As bitcoin is currently underway in its bullish period (the time of year when it rises a lot in value, followed by a bearish period where it crashes), it looks like it’s swinging down again and bringing most alt-coins with it. But not mine it seems!
As every investor will tell you, diversion is key. But there’s another key, and I’ll share it with you for free. Be lucky! Sorry. I don’t mean to be rude, but that’s exactly what I was when I chose the coins I currently have. Mostly. For the bit that isn’t just luck I did this:
- Check the website, twitter account, medium page and if you can be bothered also their telegram and chats.
Does it look like an active, well-intentioned community? If it’s lots of thousands of people in their channels but it’s eeringly quiet – do not invest, they are all inactive. If there’s constant shouting of selling, getting rich etc, also run since it’s just another scamcoin. - Read the fundamentals and decide on whether the coin has a use-case. Ie: is it useful for something? Does it have anything unique about it?
- Check the price history and market cap on, for example, coingecko or coinmarketcap. See if it seems like it has a consistent investor base over some period of time, unless it’s brand new.
- Use your gut and listen to it. If it tries too hard to sell itself, it’s for a reason.
So, which coins is it that I’ve decided to keep my very little investment savings in, that seems to be impervious to bitcoins current temporary downward spiral?
My list of great alt-coins that goes against the bitcoin trends:
CRO, since crypto.org is currently just under way of releasing their entirely brand new layer 2 blockchain called Cronos. The really, really sweet thing about Cronos is that it’s a chain running on the nice and popular (and cheap) crypto.org-chain – but with full ethereum smart-contract compatibility! If you don’t have any idea what that means, don’t worry about it. If you do, then you understand what a big bloody deal that is!
I am currently using a couple of the new marketmakers setup there with some small investments, currently running at more than 800%. (They’re CronaSwap and VVS Finance but I can’t recommend any of them, since it’s all really new and untested. Newbies stay away, those who don’t enjoy losing all their money stay away.)
If you want in on the action but don’t have CRO, and for some reason don’t have an account at the excellent exchange crypto.com, feel free to use my referral link to get yourself up to 50$ in actual usable funds: https://crypto.com/exch/zr7pvmqbww
Elrond has some pretty great fundamentals! And the community is actually quite amazing. And just recently they launched the *huge* deal which is called Maiar. Don’t believe me? Try installing the app. Then tell me how you ever doubted me. Oh, and I think you will get a 10$ cashback using my invite referral: https://get.maiar.com/referral/3bu45gch9u
Cosmos, or Atom, is the last one. I’ve been staking this coin and the related OSMOS since mid-summer. It’s just a fantastic project (a interconnected blockchain, or IBC, which allows other blockchains to interact with each other. Which is, honestly, fantastic as an idea), with really dedicated community. Also, the absolute best staking platform I’ve ever seen: Osmosis. It’s just brilliant.
Hope you find them rewarding! But don’t come complaining if I’m for some reason wrong. I am probably, since I’m just a guy on the internet. 😉