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I have a simple strategy for crypto investment. I look for market cap, price history, use case, adoption, trading volume, and market price. Generally speaking, Ethereum is a safe investment, it is not only the second crypto by market cap but also has a huge use case, adoption, etc. However, I cannot invest in Ethereum because it is too expensive. Even during the bearish market, it is around $1400. Therefore, I don't invest in Ethereum. I always look for cheaper coins. I consider ADA a good investment. It has a good use case, its adoption is increasing. Likewise, I believe MATIC is also a good investment based on my market analysis. When investing in altcoins I also check if the coin uses a proof of stake consensus mechanism. When the coin offers stake rewards you can earn passive rewards from your assets. I also believe metaverse tokens are good assets for investment.
Crypto Assets You Should Invest During this Bearish Run
The Crypto market is in a bearish run since December 2021. When Bitcoin went below $19k, people were presuming that bitcoin will rock bottom at $13k. That has not happened yet but a lot of crypto enthusiasts believe that the worst is already over.
When the market is bearish, it is also the time for investors to buy more assets and build their portfolios. For example, if you had wanted to invest in Bitcoin in 2021, you might have ended up paying $68k for 1 bitcoin but at this time of the year, you can buy one bitcoin for $20k. The amount you would have invested to buy 1 bitcoin in 2021, can buy little more than 3 bitcoins.
In this bearish market, I added a lot of cryptos to my portfolio. I bought MATIC, ADA, SAND, MANA, ALGO, AXS, and DOT. I have staked all of these crypto assets and earned passive income.
Which crypto coin did you buy during this bearish run?
If you have not already started buying crypto, you should act now.
Want to Retire in 10 Years? Buy Cardano
I have a portfolio of over a dozen crypto assets, however, of all cryptos I have I am most hopeful of Cardano. Do you know why?
Cardano is the world’s most valuable crypto because of its Proof-of-Stake blockchain. Therefore, it is the world’s cleanest crypto coin.
Bitcoin and Ethereum, the number one and the number crypto coin by market cap have a proof-of-work mechanism, which means in order to validate the transaction, they leave a lot of carbon footprint. Bitcoin’s carbon footprint is equivalent to that of Colombia, and Ethereum’s carbon footprint is equivalent to that of Singapore. However, Cardano’s carbon footprint is just the carbon emission of 100 cars.
Well, Ethereum is deviating from proof-of-work to proof-of-stake, and it can be the most valuable asset, however, in order to profit from Ethereum, you will have to invest a lot of money because it is way higher than Cardano’s ADA.
With the current price and expected growth of over 1000 percent in 5-10 years, you can become a millionaire with Cardano.
Reasons Why You Should Invest in Polygon
Polygon is a blockchain platform with MATIC as its native currency. The current price of MATIC is about $1 but its All-Time-High Price was almost $3 in December 2021. While trying to develop a platform on Ethereum Blockchain that will solve problems of network congestion, high transaction fees, and low transaction output, an Indian guy named Sandeep Nailwal and his team launched Matic Network in 2017, and was branded to Polygon in 2021.
You need to invest in MATIC because:
Billionaire Mark Cuban has not only invested in MATIC he has even integrated Polygon on his NFT platform lazy.com. He is even reported to have said Polyon will destroy everything.
Polygon has secured partnerships from Behance, Adobe’s social media company, Draftkings, Fantasy Sports Contest, Alan Howard, billionaire hedge fund manager for web 3 development.
Fashion brands like Prada and Adidas have launched NFT collections on Polygon
Stripe has integrated MATIC into its crypto payout.
Tether, the biggest stablecoin has even launched on Polygon.
Becoming a Crypto Millionaire
Ever since I started investing in cryptocurrencies, I have never sold my cryptocurrencies. I used to use crypto as a payment form and withdraw as cash. I still use crypto to receive payment but I don't spend my crypto. I am holding my assets and continuing to build my portfolio, hopefully, I can become a millionaire in a few years. :D
First published on Trendri
