Are you looking for the best DeFi cryptocurrency to buy in May 2023? If so, then we’ve prepared a list of the DeFi tokens that you should be considering for your portfolio.
Read on to learn more about these coins, we will tell you about the best DeFi crypto coins to buy today and where to buy them. We will also provide you with a step-by-step guide to buying them on the most popular crypto exchange.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Read on to discover why you too should consider adding them to your list of best DeFi crypto to invest in today.
A Closer Look At The 10 Best DeFi Coins
Our experts and the majority of forecasters are confident that the following DeFi cryptocurrencies will have the fastest rebound. They, thus, have the highest potential of helping grow your DeFi crypto portfolio this year – when the crypto market is expected to start recovering.
1. Uniswap (UNI) – Overall Best DeFi Coin to Buy in May 2023
Uniswap is overall the best DeFi crypto to invest in today and the most popular decentralized exchange. It has attracted more than 3 million users and has processed trades worth more than $1 Trillion in the last three years. It is also one of the most valuable DeFi protocols with a market cap of $4 Billion and more than $3.35 Billion in total value locked. And we consider it the overall best DeFi coin to buy right now not only because it has strong fundamentals but also because it has a massively promising future.
Our analysis of the larger crypto-verse indicates a growing interest in DEXs and a need to diversify incomes among long-term crypto investors. The privacy crusaders no longer want to be associated with centralized crypto exchanges that can withhold their crypto assets or share their trading information with authorities. The rest want to earn passive incomes by staking and providing liquidity.
Uniswap provides real answers to both these challenges, which explains its blowing popularity. This is especially evidenced by the growing number of traders registering accounts with the DEX. The number of digital wallets holding UNI tokens has also been on the rise. But more significantly, Uniswap is now integrated into 300+ crypto-based programs.
We expect Uniswap’s popularity to continue rising in the foreseeable future. A move that will most certainly catapult UNI price forecast to new heights - as high as $250 by 2030 (representing a 5000% value gain) - further confirms why UNI is the best DeFi coin to buy today.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
2. The Graph – Top Indexing Defi Coin to Watch
Another DeFi crypto worth considerig is The Graph. It is revolutionizing how data is organized and accessed through blockchains. Leveraging the Ethereum network allows users to quickly identify relevant data from any connected blockchain attached to a particular transaction.
This powerful tool ensures that information in smart contracts is easily retrievable and verified. Transactions can then go more smoothly without spending time and money trying to ensure that no vital information has been excluded. Essentially, The Graph transforms crypto into an even more functional economic tool for existing and emerging markets.
Besides its strong fundamentals, what makes The Graph one of the best DeFi Coins to buy is its current price point. Compared to its all-time highs, The Graph is trading at a huge discount.
This means there is considerable upside potential for GRP price as the market starts to gain traction. The Graph doing 200% or more gains from its current price point is easily attainable.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
3. Chainlink – Top Defi Crypto That for Smart Contracts Data
Chainlink has firmly established itself as a leading DeFi crypto in the decentralized oracles market. It has been able to do this by combining reliability, robustness, and widespread support into one cohesive platform.
The platform is entirely open source and decentralized, allowing developers to use it for any number of applications without fear of censorship or restrictions. This makes Chainlink an attractive option for various projects, making it dominant across the DeFi landscape.
What makes Chainlink stand out as one of the best DeFi coins to buy is its ability to securely provide real-time data and trusted computation on distributed networks like Ethereum. As more people and businesses recognize the potential of the technology, we expect Chainlink's dominance to only increase in this sector.
4. Theta Network – High-Flying Defi Coin Focused on Content Creation
Theta is a blockchain-powered network creating a fundamental change in how content is produced and shared. Its technology optimizes the entire ecosystem by introducing decentralized content delivery.
Theta's peer-to-peer architecture enables viewers to act as an anchor and help deliver larger video content at a fraction of the current cost. Plus, viewers get rewarded in native tokens for their participation in relaying content, resulting in a win-win situation for all stakeholders.
Furthermore, using Theta's unique technologies and infrastructure, developers have full access to create innovative applications leveraging the platform to power their own systems. With its unprecedented economic model, scalability, performance, and user experience, it is not hard to see why Theta is one of the best DeFi coins to buy now.
