Invest in these best 5 cryptocurrencies in May 2022 and beyond for long-term yields.
Cryptocurrencies have taken the world by storm, and there is no stopping them. Everyone is jumping on the crypto wagon for short-term profits or long-term holding, further driving it to mainstream adoption. As a result, Cryptos are here to stay and are a great investment option.
While short-term crypto traders have made quick profits, a long-term cryptocurrency investment strategy is considered to be much better. Even a budget as low as $1000 could help a first-time crypto investor get started on this journey. Based on various key considerations, here is a list of the top 5 cryptocurrencies to buy with $1000.
1. Bitcoin (BTC)
Several analysts estimate that BTC’s price will rise through 2022, reaching as high as $250,000 by 2025, making now a good time to invest in BTC.
Bitcoin, the first and most well-known cryptocurrency, is undoubtedly the top cryptocurrency. The main reason behind Bitcoin’s popularity is that investors believe the cryptocurrency will appreciate in value over time due to its limited supply of 21 million. This is strikingly opposite to fiat currencies, which do not have a limit on their supply.
Created in 2009, Bitcoin is the first cryptocurrency and is often referred to as digital gold. BTC is also the dominant crypto and the trailblazer of the crypto sector – its price, market capitalization, and volume are all significantly higher than any other crypto.
Although thousands of different cryptocurrencies are available in the market, Bitcoin still accounts for nearly 40% of the total cryptocurrency market capitalization, making BTC the top cryptocurrency to buy with $1000.
2. Ethereum (ETH)
Analysts predict that ETH prices will further shoot up post a successful upgrade this year.
Second only to Bitcoin, both in price and market cap, Ethereum is another highly preferred crypto investment for many. Along with being a popularly circulated crypto asset, Ethereum is famous for its revolutionary network that lets developers build their cryptocurrency through its ERC-20 compatibility standard.
In addition to providing a platform for creating various cryptocurrencies, Ethereum also enables the execution of decentralized smart contracts. DeFi (Decentralized Finance) and NFTs (Non-Fungible Tokens) are yet other concepts that have increased the value of Ethereum over the years.
Ethereum touched an all-time high of over $4800 in late 2021 and started 2022 at the $3600 bracket. Ethereum recorded a growth of 160% last year and is expected to hit $6,500 this year. This makes ETH one of the top 5 cryptocurrencies to buy with $1000.
3. Uniswap (UNI)
With the launch of its new protocol and its native token UNI, several crypto enthusiasts predict that Uniswap is going to surge in 2022, making now a good time to invest $1000 in this crypto.
Decentralized crypto exchanges are growing at an exponential rate today. One of the exchanges that gained much popularity both as an exchange and a token is Uniswap (UNI). It is an entirely decentralized crypto exchange for cryptocurrencies that runs on the Ethereum blockchain.
Some of the significant features of Uniswap compared to other exchanges is that it has user-friendly operations, provides users control over their private keys, lowers fees, and provides high liquidity.
UNI is a pure governance token, facilitating users with voting rights. It provides users an opportunity to participate in fundamental development decisions. UNI is one of the best cryptocurrencies because it represents Uniswap as a publicly owned and self-sustainable financial infrastructure. Its indestructible and autonomous qualities make it one of the top 5 cryptocurrencies to buy with $1000.
4. Sushiswap (SUSHI)
Investing in SUSHI now could help you generate massive returns in the future.
SushiSwap (SUSHI) is a DeFi platform designed to improve on other Ethereum dApps. Specifically, SushiSwap has introduced additional community control mechanisms and DeFi features compared to other protocols. It is an automated market maker (AMM) that helps decrease centralization in the market.
Unlike centralized exchanges that depend on an order book to link traders and dictate pricing, AMMs utilize smart contracts to build markets for any two crypto tokens. Sushiswap enables any project to obtain liquidity through smart contracts known as liquidity pools. Experts believe that AMMs are ideal places to acquire scarce and low liquidity tokens.
SUSHI is one of the best cryptos with a unique value proposition. Its decentralized nature makes it one of the top cryptocurrencies to buy with $1000.
5. Shiba Inu (SHIB)
Shiba Inu (SHIB) is one of the best meme cryptos that has captured the interests of the crypto investment community.
Many view SHIB as a knock-off of Dogecoin. Developers created both these projects with a light-hearted approach to spreading awareness.
Notably, there are many similarities between Doge and Shiba Inu. However, the latter has gained a reputation as the "DOGE killer," attracting a lot of attention. It has emerged as a popular choice among investors, especially in the wake of a bear market in assets like Bitcoin and Ethereum.
Given that Shiba Inu is pegging its success on Dogecoin, trying to replace it in the long haul, it has received a following from many impressive personalities. Some celebrities that have been behind Dogecoin and who also might take an interest in its supposed successor are Guy Fieri, Mark Cuban, Elon Musk, and a few more. With such notable names behind a project, one can be sure that it has a very high chance of doing very well in terms of its value. These factors make SHIB one of the top 5 cryptocurrencies to buy with $1000.