Cryptocurrency for Beginners

© In For A Shilling

Highlights

What are the best cheap coins to buy? (8:10)

“If people are recommending cheap coins for you to buy, they either don’t know what they’re on about, or they’re trying to increase the value of their own investment in a so call “pump”, so that you increase the price for them and they get to sell at a higher price and turn over a really nice profit.

The price alone has really no bearing on whether you should invest in a cryptocurrency. Now let’s look at this: just because ripple has a price of $2, it doesn’t mean that it’s got loads of room to grow. If you ever think that ripple is going to reach the price of Bitcoin at $13,000, then you are absolutely mental.

I often see people saying that ripple will be worth $500 or $1,000 in the future. I’m gonna do a quick calculation now to work out what the market cap of ripple would have to be if it ever reached a price of $1,000.

If ripple which currently costs $2 was ever to reach a price of $1,000, it’s market cap would be 39 trillion dollars. This is just impossible. There is no way that ripple will ever be worth 39 trillion dollars. Which means a price of $1,000 per coin is virtually impossible.

The only way ripple ever reach $1,000 in coin is if they burn a load of the supply. Which means that there’s less coins in the market. That would mean that the market cap still never reach 39 trillion dollars.

Please bear this in mind when you see people recommending cheap coins., you need to understand where the potential is for a coin to grow. Just because it’s cheap, doesn’t necessarily mean it has room to grow.”

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