top 5 crypto
Crypto Currency

The 5 Best Cryptocurrencies to Purchase Right Now

Cryptocurrency had a difficult month in November.
Can it end 2022 on a successful note?

The top six cryptocurrencies to monitor are listed below.

In light of the near-constant selling and negative news in the cryptocurrency, blockchain, and decentralised finance (or DeFi) industries in 2022, considering the best cryptocurrencies to buy right now may seem absurd at this point.

Leading cryptocurrency exchange FTX fell in November, bringing about more of the same when it became apparent that the company was an overleveraged and negligent custodian of customer cash.
The market value of all cryptocurrencies fell by 60.6% as of the end of November.

The market lost more than 60% between June 2019 and March 2020, almost 70% in four months in 2018, and about 80% between late 2013 and early 2015. People often forget that such fluctuations are not uncommon. As they always have been, cryptocurrencies are very hazardous and volatile.

Following that, these are the top six cryptocurrencies for risk-tolerant investors to purchase right now.

Bitcoin (BTC) 

There has probably never been a more crucial time for the so-called blue-chip cryptos, which are the digital currencies whose reputation, adoption, and user base are so well-established that the cryptocurrency itself would have to vanish for them to completely collapse.

With a market cap above $320 billion, Bitcoin, the first cryptocurrency, is still the most valuable.

Bitcoin is the most tried-and-true and a must-have for investors who merely want some exposure to this asset class. It is regarded as a form of digital gold and appreciated as a currency that cannot be manipulated by any print-happy central authority.

There will only ever be 21 million Bitcoins, of which 92% are already in existence and the rate of new Bitcoin generation is believed to be declining.

Ethereum (ETH)

Next is Ether, the only other top-tier cryptocurrency.

Since Ether is the native cryptocurrency on the Ethereum blockchain, it is frequently referred to as Ethereum in casual contexts.

While dwarfed by Bitcoin’s, Ether’s market worth of more than $150 billion is more than three times that of the next-largest token, excluding stablecoins.

One of the most widely used blockchains in the world, Ethereum supports a wide range of non-fungible currencies, games, smart contracts, and DeFi lending capabilities.

Following the Ethereum “Merge” in September, the Ethereum network now uses a proof-of-stake, or PoS, protocol in contrast to Bitcoin.

PoS is significantly more energy efficient than Bitcoin’s proof-of-work technology, thus this is overall good news, especially for investors who care about the environment.

BinanceCoin (BNB)

No other cryptocurrency comes close to matching the magnitude of Bitcoin or Ethereum, but BNB, the native token of the Binance cryptocurrency exchange, comes the closest.

BNB is not just the third-largest cryptocurrency with a market size of nearly $46 billion, but it is also worth more than twice as much as the next non-stablecoin.

Although the sudden collapse of the FTX exchange in November was a setback for the industry as a whole, it may have been a boon for the Binance ecosystem, which was FTX’s main competitor.
The world’s most important cryptocurrency exchange right now is Binance.

In comparison to Coinbase Global Inc. (ticker: COIN), its closest mainstream rival, with volume of $1.5 billion as of Dec. 5, Binance’s trailing 24-hour volume was $11.6 billion. Contrary to many other popular cryptocurrencies, BNB maintains a hard cap on its supply and strives to gradually lower it by “burning” a percentage of its transaction fees in BNB, hence boosting scarcity.

Polygon (MATIC)

Polygon has a market cap of roughly $8 billion, which provides some perspective on how small the cryptocurrency market is still.

Thus, Polygon’s MATIC token, which is used to control and secure the network, would become a completely ordinary mid-cap stock on Wall Street.
However, it places MATIC in the top 10 in the crypto space.

With support from Coinbase and Binance, Polygon is a wager on the sustainability and success of Ethereum, helping to increase the platform’s scalability and eventually enabling the running of an almost infinite number of decentralised applications.

The coin has more than doubled from its lows in June, even after the general crypto drop in November.

Cosmos (ATOM) 

The ATOM token from Cosmos, which has a market valuation of over $3 billion, is the last choice among the finest cryptocurrencies to purchase right now. It also happens to be the least valuable one.

The native token and governance token of the Cosmos Hub blockchain is ATOM.
Owners of ATOM also have a vote in how the project should move forward as a governance token.

The technology behind Cosmos is designed to be an ecologically friendly platform that allows inter-blockchain communication more efficient, quick, and affordable while making it easier for programmers to create decentralised applications.

Like Polygon, the project’s overarching objective is to strengthen the ecosystem as a whole and make blockchain a more pervasive, easily accessible aspect of daily life.

Everybody has to be able to participate in a future that they want to live for. That’s what technology can do.

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