I am noone to judge anybody who trys this method of making a quick buck, the method involves scouring CoinMarketCap for cheap coins and hope they reach 100x your initial input. Some Altcoins though are designed to take away your money without making their coin hold a true purpose. Today I was on CoinMarketCap looking for such opportunities when I came across alot of useless coins. One stood out but Many are on the list. The one that stood out was Project-X with the Ticker Symbol (NANOX) which was worth 51.1 Btc or ~$590,000k. The coin and project have no working website for one to do any research and it’s volume can be traced to one exchange, Yobit. The confusing part for me was that its total Market Cap was only 4Btc with a Total Supply of Just 1 NANOX Coin. This coin took me for a huge surprise but I was in no way looking into buying a piece.
Another trend of coin that popped up a lot where coins that looked into casino work and gambling. Im fully aware that the mainstream media considers crypto to be in a bubble where I can honestly agree to a certain Point, Pointless coins will eventually fall and disappear making it a bubble of sorts Yet bitcoin, litecoin, ethereum and many others that work are not a bubble. I feel that it will be a matter of time before many of these coins disappear with our money. I don’t want to give any advice to anyone but I do have to say that you shouldn’t risk more than you can afford to lose. To many Bitconnect Mortgage Horror stories are enough to keep anyone awake for the rest of your life.
Safe Trading!