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Best Cryptocurrencies to Buy Today

The cryptocurrency market, like any financial market, is ever-changing and constantly bucking the predictions of so-called analysts. This makes it hard to nail down any sound advice for where you should invest and which crypto coin you should purchase.

That said, there are a few guidelines that you should follow, most of which can be chalked up to doing your research. A large part of said research is to look for yourself at what cryptocurrencies have performed well in recent memory.

Here are some tips to keep in mind when you’re choosing which cryptocurrencies to invest in:

  • Consider what your investment goals are. Are you looking to invest for the long term or only short term? Are you looking for high-risk, high-reward investments or more conservative investments?
  • Do your research. Learn about the underlying technology behind each cryptocurrency project and, while you’re at it, the team powering the coin. Look at the project’s roadmap and see what it plans to accomplish in the future. Don’t just follow a trend by the numbers. See if it’s something you believe in and find has intrinsic value. This is a sound move for any financial investment.
  • Invest in a diversified portfolio. This is true of any financial investment and it’s true in crypto. Don’t put all your money eggs in one financial basket. Spread your investment across a variety of different cryptocurrencies. Don’t treat it like a casino because it can be as unforgiving as the dealers and pit bosses.
  • Finally, be aware of the risks. This should go without saying, but investing in cryptocurrency is risky. The market is volatile and prices fluctuate wildly. We’ll mention this again down below to really drive the point home. Redundancy is necessary when the information is vital.

Yes, it can be overwhelming to start looking at the thousands of crypto coins out there, but don’t worry. To help you out, we’ve compiled a list of some of the best cryptocurrencies in the market in the current year, 2023.

There are numerous factors you can look at that would determine how a cryptocurrency is performing. We think it’s worthwhile to look at factors like market capitalization, community support and development activity. For the purposes of this article, that’s what we considered in compiling this list.

First, a little disclaimer is in order. This is not financial advice and should not be taken as such. The cryptocurrency market is very volatile and should only be invested in at one’s own risk.

Ok, now that that’s done, let’s get started.

Bitcoin (BTC)

Bitcoin is the original cryptocurrency or the OG crypto. Often, people who don’t understand the crypto sphere simply refer to everything as Bitcoin. This obviously is inaccurate, but it does indicate how much Bitcoin has been consumed by the zeitgeist. It’s the “Google” or “Kleenex” of crypto. It’s essentially synonymous with it.

It also remains the most popular and well-known coin in the market. As of now, and most likely for the near future, it has the largest market capitalization owing much to its time in the market and faith instilled in it by users. Part of the testament of strength of any currency, not just crypto, is adoption by business. Bitcoin is currently accepted by more than 15,000 merchants or businesses.

According to a survey conducted by Deloitte, 75% of retailers plan to join Starbucks and AT&T in accepting some form of cryptocurrency in the next two years. You can be sure Bitcoin will be on that list of acceptable forms of payments.

Ethereum (ETH)

Ethereum is the second-largest cryptocurrency by market capitalization. It is a decentralized platform that enables developers to build and deploy smart contracts. Smart contracts are self-executing contracts that can be used to automate a wide range of transactions.

If you go by the sheer value of an Ethereum coin, it’s second only to Bitcoin. It also tends to rise and fall with Bitcoin. With that in mind, you can think of it as being tied to the ebb and flow of the OG coin and so buy (or sell) accordingly.

The question you’re probably asking yourself is, “What’s the difference between the two coins”? Well, the market cap is quite different, but also the Ethereum network is based on a completely different premise than that other superior coin. Ethereum isn’t looking to only be a direct currency like fiat or Bitcoin. It’s expanded to include use of the blockchain in creating and protecting financial contracts and other applications.

Tether (USDT)

We’d be remiss if we didn’t include a stablecoin on this list. What is a stablecoin? As the name suggests, it’s a crypto coin that is designed to be relatively stable. Most crypto, including Bitcoin and Ethereum, tend to be very volatile.

A stablecoin like Tether is tied to another currency or commodity and so establishes its value and stability from that. Again, as the name suggests, Tether is tied to the US dollar. It’s almost one for one. A single Tether coin is equal to about $1.

You can buy USDT instantly and start using it without the warm-up period as you’re most likely already familiar with spending at the value of a US dollar.

Those are three cryptocurrencies worth your research and inspection. There are a few that we could give an honorable mention to, so we’ll do that here:

  • Ripple (XRP)
  • Dogecoin (DOGE)
  • Solana (SOL)
  • Binance Coin (BNB)

The cryptocurrency market is still relatively new and because of that it is immature and untested, but it also has the potential to revolutionize the way we think about money and finance. That’s the premise behind the whole thing.

It’s not about getting rich quick and flipping it back into a dollar. Sure, some have made that work for them, but crypto has its sights on disrupting fiat currency and putting in its place a transparent and decentralized digital currency. Keep that in mind when choosing which coin to invest in. And remember to always consider the risks.

 

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