The marvelous world of crypto
Hello beautiful reading souls of the Goddess Blog and welcome to another Monday and another fantastic start of the week, today I will be sharing a very informative post (from my perspective) about the wonders and marvels of the crypto-world! Don’t know if you guys know, but I have actively been dabbing into the crypto world for some 7-8 months now, and I have to say that it has been one of the best decisions I have ever done in my life - maybe second best, after my blog! :D So stick around as I will be sharing a quick post about my humble crypto beginnings, about my future plans and I will give a special mention on which crypto you guys should definitely take a look into if you are willing to invest some of your money into the majestic crypto-verse! As always guys, remember to get this Goddess some lovely cups of coffee! :)
There's always something exciting happening in the cryptocurrencies space. At its core, the crypto field is a place of capital "B" Big ideas. The Bitcoin white paper, circa 2009, explains a peer-to-peer, decentralized, scarce electronic global currency that cuts out print-happy central banks and moral-hazard-ridden financial institutions and middlemen. A dozen years later, the crypto market is worth more than $2 trillion, with thousands of digital currencies and projects to choose from. It's a lot to sift through, and, unlike stocks, digital currencies don't lend themselves to fundamental analysis. But not all cryptos are created equal: some are realistic and nice projects that can earn you a lot of money, others.. not so much.
But let’s back up a bit: How did the Goddess get into crypto?
1. The beginning
It all started in the early days of March, thanks to a Seeking Arrangement Daddy, the lovely CryptoMillionaire (talk about suitable nickname, eh? :D). After he showed his appreciation of the Goddess writing skills, he mentioned that he is actually earning a big procent of his fortune on crypto. Conversations took place, and after a short while, your Goddess decided to make a first-time, small investment of 200 USD worth of ADA crypto, commonly known as the Cardano. I don’t recall the price of the ADA at the time of buying, but I believe it was something along the lines of 0,50 USD/1 ADA. Slowly but surely, thanks to the lovely CryptoMillionaire, I also started shifting more and more into crypto-related projects, one of which is Ecency, a crypto-powered social network, very similar to Instagram and Facebook. The Ecency network is based on the crypto currency HIVE, and it is one of THE MOST interesting crypto coins out there. But we will get to that later. What happened in the crypto world for your Goddess since March?
2. Passive.. and active income
The returns that I have made on my crypto investments, as of today, 25.10.2021, are the following:
All Time Profit
41.24%(+ $1,899.85)
As you can see, in a relatively short period of time, I have been able to accumulate almost 2.000 USD of profit, with an investment of approximately 2.500 USD to begin with. Not too bad for a blogging Goddess! Have in mind that most of my investments have been in relatively stable coins, which brings me to my next point of view…
3. What’s the best Cryptocurrency to buy?
Well.. this is actually a tough question to answer. Because it is very tough to fathom just how much leverage you can have while investing in crypto. A good way to start is the following: always invest the money that you do not need. I had a very interesting routine: out of my blog donations and additional SA incomes, I invested 10% of my monthly earnings into crypto. This way, even if I generated a loss, it would not be too bad and it would not bother me so much.
Now that we have the starting point of investment in mind, we can take a look at eight Cryptocurrencies that the Goddess suggest taking an interest in:
a) Bitcoin (BTC) - Bitcoin's invention in 2009 changed money forever and opened the door to all sorts of variations on and improvements of its technology. It's tough to understate the importance of Bitcoin and the underlying concept of the blockchain that accompanied it, but 12 years later, Bitcoin's first-mover advantage has compounded to put its market capitalization above $1 trillion. As the premier "blue chip" cryptocurrency, BTC is not only tried and true but is still setting new milestones: Tesla Inc.'s decision to put Bitcoin on its balance sheet and El Salvador's move to make it a legal tender are two landmark 2021 actions illustrating how mainstream BTC has become. With trillions of dollars on corporate balance sheets still sitting idle in cash or cash equivalents, BTC's penetration of corporate finance is still in the early innings.
b) Ethereum (ETH) - Although Bitcoin has been the lead crypto from the get-go, Ethereum emerged as a force to be reckoned with in 2015 and is perhaps the only other token with any business being regarded as a blue-chip crypto. Ethereum's market share in the nascent and fast-growing field of decentralized finance, or DeFi, has the digital currency slowly chipping away at Bitcoin's share of the overall crypto market. At the beginning of 2021, Bitcoin accounted for 70.7% of the market, with Ethereum accounting for just 10.8%. Today, the gap has dramatically narrowed, with BTC at 45.1% and ETH at 18%. But only about a third of Bitcoin's declining market share is attributable to ETH – the rest can largely be chalked up to some of the best cryptocurrencies to buy that follow.
