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.
The more risk you take, the higher chance you will become rich. Let me say this, if you invest your money in bitcoin, you will surely earn a great amount of money in the next 10 years, maybe x2 or x5 of your capital. And the risk of losing money in bitcoin is very low. But if you do not like bitcoin and you start investing your money in some infamous coin, you will probably earn x100 profit in less than a year but the higher chance that the coin will be destroyed or something like that, which will make it no longer valuable