In a previous article, we discussed the opportunity of investing in obscure cryptocurrencies. Obscure coins like BITS have very low prices and market caps. This means it is easy to buy many of these tokens, influence the price, and benefit from small price movements.
These are the Best Exchanges for Finding Obscure Coins
However, as the name implies, these obscure coins can be hard to find. They are not typically found on popular exchanges. Even the most obscure coins on popular exchanges like Binance have relatively high market caps. For coins that have truly low market caps, you’ll need to find the specific exchange they are hosted on.
In the last article, we discussed how you can use CoinGecko to find coins with low market caps.
As we mentioned in our first article on obscure coins, STEX contains BITS and a wide variety of low market cap crypto coins to trade. These coins have very low liquidity, so it can be difficult to fulfill buy and sell orders, but you can review the total order open before making your own trade.
STEX in particular has a wide variety of coins that are both actively traded and rarely traded. The best range for obscure coins is those with sudden and reliable price fluctuations, cheap prices, and enough volume to fulfill your orders.
Using STEX requires verification to trade on due to new regulations in European crypto laws. After getting verified, you can trade popular cryptocurrencies like Bitcoin and Ethereum as well as many obscure coins not found on other exchanges.
Mercatox is another crypto exchange that gives the user access to coins with low market caps and prices that are receptive to price changes. Buying and selling large quantities of these tokens can easily influence the price and bring large profits to investors.
Mercatox also offers leverage, lending, unique currency pairs, and payment integration. While this is one of the larger exchanges, it has a considerable number of obscure coins to invest in. Be wary that most of these coins have such a low volume that it may be very difficult to fulfill orders.
Again, trading on exchanges like Mercatox for obscure coins is not as simple as finding a coin with a low market cap on CoinGecko. You want to carefully analyze trade volume to determine your ability to exchange.
YoBit is a market with an extremely long list of cryptocurrency pairs to trade. It features a nice interface and some incentives for registration. Most importantly, you can find obscure coins while browsing the exchange.
As with Mercatox and STEX, it’s easier to first browse for obscure coins on CoinGecko before visiting the exchange it’s traded on. However, once you find the coin on an exchange like YoBit, you can browse other obscure coins on the platform and compare them to market caps on CoinGecko.
C-Patex is likely the most obscure exchange on this list. The site features a very straightforward trading app and a long list of cryptocurrencies both popular and obscure. On browsing the many currency pairs available, you will notice that many have had no movement in the last 24 hours.
The site also features currency pairs not commonly found on other exchanges. These pairs are very prone to price changes, and it’s not uncommon to find very large jumps in price surrounding by flat movement. This is clear evidence that someone is moving the price by buying or selling large amounts of the currency pair.
As with the other exchanges on this list, it is possible to move the prices of these currency pairs with a relatively large transaction. You will need to compare the total market cap and the capital you have available to invest. If you have enough capital to make a trade that represents a large portion of the market cap, the trade will affect the price. However, there will need to be sufficient liquidity to reverse the transaction and collect your profit.