Searching for the next cryptocurrency that will make investors wealthy in a matter of days, weeks, or months is the latest gold rush, particularly in Asia, where digital currencies have been trending these days is a smart move. But how can you search you find this cryptocurrency? Follow the buzz, which is measured by the premium between different cryptocurrency prices in the US and Korea – referred to as “Kimchi premium.”
That is what happened to Monero and Ripple at a point, and it recently happened to EOS, which experienced a significant increase recently. Presently, EOS is trading for a premium in S. Korea – says Darren Marble, “a phenomenon that happened late last year and early this year in which digital currencies were trading at higher rates in South Korea than the general average.”
The Risk Involved in Cryptocurrencies
Lottery games and digital currencies have a few things in common. One of those things they have in common is that those that get involved need a great deal of luck to make it. Another thing they have in common is that both of them are bounded by a great deal of buzz, engineered by the prospect of huge winnings. But there a very significant dissimilarity between the two of them.
The chances of winning a certain lottery game are not altered by the buzz surrounding it. But this is not the case when it comes to the game of cryptocurrency, where the chances of a certain digital currency soaring in price are affected by the buzz surrounding it.
How to Overcome the Risk Involved
Finding and studying the buzz for different digital currencies can result in a winning digital currency investment strategy. Digital currency buzz often starts in Korea, where investors see digital currencies as alternatives to escape the currency controlled by the government, and they are eager to pay a market premium for them.