I can’t lie, my whole crypto journey got started during the DOGE era. Hearing about how people put a couple of thousand into it and became Millionaires sucked me right in, what I wasn’t hearing about were the countless people who were left holding bags.

Typically, as a noob investor, I searched for coins that had a low price and came across BitTorrent (my $100 investment in them sits at around $60 atm). I spent my first 6 months in crypto without once investing into the likes of Bitcoin and Ethereum, I mean what’s the benefit of owning 0.03 BTC when I can have 20,000-30,000BTT? Lesson learned here = market cap and tokenomics (READ AVOUT IT).

If you’re only investment strategy here is to look for the next coin that will x100 so you can get rich over night, chances are you will 99% of the time end up in a worse position than before.

To put it into context:

In 2013, there were circa 66 cryptocurrencies, which increased by about 1592 up to 1658 over a 5 year period (March 2018). At the start of 2021, we sat at circa 4501 cryptocurrencies, which increased by about 3056 in the space of 9 months up to 7557 (November 2021).

Sauce: https://www.statista.com/statistics/863917/number-crypto-coins-tokens/

With crypto becoming more mainstream, it was always going to attract more scammers. Rug pulls are notoriously infamous in crypto, invest smart and be safe.

TL;DR - if you’re here only for the next x100 coin, you’re missing out on an incredible investment opportunity.