3 Best Cryptos to Buy Right Now

After a tough year in the crypto market, many investors believe cryptocurrencies are finished. But that couldn’t be further from the truth. They may be down, but now is the best time to buy.

The long-term outlook for cryptocurrency is still extremely hopeful with many investors turning to them for long-term investments that could prove to be significant.

Whilst many cryptocurrencies fail and pose a high level of risk, finding the right one could lead to some sizable returns. First, you need to know where to look.

Here are 3 cryptocurrencies to buy whilst their price remains low.

Ethereum

Ethereum is second best to Bitcoin when comparing them by market cap however, Ethereum is arguably number one regarding usability and practicality. Ethereum currently trades at around $1,700 and is up 45.2% in 30 days but is still down over 50% YTD.

Ethereum is slowly gaining market share against Bitcoin and could soon be the front runner in the crypto world. On August 10th 2021, ETH had 18.83% of the crypto market share whilst Bitcoin held 43.71%. One year on, ETH’s share of the market grew to 19.28% and Bitcoins fell to 40.25%. Whilst these numbers may not seem like a lot, it is clear that ETH is growing and becoming more popular.

Many investors see decentralized finance (DeFi) as the future of the financial industry. Currently, ETH is the leading network for DeFi projects so the popularity and usage of ETH is increasing rapidly.

There is also a major change coming to the infrastructure of ETH. Coined ‘the merge’, ETH will undergo a major update moving from a proof-of-work protocol to a proof-of-stake protocol. This new protocol is much less energy intensive and should increase the scalability of the network, hence increasing long-term growth.

Many crypto enthusiasts believe that this will be a ground-breaking development for the Ethereum blockchain and one which can bring the crypto to new heights. With only one month to go before the big ‘merge’, now could be the perfect time to invest.

Tell us your thoughts on Ethereum here!

Bitcoin

With the largest market cap in crypto, Bitcoin will be a favourable investment among traders for many years to come.

With the increase in acceptance of the coin around the world, Bitcoin is the most used and accepted digital token in this space. Many large firms such as AMC Theatres (AMC) and Microsoft (MSFT) accept the coin as a form of payment.

Bitcoin could also be seen as a great investment right now given it is around 50% lower than its high last year and is testing a rebound.

Long-time traders of Bitcoin know how volatile the crypto can get, often seeing the coin fall by thousands of dollars each month. However, they have also seen it rebound remarkably each time, benefitting from the dip in price.

Bitcoin could also benefit from Ethereum’s merge to a new protocol if it all goes smoothly for the number 2 coin. Given the benefits that the proof of stake protocol would have to the overall crypto market, we could one day see Bitcoin moving to the less energy-intensive protocol. Allowing for new growth for the coin.

Tell us your thoughts on Bitcoin here!

Cardano

Cardano is a cryptocurrency that has lots of potential in the future. It is one of Ethereum’s biggest competitors. However, what makes it stand out from the rest is its small footprint and environmentally friendly protocols.

Unlike Ethereum, Cardano already uses the proof of stake algorithm making their transactions faster, cheaper and less energy-consuming. Using this protocol allows the network to be more secure and scalable. Last year, Cardano launched an upgrade that introduced smart contracts. They now have plans to increase its speed and effectiveness.

They are also an emerging coin with ventures in the Web 3.0 space, recently launching AdaSwap on the Cardano network. AdaSwap is an ecosystem builder where users can build tools such as decentralised finance apps. This could help drive up the price of the coin.

Due to Cardano’s scalability and usage, many analysts believe that Cardano will grow to new heights in 2022. What do you think?

Tell us your thoughts on Cardano here!

TrendyToros have no position in any of the cryptocurrencies mentioned. Views expressed on the assets mentioned in this article are those of the writer and should not be used as financial advice.

Written by TrendyToros

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