The legend of getting rich overnight is the most wonderful place in the currency circle
In fact, the odds of this are about the same as buying the lottery.
New 100x coins and 1000x coins often appear in the news
Those opportunities will never be yours
The following points are analyzed for you:
1. First of all, you must understand that these hundred-fold and thousand-fold coins are never blue-chip projects. Most of them are meme coins, which are coins with no fundamentals at all. They are basically garbage. Most of them are first speculated by the project side and then just happen. It was related to a certain current event and then a lot of people got involved with FOMO and started to speculate.
In the end, these people will become a community. When they meet serious project parties, they will continue to develop the ecosystem after receiving funds. Like Dogecoin and Shiba Inu Coin, if they are project parties who just want to make money, they will directly arbitrage, and the currency price will eventually return to zero.
2. Unless you are a person who buys the project in the very early stages before it is listed on the exchange, it will be difficult to make money overnight on it. If you go to a centralized exchange, it is usually when the project party ships the goods. The probability is leek
3. It is very simple to create a new currency. Anyone can go to Google and you will find out. You can create your own currency in less than half an hour. The only thing left is to find ways to speculate in the currency. If a project with a lot of money starts, the currency price will rise a lot. Simply because the market value is very small, just spending a little money can make his currency rise several times immediately. If there are news reports or you spend money to hire industry professionals to start paying attention, retail investors’ funds come in and the project team hypes it, hundreds of times the currency will appear and thousands of times the currency will appear immediately.
4. To buy this kind of currency at the beginning of the project, you usually have to go to a decentralized exchange like uniswap pancakeswap. These exchanges have a bunch of new coins coming out every day. This is why I say it is like buying a lottery. It is very difficult to find a coin worth investing in among so many coins
The transaction costs on decentralized exchanges are higher than those on centralized exchanges. Every transaction requires gas fees, slippage, and low liquidity. This is why so many people prefer to trade on decentralized exchanges.
But if you really want to make a thousand-fold increase, you still have no chance until the project is in the early stages and before it is listed on a large centralized exchange.
Even if you buy this coin, it will rise almost a hundred times. If the liquidity is very low, there is no way to arbitrage it back. This is the most painful thing. You can see it but you can’t eat it.
that's all
