Mining for Gold and other Valuable Treasure without a Shovel
By: Fraud Stamp
Tags: Cryptocurrency Investment, Crypto, Bitcoin, Investing, Cryptocurrency

The search for gold among the cryptocurrency carcasses

A Little About your Author: Fraud Stamp is a small team of experts in personal finance that offers a range of free resources including online courses, books and reports to educate investors in the field of finance and investing. You can visit our website at www.fraudstamp.com or follow us on Twitter @FraudStamp.

Last week Steve Wozniak the co-founder of Apple and founder of the cryptocurrency EFFORCE (WOZX) saw the price of his token increase by over 100% in one day. Up until that point most people didn’t even know Woz was involved in cryptocurrency. They do now. Woz’s cryptocurrency is among a large number of small cap cryptocurrencies with a market cap of under $100m. These cryptocurrencies don’t generally receive a great deal of attention. However there is a rung below the small cap cryptocurrencies. The micro caps, where the news flow is in even shorter supply. Here lies the opportunity.

An Overview of the Cryptocurrency Market

There are over 6,000 listed cryptocurrencies. However most of the action is in the top 6 (Bitcoin, Ether, XRP, Tether, Litecoin and Bitcoin Cash). From our own indepth research it is obvious there are huge rewards waiting for those who find the hidden gems among the many long forgotten and overlooked micro cap cryptocurrencies. These are the coins with a market cap of under $3m, representing over 80% of all cryptocurrencies.

High Reward — High Risk

Investing in micro cryptocurrencies is probably one of the most lucrative opportunities out there right now although it is not without risk. Whilst offering the greatest potential of most investment opportunities it also represents the highest risk. Don’t enter this market unless you understand the risks and most importantly you are able to withstand any losses.

A Few Facts

Here are a few interesting facts about the cryptocurrency market:

There are over 6,000 listed cryptocurrencies

There are 30 coins with a market cap of over $1bn

There are 114 coins with a market cap of over $100m

5,000 coins have a market cap of under $1m

3,900 coins have a market cap of under $500

Over 60% of listed cryptocurrencies have a market cap of under $1

Introducing the CryptoQuestion: Micro Cap Watch List

CryptoQuestion, the online cryptocurrency platform that provides a range of free resources to the novice to the cryptocurrency market have just launched their Micro Cap Watch List. This is a list of around twenty micro cap cryptocurrencies that they believe are worth closer attention.

The Search

To narrow their search for that hidden treasure CryptoQuestion focused on cryptocurrencies with a market cap below $3m with a cut off of $2,000, that provided around 1,100 cryptocurrencies to sift through, no small task.

They were looking for cryptocurrencies that had built a reasonably sized community, where the currency was listed on at least two exchanges, and where the project demonstrated potential. Lets describe what they considered the word potential to mean in this context.

The Selection Criteria

A project with potential is one where the project is live and has an established user base. In many cases projects have been overshadowed by the bigger brother in the market who have enjoyed all the publicity leaving the potentially promising projects marginalized and languishing at the bottom of the cryptocurrency heap.

The Potential Rewards

The prices of the cryptocurrencies selected in the first list are in many cases a fraction of a cent with market caps ranging from $1.6 million to $2,000. The potential if one of these projects is revalued is huge. Daily increases of 100% plus in the micro cap market are commonplace. But the reverse is also true.

Updates

CryptoQuestion will update this list every Friday adding and taking out cryptocurrencies depending on developments and feedback which will be published on their social media platforms as and when these are merited.

Dubious List

We have all heard of scam coins. The cryptocurrency graveyard is littered with them. The ‘Dubious List’ is a useful list of cryptocurrencies to avoid until further information is forthcoming about these projects.

DYOR

Always do your own research. This list does not represent financial advice or a recommendation to buy. It is purely a watch list of cryptocurrencies with potential.

Conflicts of Interest

CryptoQuestion and its associates do not hold any currencies on the lists published, nor do they intend to purchase cryptocurrencies on the list.

VIEW THE LIST HERE

Visit us at www.fraudstamp.com or follow us on Twitter or Instagram: @fraudstamp

No Financial Advice

This article does not constitute financial advice in any way. This article should be treated as supplementary information to add to your existing knowledge base.

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