Topic: Why not try out a less popular but promising token? - page 3. (Read 785 times)

Investing in a new token isn't a bad idea, but you really need to be careful so that you won't end up invest in the wrong coin, reason been that there are some coin that has been in the market for long but they don't have the potential to increase in there value, just imagine investing on this coin how is your future going to look like? however investing in a new token is very good when you make a long term investment with it, mostly when you invest in a profiting coin,I'm pretty sure you're going to make a lot of profit in the future.

Investing in a new token at the very beginning is a good idea to get a higher profit margin. I think unknown tokens are not worth the time or money which is why they are unknown. BTC is the best option to earn profit with a limited risk of losing money. However, most of the experienced investors and members of this forum advised to not invest in these coins because most of them turned out to be scams and people lost their hard-earned money.

So this is the main reason why this thread was created ?  it is about DRN but you made  us all interesting in what you are gonna deliver here in your thread weeks ago 

Congrats about your initial success and waiting for your advance update in the next one so we can join you in this celebration lol.

I am coming，let’s talk about the cryptocurrency that has made me profitable recently – DRN

DRN comes from UM Co., Ltd., an emerging company focusing on the field of blockchain and encryption technology. Its main business covers Gamefi, cryptocurrency, NFT, BaaS platform and other fields. Of course, if it were not my friend, I would be not care  to this introduction.

Because he was playing this company, Pet Island, he recommended it to me and asked me to play with him. The gameplay is simple. Through interactive behaviors such as feeding, playing, and dressing up, the owner can increase the energy output and growth rewards of the divine pet, thereby earning DRN.

The DRN drop frequency of God's Pet Island is not high, but it aroused my curiosity about chain games. Later, I tried another chain game of UM - "Mountains and Seas". In the early days, I didn’t spend much money or put in much effort. To be honest, the art style of this game is quite rough. Its biggest advantage is that it is free and has the option of fool-proof operation. Let me take a break from work. Unknowingly, my combat power and level have improved, and I can harvest areas where high-level monsters drop more DRN. I will also turn on full auto before going to bed, and 0.5 DRN will always arrive in my account in the morning.

As the number of DRNs increased, I began to explore the newly developed mining application of UM Co., Ltd. - UM Club. I decided to test the waters by short term storage of some DRN. Unexpectedly, it didn’t take long to take it out, and the profit was quite considerable! Although the money is not much, it is enough for me to treat myself to a big meal, haha!

Now, I feel more and more that DRN is a treasure. I believe that as more players and investors realize the potential of DRN, its price will undoubtedly continue to rise.

https://umcrypto.io/#/game

Trading and the cryptocurrency market are all about risks, whether it's new projects or old ones, you should always remember that you are playing with fire and your hands can burn at any given time. There are a lot of old projects that couldn't perform in their initial days but did pretty well recently, take GNO as an example, and there are also projects that were extremely popular and trusted but then failed miserably and aren't able to recover anymore, such as LUNA.

So, there is absolutely nothing wrong with making investments in new cryptocurrencies, the thing is that one should be able to do enough research and understand the market very well to understand whether a project has potential or not.

You already mentioned the reason why many people avoid new token and you will agree with me that those reasons have be justified as the evidence abound. I will not discourage you from trying new token because I have also been thinking in that direction since the market is green, there will be some new good projects that will ride the wave of the excitement in the market. If one can chose few of them, there is a high chance of making a good profit. You should just be careful in choosing the token to go with because not many of them are worth investing in. Most of the new projects turn out to be bad investment and that is enough reason to b careful.

I like the idea of being among the first investors but I keep asking why should I risk so much to a project that is very young. instead why not just focus on reputable Altcoins or better stay with Bitcoin and make simple profit than stress my head with headaches of new tokens. especially when is very new you will always have to keep up with every move the project makes.

When planning to invest in altcoins,  it is something you need to make your own decision,  you kind just depend on people opinion because many people will come with a different ideas that may not favour you at the end of everything.  It is better for you to make your own research to know which project you can invest in.  When planning to invest in altcoins you need to make a thorough research for you to be sure with what you are going into.

It's just an investment which may come with a high potential but just 1% certainty. Most new project turn out to be scam in most cases even after numerous research. I have bought some in the past but I ended up loses my money. I will advise you hold more of Bitcoin and If you still like to try new token, do so with a little capital that you can avoid to lose. This is because investing in most new project has no difference with one being gambling.

You've spoken like a true degen. Degens don't even want to know if a project has any utility or anything else to offer but would rather "ape" in first then ask questions later. If you want to be degenerate, it's the bull run so you could get very lucky especially now that meme coins are all the rage.  

