unlisted cryptocurrency -How to buy?
Unlisted cryptocurrency is not yet registered with any exchange or have not fulfilled registration criteria. So, if anyone is interesting in buying unlisted cryptocurrencies, how can I do so?
Many founders of new cryptocurrencies offer pre-sale options. Subsequently, interested investors can purchase these unlisted coins directly from the team without the involvement of any exchange.
We are going to discuss the procedure for buying unlisted cryptocurrency. In addition, we will guide why one should purchase such most volatile cryptocurrencies and the points to consider before making such a risky move.
So, let’s start.
Steps to buying Unlisted Cryptocurrency
Buying unlisted coins is as simple as a walk in the park. However, it is as risky as well.
To get your hands on a potentially high-return cryptocurrency, follow the below steps.
Step 1: Choosing an unlisted cryptocurrency
Importantly, choosing the unlisted cryptocurrency is a painstaking task. Because if you select crypto with low return potential, you may lose your investment.
So, always do extensive research before opting for any unlisted coins.
Step 2: Identify the Pre-sale platform
Secondly, locate the blockchain or platform where this crypto is currently available for sale. Alternatively, you can contact the founders to get this information.
Step 3: Log in to the e-wallet
Once you have identified the platform where your desired unlisted coins are available, you need to log in to your e-wallet.
It is required as you have to transfer coins to your custody. Why do you need an e-wallet? Well, the answer is since the coins are not currently listed; hence you cannot store them with your exchange.
Step 4: Swap coins
Copy the blockchain address and paste it into your e-wallet (like a Trust wallet).
Click the buy option to swap coins. You can pay through fiat money or any other famous crypto coin. Furthermore, you can quickly refresh your e-wallet to check your updated balance. You will have to pay extra money for transferring to your wallet.
How to choose the unlisted cryptocurrency
Risk assessment should mandatory while buying unlisted coins. Since they do not have legal backing, it becomes even more pivotal. In addition to doing your research, we recommend you seek professional advice.
Below are essential points to consider before any investment decision in unlisted cryptocurrency.
- Legality: Compliance first! Always check the background of the project. Since many new projects have hit the crypto market, knowing which ones are legal is essential.
Investing in illegal coins may lead to the loss of the entire investment. Furthermore, you can contact brokers to check insights regarding a new crypto project. - Ease of Trade: The more accessible the buying-selling, the better the ecosystem. Unlike complex trade platforms, you should choose one with an easy user interface.
- Risk: Risk is one of the significant defining elements when deciding on an investment in unlisted cryptocurrency. The volatility associated with a new coin is always high.
Thus, risk seeker investors always look for highly volatile currencies. Currently, the entire crypto ecosystem is opaque; you do not find exact reasons behind the investment. Therefore, stay alert and always keep a close eye on your portfolio. - Liquidity: Liquidity is the ease of transferring crypto coins into hard cash. An investment with 100% return and zero liquidity is of no use. Unquestionably, you should accurately measure the liquidity of the coin.
Since unlisted coins are traded in an unofficial market, brokers are the only information source. Additionally, you can follow currency trade graphs to check whether there are enough buyers in the market. - Taxes: Another critical factor to consider is the tax. Usually, unlisted coins’ rate is high in tax. So, calculate your returns by taking the tax impact.
What are the differences between unlisted and listed coins?
The below factors distinguish listed and unlisted cryptocurrencies.
- Unlisted cryptos are generally less price sensitive as compared to listed ones.
- Unlisted coins are “Valuable Bets” as they promise higher short-term returns.
- Data reveals that unlisted coins are more successful than listed coins.
- Unlisted cryptos are ideal for short-term investment.
How to get the maximum return on unlisted cryptocurrency?
The sole purpose of investing in unlisted currency is to make a high margin. Here are a few tips to get unbeatable returns.
- Do thorough research about the financials of the company issuing coins.
- Consult two to three brokers.
- Always invest in facts, not the story.
- Never invest in cryptocurrency sliding down unless you bear the otherwise knowledge.
- Check for applicable charges of the broker and taxes involved.
Conclusion
Buying unlisted coins is not a difficult task. You can buy them from any trusted brokers. However, the critical thing to understand is the risk associated with a particular coin. Your research can make or break the investment.
We always recommend consulting professionals before opting to make such a volatile investment. We hope you are well-versed with all the necessary information to buy bitcoins, altcoins and unlisted cryptocurrencies.
We aim to provide the latest information on cryptocurrencies, so keep visiting this space for related articles.
Frequently Asked Questions
You can contact reputed brokers who deal in unlisted crypto coins. Brokers usually require a DEMAT account to trade in unlisted crypto coins.
You can buy cryptos before they get listed; it is usually done through pre-sale. You can contact the authorized dealer and buy coins through a pre-sale option.
You can follow the below procedure to buy unknown coins,
● Research for potential unlisted coins with high return potential
● Convert your fiat money into digital money
● Choose an exchange
● Find the correct currency pair
● Trade unlisted coins with your digital currency
The best way to determine whether a coin will pump is to check its price chart. Generally speaking, a 5% increase in less than five minutes indicates that the currency will pump.
Unlisted coins are more suited to short-term investment. You never know how an unlisted coin can perform in the long term.