From a price perspective, Theta is a solid DeFi crypto coin investment at current prices. That's because it is trading at a discount of 92% from its 2021 highs.
5. Tezos – Leading Defi Coin that is Highly Scalable
The platform offers spontaneous transactions with low fees and allows users to upgrade the protocol relatively easily, something lacking in many other cryptocurrencies.
Tezos users are free to submit proposals for improvements, which are voted on and implemented. This upgradeability and democratic approach make Tezos a unique player in the crypto world and one worth keeping an eye on.
However, the heavily discounted price makes Tezos one of the best DeFi coins to buy in May 2023. Like most altcoins, Tezos is trading at a massive discount compared to its all-time highs.
Currently, Tezos price is trading at an 87% discount from its most recent all-time highs. When you factor in upcoming upgrades like the introduction of Zk Rollups, there is no doubt that Tezos is one of the best DeFi coins to buy today.
6. Pancake Swap – Popular Defi Coin for Token Trading
PancakeSwap has quickly become one of the most popular DeFi crypto coins due to its simplicity and user-friendly platform. The interface allows users to easily swap tokens and make money by providing liquidity via farming.
The platform's features improve the speed, efficiency, and security of cryptocurrency trading. In addition, PancakeSwap encourages users to get involved in the project by granting rewards for staking or providing liquidity in their pools.
Bottom line? The possibilities are endless with PancakeSwap regarding secure, quick, and affordable cryptocurrency trading. From an investor perspective, these capabilities mean Pancake Swap is one of the top DeFi coins to invest in.
Its price makes an investment in Pancake Swap even more attractive. At the moment, Pancake Swap is trading at a discount of 90% from its 2021 highs. If the market turns around anytime soon, the upside potential will be relatively high.
7. Convex Finance – Best Defi Coin for Passive Income
Convex Finance is revolutionizing how users are rewarded for providing liquidity on decentralized exchanges. With the Convex DeFi protocol, liquidity providers can earn a share of trading fees generated on Curve without needing to stake their tokens – offering greater flexibility regarding cryptocurrency investments and an alternative approach to traditional staking rewards.
Additionally, Convex's model is built on transparency, with automated fee redistribution from within the protocol eliminating the need for manual payouts. This unique system has been making waves in the crypto arena as more people become aware of its potential rewards and streamlined user experience. It's what makes Convex Finance one of the best DeFi tokens to buy in anticipation of another altcoin rally.
Convex Finance is trading at a significant discount like the other top DeFi coins in this list. Convex Finance is currently 90% off from its 2021 highs. If bulls retake the market, this cryptocurrency could quickly gain 200% or more.
8. 1Inch – Fast Growing Defi Coin that is Making DEX Trading
The 1inch Network brings the best of decentralized Finance together. By connecting different DeFi protocols to create one robust network, this DeFi crypto coin gives users access to the most lucrative, fastest, and secure operations for trading tokens, generating yield, and executing transactions between platforms.
The 1inch Network simplifies a complex structure that was once difficult to navigate, allowing users to use DeFi's impressive capabilities fully. Users can benefit from many opportunities with every protocol's unique strengths and features while minimizing cost, time, and safety risks.
It's an impressive achievement that marks a milestone in decentralized Finance and makes 1Inch one of the best DeFi coins to buy now.
Currently, 1Inch is trading at a discount of 93% from its 2021 highs. This makes it a good buy even if it were to retest its 2021 all-time highs.
9. Oasis Network – Best Defi Coin On Data Privacy
Oasis is ushering in a new era of trustless, privacy-preserving blockchain networks. Using cutting-edge cryptographic techniques and modifiable consensus algorithms, Oasis has built a highly secure network that provides users with the highest degree of data privacy and maintains scalability.
This allows applications to run on Oasis while delivering data confidence and performance at scale. The leading layer-1 blockchain network will enable developers to easily deploy their decentralized applications without needing an outside service provider.
With Oasis, users know that their data is safe and secure, while developers can quickly put their products into the hands of consumers. Given how data privacy has become in the world today, this is a big enough reason to believe Oasis Network is one of the best DeFi coins to buy today.
