The 7 Best Cryptos to Buy to Make You a Millionaire
InvestorPlace - Stock Market News, Stock Advice & Trading Tips These cryptos have seen daily price actions that would bring the FOMO out in any investor. While volatile, they offer...
Cryptos have a world of their own. I have been keeping a close watch on the “large movers” page on CoinGecko for few weeks and I’ve noticed it’s not unusual to see coins surge by over 1,000% in a single day. There are even a few cryptos that surge by a few thousand percent within 24 hours. This seems like a crazy world of money making.
Bitcoin (CCC:BTC-USD) is on the move, which will likely hoist the crypto market to new all-time highs. Altcoin season is likely to follow. For several altcoins, that season is already underway. It seems like a good time to consider some exposure to various meme coins. These coins have been hot trades in the last few weeks.
At the same time, there are some interesting non-meme coins that have a limited supply and good use cases. This column will primarily focus on cryptos that seem to be working on some real use cases globally. I believe that cryptos discussed have the potential to deliver multi-fold returns in quick time.
Let’s talk about seven cryptos that can make you a millionaire.
- Vulcan Forged (CCC:PYR-USD)
- Internet of Energy Network (CCC:IOEN-USD)
- Moss Carbon Credit (CCC:MCO2-USD)
- WazirX (CCC:WRX-USD)
- Centric Swap (CCC:CNS-USD)
- Dogecoin (CCC:DOGE-USD)
- Travala.com (CCC:AVA-USD)
Cryptos to Make You a Millionaire: Vulcan Forged (PYR)
The global gaming industry value is over $300 billion with 2.7 billion people globally. Considering the big market size, decentralized gaming has seen the entry of several new players. Vulcan Forged seems interesting in the gaming segment.
PYR coin has surged by over 200% in the last one-month. However, there seems to be more upside potential.
It’s worth noting that PYR coin has a limited supply of 50 million coins. That’s one reason to be bullish if Vulcan Forged games gain traction. This already seems to be the case. Vulcan’s first-ever gaming decentralized exchange volume reached $1 million in 24 hours.
Vulcan believes that “50% of all circulating tokens will be utilized by users for game participation and locked-up at any given point in time.” Currently, Vulcan Forged claims to have 30,000 users and eight games.
Overall, I would not be surprised if PYR coin surges ten-fold from current levels of $8.68. The token’s economics is attractive and the gaming market is getting bigger.
Internet of Energy Network (IOEN)
IOEN coin is a relatively new listing. However, the token seems attractive with a focus on clean energy. Currently, IOEN coin trades at 17 cents. The supply of coins is limited to 110 million.
Initially, Internet of Energy Network is offering staking for six months at an APY of 50%. This looks very attractive and a significant number of tokens are likely to be locked-up in the initial months. With a tight demand-supply scenario, IOEN can surge higher.
It also seems that Internet of Energy Network has a strong use case. The idea of IOEN is to enable “homes anywhere to function together as an intelligent, cooperative electricity system.”
Homes will therefore be connected as a virtual energy micro grid and various household appliances will be connected within the mini-grid network.
IOEN further believes that this will help in creation of a “secure, reliable, and scalable minigrid that unlocks the opportunity for more renewable energy within the local network.”
Adam Bumpus, the company’s executive director and co-founder, has 20-years of experience in climate technology. Adam also has a doctorate in carbon finance from Oxford. This adds to the credibility of the project.
Once IOEN can develop few partnerships and provide a live demonstration of the potential use case, IOEN coin is likely to surge higher. I would not be surprised if the coin is a ten-bagger in the next few quarters.
Cryptos to Make You a Millionaire: Moss Carbon Credit (MCO2)
With increasing environmental concerns, carbon credit has gained importance in the recent past. The MCO2 token claims to be the first global carbon credit token.
The objective of Moss Carbon is to obtain carbon credits from certified environmental projects and turns them into tokens.
