Are These the 3 Best Cryptocurrencies to Invest in for Better Returns in August 2021?

The cryptocurrency market is in positive territory post Ethereum's London Fork update and Bitcoin is leading the chain after rising close to 30% since the end of July.

Bitcoin is keeping up with the positive momentum rewarding investors with hefty returns and so are the other coins, which have jumped close to 30 percent and above over the past week.

Cryptocurrency Coins Tokens
Representational image / Pixabay

1. PolkaDot (DOT)

PolkaDot recently deployed six 'parachains' to its network and the coin rallied between July 20 and August 8, climbing close to 50% in just three weeks.

The coin has witnessed a resurgence in buyers and its co-founder, Rob Habermeier, explained during an interview with The Scoop that '''parachain season is just beginning,'' and its rise is still in the early stages, hinting at the underlying strength the coin possesses.

PolkaDot Cryptocurrency Coin Token
Wikipedia / PolkaDot

PolkaDot has high volatility rate and gives investors enough freedom and space to decide when to pull out their investments and doesn't trade on razor-edge margins.

The coin at the time of publishing was trading at $19 and is down -5.54% in the days trade and its best to pick it up during the dip.

However, when the upside swing is tremendous owing to the volatility, investors need to note that the it also bears the risk of nosediving, which be equally dangerous and thus need keep an eye on the trade during 'day trading'.

2. ChainLink (LINK)

ChainLink is an innovative token that revolutionized the way of transferring money seamlessly and has contracts with a chain of networks such as banks, APIs, retail payment, among others. The coin holds immense potential and solves problems facing in the financial world.

The coin is showing bullish sentiments and now is the best time to invest for quick returns, as the entire crypto market is northbound.

ChainLink Cryptocurrency Coin Token
Twitter / ChainLink

LINK is much higher in volatility rates and sometime even climbs between $3 to $5 per day, giving investors enough time to pull out at the right moment and book profits.

However, the downside can be equally dangerous and it's advised to keep a stop loss to avoid any damage. The coin at the time of publishing was trading at $22 and is down -8.77 in the days trade and now is the right time to purchase during the dip.

3. Ethereum

Ethereum Blockchain Cryptocurrency
Ethereum / Pixabay

After spiraling downwards since May, Ethereum is back on track after its much awaited 'London Fork' update and the coin is now rallying back towards its previous all time highs. The coin is now the most-sought after investment and experts predict it could triple in value by 2025.

Ethereum at the time of publishing was trading at $2,944 and is down -7.05% in the days trade and the time is ripe to buy it during the dip.