At the moment, Oasis Network is trading at a discount of 88% from its most recent highs. This further validates that Oasis Network is one of the best DeFi crypto coins to buy in May 2023.
10. Aave (AAVE) – Best Multi-Chain DeFi Project to Invest in
Started as ETHLend in 2017, Aave is one of the oldest DeFi platforms around. It was born out of the need for a decentralized and highly flexible savings and lending platform in the crypto-verse. It was the first crypto lending platform to support non-collateralized crypto loans. The platform’s popularity among crypto investors has also been on the rise. But so has investor interest in AAVE, especially after the tokens rallied by 3000%+ in early 2021.
But these aren’t the only reasons why we consider Aave the DeFi token to buy right now. We feature it here because it has a massively promising future. Given the rising global inflation and contracting interest on savings, we expect to see more individuals flocking the platform in search of higher interest on savings and flexible loan terms. And given its squeezed supply of only 16 million AAVE tokens against this growing investor interest in both the lending platform and the altcoins, we expect it to report a sizeable value gain in the future.
We also observe that Aave has the third-largest total value locked - in excess of $3.71 Billion - and that it is a multi-chain protocol. It has already deployed on such large blockchains as Fantom and Avalanche and is expected to launch on more in the foreseeable future.
And all these, plus a recovering crypto market, a revived DeFi craze, and AAVE’s resilience are expected to help catapult the token prices to inconceivable heights by the turn of the decade. Optimists are, for instance, confident that AAVE price prediction could rally by more than 6000% to top $3500 - which is yet another confirmation that Aave is the best DeFi crypto to buy in the current dip.
11. DyDx – Fast Growing Defi Crypto Coin Making The DEX Experience Easy
DYDX is an innovative protocol that simplifies and improves the cryptocurrency exchange experience. It offers users a secure and efficient way to trade digital assets with its non-custodial approach, which means they maintain complete control over their funds.
The underlying protocol is powered by the DYDX governance token, providing users with voting authority to make essential platform decisions. It gives traders greater autonomy and enables creators, developers, and other contributors to shape how the community will use the platform. DYDX is changing how we trade cryptocurrencies – providing everyone secure, trustless, yet user-friendly access.
When you look at its price, DyDx easily stands out as one of the best DeFi coins to buy now. Compared to its most recent highs, DyDx is currently massively undervalued and has the potential to explode in the future and to double or triple in price.
12. Maker (MKR) – Best ETH-Based Lending DeFi to Buy in 2023
Maker is one of the oldest and most popular DeFi lending protocols. It is also home to the all-popular DAI stable coin and was among the first decentralized platforms to embrace DAO oversight.
MKR, on the other hand, is the utility and governance token for the platform that currently has the highest total value locked - more than $6 Billion. We feature it among the best DeFi coins to buy today because of its proven resilience and promising future.
For starters, it has been around since 2017. This implies that it survived the longest crypto winter yet - between 2018 and 2020. It also survived some of the most turbulent crypto market crashes in 2021. And it also looks poised to overcome the contracting crypto market and escape current dips.
Maker’s massive popularity and wild acceptance by the crypto community are expected to catapult its token prices. By the turn of the decade, analysts are confident that it could rally by more than 4000% to break above $40,000.
Other factors that we believe will help Maker’s value gain include its limited supply of 1 million MKR tokens against an undying demand, a recovering crypto market, and a revived DeFi Craze. And they all add to the reasons why you too should consider adding MKR to your list of best DeFi coins to buy today.
13. Compound (COMP) – Best Staking and Lending DeFi Protocol
Compound is a leading crypto ending and stalking platform that lets you earn interest on staked ETH and ERC tokens. It also lets you take out loans against the staked crypto at a highly competitive rate and with flexible repayment periods. It has received massive reception from the community.
This has helped COMP grow its market cap to peak at $4.4 Billion and expand the total value locked on the platform past $1.7 Billion - making it the 9th Most valuable DeFi protocol on DeFi pulse. And we rank it this high among the best DeFi coins to invest in right now because we are confident that Compound will continue advancing these gains in the future.
