earn big.
Tokens like SafeMoon and Bonfire have been making many millionaires with little investment. With this, Bitcoin can be said to be overhyped as you get more returns with these shitcoins.
Is It Safe To Invest In Small Cap Altcoins?
Cryptocurrency in general is still considered a very risk investment when compared to other forms of investment. Small cap altcoins are however a more risky crypto coin to deal with.
Altcoin such as SafeMoon has been likened to a Ponzi scheme where gains to early investors were paid only by incoming investors who expected a similar rate of return.
The fact that they have no immediate discernible purpose make it risky to put your money. Nevertheless, you can still make a fortune with these coins. You’ll need to be active and monitor the way price move.
Prestmit is one of the best exchange platforms where you can trade cryptocurrencies. If you ever find yourself in a position to sell altcoins in Nigeria or Ghana, Visit Prestmit, it’s the best platform for you.
