Is it worth buying a crypto with a value of 0.23?

BITCOIN4X

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Quote from: BIT-BENDER on June 10, 2022, 02:12:51 PM

No crypto-wise individual would judge the potential of any crypto-currency by its starting price, it’s a fail question if you ask me, don’t be deceived by any one who at first glance feels a low market cap or low priced coin are the most profitable, infact that’s not real, many low priced coin fail off at some point so if that’s you criteria then try to change that, find out other aspects of the Crypto-currency you are asking if.

I fail to understand the OP's question especially about what currency or coin he is talking about. But I believe it's kind of the unit price of any altcoin regardless if it's a top altcoin or a new altcoin where he really wants to know if it's a good investment asset price.

Whatever the price, you only need to do a thorough analysis to know what the potential of the asset will look like in the future. Every coin in today's market never promises you good returns but rest assured if you have a good strategy and analysis you might make a profit.

BIT-BENDER

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No crypto-wise individual would judge the potential of any crypto-currency by its starting price, it’s a fail question if you ask me, don’t be deceived by any one who at first glance feels a low market cap or low priced coin are the most profitable, infact that’s not real, many low priced coin fail off at some point so if that’s you criteria then try to change that, find out other aspects of the Crypto-currency you are asking if.

Flexystar

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Why choose random number like this and state the obvious. If you want to understand the appreciation then go for the best project on the market who has launched with values like 0.05 or even less because these values can be obtained during pre ICO sale of the coin. This is so much obvious for the Altcoins. They will always launch the projects with such values because it feels less money but bull coin buying. Investors consider basic risk of less payment and believe that if coin even goes 3-4 times higher the pre ICO rate once on the exchanger they get big bash profits back. However, be aware not every project is successful.

Silberman

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Quote from: virasisog on June 07, 2022, 12:24:50 PM

Quote from: Kweek on May 30, 2022, 10:38:01 PM

It is a currency with a very high appreciation ratio, starting at 0.23. In your opinion, is it worth starting with this type of currency?

You shouldn't just focus on the value of the price of a coin but rather on its potential and foundation. Background checking is necessary so you have to do a series of research before investing because there are still other important factors that you must consider first. You should have included the name of the coin that you're pertaining to so you'll have an idea about its potential from experts' feedback here.

And unfortunately that is the only thing that most people see, how many times we have seen newbies in the forum thinking that dogecoin is a coin with a lot of potential just because they see it has a cheap price and then they ask if at some point dogecoin will have the same price as bitcoin, it seems they do not even take the time to look at the number of coins in circulation or the fact that dogecoin is a useless coin with no purpose at all.

Baofeng

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I don't know what kind of crypto the OP is talking, but high appreciation? doesn't make sense as we all know how volatile crypto currencies is. Of course, it could appreciate long term, but still it's hard to identify how will it go in the future.

I would speculate that this is some kind of altcoin, that's either has been marketed already and promoted as if it is the next ETH or BTC killer. So the hype is there and maybe that's what pique the user to ask it here. Nevertheless, based on what he says, it's advisable not to buy the hype.

Ojengonggu

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Quote from: Kweek on May 30, 2022, 10:38:01 PM

It is a currency with a very high appreciation ratio, starting at 0.23. In your opinion, is it worth starting with this type of currency?

I don't know what crypto you mean, is it possible that this crypto is one of the stable altcoins that is currently getting quite popular?
But regardless of what crypto you mean, of course it will really depend on how good the project they have is, because with a good project development it will certainly make the price of the crypto increase, in addition to developing or not a project will greatly affect supply and demand what is happening in the market so far.

lienfaye

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Quote from: Kweek on May 30, 2022, 10:38:01 PM

It is a currency with a very high appreciation ratio, starting at 0.23. In your opinion, is it worth starting with this type of currency?

You didnt include a complete details of this specific crypto that you're talking about. But there are many things to check if this crypto is worth to invest in and the cheap price is not only the basis. You need to conduct a research and be certain that it is not a pump and dump coin. There should be a utility, strong community and not only relying on hype because if the hype is over then its likely for it to crash and cant recover.

Bitcoin2009

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Quote from: Alisha-k on June 06, 2022, 09:32:56 AM

Don't be lured by cheap price that will look like a price trap at the end and by the way what coin are we really looking at here. Remember investors are still recovering from the Luna shock except you will like to join the same chorus then fine. A low price is not enough to make a decision either to buy a coin or not what is the purpose of the coin, the market capitalization , it's ATH and ATL and many things are still there to consider be a wiser investor

Unfortunately we never know whether the current price is cheap or not, but if you look at the market trends that are happening I'm sure now is the right time to buy, what happened to LUNA can certainly happen with any coins, the most important thing is that we always have to keep up with the latest news.

nullama

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Quote from: KingsDen on June 07, 2022, 04:12:11 PM

~snip~
That is the great mistakes that people make. The strength of a coin is not determined by the current price. Price is not static, it changes greatly. Otherwise price can be manipulated through pump and dump and other means.
The main purpose of the project should be put into consideration. Does it have any problems to solve?
Is it acceptable by the community. It is important to look beyond price in making decisions.

