The Best Cryptocurrencies To Buy Now - Our Picks
Bitcoin - Top choice for investing in cryptocurrency
Ethereum - Coin with many use cases to buy now
Binance coin - Utility token that is a great investment now
Cardano - Investors' favourite coin to buy now
Polygon - Well-positioned to grow in the future
A Closer Look At The Best Cryptocurrencies To Buy Now
Bitcoin (BTC)
Bitcoin has been around for the longest of any cryptocurrency. So it’s easy to see why it’s the leader, with a price and market cap much higher than any other crypto investment options.
Many businesses already accept Bitcoin as payment, which makes this cryptocurrency a smart investment. Visa, for example, transacts with Bitcoin. And after a four-year cryptocurrency hiatus, Stripe, through its partnership with OpenNode, allows merchants to settle transactions and convert payments to bitcoin. The larger banks have begun to incorporate Bitcoin transactions into their offerings, as well.
While Tesla accepted bitcoin only briefly, it might again if mining it becomes more environmentally friendly. In a step toward that end, Blockstream and Block, formerly known as Square, are launching a bitcoin mine in Texas that will be fully powered by Tesla’s solar array and Megapack battery, CNBC reported last April.
By the turn of the decade, BTC’s price is expected to have rallied by more than 5000% to reach $1 Million. And if this comes true, any Bitcoin investment you make today will grow by a similar margin. Lastly, we consider it worth buying because it is easily accessible and massively liquid – having been listed by virtually all crypto exchanges and trading platforms.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum (ETH)
Ethereum is a network that allows developers to create their own cryptocurrency and deploy smart contracts utilizing the network. While it is far behind bitcoin in value, it’s also far ahead of the other competitors.
Even though it came out years after some other cryptocurrencies, it has far exceeded its place in the market because of its unique technology. It’s currently the most popular blockchain and the second-largest cryptocurrency behind bitcoin.
ETH stands to gain even more ground now that an upgrade nicknamed “The Merge” has fully deployed. The September 2022 upgrade shifted the network to a proof-of-stake-based consensus that will reduce the number of coins and has rendered Ethereum mining obsolete. The Merge has also drastically reduced Ethereum’s energy consumption.
Although ether doesn’t have the widespread acceptance of bitcoin, traditional companies are coming on board. Fidelity, for example, is bulking up its tech workforce to create the infrastructure needed to offer Ethereum custody and trading services to its customers, according to reports. Now is a good time to invest in ETH as it is one of the top cryptos of 2023.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Binance Coin (BNB)
Because of its performance over time, Binance coin has proven to be one of the more stable investment options. It’s the native token on Binance, which is the world’s largest cryptocurrency exchange, and on Binance.US, the version U.S. residents must use. But despite its extensive functionality and the coin’s success in Binance sub-projects, the binance coin is still a highly volatile investment.
One thing working in BNB’s favor is that Binance burns or destroys coins once per quarter. The most recent burn, which Binance reported on Jan. 17, reduced the coin supply by over 2 million tokens — nearly $600 million worth — didn’t affect prices in the short term, but managing the number of tokens can have a positive effect over time by creating scarcity. BNB has a total supply of 200 million coins, 79% of which are circulating.
It’s worth noting that Binance has taken a leading role in stabilizing the crypto industry following the collapse of the FTX exchange. It has devoted $1 billion to a recovery fund established to keep struggling players afloat, CNBC reported.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cardano (ADA)
The Cardano network has a smaller footprint, which is appealing to investors for several reasons. It takes less energy to complete a transaction on Cardano than on a larger network like Bitcoin. This means transactions are faster and cheaper.
In 2021, Cardano launched a “hard fork,” an upgrade that increased functionality — in this case, enabling smart contract deployment. Another hard fork, this one called Vasil, launched in September 2022 and should improve the blockchain’s scalability.
Cardano recently launched a test version of a platform called AdaSwap where developers can build decentralized finance apps. AdaSwap could elevate Cardano’s status as a Web3 network and drive up the price of its coin. For these reasons, we consider ADA to be one of the top cryptocurrencies to buy now.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Polygon (MATIC)
Polygon was created by a development team that made significant contributions to the Ethereum blockchain platform and was designed for Ethereum scaling and infrastructure development, according to CoinMarketCap. As a “layer two” solution, it expands Ethereum into a multi-chain system, improving transaction and verification speed.
Polygon has backing from the Binance and Coinbase cryptocurrency exchanges. Its token, MATIC, is used for payment services, transaction fees, and as a settlement currency.
In July 2022, Polygon announced in a press release that it had launched Polygon zkEVM, “the first Ethereum-equivalent scaling solution that works seamlessly with all existing smart contracts, developer tools, and wallets.” It does this with a type of cryptography called zero-knowledge proofs, which lower transaction costs and increase throughput.
Polygon currently hosts over 37,000 decentralized applications, including some from companies like Meta and Stripe — about a 400% increase since the beginning of the year, according to a tweet from the Polygon Twitter account. In addition, Polygon fully supports the tether stablecoin, which could contribute to the network’s future growth. Another plus is its investment in carbon neutrality, which occasionally has prompted price rallies.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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