Beginner tip: a $0.001 coin is not "cheap"
Price alone tells you almost nothing. What matters is market cap = price x circulating supply.
Coin A: $50 with 10 million coins out = $500M
Coin B: $0.001 with 1 trillion coins out = $1B
Coin B is the bigger project by value. For it to reach $1, its market cap would have to hit $1 trillion.
So before buying something "because it's under a penny", check the supply on the coin's info page and do the math first.
Ever bought a coin just because the price looked low?
#cryptoeducation #crypto #altcoins #Binance
Price alone tells you almost nothing. What matters is market cap = price x circulating supply.
Coin A: $50 with 10 million coins out = $500M
Coin B: $0.001 with 1 trillion coins out = $1B
Coin B is the bigger project by value. For it to reach $1, its market cap would have to hit $1 trillion.
So before buying something "because it's under a penny", check the supply on the coin's info page and do the math first.
Ever bought a coin just because the price looked low?
#cryptoeducation #crypto #altcoins #Binance