FULL DISCLOSURE:
I am not a financial advisor. This post is to provide information and not provide financial product advice. I discuss why I personally chose to invest in a stock, ETF, REIT, investment fund or cryptocurrency (which I have held for over a week) and also share information that is public about the following stock, ETF, REIT, investment fund or cryptocurrency and they are based on my own personal opinion.
I will not blog about any positions of stocks, ETFs or REITS and cryptocurrency which were initiated just within the last 72 hours of posting this blog article.
It is recommended that you should always consider visiting a financial advisor for independent financial advice before making investment decisions.
I do not work in the financial industry, so just because I write about it, doesn’t mean you should own it. So, consult with a financial advisor and do your due diligence, RESEARCH!
I am not receiving compensation by the company for this blog post.
I have no working relationship with any company whose stock, ETF, REIT or cryptocurrency mentioned in this blog post. Nor do I have a family member or friend who works with the company.
For today’s blog post, I am focusing on Ankr (ANKR).
Ankr (ANKR) is an Ethereum token that powers Ankr, a Web3 infrastructure and cross-chain staking DeFi platform that aims to increase efficiency in blockchain ecosystems by building dApps, hosting nodes or staking.
The ANKR token can be used to pay for services on the Ankr platform, such as node deployment and API services, participate in on-chain governance and also acts as an insurance for network participants.
Ankr uses idle computing resources in data centers to help developers and enterprise clients to quickly deploy blockchain nodes at a lower cost than public cloud providers
A friend told me about this cryptocurrency probably about two years ago but the thought of having to log into another exchange via VPN or how difficult it was to purchase, I decided to pass until it was listed on major exchanges this year.
While my friend was able to jump in early when the speculative coin was cheap, I got in when it was over .10 a coin.
But still, that is enough for me to give it a chance and invest in it. Especially as “Capital” named it along with Maker, Compoundm Uniswap, Aave and Chainlink as some of the DeFi “Coins to Watch” in 2021.
For those not familiar with DeFi (Decentralized Finance), it’s a blockchain form that does not rely on exchanges or banks to offer traditional financial instruments and utilizes smart contracts on blockchains, the most common is Ethereum. DeFi platforms allow people to lend or borrow funds form others, speculate on price movements on a range of assets using derivatives, trade cryptocurrencies, insure against risks and earn interest in savings-like accounts.
As I have done with Bitcoin, Ethereum, Litecoin, Bitcoin Cash and many other coins, invest while it’s cheap and reap the benefits if it does go up years from now.
Sure, you need diamond hands because of the volatility of cryptocurrency but you have to stay the course (wish I did with Dogecoin, which I invested in thousands of coins at .0002 and sold a majority of it when it hit .09 and who knew it would go over .70 a few months later).
Currently, ankr is .14 and in April it went up as high as .19 but it seems more of a long term investment that you just have to wait and see if anything happens.
It has a market cap of $952 million and a circulating supply of 7.0 billion ankr coins.
While I do like the Ankr community and how they support the cryptocurrency on social media, their voices can also be deflating when people compare it to other speculative coins that gain ground and people talk about being a millionaire.
While Ankr Eth2 staking services can be found on Uniswap, Trust Wallet, Metamask, SushiSwap and many more, by staking as little as 0.5 ETH, it will create a synthetic asset called aETH, which users can use or trade or participate in DeFi.
You can stake nodes on ANKR’s Project Site:
So, do you want to stay with ANKR or stake for aETH?
According to ANKR:
ANKR
ANKR is the native governance token of the Ankr and Ankr Staking platforms. It can be used as a payment method for services, such as node deployment and app usage, and also acts as an incentive for network participants, who receive ANKR for different activities and reputation. By holding large amounts of ANKR tokens, users can participate in governance across the platform.
aETH
aETH is a reward bearing bond asset that enables instant liquidity for the Ethereum 2.0 network.
Essentially, aETH represents the ETH staked via Beaconchain nodes, plus all future staking rewards.
At the beginning, aETH is issued at an approximate ratio of 1:1 to the amount of ETH staked. aETH is then expected
to grow in ETH value over time, as it contains both the principle stake plus staking rewards — which makes it a great asset for those who believe in Ethereum in the longer term.
Personally, I will say that I do have high conviction towards Ankr and its potential. So, it’s in my top 10 cryptocurrency that I do invest in (and I invest in quite a bit). But it’s one that tends to fluctuate between .10 and .20, while I have seen it stay within .15. But it does fluctuate lower and higher at times.
Don’t expect this token to be a “get rich quick” cryptocurrency but know what Ankr can offer and its potential. And because of its pricepoint, it’s affordable if you want to dabble with cryptocurrency and want to diversify into a coin that has DeFi potential.
Again, there are many other competitors in DeFi but when it comes to price, Ankr is among the cheapest DeFi tokents to own at this current time, a token that is active for developing purposes and one with a lot of potential for growth and for me, it’s worth owning long term.
As always, perform due diligence and do a lot of research before investing and find out if ANKR is a perfect investment for you.
