Against the backdrop of growing discussions about the regulation of cryptocurrencies in the Russian Federation, it is worth thinking about investing in green coins. Those that require a minimum of energy consumption during mining.
Cryptocurrencies that are mined on HDD are becoming more and more popular not only among miners and crypto enthusiasts but also among long-term investors. The top 3 most environmentally friendly and undervalued cryptocurrencies, according to hi-tech.mail.ru experts, are Chia (XCH), Signum (SIGNA) and Chives (CXC).
For investments in these altcoins, there are at least two fundamentally significant reasons to expect further growth in demand and value. Firstly, it is environmental friendliness, and secondly, it is high manufacturability, at least not inferior, and in some cases even ahead of bitcoin and Ethereum technologies. In addition, the current crypto market correction creates good entry points for long-term investments.
Andy Hecht, investment analyst at ETF Daily News notes that “In 2022, the growing segment of digital assets is likely to be very sensitive to environmental issues. Bitcoin mining, for example, is characterized by high energy costs. We can reasonably expect that in the coming months and years this asset class (combining over 16,100 different tokens) will move to a greener path.”
Among others, 3 eco-friendly altcoins got into the TOP, which is worth taking a closer look at as the most promising for investments in February.
For example, Chia uses only 0.16% of Bitcoin’s annual energy consumption. The project has an eminent development team, a solid rear of investors, and promising partnerships. Now the coin is clearly oversold, and its current price is below its potential. However, partnerships concluded with the World Bank and the government of the state of Costa Rica are likely to spur its growth.
SIGNA (formerly Burst) is perhaps the most undervalued cryptocurrency among the trio. Mining Signa requires less than 0.002% of the energy required by Bitcoin. It was the first cryptocurrency to be mined on HDD since 2014. In 2021, a new development team took over the development and promotion of the project. Already by February 6, the Signum team announced the release of a platform for creating NFTs. Also in February, an already signed listing on the Top Exchange is expected, the details of the transaction have not yet been disclosed.
The Chinese team is actively developing a platform for creating CAT standard tokens, which will allow anyone to create their own tokens, even without programming knowledge. It also prepares its own NFT projects for release. And the Chives network has less difficult mining compared to Chia. The power consumption of Chives is the same as that of Chia.
I want to remind you that this review is not a trading recommendation, and investing in cryptocurrencies is risky, so do not forget about portfolio diversification, do not use leverage and do not go short.