For many beginners who are jumping into crypto for the first time, they will be a lot of coins in mind. But in most cases, the focus will be on the bigger established cryptocurrencies like Bitcoin or Ethereum. There is nothing wrong with buying these mega-caps, but it’s also very easy to avoid other important coins. Here is why:
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Most beginner crypto investors don’t typically have enough knowledge of crypto.
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Finding hidden gems in the crypto market is never easy.
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Beginners are typically very risk-averse in nature.
Despite this, it is important to know some of the coins surprisingly avoided by beginner investors. Here is the list.
Monero (XMR)
Monero (XMR) is actually one coin that has been trading in the crypto market for years. In fact, it would be strange to consider Bitcoin and not consider Monero in there too. Also, the coin has received a lot of media coverage over the years, and chances are you may have come across it.
Data Source: Tradingview
But beginners will not take the chance on Monero simply because they don’t understand how this privacy token works. But this is a mistake since XMR still has so much potential under its belt.
USD Coin (USDC)
Not every person buying crypto wants to 10x their money. There are also a lot of folks who want to buy crypto as a store of wealth. There are of course many coins that offer that in fact, many beginners would go for the heavy hitters like BTC. But if you don’t want any risk, USD Coin (USDC) would be the ideal option.
Yearn Finance (YFI)
Outside Bitcoin, Yearn Finance (YFI) is one of the most expensive tokens in terms of price per coin. It may therefore seem like it is priced out. But when you look at the market cap, it’s actually very low. It’s therefore easy to ignore the coin, thinking it’s overpriced while it’s actually not.