Cryptocurrencies That Are Profitable Investment

Last year I invested in dogecoin. When I invested in doge, I was basically influenced by the hype. I was watching dogecoin since the beginning of 2021 when it became 1 cent. When I saw the meme coin reach 68 cents, I decided to invest. I continued to watch the price and when it started dropping, I began buying the coin. I bought 50 coins when it became 37 cents. I bought 50 more when the price dropped to 31 cents. I continued buying until it reached 19 cents. I spent just about $200 to buy 400 dogecoins. Now, I was waiting for the price to improve. I started believing that the coin will become $1 and I will earn good profits. When the price did not improve, I began studying the coin and I finally understood the coin may never reach $1 because the coin was in unlimited supply and every minute 10 thousand more dogecoins were being added to the doge network. Therefore, I started selling whenever I saw a slight price improvement. Thankfully, I did not make big losses with my dogecoin investment because I sold all of my coins when the price was 25 cents. Therefore, never go with the hype.

As far as dogecoin is considered, you will have to forget about this coin as a profitable investment. This coin appreciates only when Musk says something nice about the coin, it does not appreciate according to the market demand. 

There is a lot of room for benefitting from crypto investment.

Investing in BTC, ETH, or BNB

I think you can still invest in BTC, ETH, or BNB. After going as high as $70K BTC is now $47K. After going as high as $4500, ETH is about $3300. BNB was almost $1000, now it is less than $450. Since the crypto market has gone too low, you still have the chance of investing in any coin you want.

Is Polygon Matic Profitable Investment?

These days I am pinning my hope for Polygon Matic. I have been investing in Matic for the last one year and I have not incurred any losses with my investment in Matic. Generally speaking, I am a long-term investor, however, with Matic, I am not using a long-term investment strategy. Instead, I buy a few Mattics, wait for a few weeks for the price to appreciate and I will sell once I believe I had made enough from the investment. I don't wait for the price to go very high, I sell even when I see a slight improvement. For example, the last time I bought Mattic, the price was $1.35. I invested $100. As soon as the price touched $1.45, I sold all of my Matic. I made good profits from my trade. Currently, I have 100 Matic which I bought for $1.40, I will trade as soon as the price becomes $1.50. 

BNB is Profitable INvestment

Apart from Matic, I am also investing in BNB coins, however, with BNB I am not doing short-term investments, instead, I am holding for a longer period. I hope to hold for at least 1 year.

ADA Has the Potential to Go Very High

I also have 500 ADA and I have staked my ADS to earn profits from my ADA. If you missed investing in ETH, you can start investing in ADA. I saw this coin go as high as $2.80, but now it is around $1.20 cents. You can still build a fortune by investing in ADA.

Conclusion: Which Crypto is a Profitable Investment

If you ask me, I suggest you invest in ADA and Matic. You can buy Matic for $1.67 and ADA for $1.20. Once you bought these coins, you should start staking so that you can make your coins earn profits even when the price s not appreciating. On Binance you can earn up to 21 percent APY on Matic.

First published on Trendri, in the author's name.