Last month I wrote an article about the top ten cryptocurrencies to invest in for July of 2021. That article seemed to help out many who were wondering where to deposit their money for some growth of their money. Well, based off of reader feedback, I have decided to make this a monthly listing that would hopefully continue to help people. In addition to that, I will compare my updated selections to the previous month’s selections, this way, I can provide a brief analytical breakdown of the cryptocurrency space and why I moved certain assets up or down on the list. If you have any suggestions for how to improve the listing, let me know!
10. Terra/LUNA (former: Cardano)
Terra is a unique coin that offers a wider variety of advantages and financial benefits to its users. One such advantage is the ability to invest in multiple stablecoins on its platform for up to 19% in returns. When this is coupled with the fact that the technology for the blockchain underlying this cryptocurrency is one of the most advanced, I see no reason you should not consider investing in this cryptocurrency. At the time of writing, Terra was worth about $12.26, and its price was increasing while others were decreasing in value. While I think Terra is a fantastic platform that offers stable and secure benefits, it is relatively obscure, and its technology can be difficult to navigate for newcomers. However, for long term holders looking to cash in on a growing blockchain with stable passive income output I highly recommend Terra.
9. VeChain (former: VeChain)
VeChain is at number 9 because it has shown neither strong growth nor strong depreciation over the last month. While I do believe VeChain’s goal as a platform is superior to many other cryptocurrencies, I also believe it will have very slow growth. With VeChain, the real value of the currency will not shine until global adoption puts it at the forefront of the supply chain. As of now, the price will likely fluctuate alongside Bitcoin’s oscillating values, and the interest on held VeChain is paltry compared to other options out there. If you want a coin to buy for a long-term hold with some smaller passive income gain, then VeChain is the coin for you.
8. Zilliqa (former: Cosmos)
I dropped Cosmos for Zilliqa because Cosmos is going nowhere quickly. The value of Cosmos has barely budged in the last month, interest for the coin is at an all-time low, and developments on the platform have been extremely weak. Therefore, I can no longer recommend buying Cosmos (although I do still hold a small amount).
Zilliqa is a proof of stake coin that has already mastered the art of sharding, which allows multiple transactions to occur over a short period of time. Zilliqa allows users to complete transactions cheaply and quickly. The platform has an exchange, other coins with utility, a mobile app for pay, and the ability to stake through its web platform. I personally think Zilliqa is one of the most advanced cryptocurrency platforms out there right now and is lightyears ahead of the competition in terms of usability. However, fees for things like claiming your staked earnings can be quite high and cause you to gain less money than you would with other platforms. If this hiccup could be overcome on the Zilliqa platform, there is no reason it couldn’t be a bitcoin killer.
7. USDC / TrueUSD / Dai (former: Stablecoins).
The stablecoins remain on the list as a top contender for investing. They are at an all-time high demand as people look for safe places to store their extra income. Having a digital asset that does not change a value and accrues high interest is of particular use to people. Interest rates for stablecoins are not as volatile as demand-driven coins. So why are stable coins a good investment if the value doesn’t change? That’s simple, and it comes down to having a stable asset that earns high interest on a daily basis. Those who already have a large amount of money or people looking to build a stable savings account should look no further than stablecoins for investment.
6. Harmony One (Former: Crypto.Com Coin)
I dropped Crypto.Com Coim for Harmony One at 6th place because CRO seems to be stalling on its vision and development while Harmony One is growing. CRO seems to be catering to all the wrong things on its platform. Instead of focusing on decentralization and utility, it is focusing on NFTs. Therefore, while I continue to hold CRO, I cannot recommend it this month.
Harmony One aims to make development on Ethereum easy and affordable. Instead of paying large amounts of money for gas to complete transactions, Harmony One’s technology allows those transactions to be ported over to its technology, and the cost of transactions to be diminished greatly. The platform also offers staking at a generous 8–10%. Seeing as the coin is so cheap and its utility will likely be required in the short term, I see no reason to make this a valuable hold for both short and long-term gains.
5. Yieldly (Former: Bitcoin)
Yieldly has the potential to be the next millionaire-maker coin. As an asset operating on the Algorand blockchain, Yieldly is a DeFi platform that aims to increase user’s finances through no-loss lotteries. What this means is for each Algo you deposit on the platform, you get an increased probability of winning 18,000 to 25,000 algos. If you aren’t picked, you can just leave your money there and keep playing, and you’ll earn Yieldly instead. While Yieldly’s value is low right now, that is a strength. For one, if you buy through an exchange like Uniswap, you can accrue a large amount of Yieldly to stake on the platform. The other thing going for it is that Coinbase is already watching the coin, and it is listed for viewing. Its technology will eventually allow for cross-chain swapping and asset exchange all on the platform. It’s too good to be true.
You’re probably wondering why Yieldly replaced Bitcoin. Well, my thinking is that the world wants cleaner, more affordable, and scalable cryptocurrency technologies. Bitcoin does not provide that, and many critics have claimed that Bitcoin will see congestion as adoption continues. The only advantage of Bitcoin is its name.
Ethereum is still a top contender as its technology and demand continue to grow. While it’s clear that Ethereum 2.0 has stalled out, I think we will continue to see a lot of adoption and development on the Ethereum blockchain. Ethereum’s Values are also easier for less wealthy investors to get their hands on. Since popularity and utility remain high, I see no reason to not invest in Ethereum.
Ethereum replaced Polygon on this month’s list because Polygon honestly won’t be relevant after ETH2.0 releases. Yes, old platform coins and infrastructures will need support, but the bulk of the money will shift to the 2.0 network. Polygon focused on making Ethereum better and will lose its relevance over the next few months to years.
3. PancakeSwap (Former: Ethereum)
PancakeSwap was a platform that I previously neglected due to its ridiculous name. However, after looking into it further, the amount of benefits one can acquire through the use of this platform heavily outweighs the cons. Yes, fees can be high for transactions, but the farming pools provide such good apr yields that there is no reason to skip over. Since the coin is popular and is growing in its development, there is plenty of potentials for its price to continue to rise.
I shifted Ethereum one ranking down because it is still a proof of work token that uses too much energy and has a host of problems in terms of transaction speed and fees. To me, that makes Ethereum much less useful as a utility token and as a long-term investment.
2. Elrond (No change)
Elrond remains in second place as it has experienced some growth over the last month despite the volatility in the market. Its technology continues to grow and the soon-to-be-released maiar exchange will provide users with the ability to do cross-chain currency swaps with ease eventually. The maiar app makes it easy to stake and send egld. The team behind the development of Elrond is consistently putting out updates and information about new initiatives and partnerships with other organizations and platforms. Elrond is an easy choice for investment given its numerous advantages, low total supply, and high-interest yield.
Still the all-around best cryptocurrency out there in terms of development. Algorand is a tried and true cryptocurrency. The Algorand wallet allows easy staking and transfer of funds. There is no stake period, so when you want to access your funds you are free to send them whenever. This is one of the only platforms I know that allows interest accrual in a wallet without having to bond to a validator to earn passive income with the coin. The team behind Algorand is world-class and has announced several features (such as decentralized voting, a re-vamped interest payout system, and partnerships) that make it one of the most developed and stable blockchains out there. DeFi Apps (such as Yiedly) are already making an appearance on the Algorand blockchain and providing a plethora of benefits to Algo users.