The market of digital currencies is very volatile. Take any of them: its price crawls up like that of real estate or gold. On the one hand, it is because the community’s trust in crypto grows each year, and crypto holders have learned to recognize scams from genuinely remarkable projects. On the other hand, it is not only the inherent value of crypto that keeps pushing its price up, it is the ever decreasing value of fiat money. Money becomes cheaper. Digital coins, compared to money, become more valuable.
Of course, it does not mean that no matter which coin you buy, you are guaranteed to make a profit. Follow the general advice that we provide herein. It will guide you no matter what year or day it is, or what crypto you are considering as your next investment. Yet, if you’re wondering what crypto to buy, we have the answers below.
What crypto to buy now: 10 trending coins
In trading, one cannot go far without a disclaimer: spend only what you can afford to lose.
Robert Kiyosaki said:
It takes financial intelligence to make the right investment decisions. Like any other type of intelligence, it must be trained and exercised. Financial losses are part of the training. With that attitude in mind, let’s proceed.
The trending coins have gained their reputation for years of faithful service. They are not going anywhere anytime soon. So if you’re wondering, what crypto to buy now, the ones in the list below are generally a good choice if you have patience to put them aside until the day their price spikes up.
1. Bitcoin (BTC)
If you want to start small, do not go for it. We’ve put it on the list merely to demonstrate the power of crypto as an investment.
In early 2017, BTC prices fluctuated around $900. The same year, in December, it hit an astonishing $20,000 before dropping back to $3,500 some time later. As of the time of writing (late February of 2021) its price is $49,000. Now, it’s not too bad, to invest nine hundred and get back forty grand, is it?
There’s a downside to it: bitcoin has a high entry point. To buy any meaningful amount, one must have quite a lot of cash. Bitcoin is not beginner-friendly and crazily volatile. By the way, here’s a quick tip what crypto to buy today: do not buy anything that is at its highest level now.
Traders guess that BTC price will spike up to about $150,000 this summer.
2. Ethereum (ETH)
Ethereum is something altogether different from bitcoin family cryptos. Bitcoin is just a blockchain-based digital currency. Ethereum is an ecosystem that enables Smart Contracts and Decentralized Applications and is on the way to implement a lot more.
If you care about sustainable development and ecology, Ethereum’s got great news: they plan to upgrade the consensus algorithm from proof-of-work (PoW) to proof-of-stake (PoS). Have you ever wondered how much electricity bitcoin mining consumes? More than Argentina.
3. Bitcoin Cash (BCH)
Bitcoin arrived on the market before any other cryptocurrency, so no wonder that it had some flaws. Namely, network scalability and speed. BCH is one of the most popular BTC forks that addresses the speed issue by increasing the blockchain block size to 8MB.
4. Litecoin (LTC)
Another bitcoin-inspired crypto addresses the huge size of bitcoin’s blockchain and “mining elitism”. At the time of writing, BTC blockchain weighed 300GB compared to 30GB of LTC. The fact that mainstream PCs are able to mine it is not a game-changer though. The times of mining are long gone for the ordinary folks, so you won’t mine much.
5. Tron (TRX)
Tron network provides a platform for creators to monetize their content, an exchange, and access to decentralized apps and games. Its dedicated development team has set a goal to outrun Bitcoin and Ethereum in terms of adoption and applicability. Considering that the platform has gained recognition from Samsung, they are doing well so far.
6. Tether (USDT)
Tether is basically a USD Token. They are meant to be bought and sold “as if” it was a dollar, so their price is linked to the dollar price. As a result, the buyers enjoy price stability and use Tether to buy and sell other cryptos.
7. Monero (XMR)
Monero is the best example of a true radical-left crypto. Being open-source, it gives all the power to improve privacy protection algorithms and optimization to the community. That much freedom requires equally high levels of responsibility, which Monero users sometimes lack.
8. DogeCoin (DOGE)
Didn’t expect to see this one, did you? After Elon Musk’s single tweet that “Doge is underestimated”, its price bloated 359% in four weeks. So much for a joke coin. Doge does not present much in terms of decentralization, energy efficiency, or value (because the emission is still too high / mining is too easy). Unless its creators revise and update the underlying technology, its price will only hang on Elon’s authority.
9. Chainlink (LINK)
The communication of a blockchain network with the outside world used to create security issues, so various blockchains and cryptocurrencies and services that ran on them were isolated. Chainlink introduced a technology that secures transactions and all information exchange in general between a given blockchain and another service. Purchasing LINK tokens is basically like buying company shares.
10. Cardano (ADA)
Just like any other crypto, Cardano aims to do better than its predecessors. Their team focuses on scalability and speed that are capable of processing all financial transactions in the world regardless of their number or transfer volumes. They utilize smart contracts to enable meaningful, safe, and legal transactions, including those between different blockchains.
What crypto to buy right now: the general rock-solid advice
Here is how you know that a given coin is not another cheap scam.
- There is a crypto community celebrity behind it. Jed McCaleb worked on Ripple before moving on to Stellar. Charles Hoskinson, the co-founder of Cardano, was one of the five founders of Ethereum.
- There’s a powerful idea behind it. Crypto founders who stand out with a benevolent goal (e.g., trade decentralization or privacy protection) gain massive following. Even when the founders leave, the community will keep supporting the idea behind a given
- At the very least, it has a whitepaper (that does not look like it was written by an entry-level Philippine copywriter). Look at Cardano network: its whitepaper is a 44-page professional research.
- It circulates on your favorite exchange; it is exchangeable for fiat money of your county of residence; the trader who buys it has high reputation. Alternatively, there’s a cryptocurrency exchange terminal In your vicinity that accepts it.
- Physical or intellectual value can be bought for it directly. If you can trade crypto for local currency and buy yourself a coffee – good. If a coffee shop accepts crypto – awesome! Being able to monetize memes or any other form of content is a pleasant bonus, too.
Lastly, if you’re concerned about what crypto to buy right now: buy it if you believe it’s at the lowest price.
The coins that have just been released are certainly at their lowest historical price (provided that they also comply to the abovementioned requirements), so we have gathered a few examples of promising coins.