Investors planning to buy cryptocurrencies to hold for the long or short term should consider many factors. FTX Token (FTT), ApeCoin (APE), and Logarithmic Finance (LOG) are good projects to consider.
What is a Crypto Shopping List?
A cryptocurrency shopping list is a list of cryptocurrencies that you may consider buying right away or in the future. It is like a regular shopping list except that you are shopping for cryptocurrencies.
Many factors come into play when shopping for cryptocurrencies. It depends on:
- How long do you want to hold the cryptocurrency?
- Risk appetite - are you a big risk-taker?
- Capital at hand
- Financial goals
- How well do you know the cryptocurrencies or subsectors
- The state of the market
Having a shopping list is a way of making sure that you don’t buy cryptocurrencies on impulse. In everyday life, some people go to grocery stores and pick up whatever they see on shelves even though they don’t need it. This could ruin them financially.
This is the same thing with investing. You don’t need to pick any token that you see but need to do due diligence first. Watch these projects and buy them when you think the market conditions are in your favour. In most cases, it is difficult if not impossible to time the bottom. The best solution could be buying small amounts of cryptocurrency periodically.
One also has to consider the project they want to buy. This is no longer 2017 when investors picked any project that integrated the word ‘blockchain’ in its marketing material. You need to look into solid projects with real purpose. These are the kind of projects that could survive bear projects and you can confidently hold for a long time.
The projects listed below have what it takes to be included in your cryptocurrency shopping list.
Logarithmic Finance (LOG)
Logarithmic Finance (LOG) is a non-custodial and cross-chain environment that allows founders and creators to raise money from investors. It is a layer-III swapping protocol and the native LOG token powers the Logarithmic Finance ecosystem.
The LOG governance token offers holders several benefits. Logarithmic Finance holders receive special discounts when they buy tokens during their presale or other fundraising campaigns. This happens via a simple process.
Innovators create pools where they list their tokens and presale parameters. Investors go through the pools to find tokens they want to invest in. LOG token holders get a discount.
LOG token holders have governance rights. The project will launch LogDAO and token holders will be members of it. LogDAO will allow LOG governance token holders the right to vote on protocol changes.
Holders can also earn income through staking. The layer-III swapping protocol Logarithmic Finance is in the presale stage and investors who buy their LOG tokens will have more influence on the ecosystem’s future.
The Logarithmic Finance ecosystem will have a fixed supply of 4 billion LOG tokens but only 1.2 billion LOG tokens will be sold during the presale.
Investors who buy LOG tokens during this bearish cycle have the potential to see the token’s price reach its peak in a couple of months or years.
FTX Token, FTT, is the native currency of the FTX ecosystem. FTX is one of the fastest-growing exchanges in the world. FTX has raised about $1.8 billion in at least 7 rounds of funding. FTX is a trusted exchange and this benefits its FTT token. The exchange’s users can buy the FTT token to get discounts on trading fees.
ApeCoin is a popular token affiliated with the wildly successful Bored Ape Yacht Club NFT collection. The ApeCoin token enjoyed a great run after its launch. It has cooled off although it has the potential to reach its previous all-time high.
More info on LOG: