Worried about the stock market crash, these are the best cryptos to buy now.
Cryptocurrencies have been on a wild ride since the beginning of the year. The market faced a meltdown that wiped over $2 trillion since November highs. Volatility is definitely a hallmark of the crypto sphere, and every sell-off presents a buying opportunity. However, the crypto market is inclined with the stock market lately, making it more intertwined with macroeconomic factors.
3 Cryptos To Buy During A Stock Market Crash - Our Picks
Here are the 3 cryptos to buy during a stock market crash to reap profitable returns.
- Bitcoin - BTC was the first widely adopted cryptocurrency and still remains the most popular digital asset in the crypto sphere.
- Ethereum - Decentralized finance and institutional adoption would be tailwinds for Ethereum to hit new highs.
- Binance Coin - BNB has a lot of things going on in its ecosystem, making it a good buy now.
A Closer Look At The 3 Best Cryptocurrencies To Buy During A Stock Market Crash
The current market crash is an opportunity to buy the dip, so these crypto coins could be a valuable addition to your investment portfolio.
Bitcoin (BTC)
Institutional adoption is on the rise, and this is one of the best news for Bitcoin investors.
Bitcoin’s price swings are part of the game because every decline in the past has always met with new all-time highs for BTC. With the most significant market cap, the premier crypto accounts for over 42% of the collective value of the crypto market.
Its price has often been affected by the entire stock market, and experts suggest that BTC is one of the best cryptos to buy during a stock market crash because of increased interest from institutions. The high number of exchange-traded funds (ETF) built to offer investors access to Bitcoin provides numerous institutional investors access to the crypto. Over 40% of institutional investors own Bitcoin in their portfolio.
Companies like Visa now transact with BTC. The San Francisco-based start-up, Stripe, was one of the companies that stopped accepting payments via Bitcoin in 2018 due to its volatility. But with the hype over Web 3.0 and seeing BTC’s potential in today’s economic sphere, Stripe again decided to let customers accept Bitcoin payments. This increased acceptance globally has pushed the value and demand of this crypto significantly higher.
BTC is one of the best cryptos to buy for maintaining your portfolio in a prolonged stock market crash. Analysts also believe that despite falling back from its previous all-time high of $68,789.63 in 2021, the coin’s price might rise above $100,000 at some point shortly.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum (ETH)
The Merge will boost the value of Ethereum, making ETH a good buy now.
A key feature of Ethereum that makes it stand out from Bitcoin and other cryptos is its utility as a software network that developers can leverage to build and power new tools, apps, and NFTs. The Ethereum blockchain is a programmable computing platform where various software and applications can be built.
For instance, OpenSea, the world's most visited NFT marketplace that generated over $2 billion in revenue over the past year, along with the popular metaverse game Axie Infinity which generated roughly $1.3 billion in revenue over the past year, runs on Ethereum and the purchases are funded with ETH.
Around mid-September, Ethereum's major upgrade, the Merge, finally went live. The transition from Proof-of-Work to Proof-of-Stake protocol has enhanced the network, addressing the rising concerns about environmental impact, and has dramatically improved its transaction speeds. As the network’s ecosystem becomes even more popular with institutional investors and consumers, the demand for ETH would rise, making it the best crypto to buy even during a stock market crash.
ETH already has an array of use cases, and the list keeps growing. Since the Ethereum blockchain is currently the biggest NFT hub, the switch to a more sustainable protocol would further push its adoption and bandwidth of use cases.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Binance Coin (BNB)
BNB is expected to benefit from several partnerships and integrations in the future.
Binance Coin is an ERC-20 standard token built on the Ethereum blockchain, popularly known as the utility token for the popular Binance cryptocurrency exchange. However, BNB has proven to be a token with massive potential. It is used to pay transaction fees on the Binance Smart Chain, an ecosystem with quite a good number of projects in development.
After hitting an all-time high of $690.63 in 2021, BNB is trading at $268.76 as of writing, presenting a good opportunity for investors to buy the dip in the bear market. Binance Coin has been aiming to expand its ecosystem through stablecoins. Binance has also developed an ecosystem where any user can find multiple helpful things, from passive income to dApps, etc.
Binance is involved in a wide range of other utility-generating functions like liquidity financing, cryptocurrency derivatives, loans, NFTs, etc. BNB also fuels the Binance Smart Chain ecosystem, which is an independent blockchain network that supports several up-and-coming
tokens. Numerous new projects are being developed in the BSC network, eventually boosting BNB’s use cases and demand.
Additionally, Binance aims to become a super app with a partnership with Splyt crypto. The coalition would allow users to pay for taxi services and food deliveries with crypto using Binance Pay. Experts say that Binance already has over 90 million-strong user base across 50 countries worldwide. The partnership would now open the doors to a broad customer base.
Each trade that is carried out on the BSC should be settled in BNB. This has created an ever-growing demand for BNB. Binance will continue to expand operations and roll out capital expenditure in the future too.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
Diversification is a significant factor for crypto purchases and overall investment portfolio. Market crashes are the best opportunity to buy your favourite cryptos on the dip, and these are the top 3 cryptos to buy during a stock market crash.
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