One of the biggest misconceptions in Cryptocurrency for newbies

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One of the biggest misconceptions in Cryptocurrency for newbies

I have lost count of the times I have seen people comment saying BTC and ETH are too expensive to invest in and it does not make financial sense to invest in something valued so high. This is generally followed up by individuals saying it is more worthwhile and financially sound to invest in cryptocurrencies under $1. There is a believe that this will have a chance of doing what BTC did and 50000x in price. This is of course fundamentally flawed.

There is only 1 area of this logic that I can agree with. It is similar to small cap stocks/penny stocks. They have MORE room to grow in the sense they are VERY early on and if it is an extremely solid project and marketed right, this has more financial reward. HOWEVER, and this is a monstrous HOWEVER, actually successfully picking this gem of a project is extremely difficult and the sheer number of these projects that are scams, shitcoins is high. Look at the number of alt coins from the 2017/2018 bull that have disappeared and they were highly regarded in the space. And even if you pick a fantastic project, it doesn't even mean it will succeed. People leave jobs, marketing fails, the public don't invest etc.

Ultimately, it doesn't matter what the price of the cryptocurrency is. You don't have to buy a WHOLE BTC or ETH. if you have 1 BTC or 0.01 BTC, a 100% gain is still double your money. This is the same for a 100% gain in BTC valued at $57000 or VET valued at $0.20. Both would net you the same profit. And no, VET is never going to get to the same price as BTC, that would literally require astronomical amounts of investment to do.

If you are a new investor, and actively investing in this space. Please don't make this mistake. Don't let greed and a fantasy of a better life blind you from reality. A low-price coin does not give you better odds of making better returns, more often than not, I'd actually argue it will give you less.

submitted by /u/anon8496847385
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