February 08, 2023
3894
0The Best Crypto to Buy Right Now
Any market is cyclical, the cryptocurrency sector is no exception. Due to the increased volatility, bearish and bullish cycles stand out especially strongly. As part of the next bearish wave, rumors about the “long winter”, or even the death of the cryptocurrency, regularly appear. Then there is a rebound from the bottom and the growing bitcoin/altcoins force the skeptics to be silent for a while.
Today, we will analyze the best crypto to buy right now list with the potential for multiple growths.
Previously, we’ve already talked about the best coins to buy. You can read this article here.
What to look for when choosing cryptocurrencies for the long term?
A few rules for long-term investment in cryptocurrencies in 2023:
– Should you follow the news?
In the case of long-term investments, the news is not particularly important to you. But we all remember the collapse of the Luna project. Having learned about the company’s problems in advance, it was possible to exit the project with minimal losses.
Therefore, it is still better to follow the news on the issuer than not to follow. Watch the news on partnerships, blockchain updates, new investments from large investors.
- A good project with a great future, useful for people
The usefulness of the product, it’s still not a specific metric, a little vague. You need to have the data of an analyst to evaluate the usefulness of a particular crypto product. For example, in the case of decentralized applications, the usefulness will be evaluated by how fast the network and applications are, and how important the task being performed is for people.
It is also important to mobilize the crypto community around the project. If you see that no one needs the project now, you should not hope that it will suddenly become necessary in the future.
- Project reputation
You need to carefully monitor the reputation of the project. Scandals, hacks, bad behavior of members of the development team, false promises, deception of investors. You need to run away from projects with a bad reputation. First of all, look at CoinMarketCap. If you see that there are people writing something like “scam,” then do not come close to the project!
- The development team
It is necessary to assess who is on the development team, whether they can implement, and what they have come up with. If you know who is on the team, evaluate their reputation, and past cases.
How does the project want to implement its ideas? Pay attention to consultants from the outside. Sometimes it happens that the project has a weak team, but strong advisers and consultants, due to which the project shoots. In general, do not ignore this point.
- How long has the project been on the market?
Do not select projects created yesterday. Many launched the project yesterday, and today promise a million percent profit. You need to think about how not to be left without money at all. Some technologies allow artificially inflating the token rate. With the help of manipulations, the token gets into the top ratings by the percentage of growth, the bubble inflates, and then the developers of such coins throw everyone, selling a huge number of coins.
Therefore, you should not go into projects after their rapid growth.
- Token liquidity
It is necessary to evaluate the liquidity of PancakeSwap. To do this, add a trading pair together with the token in question. If the percentage of slippage is high, the coin is a scam. It has no liquidity. Fraudulent projects most often do not have a liquidity pool. You can buy such a coin, but not sell it.
Such coins are easy to manipulate, you can even organize an increase in the exchange rate by 1000% per day — a trivial matter.
- Project followers
If a project has a strong community that believes in the project, then it is no longer a failure. Without people, even Ethereum itself would be just a piece of code. People’s faith in the project, and people’s support — that’s what make cryptocurrencies top.
This factor can be assessed by the activity of the project in social networks, the number of subscribers, and active subscribers. Be sure to check a hundred or two subscribers to see if they are bots. Otherwise, scammers like to catch up with bots in their groups to create the appearance of strong support for people.
- Your readiness for risk
There will always be projects in cryptocurrencies that bring hundreds or even thousands of percent per year. But you should always evaluate everything from the point of view of risk. Keep a balance between reliable tokens and brand new coins. Conditionally, investments in Ethereum will not give you 1000% per year, but you will not go into a strong minus.
It is always important to know what amount you are willing to part with.
The best crypto to buy right now
Crypton (CRP)
Crypton is a private coin of the Utopia P2P ecosystem — a decentralized and anonymous platform for safe Internet pastime. The CRP is the main financial unit of the ecosystem through which all payment transactions take place.
CRP is an environmentally friendly digital currency, available for eco-mining through the ecosystem. You only need the internet, a computer, and an installed bot for CRP mining, which will automatically mine Cryptons into an internal crypto wallet. In addition, each user also receives a Proof-of-Stake reward to their Minimum Monthly Balance.
Cryptons can be bought, sold, exchanged, or withdrawn through the ecosystem’s internal exchange — Crypton Exchange — the no-KYC exchange platform with anonymous registration and use.
CRP is based on hybrid blockchain technology. It is designed for absolute decentralization. All financial transactions are in the chain on master nodes. All financial transactions are protected bya cryptographic signature. No one can track Crypton transfer payments. All operations are private and do not leave any traces.
In addition, the CRP has recently become available for payment in more than 1,800 online stores. Which once again proves its security and trust around the world.
Learn more about Crypton here.
Binance Coin (BNB)
Binance Coin is a token originally designed to trade and pay fees on Binance, one of the largest crypto exchanges in the world. The coin allowed you to get discounts on transaction fees, withdrawals and other operations.
Since its launch in 2017, the possibilities of Binance Coin have expanded significantly — now it is used even for booking trips. The token can also be exchanged for other cryptocurrencies, such as Ethereum or Bitcoin.
The price of BNB in 2017 was only 10 cents. By the beginning of April 2022, it had grown to about $445, an increase of 445,000%.
A drawback of BNB is that its progress is directly related to the reputation of the Binance exchange. Any problems of the exchange directly affect the reputation of BNB.
Solana (SOL)
Solana (SOL) is the fifth largest cryptocurrency by capitalization. It was established in 2017. Representatives of Solana position their network as “the fastest blockchain in the world and the fastest growing ecosystem in the cryptocurrency sphere.” Like Ethereum, Solana allows you to create smart contracts, known as Solana Programs.
The key differences between Solana and Ethereum are a higher transaction speed at a lower cost.
In early 2022, Solana launched the decentralized payment service Solana Pay, which allows merchants to make transactions in digital dollars, such as USDC, for fractions of a penny and without intermediaries at the point of sale.
The disadvantage of Solana is insecurity: the distributed asset registry has recently been repeatedly subjected to DDoS attacks, as a result of which the network was temporarily disconnected. The increase in the number of DDoS attacks on the Solana network is explained, among other things, by fundamental vulnerabilities in its blockchain.
What is a DDoS attack and does it dangerous for people? Read more here.
Ripple (XRP)
The creators of XRP position it as the best digital asset for global payments. XRP does not use blockchain. Instead, transactions are processed by the Ripple Protocol Consensus algorithm (RPCA) — the company’s own development. Transactions in RPCA are confirmed by specially selected validator nodes, not miners. By comparing the results of transaction records, they select a leader with the true version of the transaction history and then synchronize their databases with his. This principle allows you to confirm transactions faster than in the bitcoin network. It also makes the system more resistant to attacks.
Ripple technologies allow banks to significantly increase the speed and reliability of transactions around the world — in comparison with traditional interbank payment systems such as SWIFT. At the same time, the cost of such operations is much lower.
The platform already cooperates with such major banks as UniCredit, Western Union, Santander, and UBS, and Microsoft and Google are among the partners and investors of the project.
The cryptocurrency is not mined and is not decentralized. A third of the issued coins are distributed among users, the remaining 65% belong to Ripple Labs. This can lead to the manipulation of the course. XRP has also been featured in major scandals and lawsuits.