Personally, I'd still stick with tokens that offer some utility and enough liquidity (that means it has to be listed on a top tier exchange) so that if I want to take out my position, I should be able to do so.

For instance, here's a tweet of someone "apeing" into a not so popular stablecoin: https://twitter.com/3liXBT/status/1766092647205151110?s=19

The results? Liquidity was pulled now even an $1 swap causes over - 70% slippage.

Honestly, this is very new for me. I  am not really familiar with the token.
It cannot be denied that for some people, especially those who dare to take high risks, buying certain tokens at the start, especially if the tokens are large enough, can provide quite a lot of profit. Moreover, if you can really be that successful in getting into the top exchanges in the next listing, then usually you will be successful. But of course, it's not easy to find what tokens. If so, for the long term, I would prefer the popular ones, the top coins, and of course there is no doubt about their fundamentals and existence in the market. So, this will return to the personal
  reference again.

Probably the big reason is the potential scam project and that’s why many still prefer to invest on a popular project even if it’s a new one. There’s no problem to invest with them though as long as you see it’s potential and as long as you are ready for the risk. Personally, in this bull market my both eyes are just looking at the top coins, they are the one who are making a big pump and we should follow that trend for now.

If a project gets to the exchange and let's say it's not progressing much in terms of price but still it's a real projects and if the dev team develops the project further than we may see increase in its value and this is what I term as unknown coins i nena there are many such coins in the market and I have made some investment in one such project named UTK which is good but not well know.

The sole reason why people don't invest into new or unknown coins is what if it's a scam which happens with most of the new projects as they either don't reach exchange or they just dump it on the day of launch and that's all.

Are you that rich to just put your money at risk?

Investing in lesser known projects or newly launched projects can be a good thing if only risks are properly managed. Investing is always risky but moreover when you are investing in projects that are not that big or popular.

Of course you should do your own research because not all coins that are unpopular right now would stay that way. If you see potential, then you should invest on it. We all have different levels of risk tolerance and we might not be as open to investing to a new project than you. Plus, if this coin truly has a potential then you should be able anle to find it for yourself and not hear it from other because that would mean you are already a little bit behind.

the good thing that might happen in diving into the new token is that you become an early investor and the possibility of getting millions is what you hope for.

but there are lots to consider when you want to invest in a new token. scam is just one that you have mentioned but whatever makes sense to you will end up in your portfolio and if that doesn't yield ROI for you then it's a liability which is not good for business.

Why do you have to look for a stupid way by buying tokens that are less popular, whether they are guaranteed and promising. Because if you don't have a community it won't mean anything. Tokens that are not popular but have a strong community and good marketing are better. Don't choose high risks if there are many better options.

If you neglect the contents of your wallet and are ready to take unreasonable risks, then try to catch your luck with "less popular but promising token". There is no fear in buying a new token, but there is a sober rational calculation based, so to speak, on statistics. 99.9% of tokens is useless and unnecessary garbage. Trying to find a couple of diamonds in the form of "less popular but promising token" in this pile of garbage is practically impossible. In this case, it is better to adhere to a conservative investment strategy.

Your money your rules
Your money your choice
Your money you full rights

When it comes on investing on new projects then it would really be that entirely be depending on you on which it would really be just that common that there would really be
those people who would really be skeptical on investing into new projects but eventually you could really be able to make money if you do able to hit up the right spot.
Not all good looking and good utility kind of project do able to pump out. It would be always be something that needs up for some community support and recognition on which this is
something i should say that on where one of the main or biggest factor that could make a project do pump.

Reasonable reason, looking at the potential i prefer btc over others, because i don't want to take too high a risk even though a little result would be better.

In as much as i would agree with you 70%, i think its very easy for someone not well grounded in this space to buy rugpull projects all in the name of looking for potential gems. If it is established project like BTC, ETH and other top projects with good liquidity and mcap. There is no problem but investing in new projects can be dangerous if one dont have all the requite knowledge about it, its use cases and the project team and that is why sometimes, insight gotten from this forum can help someone make an informed decision. I am not disputing the fact that their are several developers that may want to advertise their projects but out of 10 comments maybe one of them can be in that category.  As regards the OP quest to invest in new coin, i actually buy the idea coz if one is able to get the right project to invest in especially as bullrun seems to have started, one may easily get decent returns compare to established coin. For me, Scallop $SCA is a project that am watching closely as the launching is imminent. The backing from industry giant like CMS Holdings, 6MV, SUI, AC Capital, UOB Ventures, Signum, Cypher, etc is a testament of how interested investors are keen on the project plus the TVL has  also surpassed $117. Will also go live on exchanges soon.