Best Cryptocurrency To Invest Now (Except For Bitcoins) | Digitabyte
Best Cryptocurrency To Invest Now: Over the last few years, cryptocurrency investors have been on a roller coaster journey. Between May and July of 2021, the crypto market dropped more than 50%, wiping down more than $1 trillion in value. The market then rose 150 percent to a high of $3 trillion in November before plummeting by 40% to its current value of $1.9 trillion.
Of course, the crypto market is known for its volatility, and if you can tolerate the big price swings, now appears to be a good moment to buy. In retrospect, every sell-off has turned out to be a buying opportunity, and there’s no reason to expect the current crypto meltdown to be any different. With that in mind, Ethereum, XRP, and MANA are 3 of the best cryptocurrency to invest in now except for bitcoins.
Before getting into the details, it will be good to know whether you should invest in cryptocurrencies as of now or not. Let’s get to it!
Best Cryptocurrency to Invest Now
These 3 cryptocurrencies are at the top of the list when it comes to which cryptocurrency to invest in now. Let’s discuss it in detail.
- Ethereum (ETH)
Ethereum (ETH) is an open-source blockchain network that is the most popular platform for creating decentralized apps, cryptocurrency, and smart contracts.
Despite the current market difficulties, ETH may still offer a unique opportunity to investors, especially at its current pricing. Ethereum will announce its transition to Ethereum 2.0 in the coming months, which will replace its previous Proof-of-Work system (which is slower and environmentally dangerous) with a faster and cleaner Proof-of-Stake system.
The transition’s specific date has yet to be disclosed. However, Ethereum has stated that it will be placed in Q2 (April–June). The market should react positively if Ethereum can complete the update without any big issues.
Price at the time of writing: $3106.38
Market Cap: 376.63B billions
Over the last few years, XRP has remained one of the most popular altcoins in the crypto market. Furthermore, it’s also one of the best cryptocurrency to invest in now. It is the native coin of the RippleNet worldwide payment system. You might be asking why one of the “stubborn” altcoins in terms of growth is being recommended as a purchase.
Currently, XRP is in the last stages of a trial with the Securities and Exchange Commission (SEC). The SEC is investigating XRP for selling cryptocurrency without the required certification. If the trial in April this year favors XRP (which this source believes is very likely), most analysts agree that price movement will be exceedingly bullish.
When you consider that the volume of transactions on the XRP network doubled in 2021 and that institutional demand is still growing, the growth theory for XRP seems rather appealing.
Price at the time of writing: $0.84
Market Cap: $37.4 billion
MANA is the Decentraland metaverse’s native token, and it allows users to buy land and other in-world assets with it.
Investors from both traditional finance and crypto rapidly became aware of the metaverse’s growth potential after JPMorgan produced a report pronouncing the metaverse a “1 trillion dollar opportunity” and opened its own office in Decentraland’s Metajuku Mall. MANA has a substantial first-mover advantage because Decentraland is the largest and oldest of the various metaverses.
MANA currently has a market capitalization of $5.2 billion, and if JPMorgan is to be believed, we are all still in the early stages of anything metaverse. Obviously, in the realm of crypto and Web3, things move quickly, and Decentraland could be dethroned at any time. However, for the time being, Decentraland and its native token MANA maintain their market-leading position. That’s why, MANA is one of the best cryptocurrency to invest in now.
Price at the time of writing: $2.64
Market Cap: $5.7 billion
Should You Invest in Cryptocurrency?
Owning bitcoin can help diversify your portfolio because cryptocurrencies like Bitcoin have traditionally had low price correlations with the stock market in the United States. If you are of the view that cryptocurrencies’ popularity can increase over time, it’s probably an excellent idea to start investing in some cryptos as part of a balanced portfolio.
Ensure preparing an investment thesis and going for a detailed research for each cryptocurrency you buy. This will help you understand why the currency will last. You should be able to manage investment risk as part of your whole portfolio if you do your study and learn as much as possible about how to invest in cryptocurrencies.
Now that we have discussed why you should invest in cryptocurrencies, let’s get to which is the best cryptocurrency to invest in now.
Recommended: Best Cryptocurrency to Invest in Long Term
Nowadays, cryptocurrency investing is a highly demanded activity. That’s why several people are looking for the best cryptocurrency to invest in now. However, you shouldn’t just decide on any cryptocurrency for investment. Instead, it is better to research the cryptocurrency you will invest in along with your investment timeline. Whether you want a short-term or a long-term investment also plays a crucial role here. Hope this article helps you get an idea of the best cryptocurrency to invest in now as of March 2022.