3 No-Brainer Cryptocurrencies To Invest $1,000 In Right Now

Your guide to investing in the top three cryptocurrencies 

Last Updated October 15th 2021
7 Min Read

Cryptocurrencies are making headlines all over the world. Currently, there are thousands of digital assets in circulation today. The broader crypto market has been down over the past few months for many reasons. However, it is now moving to the recovery phase as the bulls are trying to seize the market.

It is no secret that Bitcoin is the king of cryptocurrencies. But that does not mean that it is the only coin generating profits. Several altcoins like Ethereum, Cardano, Dogecoin, etc., have won over investors and generated unprecedented returns. Unfortunately, the abundance of cryptocurrencies in the market can confuse and overwhelm first-time users while investing.

To make investment planning easy for you, here is the list of three no-brainer cryptocurrencies to invest $1000 right now. 

1. Chainlink (LINK) 

With new partnerships every day, Chainlink is emerging as one of the fastest-growing crypto enterprises.

Chainlink is a decentralized oracle network poised to play a vital role in the real-world implementation of blockchain technologies. The purpose of this network is to provide input on a variety of external sources of data.

Although blockchain is efficient at what it does (providing a decentralized, secure ledger for digital transactions), it needs external help for taking input for things happening outside the blockchain. This includes various off-chain forces that influence markets, including fiat currencies, credit cards, weather, sports scores, etc. As a decentralized oracle, Chainlink can provide input to what is known as smart contracts.

These smart contracts help the system respond to a wide range of inputs. As the first-gen cryptocurrency, Bitcoin can only process a small range of this input. But newer blockchains, such as Ethereum and Cardano, have a wider range. That includes support for programmable smart contracts. On that note, Chainlink was launched on the Ethereum blockchain in 2019, but it is network agnostic. Thus, it can work with other blockchains, too.

LINK is the native token of the Chainlink platform. The coin is meant to help finance the project's growth and is similar to Bitcoin and Ether. Both of these cryptocurrencies work on their respective blockchains. Just like BTC and ETH act as an incentive for users to mine, LINK does the same.

The LINK token launched in 2017 with a price under 20 cents and remained under $1 until 2019. Then, in 2020, the price began to rise precipitously. Notably, the price increased from under $2 in early 2020 to a high of $36 in February 2021.

Investing in LINK is a tangible way to support the underlying technology. Chainlink looks to be an emerging technology as cryptocurrencies continue to evolve. Having an oracle like Chainlink will help boost the long-term stability and viability of cryptocurrencies in general. Thus, LINK may be a sound investment if you believe Chainlink will become the industry standard as the most widely-used, decentralized oracle network.

Check Out: Could Chainlink Be A Millionaire-Maker Coin?

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

2. Bitcoin (BTC) 

Thanks to its first-mover advantage, Bitcoin will always remain the king of digital assets.

Bitcoin, the oldest and the largest cryptocurrency, is now a household name. The coin's success has paved the way for the emergence of thousands of other digital assets. The leading digital asset has the highest liquidity value compared to any other cryptocurrency in the market.

Bitcoin is a decentralized digital coin with no restrictions. It is widely accepted across the globe, and the increase in popularity of Bitcoin has led institutions to pour millions of dollars into the coin.

The benefits of BTC are encouraging people to invest in these digital currencies. The demand for Bitcoin is increasing, so the price will also keep on surging. Keep in mind that Bitcoin’s future is bright as more and more people are willing to invest in it. Today is the best opportunity for you to invest in BTC. 

The flagship crypto eliminates the need for any physical barrier that can make the transaction slow. At present, the value of BTC and the number of users are on the rise.

Bitcoin cannot be created or distributed by any government or central bank. It is a currency created by the people and has no third-party interference. No one has the authority to freeze, charge, or demand your coins. They cannot be stolen, and the government can not seize them in any conditions. 

Bitcoin transactions use two keys: a public and a private key. BTC enables buyers to complete transactions without disclosing any confidential financial information to the seller. Bitcoins are just like digital cash that hackers cannot get their hands on in any way. At the same time, your true identity is hidden for good. This goes a long way toward avoiding targeted data breaches like the one at the UPS Store. In the case of BTC, consumers benefit from anonymity because all of their data is kept confidential and stored using blockchain technology. 

Transparency allows users to conduct transactions in their own time and with complete freedom. Lastly, Bitcoin has and will always have the first-mover advantage in the crypto market, making it a stellar investment choice. Buying BTC now could make you a millionaire in the future, according to many industry experts.

Don't Miss: Six Reasons Why Bitcoin Has Intrinsic Value

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

3. Dogecoin (DOGE) 

Jump on the Dogecoin bandwagon and diversify your portfolio through DOGE holdings.

According to the official website of Dogecoin, it is a decentralized peer-to-peer cryptocurrency that enables users to send and receive money online without any centralized authority. To put it simply, it is a currency for the digital world. The blockchain behind the cryptocurrency was created by software developers Billy Markus and Jackson Palmer in 2013. 

The Dogecoin Network is a digital payment system used for the settlement of financial transactions. DOGE is a digital currency that works on the Dogecoin network. 

The primary idea behind Dogecoin was to create a cryptocurrency that is more approachable and friendly. Since Bitcoin and Litecoin were solely based on many technicalities, which confused several people why the digital assets wanted to break into the traditional financial system, DOGE decided to be different and provide a fun side towards its usage. 

Instead of being adopted in the mainstream by well-established institutions, the Dogecoin Community decided to focus on charitable projects. Due to its difference, DOGE has a relatively easy mining process, and its usage in humanitarian work to several crypto enthusiasts shows the availability and sustainability of the crypto project. 

A couple of years after the cryptocurrency was released, it forged partnerships with several online retail outlets in the technology space. Slowly but surely, well-established institutions have begun showing interest in using DOGE as an option of payment. In 2021, several partnerships have been formed, and more are expected to come in the future.

One of the pros of DOGE is its fans across social media networks such as Reddit, WallStreetbets, Twitter, and Facebook. Monitoring the feeds and chats of DOGE holders alerts you to know where the price of DOGE is headed. In addition, some of the comments could inform you about price spikes in the future.

Dogecoin was already trading on some of the most popular cryptocurrency exchanges and brokerages. Since May, it has seen new listings. On 3rd May 2021, multi-asset brokerage eToro showed its support for DOGE. Their reason for listing the cryptocurrency was attributed to strong client demand. eToro serves more than 20 million clients. Through this listing, DOGE added more clients to its userbase. 

Later on, cryptocurrency exchange Gemini listed DOGE. With more such partnerships in the pipeline, the future looks bright for the cryptocurrency. As a result, Dogecoin is likely to gain more exposure and contribute extensively to the overall valuation of the cryptocurrency. If you are considering buying DOGE, now might be a good time, given the affordable entry point at the moment.

Investing in DOGE now could help you generate massive returns in the future.

Read Also: How To Make (Or Lose) Money With Dogecoin

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Bottom Line 

There is no denying that cryptocurrencies have proved themselves as a worthy asset class. However, while various digital assets carry massive potential returns, it is essential to remember that some of these assets can be very volatile. 

Trading requires liquidity. Investors are advised to look for virtual currencies with robust market caps that support buying and selling on multiple platforms. Tokens such as LINK, BTC, and DOGE boast high market caps in addition to offering a suite of features and advanced functionalities, which make them the top three no-brainer cryptocurrencies to invest $1000 in right now. 

eToro – The Best Platform to Buy Cryptocurrencies

eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

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