Investing in the cryptocurrency market can be difficult for first-timers. The industry is littered with currencies and projects all promising gain and growth. But not all cryptos are winners. That's why getting burned by bad investment choices is a common sight in the market. Hence, cryptocurrency is not for the faint of heart.
So what are novice investors to do? To start in crypto, it is essential to first aim for balanced and sustainable growth rather than quick, short-term gains. Today, first-time investors can mix up their portfolio with Uniglo (GLO), Bitcoin (BTC), and Cardano (ADA).
Top buy signals are pointing to Uniglo, a new decentralized finance (DeFi) project that started preselling last July 15. Uniglo is a new social currency that is pegged to an investment portfolio owned by the Uniglo community. It maintains a vault in which assets such as digital currencies and digitized tangible collectibles are kept. As the assets generate profits, the GLO token also appreciates, and the entire Uniglo community benefits.
The wonderful thing about a crypto gem that is still in its presale is that you can buy a lot of it at a relatively low price. An initial investment of $10,000, or even $1,000, can help you accumulate many tokens already. As the new crypto progresses in its life cycle, its value will generally be on an upward trend, producing massive gains for the token holder.
Bitcoin remains a strong option for novice investors. Over the last 14 years, the crypto king has dominated the market. While many new coins are minted and introduced to the market each year, they always fail to pull Bitcoin away from the top spot. For novice investors, cryptocurrency is Bitcoin, and Bitcoin is cryptocurrency.
Over the last three months, the crypto king experienced a massive drop. But bulls are doing their best to bring the price of BTC back up again. Newcomers to the market can buy Bitcoin now while the coin is still on an upward trajectory. Though buying one BTC will require around $24,000 today, that single coin could also produce massive gains as Bitcoin regains its strength in the coming months.
Buy signals also point to Cardano, which is a proof-of-stake blockchain. Cardano is considered a third-generation platform, following Bitcoin (first gen) and Ethereum (second gen). While the price of ADA is strongly affected by the performance of Bitcoin, Cardano developers are busily expanding the range of use cases for ADA. Currently, the platform conducts over 80,000 transactions a day and it still has room to do more activities. The more use cases it has, the more stable the token could be.
Currently, Cardano is becoming known for enabling loans that are backed by non-fungible tokens (NFTs). These loans are possible because of an NFT-DeFi bridge that was earlier introduced by Cardano developers.
Of course, selecting the inclusions to an investment portfolio depends on a person's goals and expertise. But for novice investors, top buy signals point to the three we mentioned above.
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Website: https://uniglo.io
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.