The best crypto for quick profit in December - be careful, this is not financial advice!

Are you in need of money before Christmas? Does it sound nice to purchase a crypto that might increase at least 50% in value before December 24th? There are actually a couple of opportunities and they all relate to OlympusDAO, a treasury-backed currency that was released during Spring 2021.

It took a while for OlympusDAO to get big and to get acknowledged, but it experienced a giant boom in August-September 2021, and not only has it experienced big growth itself, but it has also fueled lots of forks that are all trying to do the same as OlympusDAO, only on different blockchains (with lower fees and faster transactions).

What does it mean to be treasury-backed?

For a long time, the USD was backed by gold, meaning that it had a defined value that was connected to gold. But, that was thrown away in the 1970s, and since then, the Dollar is floating around and losing value every single year. That is why you could buy so much more for 1 USD in 1970 compared to what you can buy now.

OlympusDAO is not a coin pegged to the USD, but it is creating a giant treasury of different coins, and these are all backing the actual price of the OHM token. If you take a look at the image below, you can see that the current backing per OHM is $161. What does this mean? If the value of the token should fall below this level, they will start to use money from the treasury to keep the price at that level.

Currently, OHM is selling at $800, so why pay so much for a coin that is only backed by $161? You will get an APY of 7000% with OHM, meaning that you are getting big bonuses for buying OHM and staking it right now. With the current interest, it takes approximately 60 days for your stack of tokens to get doubled, meaning that you will experience a doubling 6x in the next year if the APY would remain at the current level. It isn't expected to do that, but that is just the math of it.

So, if you buy 1 token today and the APY would remain the same, it would look like this:

Right now: 1 token In 60 days: 2 tokens In 120 days: 4 tokens In 180 days: 8 tokens In 240 days: 16 tokens In 300 days: 32 tokens In 360 days: 64 tokens

That is what the math looks like right now with OHM. But, OlympusDAO is the original and the one with the lowest APY. There are several other platforms with way higher APY and that might be more interesting.

I cannot guarantee you anything, but this is a revolutionary concept, and I believe at least some of these currencies are here to stay for a long time.

But, which of them should you buy? You can read more about the best OHM forks in this article.

Ps: Once again, this is not financial advice, and you should NEVER invest in projects without doing proper research. If you do invest in any of these, buy the tokens, stake them on the platforms, and forget about them for a while (and your money). Then check back in a while. If you are lucky, take a big profit, if not - life goes on!