1 Cryptocurrency I will buy now

As the cryptocurrency market bounced back from the sudden cold of last winter, one name struck me as a good investment for the long run. In fact, I’m very happy Polkadot (DOT -6.16%) and his thoughts on the future I doubled my position last week.

Let’s see why I’m putting real money into this promised but difficult cryptocurrency right now.

What is Polkadot?

In simple words, Polkadot helps other cryptocurrencies work together. By combining unique currency pairs and blockchain systems, the Polkadot platform brings the best features of each currency offering. As a result, developers can rely on Polkadot to build powerful applications that are not possible in any other way.

for instance, Bitcoin (BTC -4.06%) an efficient system of long -term asset management a Ethereum (ETH -6.82%) run decentralized computer code in the form of smart contracts. Filecoin (FIL -4.46%) provides a blockchain system for storing files without the need for centralized servers. Creating a single cryptocurrency that supports all of these processes will be extremely difficult. Polkadot allows you to build a decentralized application that displays these unique features in a single package.

That’s why I believe Polkadot will play a big role in the future of the internet. This package will also hold the entire cryptocurrency ecosystem. This is not surprising, since Polkadot was developed as a platform for a new web application called Web3.

Why choose just one? Image source: Getty Images.

Investing in Polkadot today will allow you to directly benefit from the Web3 transition. That’s a big deal, and the basic building blocks of the Web3 building will become house names in the years to come.

It’s more of that, of course. Part of Polkadot’s power lies in the system’s new system, which allows so -called parachains to add more functions over time. As parachains are integrated into the larger Polkadot engine, the process itself will provide funding for each new parachain development team – and that’s another big benefit. I can only glean the skin of Polkadot’s complex and dynamic setup today, but I’ve talked about the support ecosystem of the system and the power of parachains in other articles.

Available at a low price

With a market cap of $ 22 billion, Polkadot is the 11th-largest cryptocurrency on the market today. That’s an honorable position, but it’s only 1% of the overall market share. A parent Polkadot should be considered for a much larger segment of a growing crypto market.

In addition, the market has withdrawn from cryptocurrencies and other potentially vulnerable cryptocurrencies in the past six months. Polkadot has eliminated that kind of threat, and the cryptocurrency is now trading 59% below its 52 -week highs in November.

Polkadot Price List

Polkadot Price data and YCharts

Doing it in advance does not guarantee future returns, of course. Cryptocurrencies have fallen sharply in recent months, but most of them can’t match Polkadot’s well -lit approach to the widespread use of real -world platforms. The combination of the best business ideas and great bargains led me to Polkadot’s “buy” button.

So not only is Polkadot a big investment about his use of the real world and his free trade, but money is selling fire right now. And I’m not just talking. Doubling is a low point – I checked my Polkadot position last Wednesday and can add more to these funds if the reduction is too long.

Anders Bylund has Bitcoin, Ethereum, and Polkadot. Motley Fool owns and promotes Bitcoin and Ethereum. Motley Fool has an advertising policy.

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