This article covers seven of the best cryptos to buy on a long-term horizon
- Bitcoin (BTC-USD): The OG of the crypto space, which has established itself as a true financial asset
- Ethereum (ETH-USD): Crypto with the most use cases with the potential to overtake Bitcoin
- Algorand (ALGO-USD): Blockchain network focused on solving the industry trilemma
- gimbal (ADA-USD): Digital asset with the most compelling development plan
- Solana (SOL-USD): by its speed and scale, it has become a facilitator of the development of a digital economy
- Decentralized (MANA-USD): Metaverse token with huge growth potential ahead
- Peas (POINT): Blockchain focused on interoperability that could benefit enormously from Web3.0
Cryptocurrencies have lurked in the risky investment environment. After surpassing $3 trillion last November, the entire sector has lost more than 50% of its value, keeping investors away.
The crypto market has had an unforgettable five months, with massive declines coming in May. Bitcoin fell below $26,000 due to weaknesses in the macro economy.
Additionally, rising interest and inflation rates have also impacted the stablecoin market, much to the surprise of investors. Nonetheless, volatility has been a key feature of the industry, and those looking to bet on the sector should be aware of the risk involved.
Higher risk, however, brings greater rewards, and investors with a long-term mindset can benefit immensely.
There are many digital assets that have immense utility in the real world and offer enormous potential for growth.
Best cryptos to buy: Bitcoin (BTC-USD)
bitcoin (BTC-USD) is perhaps their first exposure to the nascent asset class for those new to digital currencies. BTC has a first-mover advantage in a fast-moving industry where longevity is remarkably relevant.
Bitcoin has proven its resilience over the years amid multiple pullbacks and bounces. Moreover, its wide recognition during the pandemic years made it a bona fide investment.
Bitcoin has quickly become a true financial asset as an expanding infrastructure of products and services backs the crypto giant. Fintech companies such as PayPal accept payments in BTC, as do several of its peers. There are Bitcoin-related exchange-traded funds, and as smart money is pouring into the asset across the globe. So, despite the volatility, BTC-USD has generated stunning returns for its investors and will prove to be an incredible asset in the long run.
Ethereum (ETH-USD) is the second most popular asset in the field of digital currencies. It presents itself as an arguably more lucrative investment than BTC due to the long list of real-world use cases.
ETH powers some of the most powerful and promising technologies in the crypto industry. It is essentially a smart contract platform that makes it easy to develop everything from non-fungible tokens (NFTs) to DeFi applications.
The Ethereum network is moving towards a proof-of-stake model, which has been covered endlessly over the past year. This decision will generate energy efficiency, significantly reduce transaction costs and make the blockchain faster. The update could be massive for ETH and could help it grow incredibly over the next few years.
The rollout of updates has been repeatedly delayed, which has allowed rivals Cardano and Solana to gain market share. Nevertheless, Ethereum’s positioning remains solid, and it presents itself as a long-term game.
Best cryptos to buy: Algorand (ALGO-USD)
Smart contract platform Algorand (ALGO-USD) aims to become the face of DeFi with its unique competitive advantages.
First, it has a super-fast platform that can efficiently transact in four seconds. Usually, a cross-border transaction can take a week to settle.
In addition, there is the cost per transaction, which is significantly lower than transfer fees. Also, the network is big on interoperability, to ensure blockchain-based Defi goes mainstream.
Therefore, it effectively solves the blockchain trilemma, which is one of the major talking points in the industry. Therefore, it is likely that ALGO-USD could potentially explode in the coming years.
gimbal (ADA-USD) is a blockchain network that offers the greatest potential for growth in the coming years. It has the most compelling development plan in the industry, with the end goal of being a completely self-contained network.
The crypto giant hit a milestone last year when it achieved smart contract functionality, allowing developers to build decentralized applications. Over 2,000 smart contracts exist on the network and will continue to grow based on new updates.
Moreover, the network will become much faster thanks to its hydra off-chain scaling solution which could process more than 1,000 transactions per second. Cardano can process 250 transactions per second, which is still significantly higher than its peers. With the completion of its update cycle within the next two years, ADA-USD could embark on a monumental bull run.
Best cryptos to buy: Solana (SOL-USD)
Solana (SOL-USD) has often been referred to as the “Ethereum Killer” for its popularity as a faster and cheaper alternative to other crypto projects.
It quickly established itself as a major player in the sector and has become a facilitator in the development of a digital economy. Several NFT projects are launched on the network every day, while Solana Ventures funds the expansion of the SOL ecosystem.
Last month, the Solana NFT market jumped 91% in value on a sequential basis. In addition, more than 800 daily programs are broadcast on the network, compared to only 64 in June last year. Additionally, its most popular crypto wallet grew to 2 million users in six months.
Decentralized (MANA-USD) is perhaps the best bet if you are interested in the real estate sector of the metaverse. It showed signs of viability and allowed investors to buy effectively with confidence.
It is a very fascinating project that focuses on social interactions between users and real partnerships. The project is built on the Ethereum blockchain and features an expanding virtual economy. It is also a Decentralized Autonomous Organization (DAO), allowing users to use MANA to vote on several governance issues, including their development roadmap and fee structure.
The metaverse could be the future of communication and advertising. Big brands are already looking to establish their dominance in the industry, which bodes well for MANA and other metaverse coins. Last year, virtual land sold for $2.43 million on Decentraland, a testament to its growing popularity.
Best cryptos to buy: Polkadot (POINT)
Peas (POINT) is a protocol that effectively bridges the gap between multiple blockchain platforms. It facilitates the communication of blockchain networks to build a decentralized web.
By connecting networks with specialized coins, the platform can effectively bring out the best qualities of each contributing currency. As a result, developers can seek to develop robust applications that would not have been possible otherwise.
Web3.0 will have a lot to do to shape the future of Polkadot. In the age of Web3, users will have greater control over their content and significantly better monetization opportunities. DOT co-founder Gavin Wood believes that Polkadot is central to the Web3 vision. Once the Web3 industry starts to pick up speed, Polkadot can indeed be a major cog in the machinery, skyrocketing its price.
As of the date of publication, Muslim Farooque held a LONG position in SOLANA AND ETHEREUM. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.