Let’s face it, finding new crypto coins to invest in can be extremely challenging. With hundreds of different projects & ecosystems released on the blockchain weekly – the evergrowing decentralized space is flooded with new technology. With the unveiling of Pancakeswap’s exchange, a substantial contribution to trading Binance Smart Chain coins, there’s been an age-old question. How would one dive into this swamp of BSC cryptocurrencies and find themselves investing in DeFi projects that would provide significant financial profits? 3 tools covered in this article will make exploring the DeFi world much smoother and hopefully help you on your journey to financial freedom.
The first tool that will significantly help you embark on your financial goals is a data aggregator. Most crypto traders use these to track prices of different altcoins on their watchlist, but many don’t dive deep and discover these websites’ true potential.
Coinmarketcap and Coingecko are some of many data aggregators that have lists of cryptocurrencies that are trending at the moment. This trending list can help you get on a bubble about to burst – this has been proven effective. For example, Shiba Inu and Akita Inu, among many others, were sitting on the trending list before they exploded in price and holders. There are also filters within the trending page that can customize what exactly an investor is looking for; an example is how long the list of coins has been trending. Monitoring the trending cryptocurrencies can give you an early advantage. These websites also have a “recently added” list for an even earlier advantage. These are coins that have just been added to their data aggregators. Normally, these tokens are in their extremely early stages, giving you a notable upper hand. Additionally, newer tokens being found means that lower marketcap coins can be discovered – this can generate massive profits when their marketcap raises.
Sure, tracking prices is a must and a great way of using these websites; however, with these filtering options, you will surpass others and be able to put your hard-earned BNB into coins with serious potential.
Data aggregators are a great tool for exploring projects that have already been released, but for a DeFi Degen (a trader interested in riskier trades with high rewards), this next tool is supreme. Launchpads (sometimes referred to as IDOs) are websites where new cryptocurrency coins can raise funds to raise liquidity and sustainably launch their coins. These tokens are ready to go and enter the blockchain space. With websites like Gempad and DXSale, investors can monitor and find coins that they think will do well.
They can follow the timeline when launching and throw some BNB in there. Buying into a presale comes with more risk, as the token is not launched – however, you will be buying at the launch price which would provide a larger percentage of tokens for your investment. Usually, right after the presale window – the token is launched. It’s clear how much of an advantage a presale buyer has over those buying when the token is released. As mentioned, this is for DeFi Degens willing to take risks because, in an unpredictable market, it’s not uncommon for tokens to fall below the presale price. This would happen if the marketcap falls below the launch marketcap. Usually, this occurs when many presale buyers sell and take their profits or when the token gains traction, and then a major sell-off follows.
Nevertheless, this is a great way of finding brand new crypto coins on the BSC. If further research is done on the project, and an educated assumption can be made about where the coin will be headed – profits can be made.
Launchpads are a risky way of getting into projects, but an investment that can certainly pay off. This next tool is a much safer and a surefire way to discover new cryptocurrency projects that investors can put more of their trust in. This is used by thousands of people to make an educated decision regarding their crypto investments. Large crypto investor groups on the messaging app Telegram work with each other to find what they think is the next crypto gem. A common way that this is done is through an AMA (Ask Me Anything). The team of crypto coins schedule a call with the entire investor community.
They are there to present their token and answer any questions the community (and the AMA host) may have. This is an extremely effective way of exploring projects. Whale Coin Talk has 50+ AMA’s a month! That’s around 2 investment opportunities per day to look out for. Not only will the investor know much more about the token, but they will have their personal questions answered by the team! This is an undoubtedly prominent method to find crypto projects that may just multiply an investor’s wallet. It is a challenge finding new crypto tokens with the evergrowing technology that is being offered – but thousands are tuning in to these AMA’s to help them on their blockchain journey.
Crypto trading is not simple, but with these tools – there are effective ways to submerge into the crypto space and find new projects that an investor can put their BNB in. Now go out there, use these tools as an asset and become the best cryptocurrency trader you can be!