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What Crypto to Buy Now?

6, December, 2022

in Crypto Coin News

what crypto to buy now
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Wondering what crypto to buy now? If you're looking to purchase cryptocurrency while the market is deep in the throes of bearish momentum, there are a few things to consider.

First, what are your investment goals? Are you looking to invest in a new currency, or are you looking to speculate on future price movements?

What crypto to buy now

If you're simply looking to invest, then you might want to choose a relatively stable crypto. And if you're looking to speculate, then you'll want to choose an asset with a high potential upside.

Of course, you'll also want to consider transaction fees, security, and liquidity. Overall, a mix of crypto assets is most appropriate for a balanced investment portfolio.

But with thousands and thousands of coins available in the market today, choosing the best cryptocurrency is no easy task. So, today, we will help you see which crypto projects are the most valuable and have the most potential.

Bitcoin (BTC)

The undisputed king of the crypto market, Bitcoin is the most well-known and popular cryptocurrency, so it tends to be more expensive to buy and sell. With a market cap of more than $400 billion, Bitcoin is the largest crypto asset.

Bitcoin was first proposed in 2008 by the pseudonymous Satoshi Nakamoto. It has since grown to become the most valuable cryptocurrency in the world, with its market capitalisation surpassing $1 trillion during the height of the bull market.

As of writing, BTC is trading at around $21,000, down 69% from its all-time high (ATH). While Bitcoin has one of the least upside potentials among the major cryptocurrencies, it is the safest bet in the crypto market.

Even though there are thousands of other cryptocurrencies in the market, Bitcoin still represents 36.9% of the cryptocurrency market cap. Bitcoin has also shown consistent value growth throughout the years, pretty much like any other leading cryptocurrencies on the market.

Ethereum (ETH)

Ethereum is an extremely popular cryptocurrency that is the base for all the innovation happening in decentralised finance (DeFi), non-fungible tokens (NFTs), decentralised autonomous organisation (DAO), GameFi, and Metaverse. Sitting at the second spot, ETH has a market cap of $200 billion. The price of Ether, meanwhile, is down over 66% from its ATH.

The Ethereum network now has hundreds of cryptocurrency projects built on it, making Ethereum one of the most valuable cryptocurrencies in the market. In addition, the network constantly goes through improvements, and the latest upgrades, "The Merge" and EIP-1559, have effectively made the native currency ETH a deflationary asset.

Binance Coin (BNB)

While Bitcoin is an excellent choice for aspiring crypto investors who wish to buy a well-established crypto with a history of growth over time, it's mainly for long-term investments. That's where coins like BNB are a great way to get the most upside.

BNB is the native coin of the largest cryptocurrency exchange Binance. The trading platform uses a burning mechanism to remove BNB's total supply, and the more people use its blockchain BSC, the more BNB gets burned.

The coin is currently down 48.5% from its ATH over a year ago.

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Dogecoin (DOGE)

If you are looking for quick and serious gains, you don't want to miss out on this coin. Dogecoin is one of the best meme-based cryptos to create some millionaires and billionaires in recent years, thanks to support from respected celebrities such as Elon Musk, who has voiced his support of the cryptocurrency on an ongoing basis.

Musk is partly responsible for Dogecoin's huge rise, having called it his favourite crypto, but at the same time, the tech billionaire is also responsible for marking the top of the DOGE in May. So, you have to be careful with this coin and, of course, keep an eye on Musk's Twitter for mentions of anything remotely associated with DOGE.

Currently, down 83% from its ATH, Dogecoin is one of the most famous cryptos, positioning itself as the best-undervalued cryptocurrency to invest in due to its potential upside.

Polygon (MATIC)

Polygon is a powerful infrastructure layer for Ethereum that enables Ethereum scaling and Dapp development. It is a Layer 2 solution that uses Ethereum as its base layer and enables Ethereum scaling through sidechains. Moreover, it's also home to 50k Dapps and billions of dollars-worth of assets.

This crypto project is particularly known for its partnerships with well-known companies such as Meta (formerly Facebook), Starbucks, Robinhood, Stripe, Adidas, and Flipkart. These partnerships help its native coin MATIC rally, down about 59% from its ATH of $2.92, which it hit less than a year ago.

Cardano (ADA)

One of the best-performing cryptocurrencies, ADA boasts a $15bn market capitalisation. The coin is down more than 86% from its ATH above $3, making it a potentially profitable investment.

While the Cardano network may be slow in keeping up with the crypto market advancement, the promise of delivering these lofty goals makes ADA attractive among investors.

Ripple (XRP)

XRP currently sits at sixth position while its value is down 85% from its ATH of $3.40 hit five years ago. The digital assets' price has been relatively flat for several years, with the biggest issue being litigation.

After the SECs sued Ripple and its two top executives for reportedly selling unregistered securities (XRP), many crypto exchanges removed XRP from their platforms. But with many entities, including Coinbase, backing Ripple and rising optimism about a Ripple victory has once again placed XRP on the list as the best cryptocurrency to watch.

What crypto to buy now conclusion

Some of the honourable mentions include layer 1 giants Polkadot (DOT) and Solana (SOL), and privacy coin Monero (XMR). You can purchase these cryptocurrencies via many exchanges, like Coinbase, Binance, Kraken, Gemini, and FTX.

On these trading platforms, you can find not only the most popular coins, but also the most obscure ones.

While investing in cryptocurrency is still very much a speculative endeavour, the above-mentioned cryptos are some of the best projects in the market today. However, always remember that crypto is inherently volatile, so exercise extreme caution when allocating part of their portfolios to cryptocurrency.

Ultimately, there is no one "best" cryptocurrency to buy. It depends on the investment goals and risk tolerance you have. Do your own research and choose the cryptocurrency you think is right for you.

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guarav roy

Author: Guarav Roy

Gaurav has been writing professionally since 2017. So far, he has assisted over 100 companies in various domains, including e-commerce, blockchain, cybersecurity, digital marketing, and much more. He is also keen on learning a new skill every year. In his free time, he likes playing games on his Xbox and scrolling through Quora.

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