What Are Gems?

In this post “What are Gems?”, you’d learn how to buy gems, how to find the next 100x crypto gem before everyone else, where to find hidden gems and many more about crypto gens

Gems are low-cap currencies that are largely unfamiliar but have a lot of promise or are severely discounted.

What are Crypto Gems?

Gems are low-cap currencies that are largely unfamiliar but have a lot of promise or are severely discounted. Spotting prospective gems is difficult since a gem has no specific characteristics other than the notion that it will ultimately pump.

When evaluating prospective diamonds, though, a couple factors must be considered, including market size, volume, supply, and fundamentals.
To begin with, diamonds are currencies or tokens with modest market capitalizations that have yet to gain traction. As more individuals become aware of them, their trade volume tends to rise. Furthermore, they often use shortage strategies such as a financial supply ceiling, such as Bitcoin, or a deflating approach.

This isn’t a rigid law, though, because certain gems are also inflationary.
Underlying principles are the most crucial, but also the most difficult, component of gem searching. You must be aware of a project’s latent worth, which may need operational and economical expertise. “Is their offering a game-changer?” “What is this project’s easy win?” “How skilled is the team?” are some of the inquiries you should address while doing basic review and study.
The most valuable cryptocurrency on the marketplace today were previously precious stones. When Bitcoin was initially released to the public, only several people would recognize it for the valuable asset that it was. But those who did were financially compensated.

When it comes to gem seeking, though, you must walk carefully and never skimp on your homework. Although certain coins may increase by 100 times in a few months, the majority of them will eventually plummet to zero.

How to Purchase Gems

On decentralized platforms, some cryptos, such as Gems, may only be acquired with some other cryptocurrency. To acquire Gems, you must first acquire Ethereum (ETH), then use ETH to buy Gems. And in order to accomplish so, you’ll require a self-custody wallet. For citizens of the United States, this is how to do it using Coinbase Wallet.

Get the Coinbase Wallet.

To buy Gems, you’ll need a self-custody wallet like Coinbase Wallet. A mobile app and a web plugin are also supported for Coinbase Wallet. Here’s where you can get Coinbase Wallet.

Pick a username for your Coinbase Wallet.

You’ll need to pick a username as part of the Coinbase Wallet setup process. This username makes it simple for other Coinbase Wallet clients to transfer you cryptocurrency. You may keep your username secret if you like, but you’ll need it to log in.

Keep your recovery phrase safe.

You’ll be issued a recovery phrase made up of 12 random words when you establish a new self-custody wallet. The recovery phrase is the secret to your crypto, which means that anybody who knows it has accessibility to it. Do not tell anybody your recovery phrase.

We highly advise jotting them down in writing and carefully preserving them. As well as utilizing the Coinbase Wallet cloud backup tool.

Ensure not to tell anybody your recovery phrase. Users will never be asked for their recovery phrase by Coinbase. Coinbase will not be able to assist you if you forget your recovery phrase.

Recognize and budget for Ethereum network costs.

Charges are determined by the amount of network congestion, the complexity of the operation, and how quickly you want the deal to be performed. Make a provision for fees in your budget where you can learn Ethereum costs.

Purchase ETH and deposit it into your Coinbase Wallet. Depending on whether you’re using the mobile app or the Chrome extension, the manner you send ETH to your Coinbase Wallet differs.

In the trade tab, use your ETH to purchase Gems. You can buy Gems straight in the Coinbase Wallet app if you have it installed on your smartphone. Toggle on to the “Trade” page, where you may exchange ETH for any Ethereum-based token. (Also known as “ERC-20 tokens”). Click Gems from the “choose coin” menu. Enter the quantity of ETH you want to trade in for Gems.

Don’t forget to budget for transaction costs. Verify your order and complete the process by following the on-screen prompts.

Click the “Convert” option if you’re using the Coinbase Wallet plugin. Enter the quantity of ETH you’d want to swap for Gems and browse for Gems. Don’t forget to budget for transaction costs. Verify your order and complete the process by following the on-screen prompts.

