How I Plan to 10x My Crypto Stake Using Some Surprisingly Wise Reddit Advice
You have to dig through mountains of dirt, but there’s gold in those subreddits
***Disclaimer: I’m a cryptocurrency enthusiast, not a financial professional. Invest at your own risk using money you can afford to lose.***
My cryptocurrency (crypto) portfolio has mostly been going up lately, but I’d like to increase my stake ten-fold in the bull market of 2024–25.
I’m not the only person who would like to 10x a crypto stake over the next 24 months. Reddit user SKy88888888 posed this compelling question to the Coinbaise subreddit community:
Which crypto will 10x during the 2024–2025 bull run?
This question was asked 3 months ago, but people are still responding to it. There were more than 250 comments, and much of that advice holds true today.
Here’s SKy88888888’s explanation of what she’s doing now and her thought process:
I made a DCA [dollar cost averaging] in the following coins from January 2023 until now: BTC ETH MATIC LINK SAND GRT ATOM ADA DOT AAVE OCEAN ZEC. However, I am currently thinking about changing my portfolio from January 2024 until the next bull run by:
Adding some of the following ones: SOL INJ XRP ARB AVAX TIA SNX LDO RLB ICP RNDR IMX AKT CFG GMX and
2) Considering removing ZEC GRT SAND AAVE OCEAN
My target is doing 10x. What do you think? Any recommendations?
Most Redditors didn’t have specific token recommendations, but they had plenty of advice. (If you’re interested in specific recommendations for small coins I had never heard of, skip to the section titled 5. Stick to shiny new cryptos, plus some recommendations.) Here are some fellow Redditors’ words of wisdom for SKy888888888:
1. First things first: Take profits off the table
Although Ambitious_Art_2455 didn’t have much to say, every investor should take his few words to heart:
Remember to take profits; don’t get greedy, or you’ll be holding all the way down.
Amen, Art. Been there, done that, got the tattered t-shirt.
Don’t worry about missing the top. Focus on skimming the cream before the milk spills. You can leave part of your original position to go up again if that’s in the cards. But you’ll have taken a real profit instead of a paper one.
2. Consider Bitcoin dominance, interest rate risk, and dusty coins
AWebSavvyCat (AWSC) had a lot to say, and I agree with most of it. I’ll use AWSC’s words and add my own two cents afterward:
No offense, but the fact that you were ACCUMULATING altcoins since Jan 2023 whilst the Altcoin market was (fairly predictably) bleeding horribly, the presence of some pretty dusty coins in your portfolio, and your replies to another user showing that you do not take market cap or M2 liquidity/Fed interest rates into account for your decision making, to me points towards you maybe placing too much value on the word of crypto YouTubers and crap crypto articles, and imo you are at risk of not making that much return on your investments (especially compared to if you just held BTC), if not getting rekt at least partially with some of those coins. Just be careful and make sure you understand why these things are important, as well as BTC dominance.
That first paragraph, especially the first sentence, is quite a mouthful. Let’s break it down.
First, altcoins (any cryptocurrencies but Bitcoin) haven’t increased as much as expected because Bitcoin dominates the market. The prices of many altcoins plunged in 2021 and haven’t yet recovered. Most analysts think that Bitcoin will have to cool off a bit to allow altcoins to rise.
Many Redditors agree that people want shiny new coins. Although this makes sense up to a point, there’s a difference between classic and outdated. You can’t get much “dustier” than the original cryptocurrency, Bitcoin, and its price keeps going up.
I must admit that interest rate risk was off my radar. However, after some research, I learned that rising interest rates tend to dampen enthusiasm for riskier investments. In the early 80s, mortgage interest rates were 18%. I imagine the people who had money back then lent most of it out at those rates and didn’t pay much attention to other investments.
Anyway, crypto prices struggled in 2023 as interest rates moved higher, but things are getting better in 2024. Fed chairman Jerome Powell held interest rates steady at the last Fed meeting and signaled there was a good chance for rate cuts this year.
