Investing used to be a hobby for the wealthiest people while the rest of us relied only on our savings accounts. Now that the internet has opened the world of investing to anyone who cares to jump in, an innovative way to leverage the power of the digital age to buy cryptocurrency.
Cryptocurrencies burst onto the scene about a decade ago and have gotten lots of attention since then. Cryptocurrencies were developed on blockchain and were not backed by any external financial reference point. This decentralization made them exciting, but volatile and unpredictable. Most investors shied away from crypto as a serious investment. Ten years later, the power of decentralized markets has become clearer to understand and easier to measure. Most financial professionals know that crypto is here to stay, and is most likely going to be the currency of the future, potentially even replacing traditional government-backed and institutionalized currencies.
If you have been ignoring cryptocurrencies, this may be the time to try getting into the market. If you haven’t been following the development of crypto over the last decade or so, jumping in can feel intimidating since there has been so much rapid development and innovation. To get started, here are six cryptocurrencies to consider now that seem poised to gain value in the future.
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Bitcoin is the OG of cryptocurrency, and it remains a great place to use for investment. While no crypto is a safe investment for long-term goals, Bitcoin is as close to blue-chip as digital currency comes. Bitcoin’s market has actually expanded during chaotic times, and as more speculative and volatile coins come and go Bitcoin remains.
Second only to Bitcoin, Ethereum is a must-buy. With a tried and true brand name and a loyal investor group, ether is leading the way in decentralized finance (called DeFi). DeFi eliminates the need for banks and financial institutions during money exchange, making Ethereum Exchange into a worldwide free marketplace. While costs are still high, ether is poised to lead cryptocurrencies into their next iteration.
A player in the world of smart contracts and DeFi, Avalanche is emerging as a niche player. Values have risen dramatically since 2021 while investors are waiting for new technologies from Ethereum. Avalanche is winning on its low fees model and large market cap.
Solana is a top-ten crypto that has a fairly sized market cap, but most importantly keeps its network fees substantially lower than most other cryptos. These lower fees make Solana an attractive crypto to buy now.
Binance is the world’s largest crypto exchange, and Binance Coin is its native currency. Binance’s ability to revolutionize decentralized projects positions Binance Coin to potentially become the next Bitcoin.
FTX is a worldwide crypto exchange, focusing on institutional trading and derivatives. By mirroring more traditional financial markets FTX is building a powerhouse player as digital assets have become more attractive to traditional investors. Buying FTX is wagering on the effectiveness of its exchange platform, and so far that’s feeling like a sure bet.