Invest in these 5 best cryptos now and never miss out on the opportunity to buy the dip.
The crypto market has been experiencing widespread turbulence after the Fed fired up rates last week. This major crash has almost all the cryptocurrencies in a tailspin, making investors nervous. But given the old investment adage “buy the dip,” this could be the right time to buy your favorite crypto tokens. Here are the best 5 cryptocurrencies to buy on the dip now for profitable returns.
Considering BTC’s price history over the years, Bitcoin certainly tops the list of the best cryptocurrencies to buy on the dip.
While some investors are mourning their losses after last week's cryptocurrency crash, others are finding this the right opportunity to buy coins like BTC. Bitcoin enthusiasts are planning to take the opportunity to buy more BTC in the hope of cashing in on an equally spectacular recovery.
Analysts say that Bitcoin has survived corrections of around 80% in the past. Looking at the price history of the asset class, it has always managed to bounce back from weak periods to reach new highs.
Moreover, Bitcoin has the potential for real-use cases, especially in less developed countries, where the remittances carry hefty fees and slow processing times. BTC is one of the best cryptos as tons of financial institutions are backing the crypto, pushing its adoption worldwide.
Ethereum is in the process of a significant upgrade, making ETH one of the best cryptos to buy on the dip.
Ethereum, the world's second-largest cryptocurrency, has plunged drastically to its lowest. But the crypto seems to be slowly rebounding. Ethereum has positioned its place as one of the most vital investments in the crypto space, primarily because it's the largest platform for decentralized applications (dApps), which include everything from non-fungible token (NFT) marketplaces to decentralized finance (DeFi) applications and more. With this, Ethereum has the potential to revolutionize a variety of industries, from banking to finance to the collectibles market.
Ethereum seems to be one of the best cryptos to buy on the dip as the ETH is grappling with anticipation for its massive software upgrade, Ethereum 2.0. Investors and developers call it “the Merge,” and is expected to happen by the end of the year. The switch from Proof-of-Work to Proof-of-Stake will change how transactions on Ethereum are ordered, making it more efficient and sustainable for widespread use. Once the update is complete, it will be significantly faster and more affordable.
Avalanche’s ecosystem is fundamentally strong, adding AVAX to the list of the best 5 cryptocurrencies for profitable returns.
Avalanche is a smart contract-based blockchain network that focuses on transaction speed, low pricing, and environmental friendliness. One key point that makes AVAX stand out from the rest is its continuous growth despite the slump in the cryptocurrency sphere.
The purported goal of Avalanche is to create a flexible and scalable blockchain that maintains decentralization and security. We recommend that investors buy Avalanche on the dip because the token’s growing popularity attracts Ethereum-based DeFi protocols, including lending platform Aave and liquidity pool network Curve, to its network.
Moreover, thanks to its native Snow protocol that combines the properties of classical consensus protocol and Nakamoto consensus, Avalanche aims to achieve low latency, high transaction throughput, and scalability. Additionally, it is also one of the fastest smart contract platforms in the blockchain industry, as measured by time-to-finality.
The dip in Cardano is an opportunity to buy ADA before it takes off.
Cardano is one of the early frontrunners for decentralized finance (DeFi) market share. It came into the crypto sphere as one of the first PoS blockchain protocols, with a strong focus on sustainability. A major milestone for Cardano implemented last year was the execution of smart contract functionality. This allowed developers to build decentralized applications right on the blockchain, using the Plutus language. Currently, over 2,300 Plutus smart contract scripts exist on the blockchain.
ADA is one of the best cryptocurrencies to buy on the dip because it is planning to get involved in the NFT marketplace. This has become a reality with the launch of SundaeSwap. Additionally, with a new metaverse application called Pavia, there’s a lot to be optimistic about ADA.
Shiba Inu (SHIB)
SHIB is one of the best meme cryptos to buy for profitable returns in the long run.
Rounding off the list of the best 5 cryptocurrencies to buy on the dip is Shiba Inu. Shiba Inu is a breakout meme token that has garnered the interest of the crypto investment community. The price of SHIB has jumped to new highs after the Robinhood listing. The token has the capability to provide users with massive earning potential.
Moreover, with the rising popularity of its decentralized exchange, ShibaSwap, the price of SHIB will eventually see new highs. ShibaSwap has also given a tangible use case for the coin. Additionally, there are a few high-profile additions to the Shiba Inu ecosystem. These new features include the Shibarium, a much-anticipated layer-2 solution that will slash gas fees, and Shiberse, a metaverse that can boost Shiba Inu to compete against top crypto metaverses.
The market crash and high volatility is quite nerve-wracking for investors. But it does present an opportunity for investors to buy the dip i.e. invest when prices are lowest. So if you are looking to invest smart, these are the best 5 cryptocurrencies to buy on the dip.