The crypto market is booming, nothing seems to stop it now. Unlike any other investment options, the gains from Cryptos have been the largest. Though they are one of the riskiest investment options one could investment in, but the return it offers are also significant.
The Crypto market is very volatile, there are large upside and downside movements frequently. But right now is the best time to invest in cryptos because of the recent dip in crypto prices, you can buy your favorite cryptos at a bargain price. In case you don’t know the cryptos to invest in here are a few recommendations you can look forward to.
Price as of 10 August: $0.256 or ₹19
Started as a meme or joke in 2013 but is pretty real now. And is one of the biggest crypto, because of influencers like Elon musk. Surreal isn’t it?
Doge has purely risen solely on the Hype it generated. But now it is considered a viable investment by many analysts. This cryptocurrency is very cheap, for now, and predicted to go to $1.5, at the start of next year (2022)
Coin price as of 10 August: $25.2 or ₹1870
Developed by Sergey Nazarov, Chain link is an Open-Source Ethereum token. With the motto “Connect your smart contract to the outside world”. Its decentralized oracle network offers tamper-proof inputs and outputs for smart contracts. It enables secure interaction with real-world data and services that exist outside of blockchain networks.
Chainlink’s Blogs explains pretty much everything here is the link: Chain link blog
Predicted to go to $50-100 at the end of this year.
3. Cardano (ADA)
Coin price as of 10 August: $1.58 or ₹117
Founded in 2015 by Ethereum co-founder Charles Hoskinson. Cardano is a proof-of-stake blockchain platform. It can facilitate peer-to-peer transactions with its internal cryptocurrency, ADA. Its main USPs are Scalability, interoperability, and sustainability. This coin also has low transaction fees and as well is environmentally friendly.
This crypto coin is still a pretty cheap cryptocurrency. The price prediction is that it will hit $3 by the end of this year.
Coin price as of 10 August: $0.108 or ₹8
This crypto coin is the second cheapest currency on this list, if you are looking for a very cheap cryptocurrency, Vechain might do the trick. VeChainThor public blockchain is designed to enhance supply chain management and business processes. Vechain goal is to build a trust-free and distributed business ecosystem platform to enable transparent information flow, efficient collaboration, and high-speed value transfers.
For the price, it is assumed that it will reach $1 by 2022.
Coin price as of 10 August: $21 or ₹1560
Polkadot is a blockchain protocol that enables cross-blockchain transfers of any type of data or asset (or brings interoperability among other blockchains). Polkadots development team wants to deliver the most robust platform for security, scalability, and innovation. Gavin Wood, one of the members of core founders of the Ethereum project had created Polkadot.
Price prediction for Polkadot is varying a lot, from some analysts saying it increases by 20 times, and others predict for $50 by the start of next year.
Coin price as of 10 August: $0.074 or ₹5.5
If you are looking for safe and cheap crypto investment, Tron might be what you are looking for. According to most crypto experts, TRON could be a good investment. Although its price is still tiny, it’s widely expected that we’ll see the price increase over the coming years, especially as the demand for D-Apps continues to grow.
Though the returns on investment in Cryptos are significant, but investors should be cautious while investing in Cryptos. It can generate wealth and it can also take away all your wealth in a matter of seconds. One should be patient and should be ready to accept the risk that comes along with the investment. But remember that money sitting in your saving account won’t get you to create wealth.
Banner Image by Rūdolfs Klintsons