February 2023
When determining the best cryptocurrencies to buy now, it's necessary to take into account the current market cycle. Since earlier this year, the crypto market has been in a bear market, which means that solid (blue-chip) crypto assets are now available at a major discount.
Some of the largest market cap coins and tokens have since dropped by more than 70% from their prior all-time high, offering an attractive entry price for investors.
Top 10 Cryptos to Buy Now
These coins show great potential for massive gains:
Bitcoin (BTC) - Ranked #1
The oldest and most well-known cryptocurrency is Bitcoin. If you are looking to increase Bitcoin holdings, these are prices we haven’t seen in a long-time. Bitcoin is considered to be the ‘blue-chip’ cryptocurrency and with only 21 million Bitcoins ever to be created and the largest cryptocurrency by market capitalization, it’s a good choice for first-time investors.
XRP (XRP) - Ranked #7
XRP is the native cryptocurrency of the Ripple network. Ripple is a payments processing platform that is designed for fast and cheap cross-border transactions. XRP is one of only a handful of ISO 20022 compliant cryptocurrencies. XRP is anticipated to be adopted as part of the ISO 20022 standard for international cross-border payments. When this system comes online, it's expected the price of XRP will see considerable growth.
Polygon (MATIC) - Ranked #10
Polygon is a proof of stake (PoS) blockchain network that was originally created as a scaling solution for the Ethereum network, to help with traffic congestion and high transaction fees.
Technically, Polygon is not a standalone blockchain, but rather a sidechain running parallel to Ethereum. This is known as a Layer 2 network. Since the creation of Polygon, it has emerged as more than just a Layer 2, but has become the third largest DeFi ecosystem. With institutional investment from major companies like Sequoia Capital ($450 million) and many new developers, we are expecting to see much more from this project.
LiteCoin (LTC) - Ranking #13
The cryptocurrency was created based on the Bitcoin (BTC) protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times and a few other factors. Behind Bitcoin, Litecoin is the second most popular pure cryptocurrency. This success can be largely attributed to its simplicity and clear utility benefits.
As of January 2021, Litecoin is one of the most widely accepted cryptocurrencies, and more than 2,000 merchants and stores now accept LTC across the globe.
Tron (TRX) - Ranked #15
TRON is a blockchain-based platform that aims to share free, decentralized user content. TRON aims to ‘heal the internet’ by giving data liberation to its users. They get to control their data and get rewarded directly for what they produce. These include games, DeFi, and even a bike-sharing DApp. TRON envisages a ‘Web 3.0‘, an internet where no middleman exists, and DApp creators have complete ownership over what they produce.
Monero (XMR) - Ranked #24
Almost as old as Bitcoin, Monero is the privacy-focused cryptocurrency that Bitcoin is not. It’s often been said that every cryptocurrency portfolio should have a privacy coin and there is no better-known privacy coin than Monero.
For those who are privacy conscious and looking for a place to anonymously and private transactions, Monero is the go-to privacy cryptocurrency. As we continue to see the increase in government rules and regulations increase around the use and adoption of cryptocurrency, its expected privacy coins will become more popular and widely used, with Monero being at the top of the list.
Toncoin (TON) - Ranked #28
Toncoin (TON) is a decentralized layer-1 blockchain developed in 2018 by Telegram (the popular messaging platform). The project was then abandoned, taken over by the TON Foundation, and renamed from "Telegram Open Network" to "The Open Network".
QUANT (QNT) — Ranked #30
Quant, one of my personal favorites is also in the interoperability space using its Overledger Network to bridge the gap between various distributed ledger technologies. It is also considered to be one of the few ISO 20022 compliant cryptocurrencies. This project identifies itself as the first operating system built for the blockchain. It is also rumored that Quant is ISO 20022 certified and will be part of the CBDC (Central Bank Digital Currency) initiative.
Fantom (FTM) - Ranked #59
Fantom is a Layer-1 blockchain that uses a scratch-built consensus mechanism and independent consensus layer, Lachesis, to facilitate DeFi and related services on the basis of smart contracts.
Fantom is an open-source decentralized smart contract platform for DApps and digital assets that was created as an alternative to Ethereum and a platform for the move towards Web 3.0 and DeFi applications.
GMX (GMX) - Ranked #78
GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero-price impact trades. Trading is supported by a unique multi-asset pool that earns liquidity providers fees from market making, swap fees, leverage trading (spreads, funding fees & liquidations) and asset rebalancing.
How to Find the Best Cryptos to Buy
In this part of the article, we provide insight into some of the methods used by investors to find the best low-market-cap cryptos for their portfolios.
How to Evaluate a Cryptocurrency Project
You have likely heard, that it’s very important to Do Your Own Research (DYOR), but what does that exactly mean? How do you get started and what does it involve?
A complete explanation and 7-step method are explained in this article. These are the steps every serious investor should perform when deciding upon a cryptocurrency.
Richard Knight
When to Buy?
We have all heard to buy low and sell high, but when is the best time to purchase a cryptocurrency? Now that you have identified the right project when is the best time?
On a macro scale, it’s important to know the market and where it is in its cycle — Is the market in a bull or bear market? Given the nature of the cryptocurrency markets, the price of Bitcoin dominates the market. If Bitcoin goes up, so does the rest of the market. If Bitcoin goes down, so does the rest of the market.
To help you better understand the market cycle, we have written a full article on the 4-phases of the crypto market and which cycle is the opportune time to buy and sell.
Richard Knight
Fear & Greed in the Market
As an investor, it’s also important to take into account the Fear & Greed Index in the cryptocurrency market. The cryptocurrency market is highly emotional, and the two greatest emotions determining the best time to buy (or sell) are greed and fear.
When greed is at its highest, it often signifies the peak of the market (and a good time to sell). When fear is at its highest, it often signifies when the price is at its lowest (and a good time to buy).
For more about the cryptocurrency fear and greed index, a have written a full article on this:
Richard Knight
Crypto Chart Patterns
Lastly, when it comes to buying, it’s important to be aware of chart patterns and how to read them. In this detailed article, we cover the 20 most common crypto chart patterns and how to read them.
Richard Knight
Conclusion:
The cryptocurrency market is highly volatile and when choosing to purchase a cryptocurrency it's important to consider your investing risk profile. As always it's important to do your own research.
While the above coins are fantastic overall investments, they need to fit into your investing style. Some people enjoy the fast pace of day trading while others are looking for more of a long-term investment.
Your investing style will to a large degree determine when and what cryptocurrency investments you should invest in. If you are looking for crypto with the greatest return on investment, you'll likely want to check out low-market-cap coins.
Learn to Profitably Invest in Cryptocurrency
When it comes to investing in cryptocurrency, some of the best cryptocurrency investments have been within the small market cap cryptos. These are projects with very low market capitalization and massive adoption potential. These small market-cap projects have tremendous growth potential and are often referred to as small-cap gems.
With over 10,000 actively traded cryptocurrencies and many of these falling within the small, micro and nano market capitalization, it's often difficult to separate the wheat from the chaff. Join us as we research and publish our findings when looking for the next small-cap gem.
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