One thing that I've learnt is that most people don't really know too much about their investments. The key metric that a lot of people use is simply the price.

That's basically driving a lot of new projects, aka shitcoins, they offer massive potential gains if you "buy now", and a lot of people are extremely greedy, want to have a quick win, and end up losing their money with these things.

Shitcoins are a bit similar to the products being sold by infomercials on TV late at night. Sadly, a lot of people end up buying them because they just said something like "but wait, there's more!"

suzanne5223

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Quote from: KingsDen on June 07, 2022, 04:12:11 PM

Quote from: suzanne5223 on June 06, 2022, 09:55:54 AM

Quote from: Kweek on May 30, 2022, 10:38:01 PM

It is a currency with a very high appreciation ratio, starting at 0.23. In your opinion, is it worth starting with this type of currency?

In my opinion, the current price of every crypto does not determine its future price but there are certain things you need to look out for before choosing your altcoin investment so you won't invest in a shitcoin.
What I always look out for is the project concept
Check if the project dev team are number 1 fan of the project and also check their experience.
Marketcap, historical data of the coin to see how it easily maintains price stability and level of support.

That is the great mistakes that people make. The strength of a coin is not determined by the current price. Price is not static, it changes greatly. Otherwise price can be manipulated through pump and dump and other means.
The main purpose of the project should be put into consideration. Does it have any problems to solve?
Is it acceptable by the community. It is important to look beyond price in making decisions.

Yes, I believe the reason why people invested in shitcoin is that they are only after hype base projects, focus more on influencer accumulation and the current of the coin in the market whereas choosing the right investment has to do with a lot of things.
Meanwhile, this conversation reminds me of what CZ finance said. He says bearish season exposes weak coins and it's true because the altcoin couldn't resist the dump at some point in this current market when BTC dump in price such coin won't make it to the next bullish market.

KingsDen

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Quote from: suzanne5223 on June 06, 2022, 09:55:54 AM

Quote from: Kweek on May 30, 2022, 10:38:01 PM

It is a currency with a very high appreciation ratio, starting at 0.23. In your opinion, is it worth starting with this type of currency?

In my opinion, the current price of every crypto does not determine its future price but there are certain things you need to look out for before choosing your altcoin investment so you won't invest in a shitcoin.
What I always look out for is the project concept
Check if the project dev team are number 1 fan of the project and also check their experience.
Marketcap, historical data of the coin to see how it easily maintains price stability and level of support.

That is the great mistakes that people make. The strength of a coin is not determined by the current price. Price is not static, it changes greatly. Otherwise price can be manipulated through pump and dump and other means.
The main purpose of the project should be put into consideration. Does it have any problems to solve?
Is it acceptable by the community. It is important to look beyond price in making decisions.

virasisog

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Quote from: Kweek on May 30, 2022, 10:38:01 PM

It is a currency with a very high appreciation ratio, starting at 0.23. In your opinion, is it worth starting with this type of currency?

You shouldn't just focus on the value of the price of a coin but rather on its potential and foundation. Background checking is necessary so you have to do a series of research before investing because there are still other important factors that you must consider first. You should have included the name of the coin that you're pertaining to so you'll have an idea about its potential from experts' feedback here.

Silberman

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Quote from: Don Pedro Dinero on June 04, 2022, 04:11:32 AM

Quote from: Kweek on May 30, 2022, 10:38:01 PM

It is a currency with a very high appreciation ratio, starting at 0.23. In your opinion, is it worth starting with this type of currency?

Hi mate. I've read what you've written and I'll be honest with you: you're going to lose your money.

If you want to invest in a currency, the current price is only the smallest detail of what you have to consider when deciding whether to buy or not. I would go on and on giving you explanations but it seems to me that I am going to waste my time. Just search the internet for 'how to invest' or something like that and refine your search.

Current price in isolation from everything else doesn't indicate anything.

True, I do not mind that newbies do not know much about investing because most people are like that at the beginning, what surprises me is the fact they are willing to take such huge risks despite their lack of knowledge and skills, when I was a newbie at least I knew my knowledge was on the low side and I tried to avoid risks as much as possible and only invested in bitcoin, and now that I know more about the market I realize this is the right choice even when I have accumulated more experience.