Also, crypto prices aren’t all about interest rates. The January introduction of Bitcoin ETFs (exchange-traded funds) fueled Bitcoin’s rise to its all-time high in March. The BTC halving, which cuts down the supply of BTC, is coming up in April. And potential for lower interest rates and eventual regulatory approval for Ethereum ETFs have boosted Ethereum prices.
All in all, it looks like now’s a good time for cryptocurrency.
3. Metaverse and gambling tokens dinged; the importance of narrative
Back to AWebSavvyCat’s analysis. Continuing the rant against dusty coins, AWSC opines:
People who sold their bags during 2023 will not be returning to those coins with no/far fewer people to replace them. It’s rare that altcoins come back stronger after a bear market. That’s just the way it is. . . Even though I have recently started accumulating altcoins again myself, it still might not be the time to do it . . . a big altcoin rally is hardly guaranteed.
Of the altcoins SKy88888888 held, AWSC said,
I would drop SAND and OCEAN as quickly as I could. . . This metaverse digital land prospecting nonsense is not going to happen.
While I’m at it, I don’t think crypto gaming is going to happen either. There is no traction, there is not a single decent crypto game out there, and the general public is not interested (this doesn’t necessarily mean there aren’t buckets of cash to be made on a narrative, though).
Like AWSC, I’m not keen on metaverse tokens. I don’t understand them. Since there are literally millions of tokens and I’ll only hold 20, there’s no need to latch on to something I don’t understand. As for gaming tokens, I would consider ones that are used for games for fun but not for gambling. The havoc gambling addictions wreak is no laughing matter.
One crucial point AWSC makes is that the narrative is important. If you can get people to buy into your narrative, you can make rake in piles of cash. Look at the popularity of meme coins — those dog, cat, or even (in the case of PEEN) penis art coins with no underlying utility. People buy those based on hope and hype.
You can make a ridiculous amount of money on memecoins, but they can tank quickly, too. Knowing when to hold ’em and when to fold ’em is part of the game.
4. Choose small-cap cryptos
AWebSavvyCat mentioned the importance of market capitalization. Here’s how Redditor SidereusEques expanded on this subject:
The expected ROI is inversely proportional (obviously, that’s simplification, there are other factors at play) to the token’s market cap. If you want x10 ROI, you can’t buy tokens that have a market cap of many billions of USD. Simple as that.
Several other Redditors said that if a coin already had a multi-billion-dollar market cap it was unlikely to increase its price by 10x.
It makes sense to stick to smaller-cap cryptos if you’re looking to at least 10x your money. There’s much more room for them to run.
5. Stick to shiny new cryptos, plus some recommendations
Redditor Sad_Shower7734 offers these suggestions:
Stick to newer cryptos that haven’t yet seen a bull run.
Smaller cap coins to check out that have 50–1000x potential: Mintlayer, Hello, GFAL, OTK, MYRO, ORDS, Virtual Versions, AITECH, PZP, LITT, AWT
I haven’t checked out the small-cap cryptos that Sad_Shower recommends, but I’ll do some research on them. That leads nicely to my next point:
6. Do your own research
One term several Redditors used was DYOR — Do Your Own Research. Don’t overthink things, but do think them through in the first place.
The next point suggests what you need to learn and how to do research:
7. Learn about decentralized finance (DeFi)
Centralized exchanges like Coinbase don’t list coins until they’re more established. As TopCompetition9191 says:
If you want to make it rich in crypto, if it is listed for trading on top exchanges, you are already TOO LATE. Sure, you might get a 2 or 3x, but if you want the 20,30,40,50x and beyond, get yourself a Metamask wallet and start looking into DeFi (decentralized finance) platforms.
DO NOT use CoinMarketCap or Coingecko to find the “top trending” tokens. If you see one trending, you are already late. Use Dexscreener. You can find all chains and tokens on there and filter better projects that are potential moonshots.