How To Locate Upcoming 100x Crypto Gem Earlier than Others

It’s exciting to learn about people who put a few thousand units into a crypto and transformed it into huge amounts of money. Shiba Inu (SHIB), a currency formed as a derivative of Dogecoin (DOGE), was founded by two siblings from New York. Their original investment has grown to approximately $9 million.

Dogecoin was founded as a jest and gained widespread popularity thanks to Elon Musk’s tweets. Many billionaires have been made thanks to meme currencies and altcoins, as well as meme stocks like GameStop and AMC. However, at the point all have heard about it, it is usually too late. The major profits have already occurred, and if you rush in because you’re afraid of missing out (FOMO), you’re likely to lose money.

The objective is to locate these crypto jewels ahead of the competition. And you may do it by using various methods for locating them. I’ll go through the most common tactics for finding the next 10x, 100x, or 1000x crypto gem. Let’s get started.

Interested in learning more about Crypto Gems?

Crypto gems are underestimated, out-of-the-public-eye crypto coins and tokens that have the ability to yield significant returns. These new coins are often offered at a cheap price. Generally under a penny apiece, and offer the prospect of high profits. Since these currencies have a lower overall market capitalization (sometimes simply termed a market cap), increasing their value by 100x needs a lot lower market involvement and volume. To grow 100 times from where they are now, Bitcoin (BTC) and Ethereum (ETH) would need billions upon billions, if not trillions, of dollars in fresh cash.

It’s also crucial to be able to distinguish between scammers and legitimate coins. Even with legitimate coins, there is a considerable level of danger. I’ll explain how to recognize hazards and make informed judgments while purchasing these currencies.

What to Consider When Buying Cryptocurrency Gems

You may use a variety of variables to decide if the vulnerability ratio of purchasing a certain coin is worthwhile. It’s not necessary for a crypto gem to have all of them, however the more the brighter, and the better the probability of it turning out to be a crypto gem. The following are the most important:

The Creators of the Coin

The best point to begin your study on a coin is to peek at the entire project.

Take a peek at the site and see who is sponsoring it. Check out what other initiatives they’ve worked on, how competent they are of keeping on their commitments, how engaged they are on social media networks, and if they take public ideas into account. Examine how the currency connects to the crypto environment, as well as potential use cases and the project’s direction.

While you’re investigating the team, find out who the project’s supporters are. Crypto venture capital companies often support many projects, and you may check to see if they are reliable and if any of the currencies they have previously sponsored have done well.

The Coin’s Value

The impact of a coin’s pricing is a complicated issue since the result is mostly attributable to human behaviourism. When consumers contemplate purchasing Bitcoin, the present cost of 1 coin is in the thousands of dollars, owning a portion of a Bitcoin does not seem enticing.

When purchasing a coin valued quarters of a penny, though, it seems great to declare you possess tens of thousands of them and then imagine how much your treasure will be valued if the coin hits a cent or even a dollar. This is also why firms often divide their shares to attract ordinary investors.

However, with crypto, it is critical to weigh a coin’s entire market cap, which is computed by multiplying the quantity of coins in existence by the coin’s value. Bitcoin is now priced at $34,000 and has 18.7 million coins in existence, having a market capitalization of $640 billion as of this publishing. Dogecoin has a market valuation of $30 billion, with a price of $0.23 and 130 billion total supply. Many DOGE investors have now done some mental math to figure out how much their assets would be valued if one DOGE hit the value of one BTC.

However, if one DOGE achieved that price, DOGE’s entire market capitalization would be $4.4 quadrillion, or almost 50 times the global GDP. Look how silly that is?

So, although a low price is good since the currency gets more appealing owing to human psychology, bear in mind the amount of coins in circulation and establish reasonable aspirations.

Taking a look at the Smart Contract

Many of these currencies are produced as tokens on blockchains such as Ethereum or Binance Smart Chain. They are generated using smart contracts, which are irreversible and define all of the coin’s functionalities and attributes. While this may seem confusing at first, after learning more about smart contracts and gaining some expertise, it becomes clearer what the smart contract can do and how the token was formed. For instance, whether the smart contract’s proprietor has the ability to mint additional tokens, how many tokens he has, and how the tokens were distributed. It also assists in determining if any attacks are available due to code flaws.

