With absurd levels of money printing and inflation across the globe, many investors are wondering if crypto will replace fiat.
Whether it does or not, it’s clear that crypto is here to stay. As a result, many investors are trying to figure out what are the best cryptos to buy now.
This quick guide will help you evaluate what crypto to buy now that’ll still have relevance in the far future. Let’s explore the best crypto to buy now.
Bitcoin
While crypto prices have gotten slammed lately, Bitcoin is a great cryptocurrency to buy for the long-term. The main reason is that Bitcoin is the world’s first decentralized money that is not controlled by a central government.
It also has other incredible effects, such as being immutable (which means it is unable to be changed over time), being censorship-resistant, and having a capped supply.
You don’t have to stress about buying whole Bitcoins if you can’t afford them. You can start by buying fractional shares of a Bitcoin until you can afford a whole one.
The satoshi is the smallest unit of the bitcoin that you can buy and it is a one hundred millionth of a Bitcoin. Named after Bitcoin’s inventor, a person (or group of people) who went by the pseudonym Satoshi Nakamoto, a satoshi is incredibly inexpensive to buy.
This term is why you will hear crypto investors talking “stacking sats”. A satoshi currently costs less than one cent, only $0.00019 at the time of this writing.
At its core, Bitcoin is a type of global, government-free money that can be exchanged anywhere worldwide. You can think of it as “money for the people, by the people.”
Ethereum
Like Bitcoin, Ethereum is part of a blockchain network and is decentralized from any government or corporation. Blockchain refers to information that is chronologically sorted into blocks and every transaction is recorded.
While Ethereum is not as popular as Bitcoin at this time, it is the second most popular cryptocurrency on the market. Ethereum is also much younger than Bitcoin. Bitcoin was created in 2009, while Ethereum get developed until 2015.
Most importantly, Ethereum is designed for functional applications, while Bitcoin is designed to be a store of value. Specifically, information on the Ethereum blockchain allows developers to create games and apps known as decentralized applications, or “dApps”.
The original purpose of Ethereum was to act as a type of currency for these apps, but it has since broadened its horizons.
Today, Ethereum is the most common network on which DeFi applications are being built and most non-fungible token (NFTs) are created and stored on the Ethereum network.
Put simply, Ethereum powers a wide range of NTF purchases and smart contracts. If want to buy these types of digital assets and use these services, then you’re going to need some Ethereum in your wallet.
Aave
It’s clear that Decentralized Autonomous Organizations (DAO) will have increased significance in the future. As a result, you’ll need to buy crypto that’ll work in these virtual jurisdictions.
Specifically, buying AAVE tokens is similar to buying shares of a company. Owning it lets you to invest and bet on the future of DeFi technology.
Aave is one of the best options available now. It’s a type of decentralized finance that’s available to the average consumer.
The average price fluctuates around $65 to $90 per token. This makes it ideal for the average investor. You can buy Aave using an online web exchange, so it’s easier compared to some other altcoins.
USDC
USDC is a cryptocurrency that is pegged to the U.S. Dollar. Meaning, one USDC has the value of one U.S. dollar.
USDC is a compelling alternative if you don’t want to hold large amounts of cash or if you want to send large amount of money to someone in another country quickly using the blockchain.
In many cases, this is easier to send USDC than it is to send U.S. dollars through traditional banks, since wire transfers are slow, inexpensive, and can be held for long periods of time by either the sending or receiving bank.
Specifically, USDC can facilitate making international transactions with U.S. dollars with ease, speed, and low transaction costs.
The Best Cryptos to Buy Now?
The best cryptos to buy now are going to remain valuable for decades, if not centuries, to come. You many want to buy one or more cryptocurrencies if you are concerned about inflation continuing to affect the U.S. dollar or you distrust the long-term value of your government-issued (fiat) money.
Unfortunately, of the 700 or so fiat currencies that have been created since humans came into existence, all of them have eventually gone to zero. Meaning, they have declined in value until they went out of existence.
Modern examples of this are the Argentinian Peso, the German Papiermark, the Zimbabwe dollar, the Peru Sol, and the Chilean Escudo (Chile), to name a few.
Ready to learn more about cryptocurrencies and digital investing? Explore the Crypto Section of this blog.