3 Currencies to Invest if You Have $1,000

Bitcoin’s bear market low in 2017 was $2650. In 2020, just under $5400. So if you are feeling down about current market conditions, just ZOOM out. Prices back in 2014 and 2015 are blips on the radar screen now.

A rounding error. So buck up. Someday your portfolio will be into the 6, 7, or 8 figures. And you will remember times like today when it was tough but you stuck it out. This is when we make money. So today, how to invest $1000 in 3 great coins that will crush it when the bull finally does return.

The Method and Coin 1

Here I am acting just like many of you out there. I know you are tired. Mentally, emotionally, and financially too. Even if you bought some dips in this prolonged bear market, we know money is tight. We know many of you are out of new money to invest.

And we also know that many of you know that better times are coming soon. So it’s a good time to invest if you have some savings. So today, no crazy statements. Just keeping it simple. How would I invest $1000 today? And we will put this $1000 into 3 coins.

Coin 1: GMX

The first coin today, where I am putting $350 of my money is GMX. Before the Arbitrum token came out, GMX held the place of a proxy token for the entire ARB ecosystem. And there’s a reason for that.

Arbitrum is a very good L2 for trading especially in perpetuals. And GMX is the leader here. They earn so much in fees compared to their peers, that they earn more in fees than Arbitrum does. They also earn more than OpenSea, Dydx, PancakeSwap, and Polygon. Uniswap, Lido Finance, and Convex are the only apps that earn more in fees than GMX over the last 6 months.

And yet what’s happened to the price? It’s in serious bargain territory. Its all-time high, which hit during the bear market in April 5 months ago was $91.07. Since then, it’s down ⅔ of its value to $34.58. Yet with NO change in fees. They are still getting lots of fee income. This is a true and rare crypto bargain.

So I am placing $350 of my money here as I expect the fee income and trading to only grow from here. And grow big once the bull arrives and everyone is clamoring to get back into the market. It would not surprise me at all if GMX does a 20x from here.

Coin 2: MATIC

Another bargain is old favorite Polygon. It’s down 34% over the last year. And even more from its bear market high of $1.49 in February. In fact, that’s a 70% drop to its current price of 54 cents.

So, the Market sentiment is doing this because Polygon is doing nothing except crushing on all its partnership goals. It seems like they are announcing a new deal every week with Instagram or Starbucks or somebody big in the legacy market who wants to move to Web3.

In fact, I can only see one major point of uncertainty that’s any different between now and February. Polygon is performing great, it’s doing all the right things, and its new zkEVM is out in the market too.

And that point is the token change from MATIC to POL. Polygon co-founder Sandeep Nailwal explains pretty well what is happening here and Polygon staking is just one big added benefit. POL holders can become validators in the network now too. Plus, there are 3+ years that you can wait and do nothing.

I am confident this move will only make the Polygon token, the new $POL, more valuable than the current MATIC is. So I am adding another $350 here. To get to $3, which would barely be a new all-time high for Polygon would be a 6x from here.  Again, no reason why this can’t do 20x or more.

Coin 3: INJ

We have $300 left and one coin. Part of me wants to tell you to buy Bitcoin as that is never bad advice if you hold it long enough. But I have a project here whose growth potential is enormous. And as early as we are to Bitcoin, we are even earlier here. Injective. Here we are not bargain hunting although it is down 13% in the last month. Even with that poor performance in the last 30 days, INJ is up 359% in the last year.

This definitely is not in the “no longer discovered” group of cryptos. The word is definitely out. Injective is a financial appchain. That means everything in its chain is designed with financial firms and functions like trading and lending in mind.

It uses CosmWASM, which is the 2nd biggest smart contract programming platform after Ethereum’s Solidity. That means it will be compatible with many other chains. And it is part of Cosmos and the IBC Hub to also make compatibility easier. So, Injective works with Ethereum and Solana too.

So they are covering ALL the bases. They’ve already done over 270 million on-chain transactions and growing. I feel good about this one for my last $300. Trading and lending will only grow from here. When the bull returns, trading will explode.

Bonus Tip

Finally, I want to add that if you are American, Canadian, or from a sanctioned country where people are limiting your options like Operation Chokepoint in the US, then I have something for you.

Please take some of your excess cash that you have outside of your emergency funds and put it in USDT, USDC, or DAI. Yes, it’s conservative. You may or may not make money with it depending on if you put it into a Liquidity Pool or not.

But believe me, your ability to offramp stablecoins you don’t need will be far, far easier than onboarding when you want to escape your home currency.

This trend of making onramping more difficult is only growing. DO NOT IGNORE IT. Get some into stablecoins and then you will be within the crypto system when you want it instead of wanting to and not being able to move your funds there.

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The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.


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