Coin holders’ number

It is able to maintain record of how many varying wallets store the coin. As well as how much wallet contains using blockchain explorers. Such as Etherscan for the Ethereum network and BscScan for the Binance Smart Chain. The number of holders should generally grow as the currency becomes more famous. Particularly for new currencies, and no one wallet should store too much of the coin.

Watch out for these crypto gems’ danger signs

Let’s speak about the red flags you should beware now that we’ve covered what to seek for in inexpensive coins.

High expectations


If something seems to be too good to be true, it almost certainly is. If the team claims that this currency will increase 100-fold in a week or that you will earn 10% interest everyday if you keep it, flee for the hills and don’t purchase it. They are always attempting to inflate the coin’s cost in order to offload their own bundles onto these new purchasers.

Code flaws that might be exploited as previously stated. t is difficult to interpret a smart contract and determine whether or not attacks are conceivable. So many people just assume someone else has done their thorough research and that the smart contract is secure.

To boost the credibility of their currency, several projects pay companies like Certik and Hacken to do smart contract inspections and then disclose the findings. It does provide more confidence that the smart contract will not be abused.

In the temporary, an active team with loyal followers in the community outperforms a team focused on developing something wonderful. owever, in the long term, even if their product is superior. 

Poor Tokenomics

The word “tokenomics” refers to the study of cryptocurrencies. The method by which the currency was distributed, the use cases, the vesting schedule, the total supply, and the amount are coins in circulation. Original supporters and crypto investors who acquired coins at a big reduction and are just hoping for their coins to release so they can sell them and return their original investment with gain are the most common currencies with improper tokenomics.

Where to find Undervalued Crypto Gems

While some people depend on contacts and celebrities to tell them about crypto gems, the highest profits come from finding these coins first, before others.

The best areas to seek for them are:

New Decentralized Exchange Listings

Every time a new coin is made, it must be posted someplace so that it may be traded. Because publishing a currency on well-known and renowned centralized crypto exchanges like Coinbasex or Binance is expensive and complex. s well as requiring numerous conditions, many new currencies are instead launched on decentralized exchanges (DEXes), where anybody may list their coin. On the Ethereum platform, the most popular DEXes are Uniswap and SushiSwap, and on the Binance Smart Chain, PancakeSwap.

A listing is the quickest way users can purchase a coin. side from investing in a coin even before it’s released, which is difficult to get an allotment for. Unless you are a role model in the space and the squad approaches you. There are also services, such as ListingSpy, that show all new listings across all DEXes.

Websites that track Prices

You may utilize price monitoring tools like Coinmarketcap and Coingecko to find crypto gems. These services include practically every token with at least some trading volume and are excellent for locating discounted currencies. They’re usually sorted by total market capitalization, so you’ll have to go back a few pages to find coins with a market capitalization of $500,000 to $10 million and some trading activity.

Once you’ve found these coins, you’ll need to conduct some investigation into the project. The team, the community, how engaged it is, and how the value has changed. Then decidg if the risk/reward ratio is favorable enough to purchase any of them.

Group Chat Apps

Telegram and Discord are the most popular group chat tools in the bitcoin space. Traders form their own teams to talk about new currencies, transmit signals, and hunt for gems. Teams form groups so that they may interact and make public statements to the community more readily.

These are excellent resources for learning about prospective and current coins, staying current on trends, and sharing advice with other market participants. Always take into consideration that many people are just peddling coins they already own in the hopes that others would buy into them. Rather than mindlessly believing what somebody says, conduct your own investigation.

Twitter and Reddit

The cryptocurrency sector is dominated by Twitter and Reddit. This is where the news breaks, promotions are made, and the OGs (original gangsters, people who have been involved in crypto for a long time) gather to talk about all things crypto. Investors discuss their methods, teams discuss what they’re collaborating on, and fresh coins become popular.

Whenever a currency has mooned and skyrocketed in value, a viable alternate technique is to check Twitter for folks who referenced it initially and follow them to see if they reference any fresh coins.

