Cryptocurrencies have emerged over the last 14 years as an ideal investment option for those with a relatively big risk appetite. Its track record demonstrates that a bigger appetite could translate to exceptional gains.
As such, the industry is no stranger to novice investors who enter it after getting wind of stories about people who adopted crypto earlier in the decade and are now millionaires.
As the market begins to show signs of recovery, it could be ready to make room for more growth and, therefore, more millionaires. And based on our observation, three cryptos could exponentially grow any investor’s portfolio: Uniglo (GLO), Avalanche (AVAX), and Bitcoin (BTC).
What is Uniglo and how could it possibly make you a millionaire? Uniglo operates in the decentralized finance (DeFi) space and aims to stand out by supporting its social currency (GLO) with an underpinning portfolio of both volatile and stable assets. The project will have a community vault in which assets such as digital currencies and digitized real-world collectibles will be kept and maintained as they appreciate in value.
This vault will provide a kind of security and stability that is absent in many other cryptocurrencies in the market. As such, the Uniglo Community Vault is a key component in building wealth with GLO tokens.
Moreover, the Uniglo protocol also introduces a novel manner of using the token burning process. It implements an Ultra-Burn Mechanism that could take the scarcity of GLO tokens to a whole new level, benefiting token holders in the process.
Avalanche is a very popular smart contracts platform that entered the market in 2020, just in time as Ethereum was starting to experience congestion issues. Avalanche boasts of a time-to-finality that is far superior to that of Ethereum. While the latter is in the process of migrating to a proof-of-stake consensus, Avalanche has already implemented it.
The price of the AVAX has had its ups and downs. In 2021, its price ranged from as low as $3 to as high as nearly $150. At present, AVAX is trading around $26 but experts predict it to reach over $100 again in the coming years.
Despite the Fed rate hike and expectation of a recession, Bitcoin is finally showing signs of bullish sentiment. It broke free from the $20,000 resistance level and was able to reach $24,000. Currently, BTC is trading just barely below $23,000.
Analysts, including leadership in other leading cryptocurrencies, see Bitcoin as being on a path to resurgence. They believe the crypto king is fundamentally strong and of value despite the effect that some macroeconomic factors might have on it. As such, holding on to Bitcoin could result in wealth.
The struggling state of the economy is pushing people to think beyond traditional investment options. With cryptocurrency at the helm, prospective investors could still generate millions, especially with Uniglo, Avalanche, and Bitcoin.