Cryptocurrency as an asset class is now known and despite the steep fall witnessed in the largest crypto by market capitalization of late and their intrinsic quality of being highly volatile, investors are taking on to cryptos for whopping returns.
So, here we discuss the top 5 cryptos that have yielded the highest returns in an year's time:
1. Telcoin (TEL):
This is another crypto i.e. a Ethereum token created for the mobile telecom industry for offering pre-paid credit as well as billing for global mobile networks. The uniqueness of the crypto is that it was the first telecom focused crypto
Initially the Telcoin crypto aimed to capitalize on the widescale reach of mobile networks and integrate that with the fast, secure and borderless nature of blockchain.
2. Dogecoin (DOGE):
This crypto has its origin from the Shiba Inu doge meme and came into existence in 2013. The use case of the crypto with doge meme as its logo is as a means of tipping as also for carrying out similar micro-transactions.
Use cases of Dogecoin:
Thus Dogecoin can be used to transmit value to anywhere anytime. Further as transactions via dogecoin are cheap as well as fast, it is widely in use for smaller transactions. Other uses of crypto are moving sum between exchanges as well as speculative trading, or just HODLing.
The cryptocurency Dogecoin has gained immense favour and in fact investors are ready to spend their Bitcoin or any other asset for that matter to get Dogecoin.
3. Pirate Chain (ARRR):
Pirate Chain is a blockchain linked project aims to aims to ingegrate the best of Zcash and Monero. It is said to be the most anonymous cryptocurrency, a truly centralized, decentralized blockchain. The privacy protocol put in use by the crypto cannot be compromised by other users activity on the network. It is further said to make use of ZK-Snarks for protecting peer to peer transactions on the blockchain resulting in highly anonymous as well as private transactions.
4. Polygon (MATIC):
It is an India originated cryptocurrency and has outperformed other major cryptos. The crypto was earlier referred as Matic Network and is a layer 2 scaling solution for Ethereum that looks to offer major scalability improvements for decentralized apps by utilizing a modified version of Plasma with sidechains based on Proof of Stake.
The Polygon typically looks to address some of the issues such as heavy fees, poor user experience and low transactions per second (TPS). Further it works to create a multi-chain ecosystem of ethereum compatible blockchains. With the distinct blockchains the Polygon crypto looks to freely exchange information as well as value.
5. Helium (HNT):
This is a decentralized blockchain backed network for IoT devices. The mainnet introduced in the year 2019 enables low-powered wireless devices to send data across its network of nodes as well as interact with each other. Hence users who run nodes mine and earn rewards as Helium's token.
The prime objective of this Helium crypto is to prepare IoT communication for the future course as well as to identify insufficiencies in current infrastructure.
The crypto Helium last quoted at $11.12 and in the last 1-year the returns have been to the tune of 1,23,095%. The crypto commands a market cap of $1,025, 766.
Top 5 Cryptocurrency By % Gains In The Last One Year
|Cryptocurrency||Symbol||Price||M-Cap||YTD gains||1 year Gains||All time high|
|Pirate Chain||ARRR||$2.11||$392.13 million||972%||4217%||$16.62|
Should You Invest In Cryptocurrency for such whopping gains?
As we saw in the article Telcoin crypto produced gains of 6494% in a year's time. So, should we put our hard-earned money for gains of such scale, here are some good reasons as to why you should consider crypto investment.
There are various ifs and buts attached to crypto investment and after energy concerns being surfacing again, there have been worked on ways through which cryptocurrencies shall be rendered more environmental friendly. Further their mainstream acceptance by institutional players is giving this asset class a lot of favour and price appreciation in general.
So, the risk and volatility are intrinsic to bitcoin, yet investors are seeing the rewards from these cryptocurrencies to outweigh risk.