We’re all familiar with the terms Bitcoin and Ethereum. Even someone who has never invested in a cryptocurrency before has likely seen those two names in a news article at one time or another. But, what about some of the lesser known projects out there? Back in 2021, a man turned his $17 into $5.9 million by investing in the SHIB token before it went viral and grew to have the market cap of over $41 Billion dollars which it reached in late October of the same year. Investors love the idea of getting into new projects during their infancy and then hopefully reaping large returns down the road once the token gains popularity and eventually gets listed on big exchanges like Coinbase or Binance. Achieving this is easier said than done, though. Your odds of investing $17 into crypto tokens and earning $5.9 million in return is not likely, but it isn’t impossible. To have any chance of accomplishing this you will need to do lots of research, invest in multiple projects, and definitely have some luck on your side. We’ll try to help by giving some great tips, tokens and other advice within this article. Keep in mind, this isn’t financial advice and we’re not telling you to go out and buy the crypto tokens listed here. Instead, we want to give you helpful tips which can make finding lesser known cryptocurrencies easier, along with some of our personal recommendations for projects that you can begin researching. We hope you find this article helpful and can apply some of these tips to make your cryptocurrency dreams come true!
How To Find New Cryptocurrency Projects
Investing in lesser known cryptocurrency projects can be dangerous. New projects run the risk of being scams or being projects that never end up going anywhere or gaining you any positive returns. It’s important to know and understand that before investing in tokens that aren’t mainstream. Investors wanting to put their money into the safest cryptocurrencies should stick to the most popular and well known ones like Bitcoin and Ethereum. Those investors won’t be turning $17 into $5.9 million. But, they also aren’t likely to turn their $17 into $0 either. This is the type of risk you must be willing to take if you want the chance at turning a small investment into an extremely large return. Thankfully, for those who are willing to take the risk, there are some tricks you can do to try and avoid getting scammed out of your hard earned money. As we’ve seen with other popular cryptocurrencies like LUNA and SQUID, nothing is guaranteed and any project can look like a perfectly safe investment, only to turn around and drop to practically zero at any given time. When looking for new potential projects you might want to invest in, we recommend considering at least some of the metrics listed below.
Age Of The Project – It should be obvious that the older a project becomes, the less likely it is to be a scam. If you’re investing into a project that’s only one month old, you can’t be surprised if ends up going to zero or getting rug pulled in another month or two. If the project has been around for the last year or two, the odds of something like a rug pull go down significantly. Anytime you’re researching new cryptocurrency tokens you need to be considering when the project was launched. As projects age they become more established and therefor, should earn more of your trust. One easy way to see roughly when a project was launched would be to look it up on CoinMarketCap, scroll down to the chart, and click the “ALL” button. This will at least tell you when it was listed on their site.
Number Of Holders – The number of holders can be seen by looking the cryptocurrencies contract address up in an explorer. For example, here is what it looks like for the Shiba Inu token. In this example, we can see that SHIB currently has 1,169,145 holders. That means over 1 million people currently hold (or own) at least part of one SHIB token. The number of holders a cryptocurrency has can be an important metric for determining popularity. Something with only a few hundred holders could be an extremely new project and thus, very risky. At the same time, something with millions of holders (like SHIB) has probably gained so much popularity you’re not going to turn a small investment into something big with it. You want something that has thousands of holders, but not millions.
Market Cap And Total Supply – Market cap and total supply are important when you want to determine how high a coin needs to go for you to make a decent return. The lower its market cap, the more room there is for growth and for the price to go up. The lower the supply, the more the price will grow as the market cap increases. For instance, a token with 1,000,000 total supply is going to be worth significantly more per token when it reaches $10,000,000 in market cap as oppose to a token with 1,000,000,000 total supply. When investing in newer projects, you want tokens that don’t have the kinds of market cap you will see when looking at the CoinMarketCap top 100 list. Tokens with hundreds of millions or billions in market cap are not going to return millions of dollars on a $17 investment. You want tokens that have single digit millions in market cap and then grow to hundreds of millions or billions. Obviously, to go along with that you’d like to see a total supply that’s lower rather than higher. Of these two metrics, market cap is probably the more important one to consider.
Token Availability – Where can you buy this token? That’s an important question to consider when researching new projects. Obviously, the more exchanges a token is listed on, the more likely it is to be a legitimate project. If the token is only available on an exchange like PancakeSwap then the good thing is you can invest in it before it begins getting listed on other exchanges. However, the chances of it being a scam or getting rug pulled also increases. If you’re investing in a token that’s already listed on several exchanges then the project was likely vetted by the exchanges prior to being listed there, making it a bit safer and more trustworthy. This is especially true with the biggest exchanges like Coinbase and Binance.
