Investing in Digital Assets in Q3 (2020)? Consider these 5 Top Crypto Projects08.07.2020, 10:42
COVID-19 continues to drop bombshells into all markets until a vaccine arrives and cases decline more substantially. It’s not possible to say with any certainty how some markets will fare in the year(s) ahead. So what about Bitcoin and cryptocurrency?
GrabFreeMoney takes a birds-eye view at Q3 begins here in 2020 and then zeros in on some top projects in this rapidly changing, decentralised network-filled landscape.
Bitcoin is a unique network that was born in the midst of such turmoil to bring greater trust and durability, being by nature decentralised and unstoppable. Who would want to miss out on the excitement of holding some Bitcoin throughout times of turmoil? Similar to the stock market, prices have shown remarkable robustness and positivity. Only those who’ve been following crypto since the 2018 major drop in prices will appreciate how much they’ve been building up for major catalysts from progress in both development and adoption. A recent example has been the rumours about an integration of Bitcoin with Paypal.
However, volatility and speculation continues to pervade the space, and it’s an off-putting aspect in times of uncertainty, where a demand for cash also rises. Cryptocurrency has not yet been able to prove its real value as a hedge against the dollar, against hyperinflation or stock market movements. But many expect it will in time. On the other hand, stablecoins have seen considerable growth with projects like DAI (a decentralised crypto-backed coin, pegged to the price of the dollar) and its role in ‘de-fi’. Residing also beyond the weaknesses of the banking system stablecoins may see continued growth and utility where Bitcoin and Ethereum are integral to their existence.
Despite the positive sentiment, the spectre of COVID-19 affecting unforeseeable areas of the economy may well bring some crypto projects down. The pressure to find real application and capture a substantial user-base is underscored by the crisis, particularly in the reams of ‘de-fi’ (decentralised finance) and tokenisation of assets. Meanwhile, as ever, news of governmental reactions and attitudes towards cryptocurrency can also trigger rapid swings towards a bear market. There is certainly risk, but embracing Bitcoin’s volatility is part of the deal.
And, it’s worth stating again: who would want to miss out on the continuing excitement around, and potential power of, these new, unstoppable, blockchain-based networks, dapp platforms and payment systems? Trust in big tech companies - and even companies themselves - are wearing thin, as entities that retain access to our online data and then suffer embarrassing breaches or hacks. Web3 continues to shake at these foundations, and grow across the internet with more direct, independent solutions (including rewards paid out in crypto) - away from centralised companies and servers.
What are we talking about here? These are the projects ranging from attempts to reward individual content creators and file storage providers to simply ‘staking’, a form of network support that brings automatic rewards. And in relation to file storage (and Filecoin’s now-maturing solution since their $257 million finding) these new, decentralised solutions, when increases in speed and transaction times begin to emerge, could trigger a wave of fresh platforms leveraging crypto and blockchain permanence, verification and trust.
WIth such integrations and development progressing, even (or especially) in these uncertain times, you might be considered crazy not to put some chips on this board. For crypto is moving towards a point where it will be difficult to ignore - or stop. Millennials are holding their crypto like never before earning higher rates of interest than any savings account. We’re talking widely supported projects, technologies and networks you might at least state are much better investments than gambling. So, looking beyond the battle-tested, ‘big daddy’ Bitcoin, why not check out these following hot projects:
5 Crypto Projects to Consider
‘The Crypto Tree’ : Credit: Ade’s Press
Below is a brief synopsis of 5 cryptos we think here at GrabFreeMoney.com have strong potential, communities and futures, for different reasons and at different stages of adoption.
Ethereum - Still one of the most robust and decentralised blockchain networks, progress continues with much-needed network upgrades for Ethereum 2.0. As gas transaction fees rise, these become only more urgent. Holders have been buying at least 32 Ethereum, the required amount for staking after the transition, to replace the old Proof-of-Work consensus model. It’s a big shift, but the brightest minds are set on the task with the result being a huge boost in usage, adoption and price in 2020, or beyond. Prepare for a bumpy ride first.
Crypto.com - Offering payment cards and a whole suite of mobile app-based features (in one app) for managing crypto and fiat accounts, this quickly rising project in market cap has fingers on many buttons for wider adoption. The MCO and CRO token is pulling in the numbers for its attractive interest-earning percentages on its own exchange and related payment card features. It also has a next generation blockchain in the works.
Hedera Hashgraph - This may still be an early project but the mainnet is live for account creation. In terms of DLT it’s not technically a blockchain, but something faster called a DAG. If it can prove its resilience and speed and move further decentralised (more out of the control of its founders and into the hands of its community) then it will attract much greater interest. It may be a project that learns from mistakes that others have made (eg. EOS), and with the prospect of staking your HBARs via delegation and being involved with a super-fast 3rd generation crypto (with Google signed up on its ‘board of nodes’) - it’s a big one to get on board with early.
VeChain (VET) - Always with its focus on real-world application, particularly supply-chain, this public blockchain network is seeing strong development and growth, especially in the COVID-19 crisis, where tracking of goods and information is vital.
Zilliqa (ZIL) - Zilliqa has an exciting, secure working solution to the scalability problem via ‘sharding’, and its technology is reaching maturity with Binance staking nearly here. Price has already risen in 2020, but it’s still early days for a blockchain and dapp platform attracting much development and incentivising interest - and ready to prove itself. It could rapidly become a major network like Ethereum.
Here at GrabFreeMoney.com we continue to keep our ears to the ground with top investing ideas and projects that bring rewards or which are most likely to have big futures ahead. At the same time, we’re continuing to bring you new offers, bonuses and deals for your personal dashboards on our site, so you can swap points earned for real money. Then you can choose to swap your rewards for crypto.
Disclaimer - Always do your own research. This is not professional financial advice so you invest at your own risk. The cryptocurrency market contains speculative and volatile projects so never invest more than you can afford to lose.