Using Dimension coin (DYM), here is a reason why you should focus more on alt coin less than $1 if you are new to crypto.
I noticed DYM coin last night on @binance while scouting for coins. The chart you are looking at is a daily timeframe and it's obvious with the two candlesticks that DYM is a new coin.
The opening price of the coin is $.2;
The current price as at the time of writing this is $4.99; and the all time high of the coin is $6.321
The main reasons you have to focus on Alt coin < $1 is the ease in acquiring more at a reduced price.
Buying a $10 worth of DYM will give you 50DYM as at the time of it release.
Wondering how I came about that?
Divide $10 which is the amount spent on purchasing the coin by the opening price which is $0.2
$10/$0.2 = 50.
Upon release coin moved to an all time high of $6.321, if you sold your coin at this point you would have made $316.05.
How?
The 50 DYM you have multiplied by the all time high DYM price, $6.321
50 * $6.321 = $316.05.
You have made about $306 in profit.
$316.05 - $10 = $306.05
If we assume you missed selling at that price and decided to sell at the current price $4.99. you will make $249.5
50 * $4.99 = $249.5
You can see the importance of looking at the coins with smaller price if you don't have much money to invest in the top coins for now. You can cash out, rinse and repeat.
Please note that my illustration are hypothetical and base of historical data. While investing in crypto, do yourself a favour conducting your due diligence. The illustration I made now was for educational purpose and should not be taken as an investment advice.
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