There is a lot you can do with $1000. But what if you could put it in a crypto asset and see it grow 10x, 50x, or even 100x. We have seen this happen in the crypto market so many times. But it all comes down to choosing the right coin. Here is a list of important considerations.
The coin you buy should be relatively new in the market but with decent underlying fundamentals.
But if it's not new, focus on assets that have recently dipped in their price for a good return.
These also need to be tokens that still have lower market caps so there is room for growth.
Well, in case you have $1000 to invest, the following crypto-assets should offer decent returns in the long run.
1. Dogecoin (DOGE)
One thing we know about meme coins is that they can be wild. Although this makes them risky, it also means that the potential to make decent returns is very high.
Data Source: Tradingview
Right now, most meme coins, including DOGE, have bottomed and as such, you can buy the dips and ride the upward recovery. At the time of writing, DOGE was trading at $0.1584.
Want to learn how to safely invest in Dogecoin? Check out our comprehensive Dogecoin buying guide here or purchase from our recommended platform below!
2. Hex (HEX)
Hex (HEX) is an ERC20 token designed to act as a store of value for people who want to invest in crypto. During periods of market volatility and uncertainty, these types of coins can be quite invaluable. What makes HEX such a great option is the fact that it has a market cap of around $37 million. This means that it can actually moon in no time.
3. Osmosis (OSMO)
Osmosis (OSMO) is a peer-to-peer network built on Cosmos. It is designed to allow users to exchange IBC enabled tokens and provide liquidity for on-chain and off-chain transactions. At press time, its native token OSMO was trading at around $9.13 with a market cap of $2.6 billion.