LEARN DEFI, not centralized exchanges. I only use centralized exchanges for offloading back to fiat and into my bank account.
I agree that centralized exchanges are great for established coins but not for up-and-comers that could explode. But I’ll have to do some research to figure out how to extract information from Dexscreener. Here’s a screenshot of its home page:
Author’s screenshot: The Dexscreener homepage
Has anyone used Dexscreener to build a list of small-cap cryptos? What’s your take on it? Let me know in the comments!
8. NFT and privacy coins questioned
On to KiwipOrn, who thinks that SKy88888888’s portfolio is more likely to quadruple in value than go 10x. The Redditor explains:
To get 10X in the next ~20 months, you need to find the next Link or something (or get lucky with a meme coin) and go “all in.” There is nothing on your list that screams to me a 20X to drag up your average of the 5X coins.
There is nothing wrong with your planned coins, and do drop ZEC (and any other “privacy coin” [since] they will likely get delisted eventually). And the NFT stuff has gone dormant, so dumping SAND and OCEAN is probably a good idea.
I didn’t know ZEC was a privacy coin and SAND and OCEAN were linked to NFTs. That’s where doing your research comes in.
Is there a need for privacy coins? Will NFTs revive? You’ll need to answer those questions for yourself to decide if you want to invest in those types of coins.
For now, I’m comfortable avoiding privacy and NFT-based coins.
9. My own two cents: don’t bet the farm
None of the Redditors mentioned not betting the farm on individual cryptocurrencies, but that advice is worth stating. I plan to put $100–200 each into my small-cap cryptos basket. All I’ll need to turn a profit is for one of the 10 coins to shoot into the stratosphere.
I’ve taken a small flyer on a memecoin and made money. I’ll look into some other memecoins and invest in at least one for fun. But I’ll make sure to watch those coins especially carefully and cut them quickly if they bleed too much.
Takeaways
This subreddit gave me a lot to chew on. I don’t agree with everything, but here’s what resonates with me about Redditors’ suggestions for a 10x crypto portfolio:
- Don’t get greedy. Take your profits off the table, or all you’ll have left is bragging rights about the all-time high your coins climbed to. For me, being greedy also applies to your initial stake. Unless you’ve got money coming out of your ears, invest $100–200 per crypto.
- People want shiny new coins. If an altcoin got beat up in the brutal bear market we just went through, it’s unlikely to recover.
- #2 may not always hold true — witness Ethereum. Do Your Own Research (DYOR). Repeat: DYOR.
- If you want access to riskier but potentially more rewarding cryptos, venture off the beaten path of the centralized exchanges and into decentralized finance. That means you’ll have to self-custody your coins in a wallet like Metamask. (“Like” Metamask means DYOR on wallets.)
- Coins that are likely to 10x in less than 2 years won’t have multi-billion-dollar market caps.
- The coins in SKy88888888’s portfolio are mostly large-cap, blue-chip cryptos. Redditors guessed they would 4–5x at best. To have a net 10x portfolio, you need some 20x performers to balance out the 5x performers.
- Narrative is important. Look at the success of memecoins, which have no underlying usefulness.
- Crypto is a roller-coaster investment — be prepared for wild price swings — but coins with multi-billion-dollar market caps are more likely to retain and increase their value over time. I’ll end with a quote by Redditor DailyUpsandDowns that underscores that point (although I know you financial types will cringe at the use of “guarantees,” those are the Redditor’s words, not mine):
If there are any guarantees in this world, it would be Bitcoin and Ethereum doing a 2X. That is the safest [crypocurrency] investment you can make with the smallest risk.
What are your takeaways? Any small-cap cryptos you like? Let me know in the comments!
ICYMI: Here’s a newbie-friendly article with crypto background, buzzwords, and 4 blue-chip crypto recommendations (these crypto coins have been around a while have large market caps):
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