As the crypto market shifts and becomes more accessible, more and more people are investing in digital assets. The number of people who have currently invested in crypto rose to 1 in 10 this year.
If you want to join the club but don’t know what crypto to invest in, we prepared a list for you. Below are the best cryptocurrencies to buy:
Table of Contents
1. Bitcoin (BTC)
As the world’s most popular cryptocurrency, BTC remains at the top of the market. In the past month, one BTC cost an estimated average of 61,700 USD. However, in the past few days, it has experienced a dramatic decline in value.
Nevertheless, a BTC remains a valuable asset thanks to its first-mover advantage. Many other investors also value the potential hedging benefits that each coin holds. Finally, Bitcoin is a stable, censorship-resistant store of value. In other words, it’s perfect for a long-term investment.
2. Ethereum (ETH)
Another cryptocurrency to watch out for is Ethereum or ETH. It has the second-largest market share next to BTC (19% for ETH after BTC’s 43%). Because it’s the next most popular cryptocurrency, its value is significant.
ETH has real-world applications, like its smart contacts and quick transactions. You can use it to finance your insurance, healthcare, and other bills. If you’ve been keeping up with the latest tea on the internet for the past year, then you’d also know that you can use ETH to buy NFTs or non-fungible tokens.
3. EOS
Ranking 23rd in the top crypto assets by market cap, EOS is an altcoin to consider investing in. EOS is similar to ETH since it allows the creation of decentralized apps (dApps). This feature also makes it a convenient tool for developers.
Don’t forget that it has unparalleled transaction and processing speed. According to 3Commas analysts, a cryptocurrency like EOS is an excellent long-term investment. However, if your goal is to get back your capital after only a few years, it’d be wiser to invest in cryptocurrencies like ETH instead.
4. Solana (SOL)
As a rising altcoin, the largest market cap SOL reached so far is a little over $60 billion. The unique feature that the SOL model boasts is its hybrid proof-of-stake and proof-of-history mechanisms. These features make the process and transactions more quickly and securely.
Its developers also created SOL to help decentralized finance (Defi), dApps, and smart contacts. More benefits of the Solana protocol are that it has lower fees and is easier to scale than rival altcoins. These are likely the reasons behind its top ranking in the past month and weeks.
5. FTX Token (FTT)
The next most profitable investment you should consider is the FTX Token. Many traders know that they can get value for their money when they trade in FTT. These tokens provide scalability, speed, and reliability to the users.
However, keep in mind that the US’s exchange platform for FTX (FTX.US) has a limited product range. FTX has stricter regulations, so it can’t offer all its products in the US. However, since the start of July, you can see that its price has gone up over 1000%. If you’re thinking about buying an FTT token, carefully consider if you’ll hold onto it longer or sell it after another price increase.
6. Cardano (ADA)
Although Cardano is relatively new to the market, it’s one of the fastest-growing cryptocurrencies today. It brings together two appealing coin characteristics:
- Energy-efficient proof-of-stake protocol
- Hard cap on the maximum number of ADA coins
In other words, it decreases its impact on the environment by removing the transaction verification step. The same feature also speeds up the transaction time of using the Cardano cryptocurrency.
7. Dogecoin (DOGE)
What began as a joke in 2013 is now a well-known cryptocurrency. One reason behind its success is that it was early in the crypto game. Also, as a meme token, it garners the attention of investors and non-investors alike. Today, many new traders use Dogecoin as a way to learn about volatility in crypto.
An interesting thing about DOGE is that its proof-of-model-based mining model and inflationary status are unique. It also has ties to Litecoin, which further puts it in a unique spot on the market. You may not earn millions from investing in DOGE, but it’s excellent for novice investors.
8. Tether (USDT)
Finally, keep your eye on the Tether cryptocurrency or USDT. As a stablecoin, Tether is backed by fiat currencies like the US dollar and Euro. Because of this, Tether’s value is hypothetically more consistent compared to other cryptocurrencies. This feature also makes it a favorite of investors who want to avoid the volatility of other cryptocurrencies.
Conclusion
BTC is still the best crypto to invest in, followed by ETH, ADA, SOL, and others. We hope you enjoyed reading and learning from our guide to crypto. Remember, before you choose a token to invest in, do your research well.
Tagged: Business Cryptocurrency Finance Investment
