That’s quite an ambitious target as it means investing $1000 in a single crypto today and turning it into $1 million. Whether it’s in the next 5-years, ten years, or more, not many cryptos cannot pull this off.
That said, crypto is crypto, and anything is possible. For instance, in 2011, no one would have imagined that in 2021, Bitcoin would be trading at over $60k. The same can always repeat.
While there is no way to tell which cryptocurrencies will turn $1000 into $1 million, there is a methodology that one can use and increase the odds.
How To Find The Next 1000x Cryptocurrencies To Invest In: Essential Steps To Follow
Step 1: Look Below The Top 500
If you are looking for a 1000x cryptocurrency, then the chances are that you won’t find it in the large-cap cryptos within the top 100. There is also a pretty slim chance that you can find it in the top 500.
The rationale is simple; there is only so much that a cryptocurrency can go without its market cap becomes unrealistic relative to the global economy.
For instance, if Bitcoin were to do 1000x from its current price, its market would be hundreds of trillions of dollars. That’s multiple times larger than the world economy. This is unrealistic both now and anytime in the near future.
Such a scenario would mean that every aspect of the economy, including industries not yet been discovered, would be running on crypto. It’s not about to happen because adoption is not growing that fast. Bitcoin has been in existence for a decade now, yet a significant portion of the world’s literate population has no idea how it works.
So, what’s so special about cryptos below the top 500? Well, it’s below this level that you find cryptocurrencies with a market cap as low as $1 million. If you find a suitable project in this range, its price rallying by 1000x would still give it a realistic market capitalization.
Step 2: Look At The Project Use Case
Crypto as a whole is risky territory, but things get even trickier as you slide down market cap rankings. Even in the top 100, there are lots of projects that have questionable use cases.
Below 500, you are likely to find projects that you can’t easily tell what they are trying to achieve, even after going through their websites and whitepapers. Such projects are unlikely to give you 1000x returns.
To increase your odds, you need to go for projects that solve a real problem. Such a problem would also need to be sufficiently huge and revolutionary. To put it in the context of the stock markets, you are searching for the next Facebook or Google.
These are companies that took an existing problem that others had tried to solve but failed. Their breakthrough solutions led to the growth that they have experienced over the years.
In the context of crypto, the market is still young, and there are tons of problems that need to be solved. One of the problems that seem to be quite challenging is the trilemma of decentralization, security, and scalability. If you find a project that can solve this the right way, then you may have stumbled upon a gem.
While this is a problem that a lot of projects even in the top 100 claims to have solved, most of them end up compromising on decentralization. In most cases, all the nodes end up being controlled by a few entities. This explains why a lot of Bitcoin and Ethereum killers that have come up over the years, fizzle out after a while. In the end, it always dawns on users, and investors, that these projects are centralized.
Check Out: How To Invest in the Cryptocurrency Market To Get a Six-Figure Portfolio
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Step 3: Check Out The Team Behind The Project
Launching an ERC-20 token, or just any other project is easy. That’s why in just 5-years, the number of crypto projects has grown from a little over 2000 to 6000+. Most of them have some excellent use cases, but the big question is, can they deliver?
That’s where the project team comes into the equation. Once you have identified a good project with a strong use case, look at the team behind it.
As a rule, eliminate projects that have more marketing guys than developers. This is usually a tell-tale sign of a pump and dump scheme that only wants to ride the hype cycles and help the lead team exit rich.
To increase the odds of 1000x returns, the use case has to be right, and the project developer team should have the know-how to make it happen. Perhaps the best crypto to demonstrate the importance of technical know-how is Cardano.
The project started building on its whitepaper back in 2017, and while a lot of ICO projects launched at the same time died, Cardano (ADA) thrived. So much so that it is now the third-largest cryptocurrency by market capitalization.
It achieved this because it had a solid whitepaper and one of the best cryptography and mathematics guys behind it. A person like Charles Hoskinson is a top computer scientist of global repute. The same can be said of Polkadot (DOT) or any other successful projects.
The team’s technical capabilities are essential, especially when the focus is doing 1000x returns on investment.
Step 4: Get In At Launch
If you want 1000x returns on investments, then the chances are that you won’t get them from a project that has gone through two or three bull cycles.
The best time to buy a 1000x crypto project is at launch. Most cryptos, even those that grown to trade at 100s and even 1000s of dollars, always trade at pennies at launch. People who knew of Bitcoin, Ethereum, BNB, and all the other large projects at launch got them for pennies.
As such, you need to be up-to-date on the latest events in the market to know what new projects are launching and when. Luckily, this has become relatively easy over the years.
Crypto data aggregators such as CoinMarketCap give investors access to data on the latest project launches. One can use such information, then follow the three steps above before investing.
While there are no guarantees, the odds of hitting the jackpot by following these steps are high.
5 New Cryptocurrencies That Have The Potential To Give Investors 1000x
As stated earlier, there is no way to tell which projects can do 1000x. Most cryptos with this potential have possibly not been developed yet. That said, these 5 below are relatively new, have interesting use cases, and have pretty low market caps.
HALO Network
HALO Network (HO) is a new blockchain network that provides users with a one-stop integration to DeFi applications. It also has the advantages of low-cost, and energy-efficient transactions.
The network also offers asset conversion contracts between various chains, such as Bitcoin, Ethereum, and Polkadot.
The HALO Network token is currently trading at $7.39, with a fully diluted market capitalization of $155,269,910.
Shrek
Shrek (SHK) is an NFT and gaming platform hosted on the Binance Smart Chain. It is also available cross-chain. The platform aims to become the center of blockchain-based games through a distributed ledger system.
Players have a chance to win prizes like Shrek (SHK) tokens and game equipment. These prizes help them upgrade their Shrek characters and sell them on NFT marketplaces.
The prizes can also be sold directly on the NFT market for SHK tokens. Shrek is currently trading at $0.000004808, with a fully diluted market capitalization of $239,551.
King Cardano
King Cardano (KADA) is the first platform to offer auto-claim ADA tokens with yields of up to 9%.
The longer you hold KADA tokens, the higher your rewards.
BabyAvengers
Baby Avengers (AVNGRS) allows players to earn rewards in the form of different coins after every three days. For example, BTC coins are represented by Captain Marvel, and Iron Man represents DOGE.
Users can also earn passive income by holding BabyAvengers tokens.
Binamon
Binamon (BMON) is a play-to-earn platform. Players purchase Binamon packs that may contain rare or ultra-exclusive Binanomns.
These Binamons can earn $BMON tokens by playing them against other players, trading them, or through staking.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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