Would you like to buy some cryptocurrencies for Christmas? Would you like them to be a nice present for yourself or maybe for one of your friends or a family member? Which cryptocurrencies should you buy? Have you heard about OlympusDAO (OHM)? Have you heard about all the so-called descendants of OlympusDAO, all promising you quick wealth? Are they legit? Which one should you buy? In this article, I will share my thoughts and recommendations.
Before you continue, this is not financial advice. These are my simple thoughts based on what I have seen, experienced, and read about the different cryptocurrencies and their teams and developers. You should never follow my advice blindly, but do hours of research on your own and make a decision based on that. All I am saying is that if I had $4000 that I wanted to invest in four cryptocurrencies in December 2021, these would most likely be the ones I would pick.
I would also like to mention that cryptocurrencies are very volatile and it is very risky to invest money in cryptocurrencies. Never invest more than you can afford to lose. I should also mention that the cryptocurrencies I will mention in this article are much more volatile than more famous cryptocurrencies like Bitcoin, Ethereum, and Ripple, but that is also the reason why they are much more likely to give you a quick profit.
This article is written with a short-term perspective, but it might make you rich long-term as well!
First of all, I am writing this article with a short-term perspective. It might be that this will be advice that will be amazing in 2022 as well, but things change so rapidly, that I really have no clue about what to recommend for 2022. Things might change, and if you want a safer investment, I would most likely recommend Etherem, Ripple, Bitcoin, and maybe Verasity. But, if you want to have the chance of quick and big profit, these investments might actually help you achieve that.
OlympusDAO is the name of a cryptocurrency that was launched during the spring of 2021. It is a cryptocurrency that is backed by money in a treasury, thus guaranteeing that the price of the token should never fall below a certain level. You can compare it to a stablecoin like USDT or USDC or DAI, except that the price isn’t stuck to the Dollar, but instead to the value of the coins in the treasury. As a result, there is at all times a certain level to which the price of the coin might fall, but no further. It might sound complicated, but it isn’t!
Currently, the price of OlympusDAO (OHM) and all of the descendants (often referred to as FORKS) is way higher than the backed value of the token. To make up for the difference, you are able to stake/store your tokens on the platform(s) and receive quite incredible interest rates while doing so. That is why many people love these platforms, simply because they give you a fantastic interest on your investment.
But, there are new FORKS showing up every single day (almost) and some of them disappear quickly will the money of the investors. In other words, you need to be very careful and do a lot of research before you actually invest, because many of these platforms are simply trying to steal your money. So, where should you invest? What makes the platforms I recommend “safer” than the rest?
Once again, I wrote that this article is written with a short-term perspective, simply because it might be able to double your number of tokens and value in less than 30 days (if the market agrees). However, if everything goes according to plan and you keep your tokens and let them work on the different platforms, you might easily see that the value of your investment will grow 10x-20x-30x by the end of 2022. Time will show!
The four best cryptocurrencies to buy for quick profit in December 2021
It is time to get started. Here you will find the four cryptocurrencies I believe will give you the best returns in 2021. Once again, this is not financial advice, just my thoughts on the matter.
Wonderland ($TIME) on Avalanche
Wonderland is the most famous descendant of OlympusDAO. While OlympusDAO is running on the Ethereum blockchain, Wonderland is operating on the Avalanche blockchain and that is probably one of the main reasons that even more people are actually active with Wonderland than with OlympusDAO at the moment. It is much cheaper to do transactions on Avalanche and it is also quicker and easier (if you first get started).
One of the reasons why I recommend Wonderland is that they have a very high APY, and they have been around for a longer time than most other OHM-forks. They also have a visible leader (known by name), something that makes it different from all the other projects. Not only do they have a visible leader, but they also have developers continuously working with the platforms, thus growing it and adding functions, and making it better and better day by day.
If you buy Time tokens, you can add them to the Wonderland website. Currently, there is an 88,000% APY at the website, but this is expected to decrease as time flies. Three times a day you will receive a reward, and currently, the reward is 0,62% of your total investment. In other words, you will receive more than 1,8% of your total investment back every single day. And this is compounding interest, meaning that the interest you receive today will be used to earn even higher interest tomorrow. And that is how you can end up with a total interest of more than 88,000% in one year.
