E The 4 Steps You Should Take Before Investing In A Lower-Tier Cryptocurrency

Whether you’re of the firm conviction that Bitcoin is on the heels of collapse and seeking refuge for your funds, or simply looking to diversify your portfolio, investing in “lower-tier” cryptocurrencies can prove to be a very profitable and wise venture.

With industry mainstays enjoying massive gains as of late, notably Litecoin (LTC) quadrupling in size last week and Ripple (XRP) inching towards that $1 mark, it’s clear where the short-term profits lie. But forward-thinking investors are already looking at the future prospects of the young cryptocurrency market, searching for the next class of tokens that will mature in 2018 and beyond at the exorbitant rates that we’ve become accustomed to in the cryptocurrency world.

The industry has been booming in unprecedented fashion. In the past year alone, the total market cap valuation has grown 40x in size, soaring from just under $15 billion last December to more than $630 billion at the time of this writing. That number continues to get larger week over week, demonstrating the steady influx of interest and financial backing the industry is receiving, and shining light on where it will continue to go. At this point, it’s safe to say that a $1 trillion market cap is inevitable and staring us right in the face.

Consider this: Coinbase, at the center of all the madness, was adding something to the tune of 100,000 new customers per day before adding Bitcoin Cash (BCH) to its platform, which has now created even more buzz than anyone imagined possible. The San Francisco based unicorn is also reportedly bringing in hundreds of new employees to try and contain all newfound demand.

But while Coinbase only exchanges 4 cryptocurrencies, albeit arguably 4 of the most important at the moment, those new to the cryptocurrency community are quickly learning just how many options they have in front of them. To better quantify, there are currently north of 1,350 digital assets and currencies listed on coinmarketcap.com. An important lesson that a cryptocurrency novice will learn with time, however, is that all Bitcoin (BTC), Bitcoin Cash, Ether (ETH), and Litecoin came from much humbler beginnings than their current prices convey. With that in mind, the search to discover the next tokens to boom is on.