2.3.0. Economic Portfolio
The Economic Portfolio should contain cryptos you use to generate wealth in cryptocurrencies. The common characteristic of economic cryptos is that each of them has a low market capitalisation. As such, a viable economic crypto has the potential of growing in a matter of time to becoming a bluechip crypto.
The economic cryptos consist of mostly new entrants into the Crypto Market.
If you can get in early on a good crypto project, such as during the presale period, you can literally accumulate a lot of coins with a very little amount of money. In fact, many crypto projects often launch their presale with free airdrops that give free tokens to incentivise the market and attract investors to the new crypto project.
For example, at its initial coin offer (ICO) in March 2020, one Solana token was 0.22 dollar. About 14 months later, the same Solana was about 60 dollars. That is about 27000% increase in less than 14 months.
As at the writing of this manuscript (August 2021), the price of one Solana token was about 180 dollars. Imagine if you had acquired a large amount of Solana tokens at its ICO when it was ridiculously cheap!
Indeed, if you do not have enough capital to enter into the Crypto Market and buy the bluechip cryptos, then this economic group of cryptos is for you. With these economic cryptos, your few bucks can be transformed into millions of dollars.
2.3.1. The Challenges with Economic Portfolio
There are two challenges you will have with acquiring cryptos for your economic portfolio:
(1). Ability to spot such new crypto projects
Spotting such new crypto projects for your Economic Portfolio will require you to:
(a). become acquainted with the Crypto Market and follow the development of the market
(b). have good knowledge of the analytical technique, which you will use to ascertain the viability and future prospects of new crypto projects.
The (a) is one of the reasons for the SOC while the analytical technique has been discussed in the Lectures of the Course 2.
(2). The Patience to wait for the price to go up.
For a good viable crypto project, the longer you wait, the higher your chance of getting a higher price. Therefore, the challenge here is for you to have the required financial discipline to accumulate a large amount of the crypto while it is still very cheap and then stick with it throughout the undulated movements of the market until the price of the crypto reaches your target expectation.
2.3.2. Examples of Economic Cryptos
The following cryptos are still at their economic status. Meaning, with a few dollars you can acquire a lot of them:
Eda Coin
Ecomi (OMI)
Decentraland (MANA)
Chiliz (CHZ)
Audius
Pi coin