We also feature it here because we believe such factors as a growing number of Compound platform users, a recovering crypto market, a revived DeFi craze, and increased investor interest in COMP tokens to help ignite the token’s next price run. Not forgetting that COMP tokens have already proved their resilience and that they already are listed with virtually all the most popular crypto trading platforms.
If you add it to your index of best DeFi crypto to buy and invest in the token today, you stand to potentially grow this investment by 5500%+ when COMP price prediction eventually break above $2500.
14. DeFi Coin – Best Defi Crypto Worth Considering This Year
DeFi Coin is a relatively new cryptocurrency, but it is still on the list of best DeFi coins to buy now. DeFi Coin is the perfect fit for users looking to break into the DeFi world.
The token powers the recently released DeFi Swap decentralized exchange (DEX), which offers valuable features such as staking and yield farming. The DEX places no restrictions on trading, allowing users to access various markets and earn rewards through staking and yield farming activities.
Additionally, DeFi Coins makes it easy to access liquidity by giving traders and investors unrestricted permissionless access to market prices. In short, DeFi Coin is a convenient tool for exploring new opportunities in the constantly evolving crypto space.
What makes DeFi Coin a high potential DeFi coin today is the changes that have hit the crypto industry recently. With the collapse of high-profile exchanges last year, decentralized exchanges like DeFi Swap are set to gain traction.
The best part is that DeFi Coin is undervalued at its current price. Compared to its peak prices in December 2021, DeFi Coin currently trades at a discount of 93%. Even if it retests its all-time highs, this DeFi Crypto Coin would be highly rewarding to investors.
15. Loopring (LRC) – Decentralized Exchanges Protocol With a Popular Promising Crypto
Loopring is an open-sourced and hybrid decentralized exchange protocol. It makes it to our list of best DeFi coins to buy and hold primarily because it bridges the gap between centralized and decentralized exchanges - hastening the adoption of DEXs.
It is a decentralized platform that promises to marry the efficiency of centralized exchanges and the transparency of decentralized exchanges, effectively knocking down the biggest barrier to the adoption of DEX exchanges yet.
Three other factors informed our decision to include Loopring here; first, it appeals to a growing trend in the crypto community and hastens the adoption of DEXs. Secondly, Loopring is multi-chain and can be hosted on Ethereum, NEO, and QUANT blockchains.
Lastly, Loopring is more than a DEX, it is a protocol on which other - equally powerful - DEXs can be built. And all these are geared toward increasing their usefulness and the use cases for the LRP tokens - which is important if they are to sustain their current value gain.
You too may consider adding LRP price forecast to your list of best DeFi cryptos to buy in the current dip because its popularity has been on the rise. Furthermore, it has proved its resilience, and a recovering crypto market, as well as growing adoption of crypto technology, are all expected to continue fueling its value gains.
16. SushiSwap (SUSHI) – Popular DEX With a Promising and High Performing DeFi Coin
SushiSwap was the first and most successful Uniswap hard fork. It too has grown in popularity owing to its innovative approach to the decentralized exchange world - characterized by deep liquidity, fast order execution, and competitive earnings on continued liquidity.
Its fork received a massive welcome from the crypto community, evidenced by the fact that more than $1 Billion worth of crypto was moved to its liquidity pools in the first few days of launch. This launch even forced Uniswap to hurriedly launch the UNI tokens. Further, there is a massive interest in the DEX protocol and it was the best DeFi crypto to buy at the time.
But while everything seemed to work for the DEX, its pseudonymous founder - Chef Nomi - cashed out his SUSHI tokens in what was interpreted by the crypto community to be an exit scam. It rocked Sushiswap’s boat, the total value locked here shrunk, and SUSHI token prices crashed.
So why should you consider adding the SUSHI token to your list of best DeFi coins to buy in today?
For starters, Chef Nomi has since returned these assets and surrendered leadership of the DEX protocol to the level-headed Sam Bankman-Fried - the founder and CEO of the FTX exchange. Additionally, liquidity is moving back to the DEX, SUSHI token prices have begun recovering, and community interest in the brand is also on a steady recovery.