Social Media Channels

Endorsers discuss about cryptocurrencies and peddle popular coins to their audience on social media channels like Instagram, TikTok, Youtube, and even 4chan. Although their claims are sometimes devoid of reality, the reality that they can quickly touch millions of supporters and boost coins makes it worthwhile to actually listen to them in order to learn about which coins are getting famous.

Explorers of Blockchain

Etherscan and BscScan are blockchain explorers that enable you look at any coins or crypto-wallets in detail. You may utilize them in two distinct ways to locate crypto gems. The initial step is to track down well-known wallets and see what they’re purchasing.

You may look for wallets controlled by venture capital companies to see what currencies they’re purchasing, or wallets held by devs to see when new coins are released. Yearn.finance (YFI), created by Andre Cronje, is a famous example. Within one month, the value of YFI rose from $3 to $30,000, and those who followed his pocketbook got in early and profited handsomely.

The second option is to do some study on a coin and see who the initial purchasers were, then start monitoring those wallets. They are often anonymous, but it is simple to observe their activities and see whether they have made a string of good judgments, and then begin emulating what they are doing.

Keeping up with the times. Finally, it’s a good idea to keep an eye on the market and stay one move ahead of the game. When the Ethereum blockchain faced high transaction fees, many people switched to the Binance Smart Chain, where operations were inexpensive. Several of the projects established there were merely versions of developments on the Ethereum blockchain. And their value grew as more people switched over and acceptance grew. An instance when Cardano (ADA) was famous and at all-time highs is another instance. The usage and price of DEXes like CardSwap and IDO platforms like CardStarter based on the ADA blockchain also increased.

Who should be interested in Crypto Gems?

Those who are willing to take risks. Dealing in unfamiliar coins with a low market capitalization is a dangerous move.
Swindlers are increasingly common because of their structure; vulnerabilities in smart contracts are exploited, and they typically collapse as soon as they rose. As a result, it appeals to individuals who are willing to take chances and can end up wasting some of their money.

People who have the luxury of time. It takes a long time to look for cryptocurrency gems on your own.

And after you’ve found them, keeping track on how the price is changing, how the community is expanding, and any updates and releases about the currency requires awhile.

People have a limited amount of money to invest. These coins are better suited to people with smaller investment amounts since they need less volume to influence their price. Putting $100,000 into Bitcoin won’t change its price, but putting that much money into a little currency could already be too much. As a result, it is better suited to small-scale investors.

Who should not be interested in Crypto Gems?

Anyone who is afraid of taking chances. Hunting for crypto jewels, as previously said, is a high-risk enterprise. These tactics should not be used by anybody who is risk averse and cannot afford to lose their money. For such folks, buying currencies like Bitcoin and Ethereum and holding them for the long term is a viable option.

Those who are unfamiliar with cryptocurrency. To employ these tactics, you’ll need some understanding of the crypto world. Understanding of how DEXes function and how to utilize them, as well as how to use blockchain explorers and maybe interpret smart contracts. This is something that can be learned through time, but seeking for crypto jewels is definitely not the greatest method to do so.

FAQs

Is it dangerous to invest in cryptocurrency gems?

It’s a high-risk situation. It’s fairly unusual to lose your money a few times in a row before making a 100x profit on another coin. As a result, don’t put all of your money into one project. Instead, practice risk management and diversification.

Do I have to use all of these tactics?

Certainly not. Most people just concentrate on one or two tactics and go in-depth with them, so they can readily find crypto jewels via experience. Choose the one you feel most at ease with and give it a go.

Conclusion

Generally, searching for crypto gems and discovering them before the rest of the world does is hazardous and time-consuming, but it can also be quite profitable. Stay updatedt for red signals, be willing to lose some money, and you’ll find it simpler to discover these gems and economically trade them with time and expertise.

Now would be a great moment to seek for those hidden gems. The market has calmed down a little, prices have become more realistic. And now is the ideal time to hunt for and identify those projects and currencies that are expected to skyrocket once the market picks up again.

Finally, here is a list of more related topics you might find interesting:

  1. Blockchain Technology
  2. Defi
  3. NFTs
  4. DAOs
  5. Crypto
  6. Web 3.0
  7. Altcoin Tokenomics
  8. Metaverse
  9. Smart Contracts

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