Today someone asked me if it was the right time to invest in Crypto. The person is just getting started with crypto and has no idea about the market. But well it is good that they picked the right time to ask this question. I answered them by saying that it is a good time to invest if they are planning long-term. The next obvious question would be about BTC.
Many people still think that BTC is the only cryptocurrency to get started with investment. I understand it is the first-ever cryptocurrency and that's definitely the talk of the town even today but what people don't understand is the fact that there are so many competent cryptocurrencies and projects available where they can invest. People even spend a lot of time trying to understand BTC and only about BTC.
I even heard from some of my coding friends that they did read about the opportunity to code on BTC and they gave up because it was not very exciting. Choosing BTC as the starting point to code something on Blockchain is definitely not a good start. That's what I told them. There are so many other ways in which a coder can contribute. But definitely, BTC is not the best way. Especially because of the huge transaction fees involved.
When I was talking to my friend I mentioned the following cryptocurrencies to start investing in. I said that it is more like my top pick for the current market trend. I also gave him some reasons as to why they should consider investing in these cryptocurrencies.
Hive
As always Hive is my first choice. I wanted to pull them to Hive because it becomes easier for them to understand crypto and they can also get themselves onboarded on some of the Play2Earn games to make their journey easier. In addition to that Hive also provides an opportunity to grow the investment in the form of content writing and curation rewards. So I would say Hive can be the best choice for someone who is getting started with crypto.
Cardano
To be very honest, I have no big idea about this cryptocurrency. But from what I remember, there are some cool projects built on Cardano, and last year one of my friends invested when the price was around 90 cents and doubled their investment. Now the price is again very low and almost equivalent to the price of Hive which is somewhere around 50 cents. I guess Cardano has the potential to heal back faster so when the market recovers, there is a high chance that Cardano can double our investment value.
SPS
Though this is not a coin but a token, I do believe a lot in SPS. The splinterlands team has always provided to be the best income provider for many people and they know how to retain the value of their assets. In the past, the investments have never been disappointing. I was also able to make a huge portfolio in the game even though I don't play that regularly. It is indeed a great opportunity right now to purchase SPS for around 8 cents. After the airdrop is over, there is a high chance that SPS can pump. When it gets listed on many exchanges another big pump can be expected. During the initial days, the price was close to 1$ per SPS and I even bought like 2000 SPS by spending around 2000$. Today I'm just imagining that I should have waited and bought more SPS now. I believe it will have a huge pump in the near future.
I can keep going with my other picks as well but I would like to stop with this right now and probably cover the remaining in my consecutive posts as long as the bear market lasts.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
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Posted Using LeoFinance Beta
I am bullish on Hive. SPS is good as many usecase. ADA is progressing a bit slow,bit does have lots of potential !
Posted using LeoFinance Mobile
Yeah the speed of growth is probably not sufficient.
Algorand (ALGO) has a very interesting project and is currently working with FIFA.
Nice I'll try to check it out.
My top picks will (probably) always be privacy coins now. i'm focusing on withdrawing consent from #thepowersthatshouldntbe's #massmurdermachine
Not selling my Hive though, but not buying more. i've got enough and i'm earning more every day (and LEO as i delegate a lot of Hive & LEO to @leo.voter)
Today my top tips would be ZANO, CCX & OXEN
Sat Nam
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Thanks for your comments. Cheers! I'm not very bullish about Leo but I'm still staying invested.
I am very bullish on HIVE and SPS but ADA... a couple of months ago when I was really defi high, I started experiencing Cardano network. Unfortunately didn't find many dapps that would interest me. I was disappointed with APRs and fees were also surprisingly high.
Posted Using LeoFinance Beta
Yeah I also realized I shouldn't have picked ADA but let's hope they come up with something. Or it will just end up like a dead project.
Yeah, even though they are lacking good dapps now, it doesn't have to be forever.
From what I know, I know a lot of people who think the development of Cardono is too slow and didn't live up to expectations. Other than that, I agree with Hive and SPS because I am involved with them.
Posted Using LeoFinance Beta
Yeah I'm able to see that many people have expressed the same thoughts.
Nice share of your picks. Hive specifically is one of mine too. Personally, I'm not feeling good about Cardano. It seems there are no significant developments on it. I wish you the best on your investments!
Posted Using LeoFinance Beta
Yeah looks like I should have not selected Cardano. Yeah agree that development is very slow there.
Well it's okay :) We all have different thoughts about the tokens we want to have especially if you believe in it :)
Posted Using LeoFinance Beta
Well said
Hive is underrated Cryptocurrency that have future and good to invest after BTC. Nevertheless I'm still contemplating on your second choice "CARDANO" I think I've once check it chart some time back it good currency too but I don't think it heal quickly
Posted Using LeoFinance Beta
Yes I'm starting to have second thoughts on Cardano unless some miracle happens. Otherwise going to stay away from it probably.
Cardano blockchain finally got smart contracts and the entire ecosystem started growing with many promising projects. Still, the past disappointment is hard to overcome, and even if I am involved in it for some reason I don't expect much out of this blockchain. If I am wrong, all for the best!
Posted Using LeoFinance Beta
Yeah well said. Fortunately I did not invest much on cardano and from what I see many people have expressed that it's not a good choice. Let's see.
what cool projects do they have on cardano?
I heard they added new smart contract but not sure about the details though. I'm not actually sure. From what I hear, it appears to be a bad pick. Probably. Let's see.
CARDANO is not deploying anything, its development is poor. I don't expect anything good for it despite it can be pumped obviously.
Yeah might be a bad choice for me. Others have also expressed same thoughts. But yeah let's see.
Hive, Only Hive 🤛
Yey😇
Great tips. Cardano could double again for sure but it is definitely a long term hold.
Found you on Listnerds.
Yeah Cardano is for long term. Let's see.
I agree with Hive for 100%, I really think Hive has great potential. SPS feels the same, so I keep staking my SPS to get as much as possible for me. But Cardano hasn't lived up to the expectations. I expected more from them. So far, they haven't fulfilled the big promises yet. Let's see what the future holds for Cardano.
Hive is no doubt going to be big thing soon.
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Nice to see you add ADA although I personally am holding off on buying any ALTS for a bit longer, but is definitely oversold.
Yes, I am one with you both with HIVE and SPS.
Nice, informative post @bala41288. Thanks for sharing.
I am pretty much sticking with Hive and its second layer tokens. My plan is to be here for the long term. I don't have the time or energy to buy and flip for just a little bit here and there. And I am not going to sell what I have built and cut and run. As far as Bitcoin, the only thing I have in that is what I earned from the free faucets. I don't pay much attention to it other than that.
Thanks for sharing your picks.
!CTP
Personally, I am sticking with Hive. It is not the time for me to try new tokens. I do appreciate the information in your post and thank you.