Through the purchase of these tokens MOSS customers have already contributed $10 million in eight months to Amazon rainforest conservation projects.
It’s also worth noting that MCO2 has a total supply of just 1.93 million tokens. Cost is the differentiating factor for MCO2. Carbon credits through Moss Carbon cost up to 50% less than the same credits sold in the United States or European Union.
Overall, as the demand for carbon credit increases, the retail price is also likely to trend higher. Companies might prefer buying carbon credit on blockchain at a lower price. MCO2 token therefore seems to have a bright future.
WazirX is India’s largest cryptocurrency exchange. Currently, WRX coin trades at $1.30. However, the coin touched highs of $4 in April 2021.
I believe that WRX coin is likely to make new highs in the coming quarters. There are two important reasons.
First and foremost, India already has the highest number of crypto owners in the world. With increasing access to internet and smartphones, it’s likely that the number will continue to grow.
Furthermore, a cryptocurrency bill is on the cards. It seems likely that cryptocurrencies will be legalized and treated as commodities. The bill is also likely to provide more clarity on cryptocurrency taxation.
I believe that the bill will be a big trigger for WRX coin surging to new highs. Once there is clarity in terms of government regulations, crypto adoption is likely to gain further traction. Therefore, some exposure to WRX coin makes sense.
Cryptos to Make You a Millionaire: Centric Swap (CNS)
In the last two-weeks, CNS coin has skyrocketed by over 800%. However, on a 12-month basis, CNS coin is higher by 250%. I believe that the coin can do another 10x from current levels.
It’s worth noting that the recent surge in CNS coin has been backed by news on partnerships. Recently, Centric partnered with Tourvest Travel Services to offer corporate clients and associated businesses the opportunity to transact with Centric tokens.
In another similar partnership, Absolute World will be offering its clients the opportunity to make payments in Centric Swap. With these partnerships, Centric Swap intends to make CNS coin more usable globally.
As mentioned earlier, the announcements have already been a catalyst for a big rally. However, Centric Swap has mentioned that bigger announcements are lined-up for Q4 2021. It seems likely that the rally will sustain for CNS coin.
Another important point to note is that CNS coin can be converted to Centric Rise. This will enable investors to earn passive income, which is likely to be around 361% on an annual basis.
A discussion on cryptos would be incomplete without talking about meme tokens. After the surge in DOGE coin, there has been a flurry of meme coins in the market. However, investors need to be cautious as most meme coins exist to disappoint.
It’s worth noting that Dogecoin touched a high of 73 cents in May 2021. A sharp correction ensued, with the coin currently trading at 24 cents.
Recent tweets from Elon Musk indicate that another pump might be on the way for Dogecoin. If Dogecoin does manage to break previous highs in the current rally, $1 seems likely.
Of course, Shiba (CCC:SHIB-USD) looks good for further rally. However, Dogecoin is likely to remain the Bitcoin of meme coins. In August 2021, it was reported that Dogecoin ownership has reached record levels with four million DOGE holders.
Cryptos to Make You a Millionaire: Travala.com (AVA)
The travel and tourism industry was among the worst impacted due to the Covid-19 pandemic. However, with vaccinations being administered globally, countries are gradually opening-up borders. Further, there is significant pent-up demand.
These factors make AVA coin worth considering at current levels of $3.01. Travala.com is a cryptocurrency friendly accommodation booking platform. Currently, the company has 2,200,000 listed hotels and accommodations globally.
The platform allows travellers to pay for stay anywhere in the world through cryptocurrency. Currently, Travala.com allows payments through more than 30 cryptocurrencies.
It goes without saying that as the adoption of cryptocurrency increases, Travela.com is positioned for big gains. It’s also worth noting that AVA coin has a limited total supply of 61.2 million coins. It would not be surprising if the coin surges ten-folds in the next few quarters.
On the date of publication, Faisal Humayun held a LONG position in IOEN. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modelling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.
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