You would, therefore, want to be part of this Sushiswap rebirth. In fact, some optimists estimate that current SUSHI price token hodlers will most likely grow their portfolio by 6000%+ when the DeFi coin prices tear above $60 by 2030.
17. Yearn.Finance (YFI) – Best DeFi Aggregator Platform With Low Token Supply
We include Yearn.Finance among the best DeFi coins to buy in the current dip for two reasons. First, it is a popular and revolutionary cryptocurrency with a history of stellar performance. It has sustained an overall positive ROI since its launch - having peaked more than 10000% above its introductory price during the early 2021 market rally. Secondly, it has one of the lowest maximum token supply - capped at 36,666 YFI - which based on its growing popularity will help keep its token prices on an uptrend.
In addition to these, we have identified three more why you too should consider Yearn.Finance a top DeFi coin to buy today. First, it let you earn passively via competitive interest rates when you stake your coins on this platform. Secondly, you get to borrow against your staked crypto in a seamless process, at competitive interest rates and with flexible repayment periods.
Even more importantly, you can consider it the best DeFi crypto to buy it is estimated that it will grow your portfolio by unbelievable rates in the future. The majority of analysts in the crypto market have, for instance, said that they expect YFI token prices to top $400,000 by the turn of the decade, which would mean close to 7000% value gains for you if you buy the token today.
18. Curve Finance (CRV) – Popular DeFi Marketplace for Stablecoins With a Massively Popular Coin
Curve Finance is a unique decentralized exchange given that it specializes in the trade of stablecoins. At the time of writing, it is selling at a 95% discount (from its all-time high) and well below its introductory price. But we still feature it among the best DeFi coins to buy today because of its immensely promising future.
After losing more than 90% of its introductory price within its first two months of launch, for instance, Curve proved its resilience and recovered much of this during the 2021 market rally. And this tells us that it only trading at these lows because of the ongoing market contraction. That it will bounce back at the first chance of market recovery.
We must also observe that investor interest in the DeFi platform hasn’t dwindled, even with the beaten-down CRV token prices. It still has the 5th largest volume of cryptos locked to its platform - according to DeFi pulse. And continues to partner with both on- and off-chain brands - with the most recent being the partnership with Compound Finance to launch a DeFi lending platform.
All of these have us convinced that CRV token prices will have a fast rebound with analysts expecting them to rally by 4000%+ and hit $40 by 2030.
19. Kyber Network (KNC) – Best Liquidity Aggregation and Provision Platform
Kyber Network addresses the biggest challenge facing the DeFi sector - fragmentation. Now that every developer seeks to set up their own DeFi protocol, liquidity for the majority of DeFi coins has been spread thinly across multiple protocols - which forces most active traders and large volume traders to a centralized exchange.
Kyber Network, however, addresses this by coming up with a decentralized protocol that aggregates liquidity from different DeFi protocols. This gives traders access to deep liquidity at the most competitive rates. This has already endeared Kyber Network to a majority of crypto traders and investors whose interaction with the platform and the KNC token have helped it sustain the current uptrend.
We consider it the best DeFi coin to buy today because we expect it to continue drawing in users who continue driving its token prices up. In addition to users, other factors that we believe will help drive KNC token prices up include the rising adoption of crypto technology, its proven resilience, and a revived DeFi craze. And in the next 10 years, these all are expected to have helped KNC price rally by more than 6500% to break above $90.
20. Bancor (BNT) – Pioneer DeFi Protocol With Ultra-Competitive APRs
Bancor is a top 10 DeFi protocol with close to $80 million in total value locked according to DeFi Pulse. Started in 2017, it is one of the longest-running DeFi technologies and some have christened it the pioneer DeFi protocol.
Bancor is also massively popular within the crypto community and the confidence that it will most likely leverage popularity to turn its fortunes around is one of the reasons we consider it the best DeFi coin to buy today.
You too should add to your list of top DeFi coins to invest in today because; first - it promises higher than average returns on staked coins (as much as 60% interest on select coins). Secondly, it is the only DeFi protocol that protects its investors against impermanent losses. Lastly, it helps grow your portfolio.
Between now and the turn of the decade, for example, analysts are confident that BNT price forecasts have whatever they need to rally their current prices up by more than 10000% to break above $50.
