When it comes to Cryptocurrencies, there’s Investing and Trading. When it comes to Blockchain technology, I see long-term potential so I’m technically HODLING for the time being. My advice is to diversify your portfolio and to keep it simple. Before you make the decision to invest, consider the following before investing:
Draw out a Financial Roadmap (that is personalized to you)
Evaluate your Comfort Zone (determine your overall risk appetite especially for niche focused crypto)
Have a balance mix (make sure you aren’t investing in just Crypto only)
Consider dollar-cost averaging your way in
Here are some of my picks that I have determined to be good buying opportunities;
Bitcoin
There isn’t much to say, BTC has always been a good buy since day 1 but hopefully it will remain this way for the following next 5–10 years. The widely used and popular Cryptocurrency has set the standard in the world of Crypto (it will take fierce competition to dethrone this digital currency), so without a doubt when Bitcoin prices drop I tend to buy more by dollar-cost averaging. (the most comfortable asset to invest in over a long period of time)
Cardano
For starters, Cardano was founded by the co-founder of Ethereum, Charles Hoskinson. Set to be a decentralized, yet scalable peer-review systemic DLT, Cardano has been designed from the ‘’ground up’’ and trying to set itself apart from Bitcoin as a top-notch competitor to ETH, as a research driven project. The price has remained relatively stable over time, however development-wise Cardano remains one of the top 3 most active projects in the space, combined with sheer transparency and a mathematically proven foundation, this an upcoming Blockchain 3.0 contender that manages to attract the crowd.
Algorand
Led by an all-star team, and renowned researcher, Silvio MiCali the brain child behind Zero-knowledge proof protocol and a Turing award winner. By far, one of the most interesting projects to make headlines in 2019/2020, especially with the recent two high-level partnerships with IDEX and Tether. What’s makes this project so interesting is that not only introduces pure proof-of-stake protocol, but Algorand is designed to address to Blockchain trilemna, the recent partnerships with worlds no.1 decentralized exchange and stablecoin indicate that parties involved are focused solely on advancing and improving the blockchain technology through research and building strategic relationships.
Monero
Starting back in 2014, Monero has been the go-to Altcoin that focused on security, privacy and untraceable currency system. Monero uses a special kind of cryptography to ensure that all of its transactions remain unlinkable and untraceable.
‘Monero is the ’, this has made it infamous in the decentralized ecosystem causing a high demand by a larger percent of privacy centered individuals. Apart from its network infrastructure, the coin itself is fungible due to its close identity and hence creates liquidity potential for the asset. For as long Monero, remains the no.1 privacy coin, I’ll be hodling or buying small amounts of XMR.
It is advisable to invest in cryptocurrency during recession. Cryptocurrency will still survive no matter what, but fiat currency will not.