LogitechMouse

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Quote from: Kweek on May 30, 2022, 10:38:01 PM

It is a currency with a very high appreciation ratio, starting at 0.23. In your opinion, is it worth starting with this type of currency?

Did a quick search with that appreciation ratio and it is the same as the growth rate of a particular asset.
A coin that has a $0.01 price isn't the same as the coin that has a $1000 price.

Price itself is a bad indicator of whether you will buy an asset or not. If you are a conservative one, focus more on stocks particularly the blue chip ones and the index funds. TBH, price only isn't enough for you to decide but you need other things depending on the asset. In short whether it is a stock or crypto, doing a research is still the best thing to do and don't solely focus on the price itself.

Hydrogen

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Quote from: Kweek on May 30, 2022, 10:38:01 PM

It is a currency with a very high appreciation ratio, starting at 0.23. In your opinion, is it worth starting with this type of currency?

A 23% appreciation in value is a blanket condition covering every imaginable scenario from fickle pump and dump schemes to robust long term gains that will be made on solid fundamentals.

Everyone can see the price moving in a positive direction. Which indicates significantly greater purchasing volume in contrast to sell orders.

The key step is to identify the motive behind the sharp uptake in buying volume, driving prices upwards. This can be done by finding a rough estimate of the number of buy orders that were executed (the purchasing volume present). Through experience and looking at basic statistics and features, the true market value can be guessed at.

Being able to discern the difference between shoddy gimmicks and legitimate features which carry real demand is also important for appraising crypto valuation. Having legitimate utility and demand has high correlation with future appreciation in value. While shoddy gimmicks trend towards the opposite.

suzanne5223

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Quote from: Kweek on May 30, 2022, 10:38:01 PM

It is a currency with a very high appreciation ratio, starting at 0.23. In your opinion, is it worth starting with this type of currency?

In my opinion, the current price of every crypto does not determine its future price but there are certain things you need to look out for before choosing your altcoin investment so you won't invest in a shitcoin.
What I always look out for is the project concept
Check if the project dev team are number 1 fan of the project and also check their experience.
Marketcap, historical data of the coin to see how it easily maintains price stability and level of support.

Alisha-k

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Don't be lured by cheap price that will look like a price trap at the end and by the way what coin are we really looking at here. Remember investors are still recovering from the Luna shock except you will like to join the same chorus then fine. A low price is not enough to make a decision either to buy a coin or not what is the purpose of the coin, the market capitalization , it's ATH and ATL and many things are still there to consider be a wiser investor

jostorres

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Quote from: xSkylarx on June 04, 2022, 04:45:08 AM

Quote from: Kweek on May 30, 2022, 10:38:01 PM

It is a currency with a very high appreciation ratio, starting at 0.23. In your opinion, is it worth starting with this type of currency?

How can you say that it has high appreciation ratio? Is this a presale token that promises a huge value in the next few months or years? With that marketing style, you can obviously tell that it's not worth buying or just some sort of p&d shitcoin.

If you're newbie in crypto, don't get blinded with those promises. They are just creating a hype to dump their tokens on newbies like you. Don't invest based on hype, check its whitepaper first if it has real developers and roadmap for their project.

It has a real developer because the coin was already created. If what you mean is about identity, it is easy for projects with anonymous and fake teams to scam because they won't be traced out easily but there are also projects that are proudly presented their real names and pictures though some of them still didn't succeed but that was fine as long as they didn't scam anyone and they are honest about their intentions.

People will already understand and accept that it was their fault on trusting that project. We cant say that a coin will have a high appreciation rate because they keeps on fluctuating unless if he is talking about something like staking where you can earn stable returns but I will still be careful on this one.

Wexnident

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I mean, you've already made your judgment about the coin being with a "very high appreciation ratio", not to mention not telling us the coin itself and only leaving us with that, I don't think you even need to ask us anything, just go for it if you want to. But if you really want advice then no, I don't even think there's even a way or method for one to identify if a coin was worth it early on, we're all taking risks when investing. I'd honestly just start with Bitcoin then slowly grow out your portfolio from there.

xSkylarx

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Quote from: Kweek on May 30, 2022, 10:38:01 PM

It is a currency with a very high appreciation ratio, starting at 0.23. In your opinion, is it worth starting with this type of currency?

How can you say that it has high appreciation ratio? Is this a presale token that promises a huge value in the next few months or years? With that marketing style, you can obviously tell that it's not worth buying or just some sort of p&d shitcoin.

If you're newbie in crypto, don't get blinded with those promises. They are just creating a hype to dump their tokens on newbies like you. Don't invest based on hype, check its whitepaper first if it has real developers and roadmap for their project.

Topic: Is it worth buying a crypto with a value of 0.23? (Read 328 times)