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How To Buy Cryptocurrencies At A Discount Or Cheap Prices Early

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How To Buy Cryptocurrencies At A Discount Or Cheap Prices Early

How To Buy Cryptocurrencies At A Discount Or Cheap Prices Early | Image Source: Pixabay

The rapid growth of many types of cryptocurrencies over a period of a few months and years are usually life-changing financial events for thousands of people around the world who own those cryptocurrencies in large volumes. And for even those who own in small volumes, the profits they can earn from selling the cryptocurrencies can be substantial, percentage-wise.

But there’s one problem…

Once most cryptocurrencies experience rapid growth, they get listed on some of the most popular exchanges like Binance, Kucoin, and the likes, and then their growth stalls or moves very slowly. The unfortunate part is this when most people start buying the cryptocurrency because it is now popular in the media and amongst other traders, and so, it’s growth moves either very slowly or even falls rapidly.

What if there was a way to get in on a cryptocurrency very early with the prospect of making 10X to 1000X profit margins before it gets popular and eventually listed on well-established cryptocurrency exchanges?

If you’re looking for how to purchase cryptocurrencies at a large discount before they hit the major exchanges for the public to buy, here are the two most common ways:

See Also: How To Start Trading Cryptocurrencies In Nigeria or Africa: The Complete Guide

 

1). Initial Coin Offerings (ICO):

An initial coin offering (ICO) in the cryptocurrency world is just like an Initial Public Offering (IPO) where companies sell shares of their firm to the general public to raise money. With an ICO, the founders of a cryptocurrency token promote the cryptocurrency before it launches and then sell an initial quantity of the cryptocurrency to the general public so they can raise money to launch a product or service that would be associated with the cryptocurrency, or even just to launch the cryptocurrency without any use case but with the goal of raising money from its ICO.

One advantage with Initial Coin Offerings is the prices of the cryptocurrencies are always usually cheap and when they launch they could rise by 100-10,000% within the first few weeks. But just as they have the ability to experience such rapid rises, they can also crash to 100% within the same period.

If you want to get a cryptocurrency at a heavily discounted price very early, buying through an Initial Coin Offering is one method.

See Also: How To Do Research On A Cryptocurrency Coin Or Token Before Investing

 

2). Decentralized Cryptocurrency Exchanges:

When cryptocurrencies are first launched, they’re highly volatile, and so, centralised exchanges do not usually list them at that moment in time to avoid their clients potentially losing a lot of money if it crashes. Instead, they are traded through decentralised exchanges like PanCakeswap and UniSwap which are hosted on the Binance Smart Chain network and the Ethereum network respectively.

Historically, most cryptocurrencies that are only first available on decentralised exchanges rise by 500% to sometimes over 10,000% before they make it to the top exchanges like Binance and Kucoin. One great example is the Shiba Inu token which grew by over 1,000,000% before it got listed on some top exchanges.

If you want to get cryptocurrencies at discounted prices before they get listed on popular centralised exchanges with a chance to make up to or more than 1,000% profits on them, buying first on decentralised exchanges is important.

Some of the most popular 15+ decentralised cryptocurrency exchanges you can buy cryptocurrencies that are not yet trading on exchanges are:

  1. Uniswap
  2. PanCakeswap
  3. dYdX
  4. TraderJoe
  5. SushiSwap
  6. QuickSwap
  7. Shibaswap
  8. Kine Protocol
  9. Honeyswap
  10. Spookyswap
  11. Raydium
  12. Dodo
  13. HoneySwap
  14. TerraSwap
  15. THORChain
  16. Osmosis
  17. Curve Finance

See Also: 25+ Centralized Cryptocurrency Exchanges To Easily Buy And Sell Cryptocurrencies On

 

Since these exchanges are decentralised, it means you cannot store your cryptocurrencies on them as they do not own their own servers. As a result, you’d need to store them in a wallet that is either hosted on your mobile phone, computer, or on the cloud.

 

How To Store Your Cryptocurrency If You Buy From A Decentralized Exchange

1). Hot Wallet:

Hot wallets are digital wallets where you can store the cryptocurrencies that you own. It usually requires an internet connection to access it, and so, can be prone to remote attacks by hackers trying to steal your cryptocurrencies. They can be web-based, mobile based, or desktop based.

Some of the most popular types of cryptocurrency hot wallets that are used to store cryptocurrencies bought on decentralised networks are:

  1. Trust Wallet
  2. MetaMask Wallet
  3. Electrum Wallet
  4. Coinbase Wallet
  5. Edge Wallet
  6. Exodus Wallet
  7. Mycelium Wallet
  8. Argent Wallet
  9. Rainbow Wallet
  10. TokenPocket Wallet
  11. Pillar Wallet
  12. imToken Wallet

 

2). Cold Wallet:

After buying your cryptocurrencies on a decentralised exchange and storing it in a hot wallet, you can further move them to a cold wallet for better security.

Cold wallets are hardware wallets that store cryptocurrency tokens offline and are secure because hackers would need to have direct access to the hardware wallet to be able to use them, as opposed to hot wallets that can be accessible via the internet.

Some of the most popular types of cryptocurrency cold wallets that are used to store cryptocurrencies are:

See Also: What Is A Cryptocurrency Wallet And How Does It Work? Everything You Need To Know

 

To Sum It Up

Trading cryptocurrencies can be extremely risky since their prices are very volatile and you could make insane margins in just one day, lose everything the next day, or simply purchase a cryptocurrency token and it stops moving as expected. If you’re looking for how to purchase cryptocurrencies at low prices with the hope of making large margins long before they make it to the major exchanges, then everything covered in this article will help you get started.

 

What are your thoughts on this article about how to buy cryptocurrencies at a discount or cheap Earlybird prices before they hit the major exchanges for the public to buy? Let me know by leaving a comment below.



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