What Issue Does It Solve – For a cryptocurrency project to be successful it needs to have some utility. Essentially, it needs to have a purpose. Does it solve a common issue people face? Does it offer something new that’s never been available before? When researching new tokens you should be looking at what they offer in terms of utility. Can they be used and if so, how? Is it something millions of people will want to use one day? These are all questions you should be asking yourself. If the project is new, don’t just take the text you read on the projects website at face value. Instead, look more into their claims. For example, if the token is for a new Play 2 Earn (P2E) game, then look for demo videos of the game. The more information you find that backs the projects claims, the more trust you can begin to establish with them.
Five Cryptocurrency Token Recommendations
Now that you know how lesser known cryptocurrencies can differ from their popular counterparts and how to research lesser known projects to determine if they might be a good investment or not, let’s look at some. Listed below are five tokens you might not have ever heard of before. Some of these projects are newer than others, but we’ve applied the same tips listed above and these fit most, if not all, of the requirements. If you’d like to begin looking for less popular cryptocurrencies which you can feel safe investing in, we recommend the five tokens which are listed below!
1. Chromia – Chromia is a blockchain, just like Ethereum. The project combines relational databases with blockchain technology to facilitate dApps with the user-friendliness, power, and logic of a proper database. While all of this may seem a bit confusing, think of them as a blockchain that developers build mostly games on. In fact, there are several popular crypto games out there which are already built on the Chromia blockchain. The project was launched in 2019 and currently has a market cap of $119,096,799 with a total of 10,814 current holders. Although it still hasn’t reached mass popularity, Chromia is well established and available on several different exchanges, including large ones like Binance and Kucoin. Although its easily the most popular of all crypto tokens listed in this article, Chromia still has plenty of room for growth and that’s why we’re recommending it.
2. MemeNFT – NFTs have gained massive popularity over the past year and the MemeNFT project was created to capitalize on it. The project aims to be the go-to place for everything related to NFTs. Buying, selling, minting, and staking are just a few of the features MemeNFT is offering. Could NFTs simply be a phase? It’s very possible! But, if the Metaverse trend continues to grow and people start buying virtual land plots to build virtual houses where they will display their virtual images or videos (which are NFTs), then it’s also likely that NFTs aren’t going anywhere anytime soon. The MemeNFT project is still extremely new – launching in 2022. However, it’s already generated almost $3 million dollars in market cap and 1,886 holders. The MemeNFT token is only available on PancakeSwap at the time of writing, so you can already see this project would be a riskier investment as opposed to the previous one listed.
3. SAFETREES – Unlike the other projects listed here which all have to do with services offered online, SAFETREES is a project with an offline purpose. It’s goal is to build a global green eco-system. They call it a “techno-economic” project for businesses and local tree growers who lead the fight against climate change. The project was started in early 2021 and has already grown to 19,481 holders with a fully diluted market cap of over $17 million. It’s only available for trade on PancakeSwap at the time of writing, but SAFETREES is a token you should consider researching into if you’re interested in projects that aren’t based completely around online services and solutions.
4. ULAND – With its growing popularity, Metaverse-related projects are popping up left and right. ULAND has created it’s own Metaverse where users earn rewards for the plots of land they own. NFT virtual land is mapped to real countries, states and cities. The project was launched in 2021 and currently has just over $2.5 million in market cap with 3,147 holders. Best of all, ULAND has a lower supply than most tokens at just 1,000,000,000. It’s also currently available to trade on two different exchanges – Biswap & PancakeSwap. If you’re someone looking for new Metaverse projects then be careful, the term has become so popular it’s a breading ground for scammers. With that in mind, do extensive research on them before you invest. We feel ULAND is a safe Metaverse token that still has lots of room for growth and that’s why we’re recommending it.
5. SpookyShiba – The final project we’re recommending in this list is SpookyShiba. Since we referenced someone turning $17 into over $5 million with a meme coin earlier in this article, we felt it was only right to include a meme coin we feel has the best potential to grow. SpookyShiba is getting into crypto gaming as well as NFTs. The project currently has over $1 million dollars in market cap and 30,490 holders. It was launched in late 2021 and is available to trade on two different exchanges – PancakeSwap & Hotbit. With the mass profits people made during the DOGE and SHIB meme coin booms, some investors are always looking for the next meme token that will soar in popularity. There are tons of them out there and many are scams, but we feel SpookyShiba has some potential given that they’re working to do more than be just another meme token. Gaming and NFT-related services could get this token into the spotlight and quickly raise its value.
Conclusion
If you have dreams of turning a small investment into a large return then it isn’t going to happen with popular coins like Bitcoin and Ethereum. Instead, it’s going to require looking for smaller projects that haven’t become mainstream yet and then simply taking a chance on them. Do your research and use some of the tips above to find projects that you feel confident about and remember, never invest money you can’t afford to lose or might end up needing in a month or two. We’ve recommended five lesser-known projects which we have personally researched and feel are fairly safe to invest in. Best of all, we feel these projects do have some potential for a profitable future. Consider doing some of your own research with either the tokens we’ve listed above, or any other cryptocurrencies you might be interested in, and you might just become the next person to turn $17 into more than $5 million!