The recent rise in Polkadot has raised many questions for novice investors. Is it a good time to enter or do I wait for a correction?
Of course it is a good time to buy DOT. If we look at all the projects behind this token, practically all are in Beta phase. They are testing the system so that everything works well, therefore, of course, it is a good time to enter.
We must be cautious and do not put all our capital in DOT. The token will grow progressively and probably, as soon as the ecosystem is ready to host all the important blockchains, it will skyrocket in price.
Many applications will need to have DOT to have voting power within the parachains. Exactly the same with the wild or trial version called Kusama. The general proposal is to cover almost all possible Dapps, whether they are video games, mobile telephony, social networks, asset exchange, crypto banks, wallets ...
Akala Network, still in the Testnet phase, has a great interface, cleaner and more intuitive than MakerDAO. Likewise, Polkaswap, an Exchange where we can change any token regardless of the blockchain to which it belongs, shows the same design as Uniswap. Comfortable, pretty, unsaturated and practical for us to connect our wallet, do the swap and go.
It is undeniable that a strong price increase is coming for Polkadot, it is enough to analyze his intentions. The thing is, we can't be impatient, nor can we be fearful. You have to give the ecosystem time to settle, new validators arrive, more applications are created and this environment clears up a bit. Too much tension at the workplace due to the pandemic.
Many programming and development teams are rundown and limited, both in staff and funding. Due to this, the arrival and creation of applications and companies is slightly slowing down, although they are convinced that cryptocurrencies represent the future, the risks are high.