Hello, I'm very new to the alt crypto currency scene and I'm just beginning my research on basically everything so please excuse me if this sounds simple.
My idea is to invest a small sum of money over 5-10 alt coins (no idea which ones as of yet) for the long term say 2-3 years.
If I invest for example $10 in an altcoin with price currently at $0.10 per coin I would have 100 coins in my wallet. If I were to check the price again in one year to discover that the price has increased to $0.20 would I have made 100% percent profit? Is that basically how it works?
What are the risks involved with an altcoin that is really cheap say $0.01 but with potential to increase a lot in value compared with a more popular and well established coin in the top 10 which is worth for example $50.00 per coin?
Thanks.
yeah that how it work, but altcoin are now, especially the small one, to be unstable and instead of $0.1 to $0.2 you get $0.05, and lose 50%, you need to diversificate but you also need to aim well and not buying blindy because many alt are a trap, there are some good pos coin like rain condensate which can give you a return per year if you invest something in, you do nothign and get money