The cryptocurrency market is growing fast. The number of new coins being released each year is increasing, which means you can find an abundance of new coins in the market.
However, finding a good new crypto coin is not easy. Many factors determine your success in the crypto investment, and you need to consider them carefully before investing in a certain coin or token.
The following guides will help you understand how to find new crypto coins and what factors you should use for your investment decisions. Before then, let us get to know why new cryptocurrencies are being created.
Why Are New Cryptocurrencies Created?
Sometimes, you may be wondering why so many cryptocurrencies are being created yearly; why can’t crypto or blockchain enthusiasts stick to only Bitcoin (BTC) as the major currency of blockchain technology?
However, all these cryptocurrencies must be created for one or two reasons. But before we get to know the reasons, it’s worth noting that blockchain is open to anyone that wants to get into the system — as the initial major goal is to create a system that won’t be controlled by central authorities.
The inception of Bitcoin has proved to the world that there could be a system where every individual can have control and build it if they wish without seeking permission.
Hence, anyone can create a blockchain network and mint a native or utility coin.
Also, with the advent of the second largest blockchain, Ethereum — which was the first smart contracts enabled blockchain network that enables individuals in the network to create a token or application without any third party interference.
This makes thousands of cryptocurrencies available in the crypto market because these cryptocurrencies were created for different purposes.
Some are created to serve as a utility in any protocol or blockchain network (e.g., Ethereum), while some are used as stores of value (e.g., Bitcoin).
How to Find New Crypto Coins
There are a lot of new crypto coins out there, and you may want to check out some of them. However, it’s not easy if you don’t know much about the crypto world and what you’re looking for. Here are some tips on how to find new crypto coins:
- Do your research
As mentioned above, you should do your research before investing in any type of cryptocurrency. The more information you have on the project, the better decision you’ll be able to make.
This includes everything from its tokenomics and how it works to the team behind it. If you’re interested in a specific crypto coin but haven’t yet taken the time to learn about it, check out their website for more details about the project itself and who is involved with it.
There should be enough information about the crypto coin on their website, which includes the goal of the project and, most especially, the problems it aims to solve.
Another important thing while doing your research is the whitepaper; it will entail the vision and mission of that particular crypto project. With that, you can know if the project is intriguing enough to drive more demand for its crypto coin.
Furthermore, you’d also want to check if the team is capable of delivering the promises they made in the whitepaper by scouting the team’s experience or roles.
- Stay Up-To-Date
The cryptocurrency space is a rapidly growing industry where many new inventions spring up every day because it’s still a developing technology that requires constant innovation.
Thus, information or knowledge that’s considered to be accurate might become obsolete in a few weeks or months. Furthermore, the ways of researching a new crypto coin that is likely to accrue significant ROI might not be accurate again if there’s any innovation.
This is why any crypto investors need to stay up-to-date and broaden their knowledge of what’s happening in the crypto industry to discern information that will be helpful in their research.
If you’re keen to invest in cryptocurrency and you want to know how to find a new crypto coin, the aforementioned tips are the first things they need to put into consideration and make it an altitude.
However, you’d need a platform to leverage that will help you implement the tips; you can’t conduct research without using a platform that already has some pieces of information you’d need to make your investment decision on a certain crypto coin.
So you’ve known tips on how to find new crypto coins. What is next for you is knowing where to implement these tips to discover new crypto coins.
Where to Find New Crypto Coins
The knowledge about how to find new crypto coins is nothing until you find where you can apply the tips to get what you’re looking for — new crypto coins.
Below are some places you can use these tips and discover new crypto coins to invest in.
Cryptocurrency Exchanges
A cryptocurrency exchange is simply a platform created or developed to facilitate buying and selling cryptocurrencies. It provides seamless ways of trading cryptocurrency to fiat currency or vice versa.
In contrast, the cryptocurrency exchange enables users to trade one cryptocurrency for another and offers leverage trading.
As platforms that enable users to buy and sell cryptocurrencies, they must have these crypto assets on their platform. Thus, crypto coins are listed on the exchange platform.
A cryptocurrency exchange is one of the best places to find new crypto coins because when a new crypto coin or token is created, it needs to be listed on the platform before users can start trading the cryptocurrency on the exchange platform.
A Crypto exchange platform is considered a good place to find new crypto coins because a crypto asset must be tradeable on a cryptocurrency exchange platform before it can be known and popular in the crypto market.
Examples of cryptocurrency exchange platforms to find new crypto coins are Gate.io, Kucoin, Bybit, etc.
Crypto Data Aggregator
A Crypto data aggregator is another great place to find new crypto coins. It’s a platform considered a tool to get enough information about different cryptocurrencies that are available in the market.
It combines all data about a particular crypto asset in a single page, which includes the market capitalization of the token to its current price, the trading volume, and different crypto exchange platforms where it can be traded.
To know the past performance of a particular cryptocurrency, the crypto data aggregator also provides the ROI (return on investment) percentage of the crypto asset since its launch into the crypto market. Of course, this tool lets you know when a certain crypto asset was created and the use cases of the crypto coin or token.
Prominent crypto data aggregators that have gained ground over the past few years are Coinmarketcap and Coingecko. You can easily find new coins on these platforms by navigating to the “newly listed cryptocurrencies” page, especially on the Coinmarketcap platform.
Crypto data aggregators are important tools for finding new crypto coins because they are the first places where new crypto coins debut before they start trading n the market.
Social Media
Social media is another prominent place to find new crypto coins. Social media serve as a medium for sharing information, socializing with like minds, and also where to see other people’s opinions on a certain discussion.
There are numerous crypto communities on a social media platform that houses crypto investors from different regions — whereby they discuss the cryptocurrency market.
Hence, new or upcoming crypto developers always build a presence of their projects on prominent social media platforms where crypto is mostly discussed.
Due to this, you can easily find different new crypto coins on social media such as Twitter, Reddit, Telegram, and Discord.
The easiest way to go about this is to join crypto communities on the aforementioned social media platforms.
Join Telegram, Discord groups, and channels
Telegram groups or Discord channels are great places where people discuss topics related to cryptocurrencies and blockchain technology.
The community usually talks about what’s happening in the market and requests other members’ opinions about any cryptocurrency project.
How to Buy Crypto Before Listing on Binance
Binance is one of the largest crypto exchange platforms in the world. Thus, many crypto investors know about it and its influence on the general crypto market.
When crypto gets listed on Binance, it usually increases in price; due to this, crypto investors are always on the lookout for a crypto asset that will get listed on the exchange platform.
However, most time, some of these cryptocurrencies might have been trading on other cryptocurrency exchange, so the best thing is to utilize the “crypto data aggregator” tool to find the exchanges where the crypto asset is trading and buy there before Binance announce the listing of the coin or token.
Final Thought
The easiest and best way to make significant ROI (return-on-investment) with cryptocurrency is to know how to find new crypto coins. And this article has explained all you need to know to find new crypto coins.
Likewise, you should not just buy any new crypto asset you discover because most of the new crypto is volatile and might expose you to the risk of losing your hard-earned money. Hence, it’s important to research the cryptocurrency you would be buying to know if it is worth investing in
