Coinnewsextra, a well-known media platform that reports news with a vision to develop Fintech, AI and Blockchain literacy in Nigeria, Africa and World at Large, launched another educative series tagged “Cryptocurrency Market review and coin analysis”. You can always join us for another episode every Thursday on ….
The first episode was based on Altcoin with Abhilekh Verma – a sales trainer and business coach and Leo Ucheoma – CEO, Coinnewsextra.
What are Altcoins?
Just as the name implies, Altcoin is simply “Alternative Coins” to Bitcoin. Altcoins are other cryptocurrencies launched after the success of Bitcoin. Generally, they sell themselves as better alternatives to Bitcoin.
Why Alticoin now?
On average, 70% of people reading this article can agree to the fact that they know more about Bitcoin than Altcoin. But what about giving Altcoin a try!!!
One amazing fact about Altcoin is that one can start with very low investment and get a very high return compared to Bitcoin.
According to Abhilekh, the other reasons why you should consider Altcoin are;
- Diversification in investment
- Hedge your bets (own multiple Coins)
- Safe to invest due to their good history
There are various Altcoins which includes Ethereum, Cardano (ADA), Dash and so on. For the purpose of our study, more focused would be placed on Cardano(ADA).
Cardano(ADA) is a decentralized public blockchain and cryptocurrency project and a fully open-source smart-contract platform to rival Ethereum.
From Abhilekh’s presentation above, Cardano roadmaps show that ADA price has the potential of growing very fast. Abhilekh added: “if someone has a good roadmap, it shows that they have good projects coming in… that definitely means there is a high chance that they are already successful and a little bit of investment that would derive a higher return.”
How long should you hold Cardano?
According to Abhilekh, you should hold Cardano for a period of 2 years. Why?
Looking at case studies, goals and historical data coupled with its Reddit activities, strategic intent and trust factor, it is very evident that the value of Cardano(ADA) would increase sharply within the span of two years.
What Investment is worth it?
Based on Abhilekh’s analysis, investing a $1000 might give an ROI of $132000 in 2 years as shown below:
Disclaimer: This is not financial or legal advice but Abhilekh’s personal views. Abhilekh and or Coinnewsextra would not be held responsible for any loss. Please do your own research before investing in any amount.
For more information, you can contact us @coinnewsextra on any social platform or Abhilekh at [email protected]