6 Cheap Coins You Can Buy Right Now To Maximize Your Profits

And Why Bitcoin Is Not The Best Choice

So you’ve got some cash to spend on some crypto, but you’re not sure what to buy. Everywhere you look, you hear people screaming “Buy Bitcoin” or “Buy Ethereum”. But should you? If you’re looking to get the most profit out of those dollars invested, I don’t think so. Now that isn’t to say that I don’t think you shouldn’t have 1 or 2 or more Bitcoins in your portfolio if you can afford to hold it long term, and still have more to trade with, but for most people involved in the slow grind of building wealth and who don’t have the luxury of buying a Bitcoin— without putting everything they’ve got into it — there’s simply better options out there to maximize your profits. And these are 6 cheap coins you can buy right now which will do it.

Note: All the following information is recorded as of the date — 8th, October, 2022.

The most important thing to note about the following coins, and which I believe have the potential for big profits, is what their current price is right now vs. what their all time high price was. All of these coin’s prices have fallen significantly since their all time high prices, much more so than a lot of the coins in the top 100 rank, and if you’re looking to get the most out of your invested dollars, its worth giving some of these a look.

Now you may be thinking of just putting your money into the coin which gives you the best profit potential. Don’t do that. Remember, investing in crypto is still very risky. You should never invest money that you can’t afford to lose and equally important — never put all your money into a single project, that’s just a disaster waiting to happen.

So without further ado, here are the coins:

(Note: In the interest of transparency. I am currently invested in all of these coins.)

1. Kusama (KSM)

Coin Market Cap Rank: #93

Price: $43

All Time High Price: $623.75

Circulating & Total Supply: 8,470,098 KSM / 9,651,217 KSM

Profit Potential: 14x

Kusama is a scalable network of blockchains and an identical copy of the Polkadot Blockchain. Initially, Its purpose was to provide a pre-production environment for developers to experiment and test their Dapps before they’re released on the Polkadot network. That has since evolved where Devs are also deploying applications to both Kusama and Polkadot as opposed to just using Kusama exclusively as a testing ground.

While Kusama and Polkadot share many similarities, Kusama does have some advantages where it has modified governance parameters which means less restriction and faster upgrades. It’s also four times faster than the Polkadot network when it comes to voting on referendums and governance events. This essentially puts it in a better spot to adapt and evolve faster than its cousin network.

You can check out more info on the project here.

2. Compound (COMP)

Coin Market Cap Rank: #79

Price: $59.77

All Time High Price: $911.20

Circulating & Total Supply: 7,267,152 COMP / 10,000,000 COMP

Profit Potential: 15.24x

Compound is a protocol on the Ethereum blockchain establishing money markets where lenders and borrowers meet to establish loans based on algorithmically derived interest rates — depending on the supply and demand for the asset. The protocol allows users to interact directly with it and execute loans without needing to negotiate terms such as interest rates, maturity or collateral with peer or counterparty.

For more info you can check out the whitepaper here.

3. Venus (XVS)

Coin Market Cap Rank: #320

Price: $5.15

All Time High Price: $147.02

Circulating & Total Supply: 12,170,524 XVS / 29,745,110 XVS

Profit Potential: 28.54x

Venus is a protocol which establishes a money market on Binance Smart Chain (BSC) with the aim of providing a decentralized fund-based borrowing and credit system. Some of the benefits of the protocol is to reduce transaction fees, simplify lending and borrowing, allow for instant loans and to have no geo restrictions.

For more info, you can check out the whitepaper here.

4. Perpetual protocol (PERP)

Coin Market Cap Rank: #361

Price: $0.58

All Time High Price: $24.84

Circulating & Total Supply: 90,775,000 PERP / 150,000,000 PERP

Profit Potential: 42.8x

Perpetual Protocol is a software project which allows people to trade a variety of assets using a decentralized exchange (DEX). The platform supports up to 10x leverage and allows its users to trade across 15+ markets. And in less than a year had over $32 billion in trade volume executed on its platform.

You can check out more info on the project here.

5. Filecoin (FIL)

Coin Market Cap Rank: #36

Price: $5.47

All Time High Price: $237.24

Circulating & Total Supply: 296,041,787 FIL / 296,041,787 FIL

Profit Potential: 43.3x

Filecoin is the cryptocurrency which powers the Filecoin Network, a decentralized storage solution located on a blockchain, which aims to allow its users to store and retrieve or host any digital information / data. The fee paid by users is the project’s very own cryptocurrency Filecoins.

For more info on the project click here.

6. Moonriver (MOVR)

Coin Market Cap Rank: #327

Price: $11

All Time High Price: $495.71

Circulating & Total Supply: 5,501,245 MOVR / 10,498,498 MOVR

Profit Potential: 45x

Moonriver is the sister network to Moonbeam, and deployed as a parachain to the Kusama network. It functions much in the same way as Kusama does with Polkadot, where it is used as a canary network (testing ground) for devs to test and verify their Dapp code before it is then deployed to the Moonbeam network.

MOVR acts as the utility token for the Moonriver network and is used for gas fees, rewarding collators, facilitating on-chain governance mechanism and paying transaction fees of the network.

For more info on the project you can click here.

So why go for the above?

First of all, always remember to vary your portfolio and ensure that you have a wide variety of projects you’ve invested in to offset any losses suffered in one or more projects.

Since the Bear market has come about, we’ve seen many projects come to a crash, falling by 85% to even 95% of their all time high prices. This provides an excellent buying opportunity that doesn’t come around very often. You can be sure that by the next Bull run, a lot projects in the crypto space will recover to their all time highs and even shoot past them, so why not go for the ones that provide the best bang for your buck.

Let me illustrate my point with the following:

Let’s say that you had $19,483 to either spend it on one BTC, or you could buy any of the other coins / tokens with that same amount. Now if any of those coins were to hit all time high price again, compare how much more profit you’d be getting for any one of those coins vs the profit you’d be getting if you bought 1 BTC and sold it at its previous ATH price.

Simply put, the other coins provide a much better ROI on the amount you’ve invested, and it’s not even close.

This is why its important and especially during a Bear market — when it’s time to buy and there’s a ton of options — for traders to determine which coins would provide them with a better return on their money. Sure, there are safer bets. BTC and ETH are secure, trusted and have longevity on their side, more so than any project out there. But they don’t offer the biggest bang for your buck. And smaller traders who are still building their wealth should be going for coins that will give them the best returns and put them in a better buying position during the next Bear market.

It’s important to note that you need to do your own sufficient research. Some projects, you’re just not gonna like, or you won’t see the benefit of them as others may. It all comes down to what works best for you or what you’re comfortable to invest in. There is no guarantee that the above projects will reach all time high prices again, but that goes for other top ranked coins too.

In the end, investing in cryptocurrencies is all risky, some projects will have a higher risk than others, but my philosophy is if you’re gonna enter the arena, why not come out with the bigger rewards?

Good luck and happy trading!

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