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Almost all cryptos are shady in some way. Unfortunately, that’s just how the crypto market works. However, you can still make money investing in many crypto projects if you make smart decisions and manage to get in at the right time.
However, it is also true that it is generally better to avoid certain cryptos altogether. Many cryptos have ongoing tokenomics issues or lack utility, which could create more hype. These cryptos are unlikely to deliver solid returns even if you hold them for years. And even if they do rise at the end of the day, you’ll likely end up with profits that lag those of the broader crypto market.
Here are three such cryptos for sale that I would definitely put in this bucket.
Worldcoin (WLD-USD)
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World coin (WLD-USD) is a project founded by Sam Altman OpenAI. Accordingly, it’s a project that definitely has the kind of branding and exposure behind it that many investors want. Sam Altman wants to check everyone’s eyes and give WLD to the world as a reward, thus creating a global currency. Worldcoin’s mission is to provide a universal basic income system for people once AI systems take over.
Personally, I don’t believe that AI systems will ever become indistinguishable from humans in the physical world. Furthermore, I don’t think this project makes much sense either. Any UBI system will likely come from the government and not from a crypto project without any funding from anywhere. Also, people with a much better trader base can access many crypto projects. Bitcoin (BTC USD) is already a global currency that you can use. Worldcoin’s eye scanning technology makes it much more difficult and cumbersome to use, and in most parts of the world the technology to claim free WLD tokens is not available.
I would not recommend buying this cryptocurrency as there is likely to be huge inflation in the future. Worldcoin is designed to be distributed to 10 billion people and has a Maximum supply of 10 billion Tokens. The current supply is 240 million WLD. So if a dystopian AI world becomes a reality, any investment you make now will likely be diluted into pennies anyway.
Cardano (ADA-USD)
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This could be a controversial choice. However, I think you’re better off selling Cardano (ADA USD). It is one of the most popular Layer 1 cryptos on the market, but the entire ecosystem has been dry for many years. Sure, many investors would argue that there’s a lot happening on the backend, but that’s nothing compared to the ongoing development ether (ETH-USD) And Solana (SOL USD). Most other Layer 1 cryptos have a lot more to offer in their ecosystems while Cardano sleeps.
Cardano has also failed to implement its Africa strategy. I think this ploy was more of a marketing plan than anything concrete. I doubt anyone on the Cardano team has ever set foot in Africa, and the whole thing fizzled out, as did Cardano’s Africa website.
With that in mind, I think you’ll see a lot more buzz and upside if you buy Solana or Ethereum instead. Even avalanche (AVAX-USD) has more buzz these days.
Gala (GALA-USD)
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Gala (GALA USD) is a blockchain gaming cryptocurrency. This cryptocurrency has been slowly dying since the last bull market cycle and I think this is a token that is unlikely to see a surge any time soon. The entire crypto play-to-earn sector has been silenced this time, and any gaming projects gaining traction are new or have better tokenomics than Gala.
Blockchain metaverse projects in general have continued to decline while the rest of the market has risen. There are very few players in these Metaverse games, so I think it’s not worth investing in this token at all.
In fact, my biggest problem here is that Gala has a very high inflation rate. The projects Current supply inflation is almost 45%. Inflation was 210% last year and I believe any increase in player count will only lead to more inflation as more tokens are minted to reward users. You’re better off getting off the ship.
At the time of publication, Omor Ibne Ehsan did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publication policies.