As the market keeps showing promise, more and more people are jumping into crypto. The market has added over $50 billion in the past week or so and now again, everyone is talking about crypto again. The buzz might not be as big as it was in 2017 but I believe that it will only grow with time and good things are yet to come.
I get asked by many people who witnessed the crazy gains of 2017 but somehow didn't invest back then (mostly my college friends), what is the best way to invest in cryptocurrency. Although I am no financial advisor, I do provide them with suggestions with a small disclaimer at the end that I may not be held responsible for any losses.
So, I thought that why not make a post about it and tell you guys how I would invest if I had $100. Kindly note that this what I would have done if I was investing for the first time in crypto and remember that it is for information purposes only.
This is the first thing I would have done. That means out of $100, I would invest $30 in Bitcoin. Like it or not, Bitcoin is here to stay and it is the king of all crypto coins. Bitcoin drives the whole market. It is the most decentralized crypto out there. Bitcoin has issues but it controls more than 62% of the market and will continue to dominate for a long long time.
I would invest $20 in Ethereum, the number one altcoin, and probably the only contender to take over Bitcoin in the near future. Almost half of the crypto market revolves around Ethereum and with Eth 2.0 coming, things are only going to get better for Ethereum.
I would invest $30 in the top 15 altcoins. These altcoins have proven a thing or two about themselves and there are some great coins in the top 15. If I had to choose some coins, I would go with Cardano and Chainlink. Cardano is already what Eth 2.0 is trying to become and with Shelley launched and staking coming in August, things are going to be exciting. Chainlink is connecting outside data with blockchains through oracles, something which can not do on their own. They have hundreds of big partners and they continue to expand.
I would look for some niches with great potential like gaming and social media. I will pick Enjin Coin for gaming. There are other gaming coins as well but I think Enjin is the best. For social media, I will pick them/hive. Steem once had a marketcap of $1.8 billion and there are chances that we might see these social media platforms achieve this feat in the bull market.
DeFi is the hottest niche right now in crypto. I am pretty sure that DeFi is going to be the driving force of the next bull run and would see the most gains as well. If you want, you can also skip the gaming and social media coins and invest 20% in DeFi coins. DeFi has a huge potential and it is about to explode.
This is how I would invest if I had just $100 to invest. Let me know your strategy. If you think I missed any coin or niche, drop it in the comments section.
This is not financial advice. These are personal thoughts and they are meant for information purposes only.DYOR before investing.
