For most of 2022, cryptocurrencies have emulated the stock market to a certain extent: If stocks go up, crypto goes up more and vice versa. Unfortunately, that has not been the case this year, as stocks haven’t risen too frequently.
Although crypto has fallen by nearly 60% this year, it bounced back in September, only losing 3.1% as opposed to the stock market’s 9.3%. As most of us know, cryptocurrency is incredibly volatile, so there’s no telling what will happen in the future; however, if you’re a risk-taker contrarian, the remaining of 2022 might be a good time to invest in some of the following cryptocurrencies:
Best crypto to buy now – # 1. Bitcoin
Bitcoin is the go-to cryptocurrency for beginners wanting to get their feet wet in this industry. With BTC being the first cryptocurrency and having the largest market capitalization, it has a robust track record and well-known brand name within its asset class. Unlike other cryptocurrencies, Bitcoin doesn’t have a large community or decentralized finance network that it’s integral to.
BTC is frequently compared to digital gold or an international currency, and for good reason. Only 21 million BTC can ever exist, and 19.2 million of those are already being used. Its value comes from people’s trust in it – similar to how any other currency works. However, what sets BTC apart is that its supply cannot be artificially increased the way governments do with regular money.
Best crypto to buy – #2. Ether
Bitcoin isn’t the only digital currency in stratosphere. Ether, the native coin of Ethereum blockchain is also up there. A favorite among users and developers, Ethereum’s ecosystem quickly became an early haven for decentralized finance or DeFi applications. Unlike Bitcoin network, Ethereum offers real-world utilities outside of payments such as issuing smart contracts and non-fungible tokens which launched multibillion-dollar industries practically overnight.
One frequent criticism against cryptocurrency is its lack of energy efficiency. Ethereum directly addressed that issue in September when it finished an event called “The Merge.” The Merge switched Ethereum from a proof-of-work to a proof-of-stake consensus, which then cut down on expected energy consumption by more than 99%.
Best crypto to buy – #3. Solana
Another popular DeFi blockchain is Solana, which shares many similarities with Ethereum. However, one of Solana’s key advantages over Ethereum is its much lower transaction fees. While Ethereum has plans to reduce gas fees in the future, Solana already enjoys significantly cheaper fees than Ethereum.
This makes it an attractive option for developers and users who are looking to save on transaction costs. So until Ethereum reduces its fees, something that experts don’t anticipate happening until 2023, Solana will have a better chance to catch up. Currently, Solana is being sold for $34 per coin.
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