You can remove your funds at any time, meaning that if you buy on December 1st, you can easily withdraw your tokens and sell them and use your money to buy Christmas presents on December 23rd.
- Would you like to learn more about Wonderland? You can find out more in this article.
- Visit the Wonderland website.
OlympusDAO ($OHM) on Ethereum
I wouldn’t be entirely fair if I didn’t recommend OlympusDAO in this article. They have a “very low” APY compared to all the forks (only 7000%), but this is the mother of them all, and they have the biggest group of developers and lots of partnerships. This might not explode in value, but if you want an investment that for sure will stand the test of time, I believe OlympusDAO is the one to choose.
It should be mentioned that OlympusDAO is running on Ethereum, a very slow and expensive blockchain at the moment. That is also why more and more people have moved from OlympusDAO and invested in other projects like Wonderland instead. But, personally, I would never forget about the original, simply because the big brains are active here, and they have a fantastic community.
With the current rewards, you should approximately increase your number of tokens by 45% in 30 days, and by 100% in sixty days. That might seem slow compared to Wonderland and other similar projects, but even though that might sound slow, don’t forget that you “enjoy” an annual interest of less than 1% in your bank. In other words, it feels strange to complain about a 45% interest in 30 days!
HectorDAO ($HEC) on Fantom
HectorDAO is a quite new project, but they have entered with style and they have impressed me greatly (so far). What makes HectorDAO differ from many of the other projects is that they haven’t only copied the OlympusDAO code (which is freely available on GitHub), but they have developers working hard on developing it further. As a result, HectorDAO has added functions to their platform which cannot be found on the OlympusDAO website, nor on the Wonderland website. The biggest development is the “4,4 Bonding”, which makes it even easier to buy the tokens at a discounted price and enjoy the “staking-rewards” from the first minute, even though you haven’t actually received your tokens yet. If you want to read more about what 4,4 is about and more about HectorDAO in general, click the link.
HectorDAO is currently operating with an APY of 500,000%. Above you can see a simple calculation using the HectorDAO calculator, showing that an initial investment of 1 HEC will automatically turn into 2 within 30 days. And this will work like a snowball, just getting bigger and bigger the longer you stake. Of course, the price of the HEC token is expected to drop, but with such interest rates, you will still be in big profit, even as the price will continue to drop.
Why do I recommend HectorDAO? My answer is simply that it is the general feeling I get when I read about the project and follow the work done by the developers of the platform. This is VERY FAR from those projects just copying the OlympusDAO code and that’s it. Here they are working hard at making this the best platform on the Fantom blockchain, and they have several other functions coming in addition, in order to make HectorDAO even better. This has also been embraced by the community which should be considered very positive as well.
Euphoria ($WAGMI) on Harmony
The last project that I would like to recommend is Euphoria and their token WAGMI. This project is running on the Harmony blockchain, a very fast and very cheap blockchain as well. It might feel complicated at first, but if you know how it can be done, it is very easy to purchase WAGMI tokens and to earn interest with them on the Euphoria platform.
This is the platform currently running with the highest APY of the four projects I have recommended in this article. But, to be honest, I don’t care much about APY if I do not trust the team behind the platform. This might be the one I trust the least of the four mentioned in this article, but I still find this to be way better than all the other descendants of OHM out there.
What speaks in favor of Euphoria? It is quite simple. They are having a vibrant community and the platform is operated by VenomDAO, the people also running the Viper Exchange on the Harmony One blockchain. In other words, this is a real team with real experience, and they are not just running this from their basement who knows where in the world. And to be honest, this is the fact that gives me that needed level of trust in order to invest in the platform.
These are my recommendations. What do you think?
These are my recommendations as of now. What do you think? Do you agree with me? Would you have added some other projects instead of the four I have listed?
I should also add that in a bull market, I believe all these will fly like eagles and all investors will enjoy the ride. If the entire crypto market should go bearish (that means, people rather sell than buy), then the price of these tokens will all drop. But, considering the high APY, I believe most investors will still end up performing better with their investments in OHM, TIME, WAGMI, and HEC, than they would have done investing in XRP, LTC, BTC, and ETH.
But, these are just my thoughts. What do you think? Do you have any comments or questions? I would love to hear from you!