What Exactly Is a DeFi Crypto?
Defi coins are cryptocurrencies that provide financing solutions for distributed ledgers, such as blockchain technology. These coins allow transactions to occur in a decentralized environment, allowing anyone from anywhere to access financial services without central oversight or administration.
The best Defi coins in terms of fundamentals have seen tremendous growth in recent years due to their ability to offer efficient and transparent solutions such as decentralized trading and passive income from liquidity fees.
DeFi Coins As An Investment Are Growing
While the broader cryptocurrency market is on a growth trajectory, DeFi coins are among the fastest-growing aspects of the market.
For context, most of the best DeFi coins to buy today only became a thing in 2020. However, their valuations have grown so fast that today, DeFi coin's total market capitalization stands at $50.38 billion after a massive correction in 2022.
That said, DeFi coins' total market cap is still tiny compared to the broader cryptocurrency market capitalization of $1 trillion, and that’s during a bear market. This is a positive indicator that there is much room for growth in DeFi.
Best Performing DeFi Coins - A Brief History
If you want to invest in the best DeFi coins with confidence, it is important to look at the price history for confidence. Many DeFi coins have done well over the years, but as an example, let’s look at Avalanche (AVAX).
In September 2020, Avalanche was trading at only $4.75. It then rallied, and by the peak of the cryptocurrency bull market in November 2021, Avalanche was trading at $135. This means anyone who got into Avalanche in 2020 and sold in November 2021, made a profit of 2700%.
Of course, as they say in finance, past performance is not indicative of future returns. As such, it is best to research and diversify when looking for the best DeFi coins to buy ahead of the next bull run.
DeFi Market Core Fundamentals
Up to this point, you have a good idea of what DeFi is and its potential. You also have a good idea of what DeFi coins are undervalued and have future potential.
Now, look at some fundamental factors when scouting the markets for the best DeFi crypto coins to buy.
The Market is Huge
The world of technology is constantly evolving and offering new opportunities to invest in. One of the best investments a person can make are those that will disrupt major industries, and DeFi is an excellent example of an innovation doing precisely that.
DeFi is part of the blockchain industry, and its goal is to disrupt the trillion-dollar banking industry. It allows for more financial freedom and transparency than we were used to before, allowing people access to more financial services without relying on traditional banks.
The potential for DeFi is enormous, with a truly revolutionary impact on the world if it comes to fruition. Since the DeFi cryptos discussed above already have a leg up in terms of adoption, the future is bright.
While DeFi coins are still relatively young, there is excellent growth potential. With the crypto market as a whole in its infancy, many investors have an early chance to get involved in these coins and take advantage of their growth before they become more mature.
The influx of new technology improved liquidity, and corporate interest has propelled DeFi coins to new heights. With further developments moving forward, the potential for such coins is only set to grow.
Are DeFi Coins Good Investments?
DeFi coins are great investments today because they are a relatively new niche in the ever-expanding cryptoverse. Both technical and fundamental analysts are massively optimistic about the future of the niche and individual cryptocurrencies securing different protocols here.
DeFin cryptos are expected to blow up during the next market rally and sustain this uptrend in to the future - especially if the heightened global political tensions, contracting economies, and rising inflation persist.
Here are more reasons why our analysts and the majority in the crypto community believe DeFi coins are great investments:
- Many are low priced: The majority of DeFi coins available today are competitively priced - often selling for pennies. They, therefore, present you with an excellent entry point to crypto investing and portfolio diversification.
- Lucrative to early adopters: The majority of DeFi coins are also relatively new or simply having their popularity blow. They have sustainable protocols that promise to be massively lucrative for early adopters when they eventually blow.
- Promising future: Everyone is confident that DeFi token prices will continue rising and that the niche has a promising future, which makes them even more appealing to long-term crypto investors.
Where To Buy DeFi Coins
The majority of these DeFi coins have blown in popularity. As a result, they have been listed in virtually all the most popular crypto trading platforms. But if you are looking for the best places to buy DeFi Coins today, we recommend going for one of the following crypto exchanges:
- eToro - Best place to invest in DeFi coins for beginners. eToro has a straightforward account registration process, a seamless buy process, and even integrates social and copy trading tools.
