Got $1000? Buy These 3 Top Cryptocurrencies

Last Updated September 6th 2021

6 Min Read

2021 has been an adventurous year for the crypto market. Institutional interest in cryptocurrencies has increased at a rapid rate. However, despite its popularity, Bitcoin is not the only cryptocurrency that is flourishing. Innovators and spinoff currencies have emerged in large numbers, and there are more than 7,000 cryptocurrencies available in the market today. So if you have got $1000, buying these 3 top cryptocurrencies now could pay off in the future.

Based on considerations such as buy ratings, price history, network updates, etc., we have put together a list of the best cryptocurrencies to buy. These digital assets are popular among investors and traders as they have room for growth. So let us look at these assets and understand what makes them suitable candidates for investment right now.

If you're looking for a place to invest some spare cash right now, Fantom (FTM), Enjin (ENJ), and Solana (SOL) are worth a look right now. Here's why.

1. Fantom (FTM)

Fantom is the world’s first Directed Acyclic Graph (DAG) based smart contract platform. This fourth-generation blockchain provides developers and users with some significant upgrades in terms of functionality and usability when compared to the market’s leading blockchain, Ethereum.

Fantom’s developers have focused on creating a reliable, secure, and fast network for transactions. The final goal of the project is to become the “nervous system for smart cities.” In addition to its infrastructure goals, Fantom seeks to become a top-performing decentralized finance (DeFi) platform in the market. The network offers a variety of popular features such as staking and peer-to-peer lending services. In this way, Fantom seeks to capture some of Ethereum’s DeFi market share in the coming months.

Fantom was built to tackle many of the problems faced by Ethereum users and developers today. The primary focus of the network is to create a secure and scalable decentralized network. As a result, the platform can provide near-infinite scalability and instant transactions at nearly zero cost.

Fantom does away with the power-hungry Proof-of-Work (PoW) consensus mechanism used by early cryptocurrencies such as Bitcoin and Ethereum.

This strategy enables the network to validate its state using less energy. This approach makes Fantom more sustainable and environmentally friendly. One of the biggest advantages that Fantom brings to the market is its low fee structure. Users can send transactions for a fraction of the cost of using Ethereum currently. This micro-fee strategy also benefits developers as they can provide their services for far less expense.

There are various benefits users gain when they join the Fantom ecosystem. The platform has proven ideal for payments, supply chain management, DeFi, and enterprise applications. Additionally, developers do not have to learn a new programing language. Fantom is completely EVM-compatible.

In terms of scalability, Fantom is a top-performing network. The platform provides near-instant transactions. Currently, users enjoy a time-to-finality (TTF) of around one second. As the network matures, the developers have set an end goal of executing 300,000 transactions per second (TPS). This would put Fantom far ahead of some of the world’s top payment processors such as VISA and PayPal.

For all these reasons, Fantom is an emerging crypto platform. Investing $1000 in FTM now could help investors generate sizeable returns in the future.

Check out: 3 Beaten-Down Cryptocurrencies To Buy In A Heartbeat Over Bitcoin

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

2. Enjin Coin (ENJ)

Enjin Coin (ENJ) is an ERC-20 token traded on the Ethereum blockchain, and its underlying Enjin technology powers an ecosystem used for NFTs, gaming, and other distributed apps. The company behind Enjin operates several blockchain products, including a marketplace, wallet, and developer platform, all built around Enjin Coin.

The blockchain network is designed to integrate with games. Users can use Enjin Coin as a currency and use the Enjin wallet to buy, sell, and trade NFTs. For example, MMORPG players may buy an item in Enjin usable across multiple games and easily tradeable or sellable in an online marketplace.

The main feature that the Enjin project offers its users is the ability to create and manage virtual goods. In addition, developers can launch their cryptocurrencies backed by the ENJ. This makes adding cryptocurrencies to the gaming world and gamification more straightforward.

According to co-founder Witek Radomski, the coin is unique because ENJ directly backs every token minted with Enjin Platform. It essentially gives in-game items real-world liquidity, which then opens up the possibility for crypto-powered and blockchain gaming and gamified real-world platforms.

Enjin’s solid use case, along with the inherent scarcity of the ENJ token, creates a great value proposition for the project as a whole. Moreover, the platform has tremendous growth potential, making now a good time to invest $1000 in ENJ.

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

3. Solana (SOL)

Solana is an open-source project that relies upon the permissionless nature of blockchain technologies for it to provide decentralized finance solutions (DeFi). Anatoly Yakovenko founded Solana in 2017. SOL is also a fourth-generation blockchain and virtual currency that provides greater scalability by leveraging an open infrastructure.

While the work on the project began nearly four years ago in 2017, Solana was officially introduced by the Solana foundation based in Geneva, Switzerland, in March last year. The network brings forward unique and newer technologies to provide its platform users enterprise-level security along with transaction speeds that are unmatched by any other available network. Notably, the network had been showing significant growth since its introduction back in 2017.

The entire architecture of the network has been structured to be resilient and expandable to censorship. In addition, the distributed and trustless blockchain addresses bandwidth and the speed of transaction settlement concerns with the help of its design layout.

Solana is also referred to as the fastest programmable blockchain in the crypto industry today, which also runs various decentralized applications. Moreover, the Solana network is one of the few eligible coins that can be the potential inheritor of the Ethereum (ETH) throne.

The blockchain network has been slowly and steadily making waves by enabling online traders to perform crypto-based purchases and sales so they will not have to wait for weeks for their funds to be deposited in their bank accounts.

SOL is merely a native token to the Solana network and is one of the fastest-growing tokens in the market today. Solana is a computing platform that is decentralized and uses SOL to pay for their transactions. Nearly after a year and a half since the mainnet launch of Solana back in March 2017, the network is perhaps the hottest blockchain in the crypto marketplace.

Solana is emerging as the next big token in the crypto market. If you are looking to become a part of this ecosystem, buying $1000 worth of SOL now could be a good start.

Don't miss: Solana Price Predictions

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 question about it. Cryptocurrencies are here to stay. So if you have got $1000, buying these 3 top cryptocurrencies now could pay off in the future.

But remember that digital assets are not a get-rich-quick scheme. Instead, investors should consider them a long-term investment. Therefore, it is also essential to carefully consider how much of one's portfolio should be devoted to cryptocurrency and determine that allocation is in line with your risk profile.