Unsure about what the best cryptocurrency to buy is right now? Industry experts break it down for you with all the information you need to make an informed decision.
When it comes to investing in cryptocurrency, there are many different factors to consider because it is a very risky investment (be very careful and do your own research). Some people prefer to invest in the most established coins, while others prefer to take a more speculative approach and invest in newer coins with more potential.
So, what is the best crypto to buy right now?
This is a difficult question to answer, as there are many factors that you should consider. However, if you’re looking for some guidance, here are a few things to keep in mind:
1. Consider the Market Cap
One of the most important factors to consider when investing in cryptocurrency is market capitalization, or “market cap.” This is simply the total value of all the coins in circulation.
Generally speaking, the higher the market cap, the more established the coin is. For example, Bitcoin, the most well-known cryptocurrency, has a market cap of over $200 billion. On the other hand, newer coins like Cardano or Stellar have market caps that are around $10 billion.
2. Look at the Trading Volume
Another important factor to consider is trading volume. This is simply the amount of currency that has been traded in the past 24 hours.
Generally speaking, a higher trading volume is a good sign, as it indicates that there is more demand for the currency. However, it’s also important to look at the source of this trading volume. For example, if most of the trading volume is coming from one exchange, it may be more susceptible to manipulation.
3. Consider the Team Behind the Project
This is important because a strong team is essential for the success of any cryptocurrency project. When looking at a team, you should consider things like their experience in the industry, their track record, and the size of the team. Generally speaking, a larger team with more experience is better.
See Also: How to Choose the Best Telegram Crypto Trading Bot
4. Check Out the Roadmap
Finally, another important factor to consider is the roadmap. This is simply a plan that outlines what the team plans to do in the future.
A good roadmap will give you an idea of what to expect from the project in the future and whether or not they have a clear plan. It’s also important to make sure that the roadmap is realistic and achievable.
5. Do Your Own Research
Of course, the best way to figure out which crypto to buy is to do your own research. This includes reading whitepapers, following news sources, and talking to other investors. By doing your own research, you’ll be able to make an informed decision about which currency is right for you.
Here Are 8 Cryptos These Experts Are Buying Right Now:
To help you identify the best crypto to buy right now, we asked crypto experts and investment professionals this question for their best recommendations. From Battle Infinity to Ethereum, there are several cryptocurrencies that are seen as showing great investment promise for the foreseeable future.
1. Chainlink
Chainlink is one of the best cryptos to buy right now because it is a decentralized oracle network and has great potential over the years. Chainlink allows smart contracts on Ethereum to securely connect to off-chain resources like data feeds, web APIs, and traditional bank payments. This allows for the creation of complex contracts that can interact with the real world.
Also, Chainlink is used by major companies like Google, Oracle, and SWIFT. The Chainlink Network is growing rapidly and has a strong community behind it. The price of Chainlink has increased significantly in the past year, but it still has a lot of potential for growth. I believe Chainlink is a good long-term investment and believe it will continue to increase in value.
— Lorien Strydom, Financer.com
2. Ethos
One cryptocurrency that I think has a good chance of succeeding is Ethos. Ethos is a decentralized platform that is designed to make it easy for everyone to invest in crypto. With Ethos, you can safely store crypto in a wallet that is regulated by Ethos, and you can invest in a wide range of coins and assets through automated trading bots. Ethos is unique because it uses artificial intelligence and bot automation to help people make smart investment decisions. As more people start using Ethos, it could gain widespread adoption and start to increase in value.
— Ian Broderick, LLC Guyz
3. Cardano
One of the primary issues with cryptocurrency mining is energy consumption, which also impacts the cryptocurrency’s price. Therefore, in 2023, “Cardano” appears to be a more attractive alternative because it uses less energy when mining. AdaSwap is a framework that Cardano just made available in test form so that programmers may create distributed finance apps.
— Karen Cate Agustin, Investors Club
4. Bitcoin
According to the forecast, bitcoin will rise by around 26% to 53% in 2022. It’s also seen that at times bitcoin faces some downfall, but every time bitcoin falls the comeback is greater than before. Bitcoin has seen only a short stretch, amid the ups and downs bitcoins current price is a long way off from the latest all-time high hit in November. As with most cryptocurrencies, BTC runs on a blockchain and distributed network of thousands of computers. Bitcoin’s price has skyrocketed as it is kept secure and safe from fraudsters. So, I would recommend the safe side to invest in the crypto world is Bitcoin.
— Brigid Davey, Nimble
Related: Top 10 Bitcoin Alternatives
Want to know how to buy and invest in cryptocurrency in Australia.
There are many major cryptocurrencies available to invest in Australia including Bitcoin, Ripple, Ethereum and more.
This guide will help you learn how to buy your desired cryptocurrency and make money easily.
For more information on crypto investment, you can also talk to a crypto trading agency Coinstash in Australia.
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