c) Solana (SOL) - Solana quickly burst onto the scene in 2021, rising from obscurity – SOL had a 0.01% market share to start the year – to become one of the top 10 cryptocurrencies by market cap by September. Like Ethereum, Solana has become a leader in DeFi, where users can create decentralized applications, or Dapps for short, that cut out traditional financial gatekeepers like exchanges, brokers, clearinghouses and banks themselves. Novelty isn't always a plus, but it is with Solana: The Ethereum-like network has been quick to attract quality engineering talent due to the underlying Rust programming language that's extremely easy to use. Two other improvements SOL has over ETH: The network boasts both faster speeds and much lower transaction fees. Solana's price is up about 100-fold in 2021 alone, roaring from $1.51 to more than $160.
d) Axie Infinity Shards (AXS) - As the space evolves, the best cryptocurrencies to buy tend to become more and more obscure. Enter Axie Infinity Shards, the governance token for a blockchain-based game reminiscent of Pokemon. It's a player-owned game, with AXS acting as the voting mechanism. Built on the Ethereum blockchain, Axie Infinity is a great example of the freewheeling creativity that can unfold on the blockchain these days. The ecosystem is unique because it's proven an incentive-based game can be built and successfully sustain itself on a decentralized network. Aside from simple fun, play-to-earn options encourage continued usage, and each character is its own nonfungible token, or NFT, that can be leveled up through gameplay. AXS has gone parabolic this year, soaring from 57 cents to its current level around $126.
e) Cardano (ADA) - Cardano will always have a soft spot in my heart due to it being my first ever crypto investment. Although not quite in Ethereum or Bitcoin's league, Cardano is an obligatory nominee for the best crypto to buy. It's the third-largest by market cap next to Bitcoin and Ethereum. It's younger than both Bitcoin and Ethereum, with the first ADA – the local currency on the Cardano blockchain – appearing in September 2017. Cardano 's appeal is multifaceted: It was founded by one of Ethereum's co-founders, Charles Hoskinson, giving it instant credibility, and unlike ETH, it also has a hard cap on the number of coins that can exist, at 45 billion. Another advantage over many other cryptos: Cardano uses a proof-of-stake protocol to incentivize users to create new blocks, a process that some experts estimate is 20,000 times more energy-efficient than Bitcoin's proof-of-work algorithm.
f) Binance Coin (BNB) - While Coinbase Global Inc. (COIN) gets the bulk of the media's attention when it comes to cryptocurrency exchanges, Binance is the largest global exchange by volume. Binance was initially based on the token issued through the Ethereum blockchain but has since transitioned to being issued on its own Binance blockchain. As with several other top cryptocurrencies, there's a maximum supply of BNB, which is capped at 200 million. Currently, more than 168 million are already in circulation. One catalyst for the coin's rally over the years is Binance's goal to reduce total supply by 50%. To this end, Binance conducts quarterly "burns" of coins to reduce supply. The three burns announced this year have destroyed 6,016,504 BNB – the equivalent of about $2.5 billion at today's prices. Since the initial coin offering in 2017, the BNB price has soared from 10 cents to about $415. In 2021 alone, the coin is up about 1,000%.
g) Wilder World (WILD) - Easily the least-known and riskiest of the top cryptocurrencies to buy right now is Wilder World, one of the newer coins around after debuting in May 2021. First things first: Prudent investors should only entertain WILD as a small, speculative holding – its lack of a track record and $118 million market cap (the others on this list are worth between $7 billion and $1.05 trillion) make it an out-and-out gamble. But holding a smattering of small cryptos that could "moon" can sometimes be quite lucrative. Caveats aside, WILD is the governance coin of the Wilder decentralized autonomous organization, which has created a metaverse. Digital artists can create and sell NFTs in the ecosystem, with the WILD token acting as the native currency. Wilder World doesn't exact fees from artists for sales they make in the ecosystem.
h) Hive (HIVE) - Last but not least, HIVE is probably one of the most interesting crypto coins out there, and my personal favorite. Just take a look at their personal social network, which is just one of the many projects that the HIVE-verse can offer: https://ecency.com/
So, if you guys want to save some money outside of the banking system that is all around us, take a look into crypto - I promise you, you will not regret it! :)
That is it for this fine Monday from your Goddess! I hope you enjoyed the read.
Goddess will be back tomorrow,
xxxxx
