If you’re thinking of investing in cryptocurrency, you’re not alone. Cryptocurrency is one of the hottest investments right now, and for a good reason. Despite some volatile swings in value, many cryptocurrencies have shown incredible growth over the past year. So which coins should you buy? This blog post will share seven of the best cryptocurrencies to buy now.
For you to enjoy what crypto has to offer, you need a crypto exchange. The crypto exchange is a platform where you can buy and sell cryptocurrencies. So you need to select the best crypto exchange that fits your needs. These platforms use blockchain technology to facilitate transactions. The crypto exchange offers a variety of features, including a user-friendly interface, high security, and low fees.
Below are the best cryptocurrencies to invest in now:
1. Ether (ETH)
Ethereum and Bitcoin are the most renowned members of the vast crypto family. Since they have long track records, reputable brand names, and dedicated investor bases, ETH and BTC are must-own cryptos. However, unlike BTC, Ethereum’s network is designed to allow decentralized finance and a new world of intelligent contracts. Decentralized finance (DeFi) is seen as one of the most potentially disruptive creations of the 21st century. It theoretically enables fully ‘trustless’ financial transactions by removing traditional intermediaries, including exchanges, brokers, and banks.
2. Bitcoin (BTC)
Experienced cryptocurrency investors are allocating a considerable amount of their crypto investment in Bitcoin. It runs on a blockchain or a ledger recording transactions distributed on a vast network of computers. BTC is safe and secure from fraudsters since any additions to the ledger must be verified by completing a cryptographic puzzle. Over the years, its price has grown exponentially, and it has become a globally recognizable brand. Between May 2016 and March 2022, its price has experienced a growth of almost 7,800%. Although you shouldn’t consider digital assets as trusted investments, there is nothing as close to a blue-chip cryptocurrency as Bitcoin. Its performance in challenging financial periods proves this. Despite last month’s chaos, BTC’s market domination has grown to 43.1% from 42%. The growth has mainly been occasioned by increased speculation and loss of luster by unproven coins.
3. FTX Token (FTT)
FTX is among the world’s largest crypto exchanges, focusing mainly on cryptocurrency derivatives and institutional trading. With low, competitive charges, it provides options, future, and swaps on some of the major cryptocurrencies in the market. The platform’s native currency, the FTX token, has recently grown due to the increased institutional and retail interest in digital assets. Due to a new round of funding, FTX’s valuation has risen to $32 billion in January from $25 billion in October.
4. Avalanche (AVAX)
If a particular market is spacious enough, it can have several winners. Although Ethereum is the most dominant network, blockchains such as Avalanche and Solana also compete for a share in the smart contracts and DeFi world. Since the beginning of last year, Avalanche has grown about 2,700%, while its overall market share has risen to 1.1% from 0.1%.
5. Binance Coin (BNB)
BNB, the native cryptocurrency of Binance, is a good bet on a dominant and expanding ecosystem introducing the masses to the crypto universe. Recent data indicates that its daily trading volume was almost twice the second exchange by volume. Some efficient decentralized projects influence its rapid evolution in the cryptocurrency space. Besides Ethereum and Bitcoin, it is one of the contenders of a blue-chip digital token.
6. Uniswap (UNI)
UNI is among the best cryptocurrencies you can buy now. It’s the governance token for Uniswap, the world’s leading DEX by trading volume. Without the need to create an account or provide your name, Uniswap lets coin owners swap and convert primary crypto tokens. Its low fees can also be attractive to investors. Despite not being a top-20 token currently, the greater liquidity associated with its brand name makes it a compelling bet.
7. Solana (SOL)
Bitcoin is viewed as an antique peer-to-peer payment system. On the other hand, Ethereum is more infrastructure than currency because its role as a network allows the building of decentralized apps on top of it. Solana features prominently in the debate of which network will rise as the trendsetter in DeFi. Although Ethereum’s market capitalization of over $360 billion means it is the current frontrunner, Solana’s $32 billion market cap shouldn’t be scoffed at. Also, its dramatically lower fees give it an excellent chance to close the gap.
So, those are seven of the best cryptocurrencies to buy now. While many others are on the market, these represent a good mix of long-term potential and stability. Keep in mind that all investments involve risk, so do your research before buying any cryptocurrency. And as always, never invest more than you can afford to lose.