Looking to invest in crypto this year? With experts declaring a ‘Crypto Winter’, prices are tumbling and traders are getting nervous – but for many, it presents an exciting opportunity to get involved and make the most of low investments before prices inevitably surge again later on. The long-term predictions for Bitcoin and the like remain strong, and those who manage to hold their nerve are likely to profit considerably later down the line.
Over the past year, we’ve seen a dramatic increase in the number of new sign-ups to trading platforms like Bitcoin Equaliser, with millennials and Gen Y-ers eager to learn the ropes and create an additional stream of income – and for those who are just beginning their crypto journeys, it’s the perfect time to take advantage of discount prices to get the ball rolling.
Bitcoin isn’t the only cryptocurrency you should have your eye on; despite remaining the biggest digital currency in the world, we’ve seen some interesting developments of late from alt coins like Ethereum, and with a plethora of newcomers to the market, each offering a unique set of plus-points, there has never been as much choice as there is now.
If you’re eager to start putting your money where your mouth is, then there are several interesting prospects for the year ahead that you might want to consider. Still in their infancy, some of these alt-coins could be set for huge growth over the coming years, and should they follow the trajectory of Bitcoin, could offer some considerable returns on investment.
Of course, if there’s one thing we know about cryptocurrencies, it’s that the market is volatile – and profit is never guaranteed. However, if you can tolerate a little risk, then these assets could certainly be worth a punt.
Fantom (FTM)
Following its December high, FTM is currently down by 36.3 per cent and is currently trading at just $2.15. This layer-one blockchain protocol was much talked about in 2021, and early adopters could stand to profit later on in the year, with those prepared to play the long game likely to fare even better.
Despite falling crypto prices, the rise in total value locked (TVL) of the Fantom network has seen it climb to a record high of $12.07 billion, and considering its low transaction fees and Ethereum Virtual Machine (EVM) compatibility, it’s perhaps little wonder that it’s going strong.
Polygon (MATIC)
You may have already heard of Polygon thanks to its close relationship with Ethereum. The two-layer scaling solution has plummeted by more than 50 per cent over recent weeks, leaving behind its all-time high of $2.92, where it peaked on 27th December last year – but its increasing popularity over the course of 2021 is expected to, on the whole, continue well into 2022 and beyond.
Its compatibility with Ethereum, coupled with attractively low transaction costs, have made it an appealing prospect for those eager to remain on the Ethereum network whilst enjoying a lower spend. Because it can host a variety of different decentralised applications – take, for example, lending protocol AAVE and NFT token project Aavegotchi – the network is becoming increasingly exciting to investors, so if you’re looking for something a little different to get involved with, then this could be a great choice.
Curve (CRV)
The Curve DAO token has been widely touted as one of the most attractive stablecoins on the crypto market over recent months, but despite hitting an all-time high of $6.80 in the opening days of the month, it is now trading at just $2.76. That’s a dramatic plunge in such a short period of time, but rather than strike fear into the hearts of investors, it’s got many excited instead.
It’s looking increasingly likely that, once the current market weakness subsides, we can expect to see the CRV token surge once more as decentralised finance projects look to obtain governance powers over the Curve ecosystem, and while it’s true that only time will tell what lies in store, it certainly looks like the future could be promising.
Polkadot (DOT)
A sharded multi-chain protocol which aims to facilitate cross-chain transfer of data or asset types from one blockchain network to another, Polkadot’s price has been on the wane since early November, with its inability to support Ethereum holding it back in terms of potential growth in the final weeks of 2021.
But on 11th January, Polkadot made headlines when its Moonbeam (GLMR) parachain launched the first cross-chain bridge for the network, with over 1,329,000 transactions processed since. With plans for more parachains to be launched over coming months, now could be an excellent time to take advantage of low token prices, because it seems that an increase in demand is inevitable.
Disclaimer: Investing money carries risk, do so at your own risk and we advise people to never invest more money than they can afford to lose and to seek professional advice before doing so.
