We have come a long way since the early rise and fall of the cryptocurrency market back in 2017. A lot of new coins emerged, and interesting concepts shaped up in this new industry, establishing solid grounds to enter a prosperous 2021. But let’s face it…If you don’t own millions, you won’t make millions with Bitcoin anymore like in the good old days, at least not anytime soon.
There are PLENTY of other alternatives coins (well, Altcoins for short) out there, with solid concepts that solve our daily needs, and are an essential step in a decentralized future. Big Tech, Financial Institutions, and avid investors are all piling up on cryptocurrencies, with the latest being non-other than Mr. Wonderful from Shark Tank, investing 5% of his investment portfolio in cryptocurrencies.
That’s why we picked our TOP 3 Altcoins to invest in, in order to set up a strong portfolio into 2021. For the remaining 40% balance of your portfolio, it is recommended to check out your personal preference for various other coins. Check out our daily articles to get more insights!
1- Ethereum (ETH)
There are a lot of metrics that signal an even stronger year coming for Ether:
- Ethereum mining difficulty hits an all-time high
- There are almost 500k daily ACTIVE addresses (doubling YTD)
- Ethereum has the highest daily fees volume, surpassing BTC
- More than 80 billion gas is now being used on a daily basis
- There are more than 1 million DeFi users to date
The list goes on for sure, but one thing tops it all up: with Bitcoin nearing its all-time high, Ethereum still didn’t reach half of its previous all-time high, with Technicals indicating a further increase in its value.
Current Price: USD 590
Portfolio recommended construction: 30%
2- Compound (COMP)
If you are unfamiliar with Compound, it is a platform that lets users lend cryptocurrencies to other individuals, pretty neat. It is the third-largest DeFi platform, with 1.55 billion in assets locked up in its smart-contracts. To borrow cryptocurrency, the user has to put up collateral that exceeds the amount they are borrowing.
What’s interesting about Compound is that this project kicked off with the big DeFi summer bubble of 2020, where prices shot up at first, then adjusted back to market norms. Unlike others, COMP managed to consolidate in price, while its total value of collaterals more than doubled to date!
Current Price: USD 162
Portfolio recommended construction: 20%
3- Yearn.Finance (YFI)
YFI is a decentralized ecosystem of aggregators that utilize lending services such as Aave, Compound, and others to optimize token lending. Basically, it converts all your DeFi lending tokens into yTokens, and periodically rebalances the mix of tokens in the portfolio to always have the highest interest rates, just like a private Financial Consultant!
In a world where interest rates are ZERO or even NEGATIVE in some countries, being able to get a significant yield is very interesting for a lot of people. YFI has been actively integrating with multiple DeFi protocols (Cover protocol is the latest addition, where a merger happened recently).
Current Price: USD 28,217
Portfolio recommended construction: 10%
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Rudy Fares
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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
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