Ever thought about the best way to invest your spare cash? A way to turn pennies into serious cash could work if you’ve done your due diligence, weighed up the odds, and are open to risk.
Here is a short list of some up-and-coming investments that may take your fancy, as experts say these options are money makers though expectations could be different:
NFTs and the Bored Ape Yacht Club via Ethereum could be the blockchain technology that makes you a millionaire. Considered version 2.0 after Bitcoin’s 1.0 model, venture capitalists often elect as part of their investment portfolio. Neymar’s Bored Apes have plummeted by 32% at the beginning of May, so your guess is as good as mine as to investment potential right now. CoffeeZilla’s take, sums it up!
Cryptocurrency is a volatile market with several unreliable shitcoins like Dogecoin that tycoon Elon Musk purchased. He bought a total of 2,500,000 coins in June 2021. Down from around half a million US$ to a measly $200,000.00 it might put you off this changeable market. Big players are convinced cryptography is the way to go for future success. So, if you decide to join in the madness then only risk what you can afford to lose. Go for the long term and not the mad up and down swings in crypto market positions
Terra’s stablecoin is another one that has crashed while its sister company LUNA that was worth more than $80 (€76) a coin at the start of May, and as of 18 May it was worth a fraction of a cent. Terra is a legitimate cryptocurrency but with the element of its stablecoin, UST that went wrong, or rather the owner, South Korea’s Do Kwon managed to rip people off $45 billion.
The crash of these two coins has been compared to a mini 2008 financial crisis within the crypto eco-system, with their collapse having a knock-on effect on other digital coins and projects, wiping billions of dollars off the market. Now Terra has come up with a resurrection plan with its new chain launch. Another stablecoin $10 billion down is Tether. Poised for collapse CoffeeZilla has these words.
Terra (LUNA) blockchain is moving closer to being re-born as Terra 2.0, this time without an algorithmic stablecoin. Several crypto exchanges are giving their blessing, however, watch out as Do Kwon might be back to his old tricks and making sure his wallet is full of cash while others lose their lifelong savings bigtime. Looking at the chart would you seriously consider getting onboard?
Web3 (also known as Web 3.0 and sometimes stylized as web3) is an idea for a new iteration of the World Wide Web based on blockchain technology, which incorporates concepts such as decentralization and token-based economics. Blockchain technology is considered by many the way forward.
On a potentially positive note, Adam Neumann recently launched a startup called Flowcarbon to sell tokenized carbon credits on the blockchain. Its protocol helps the project to sell tokenized carbon credits to companies looking to reduce their carbon footprint. It has raised $70 million in seed money, so far!
It isn’t all bad news either, as investing after a bearish market could be buying at more attractive prices poised to recover over time. However, unless you have a crystal ball your guess is as good as mine.
Building a cost-effective portfolio that provides profit potential most certainly is a subject to wet anyone’s appetite. It offers hope in the modern world which is constantly developing. Getting in at the right time could mean now is the right opportunity to invest.
Take care!
Prof. Carl Boniface
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Vocabulary builder:
Iteration (n) = repetition, restatement, reiteration, recapitulation, rehearsal, duplication