- Coinbase - Best place to buy DeFi coins instantly. Coinbase is deeply liquid, operates an intuitive trading interface, and lists a wide range of DeFi coins.
- Binance - Best place to buy DeFi coins at low trading fees. Binance lists the widest range of DeFi coins and their trading pairs, its massively liquid, and insures the client’s digital assets held in its vaults.
How To Buy DeFi Coins Tutorial - Step-by-Step Guide
Want to just straight to buying DeFi coins but aren’t sure where to start? We recommend following this step-by-step guide that teaches you how to buy DeFi cryptos on the all-popular eToro crypto exchange.
Step 1: Register a crypto account
Start by opening the official eToro website and hitting the “Join Now” button. A user registration form will pop up. Complete it by entering your basic personal information and telling the exchange of your income sources and level of trading experience.
Step 2: Verify identity
To complete the registration process, the multi-regulated broker will ask that you verify your identity by uploading a copy of your government-issued identification document.
Step 3: Fund the account
Proceed to log i-n to the now-approved eToro trader account and on the user dashboard, press “Deposit.” This will reveal a funding tab that lists all the payment options available to you based on your country of residence. Choose one and follow the prompts to complete the deposit - noting that the minimum you can deposit into eToro is $10.
Step 4: Search for the best DeFi coins
Once the deposit reflects in your trader account, hit the “Discover” button on the user dashboard. Choose “Crypto” from the list of supported asset classes and look up the DeFi coin to buy from the list of cryptocurrencies supported on the platform.
Step 5: Buy DeFi coins
Click the “Buy” option against the preferred DeFi coin to bring up the trading menu. Use it to customize the trade by indicating the number of tokens you wish to buy or the amount of cash you wish to spend on the trade. Then click on the “Open Trade” button to complete the purchase.
Best DeFi Coin Wallet
There are three primary types of digital wallets available to DeFi coin traders today. First is the exchange-based wallets provided by the exchange where you bought the crypto assets. Secondly, you have third-party and non-custodial online wallets that encrypt the private keys for your DeFi coins and store them in the root memory of your phone or computer.
Lastly, and our recommendation, you have access to the more reliable and ultra-safe hardware wallets. This stores your coins offline - away from hackers and other malicious elements. Note that we do not advice our readers to leave their private keys at an exchange or hold them in their online wallets.
Conclusion - DeFi Coins To Invest In
DeFi coins are promising to be the best big thing. Their niche is relatively new and the majority of analysts expect it and the associated crypto coins to post galactic gains in the foreseeable future.
To help you take advantage of these portfolio-bulging gains, we have come up with what we consider to be the 10 best DeFi coins to buy in May 2023. We have even gone over why they stand out and how high up they are expected to reach over the next few years.
But more importantly, we have told you of the best places to buy these DeFi coins. And concluded by providing you with a step-by-step guide on how to buy DeFi coins on the all-popular eToro trading platform.
eToro – Best Platform To Buy DeFi Coins
Open an account with eToro, deposit some funds with USD, and finally – buy DeFi coins for just $10.
FAQs Best DeFi Coins
What is a DeFi coin?
DeFi coins refer to all the cryptocurrencies linked to the Decentralized Finance niche. Most are the native tokens for the many DeFi protocols and programs around.
What is the best DeFi coin to buy in 2023?
Our analysis indicates that Uniswap could be the best DeFi coin to buy in 2023. But we also provide you with a list of nine other equally promising DeFi coins that we believe will perform exemplarily well in the future.
Are DeFi coins good investment?
Yes, DeFi coins are a good investment because the niche is currently in its infancy stage and still enjoying massive hype from the crypto community. All these are expected to help rally DeFi coin prices.
How do I buy DeFi coins today?
Start by registering a crypto trader account with a reputable crypto exchange that lists DeFi coins - like eToro. Deposit funds herein, choose the DeFi coins you would like to buy, and initiate the buying process.
How much do I need to start buying DeFi coins?
The minimum amount required to start buying DeFi coins varies from one trading platform to another. At eToro, for instance, the minimum deposit/trade limit for UK and US residents is $10.