You can find more than 6,000 cryptos in the world today. But it’s hard to know how many we actually need…
You see, of the thousands of cryptos that exist, we only like a few dozen or so right now.
Some cryptos are designed to serve as currency – like bitcoin.
But many cryptos have been created to complete company-specific tasks or other narrow-focused ones… These tasks can range from tracking real gold, to verifying data, to even proving your age without sharing your personal information.
Other cryptos are simply worthless products from crafty computer programmers who are just trying to cash in on the popularity of this exciting industry.
However, teams of entrepreneurs are also building cryptos, trying to solve problems and improve industries.
You can find cryptos for banking, advertising, voting, investing, betting, making music, tracking our food supply, verifying art… and hundreds more uses.
So while we only like a narrow range of cryptos today, that could change in the coming months and years as some of these new, innovative cryptos prove their values.
Today, we’ll discuss how to think about the variety of cryptos available… And we’ll show you a few traits common in cryptos with the biggest potential upside.
Openness is one of the core values of the crypto industry…
Most crypto transactions can be verified by anyone, anywhere, at any time. And this idea of openness even extends to the computer code used to create a particular crypto.
Most of the time, the developers of a crypto release their code for free (under what’s known as an open-source license). That means anyone can take a crypto’s code, copy it, modify it, and release it with a different name.
This openness has pros and cons…
On the downside, it leads to a lot of copycat cryptos that don’t do anything unique. But on the other hand, coders can build upon and leverage the work of others. That has led to radical innovation in the space.
We believe there could be millions of cryptos in the world one day. Moving between them will be seamless, instant, and free (or nearly free). And in many cases, end users might not realize a crypto was involved in their transactions at all.
Now, if you were only going to pick one crypto to invest in… it should be bitcoin, hands down.
It’s the oldest, biggest, strongest, and best-known crypto. And in fact, we always recommend crypto investors maintain bitcoin as their single largest crypto investment.
But it’s also just scratching the surface of the potential gains you could see…
Many investors buy some bitcoin and start to learn about the broad array of other choices available. Then, they start to see the appeal of some of these cryptos. And more folks catch on. One of our main goals in Crypto Capital is finding tiny cryptos before they become big…
For example, we discovered one crypto that’s committed to fixing problems with online advertising… like websites that track our every move and sell that data to the highest bidder. Many folks don’t like that.
So an entrepreneur who previously invented one of the most popular Internet browsers in the world created a crypto that can protect your privacy while improving your online browsing experience. At the same time, you can use this crypto to support the creative people who make all the websites and videos that you love to use and watch.
This is only possible with the power of crypto… So we believe it’s worth looking at. Plus, it gives investors an opportunity to get in on the ground floor of an exciting new technology.
It’s also a lot easier to find a crypto that’s worth, say, $10 million and has the potential to quickly rise to $100 million than it is to find one worth $100 million that will quickly rise to $1 billion. That’s how we’ve seen returns of 1,000% or more in as little as a year.
So how do you separate cryptos poised for success from ones that are junk?
It doesn’t matter what sort of investing you’re doing, from stocks… to venture capital… opportunities… to real estate… to cryptos…
Putting time and effort into your research is always the best way to outperform the market. Your data and ability to identify trends must be better than the market’s. That’s why we travel the world to attend crypto conferences, meet founders, and try out products.
The qualities of a great crypto project aren’t much different from what makes a great stock…
First, you need a stellar founding team. You also need a product that can truly go global.
And you need great economic incentives (what we call “tokenomics”). These include things like discounts, special members-only access, faster transactions, or disinflationary token models that should lead to higher token prices in the future.
Cryptos have some unique factors that we should consider, too…
Decentralization, for example, is key. Decentralization means no central party – like a bank or government – is in charge.
We want to see a crypto with hundreds or thousands of computers running its software in a lot of different countries. We also want to see a thriving community of users, contributors, and advocates for the project.
When all of these things align on a small, unknown crypto… you could potentially make life-changing gains just by making a small investment.
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Source: Daily Wealth