My top picks in this Bear Market
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.
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