5 Early Cryptocurrencies Worth Holding (Summer 2021+)

There's been a lot of Fear, Uncertainty and Doubt (FUD) online and in mainstream news articles - recently - about cryptocurrency. This is because prices soared in a bull market this year and when this happens, more of the opposite emotions emerge, a lot of them based on rumour and fear, as opposed to the solid fact behind the market rise: Paypal adoption, more development, decentralised finance, NFTs....

 

The real fact is: crypto is here to stay, and it's as exciting as ever. Bitcoin and crypto crashes, yes, and it's 'risky'. But... so is any kind of investment. Even investments held in supposedly solid financial institutions and intermediaries, i.e. banks.

 

Besides, crypto bounces back. Every. Single. Time. Sometimes, it takes time. The reasons are many. New developments, more adoption, more trust, more interest, high liquidity, more of a hedge or a reserve or it's getting scarcer. The technology is also, just better. It's how the web should be at last, web3, diverse and unstoppable.

 

Environmental concerns are real, but they are necessary, likely transient, part of the evolution of Bitcoin and Ethereum and their evolution towards alternative consensus algorithms, or their move towards greener, cheaper energy sources. It's unfortunate, but Bitcoin's current energy usage happens to make it the most trusted - and trustless - payment network in the world. For those finding - of funding - green sources of energy to run their nodes, the gains will be theirs. The incentive is there. 

 

Will this bull market ever end? You could bide your time, or put some cash aside for when that happens, and buy in low. There may well be corrections, but it's unlikely prices will return to low altitude for very long now. The cruel thing is that Bitcoin still influences the prices of all other cryptos, until the time when enough money enters the space, and alternate projects break free of Bitcoin's influence and find wider adoption. However, there are projects already which bounce back faster than others when there's a dip, because they are highly desired. We believe, you'll find some listed in this article.

 

Crypto is the ultimate source of passive income, since it's a new economy finding its way. Hacks do happen, or 'exploits' but they allow the protocols governing certain projects to evolve and improve. 'Invest what you can afford to lose', is a good mantra, at this stage. Accept the risk. Learn lessons. But you'll understand quickly that these blockchain networks are coming, and they are bringing with them unstoppable web3 dapps which do cool things: reward you for providing liquidity, staking, for running your own no-loss lottery, getting rewarded directly for creative work, as a few killer examples. The old internet rewards no-one and blinds you with adverts. 'Community-run', has a bright future. 

 

In fact, it's governments and old-school financial intermediaries which will have to adapt, not the other way round. Exchanges can be regulated, that's fine. Regulation will only help a technology that is clearly embedding itself into the new generation; a generation that wants to be allowed into financial territories previously treasured - and explored - by the elite, savvy or very wealthy. And these territories are being re-created in incredible ways thanks to crypto.

 

It's time for the poor to get richer, and take risks, and the richer to play it more safe -  and become less rich...

 

Here at Prizes Drop we love projects where people can earn passively by investing their time or money, and by learning new things. You can earn our special points by completing our easy mini-tasks. Sign up today to get your free dashboard for earning and you'll be swapping your points for Amazon etc. vouchers in no time.

 

We also love crypto. You can swap your points for the likes of Bitcoin and Ethereum, and in turn swap them for any of the cryptos mentioned below, at leading exchanges like Binance, Coinbase etc.

 

Top 5...

 

There are a host of possible alternative cryptocurrencies out there, but let this article be your guide in discovering 5 exciting ones. Four of these are based on the Binance Smart Chain network, so you may have to adjust your web3 Metamask wallet and fund it with BNB, the native gas token. The Binance Smart Chain is a mix of Decentralised Finance and Centralised Finance (CeDefi), both of which have their advantages, one of which is that the network is supported by Binance.com, which can fund development and also help in compensating protocols which become victims of hacks and losses. You could make a strong case that CeDefi is what is needed at this infant stage of blockchain protocol development, where security is still evolving, and a guiding force can still influence this to some degree.

 

That is, until Ethereum and Cardano networks become more 'ready'. In that time, there are many projects which will find their feet on BSC, before evolving beyond onto other chains. 

 

The following projects are currently some of the safest on the BSC, but you should make your own judgement before placing funds into their smart contracts. 

 

 

1. Pancakeswap.Finance ($CAKE)

 

This de-fi website and well-loved project is growing from strength to strength. As an exchange, it still attracts the largest transaction volume and allows its users to earn crypto by staking CAKE into the pools. You can also become a Liquidity Provider to earn more CAKE, since you earn a portion of fees from people transacting via your tokens. Diversify your portfolio by earning a wide range of interesting coins, thanks to the Binance Smart Chain network. You'll need to adjust your Metamask settings and remember that BNB is the token used for transacting there.

 

2. Bakeryswap.org ($BAKE)

 

An alternative to PancakeSwap, with an equally impressive ecosystem of tokens and features on BSC. This year, their NFT marketplaces have seen huge interest, enabling the BAKE token to achieve value for buying and selling rare art and collectibles. It's also a platform for launching new projects, some of them NFT based, such as the successfuly $DOGGY project. See our previous blog article on Bakery Gallery.

 

3. Cafeswap.Finance ($BREW and $MOCHA)

 

Yes, another alternative, up-and-coming AMM and Yield Farming platform, where two tokens can soon be used to farm for yield in so-called Smart Vaults, and a lottery. It has its own dex for trading, and a promotion platform for new projects on Binance Smart Chain, which is where the $MOCHA token gives special access. 

 

4. Venus ($XVS and $VRT)

 

Venus is a major 'money market' on the Binance Smart Chain, which allows for borrowing and lending. XVS is the governance token, and VRT is the reward token, which is given as a reward to those using the website, albeit borrowing or supplying crypto. It continues to evolve and provide many with a solid rate of passive income, depending on the crypto in demand.

 

 

5. Ethereum ($ETH)

 

Still early in development and often overlooked in favor of Bitcoin. This year, Ethereum is set to accelerate, and to explode like a sleeping giant, having slumbered for a long time in scaling limbo. (See also Cardano ($ADA) too). If all goes to plan, this blockchain, - which has continued to see usage despite huge transaction fees - will carry the hype and growth of the NFT art boom, along with all its other innovations and developers who've been waiting for it to move to ETH 2. A truly decentralised network, loved and supported by many top developers deploying ground-breaking smart contract projects. 

 

It's just a matter of seeing through its roadmap for a successful transition to Proof-of-Stake consensus. There could be bumps in the road, but you don't want to miss out on the destination. Even better, help enable that destination by becoming a staker of ETH 2. 

 

 

So... these are our suggested 'crypto picks' for 2021. After the most recent flash crash, some of the prices are still favourable, but you should certainly check out these projects, explore their websites with your web3 (metamask etc.) wallets, and make up your own decision to invest, or interact with the sites. After all, crypto itself is all about being a master of your own money, and managing directly yourself, and not anybody else. 

 

Keep on earning points here at Prizes Drop and you'll be earning extra crypto at the same time! Get your own dashboard for managing the simple tasks you complete.

 

 

June 2021