3 best cryptocurrencies to invest in right now – experts’ top picks
What are the best cryptos to invest in right now? Here's a list of the top 3 cryptocurrencies and why we think they might have the most potential.
Cryptocurrencies are the hottest financial market right now, and everyone wants a piece of the action. Institutional participation is increasing, with the launch of tailored services such as Bakkt, and retail investors are hooked on the potential to make eye-watering returns.
The crypto world is incredibly inclusive – a new global market that operates 24/7 with no barriers to entry. In its short lifespan, it has witnessed both euphoric highs and fierce bear markets in a magnificent display of volatility – the kind of volatility you might expect from a disruptive new asset class that could just change the world.
But as the dust settles and the industry matures, which cryptocurrencies look the strongest and are set to take the lead as it moves into its next stage of development? In this article, we will list the top 3 coins and explain why we believe in their potential to be the best cryptocurrencies to invest in now.
#1 Bitcoin (BTC) – the ultimate buy and hold?
While numerous cryptos are vying to become the new global currency that can compete with traditional fiat money, Bitcoin has an undeniable lead over the rest. Its early-mover advantage and dominant position as the world's number one cryptocurrency will be hard to shake, with Bitcoin currently accounting for nearly 70 percent of the entire crypto market value.
Of course, betting on Bitcoin becoming a leading global currency is a high-risk, high-reward endeavour that will not happen overnight. But as new crypto-enabled products and services are launched and adoption increases, Bitcoin is well positioned to be one of the main beneficiaries. That's why experts believe that Bitcoin is the best crypto to invest in and why it tops this list.
And as a long-term “buy and hold” investment opportunity, Bitcoin has a certain beauty. While the strategy itself is often criticised due to its lack of rules about when to sell, with Bitcoin, things are slightly different. For most investments such as stocks or commodities, to realise any gains, you must first sell or cash out, right?
But if Bitcoin reaches its potential and becomes a leading global currency, you wouldn't need to do this. It would be a cash investment worth significantly more than when you bought it. You would be able to use and spend it anywhere without having to sell it.
Otherwise, if you’re a day trader and prefer to profit from the crypto market’s high volatility, Bitcoin’s drastic price swings can also work to your benefit.
#2 Binance Coin (BNB) – time to buy the dip?
NB is the coin that powers the Binance ecosystem. The rate at which Binance is launching new services, such as margin trading, futures, DEX, lending, staking and more, is impressive, and BNB utility is built into most of them. With Binance cementing itself as one of the world's leading crypto companies, we believe BNB is a top crypto to invest in and worth keeping on your radar.
The reputation of Binance and its services are also somewhat tied to the performance of BNB. If BNB's price continuously plummeted and investors were seriously hurt, then it would not be a good look for the company. And it wouldn't take long for the FUD (fear, uncertainty and doubt) to start building up. So even from a marketing perspective, Binance is highly incentivised to do what it can to increase adoption and build new use cases for BNB, which in turn should help its price.
BNB was the first large-cap cryptocurrency to make a new all-time high in 2019, effectively leading the whole crypto market out of the prolonged bear market seen in 2018. This was quite a feat, considering that most other cryptocurrencies have yet to come anywhere close to the all-time highs reached in 2017. It shows the power this coin has to run when it wants to, and with its price now having retraced 60 percent from this year's high, it could present an excellent buy-the-dip opportunity.
#3 Monero (XMR) – the price of privacy
Financial privacy is currently almost non-existent, with banks, governments, payment systems and corporations all keeping records of your transactions. As it stands, the most private way to make a transaction is by using cash.
Even Bitcoin users who thought their transactions were anonymous have suddenly realised that the combination of an immutable public blockchain, centralised exchanges and KYC (know your customer) procedures makes them just the opposite.
However, Monero, the world's leading privacy coin, is fighting to provide a safe place for private transactions. It uses stealth addresses, ring confidential transactions, ring signatures and other state-of-the-art techniques to ensure that it is a private digital currency. For those who believe that the desire for financial privacy will eventually outstrip the forces trying to deny it, Monero has to be one of the top cryptocurrencies to invest in right now.
Good luck and stay safe
Cryptocurrencies appear to be here to stay, whether or not the US President, the Chinese government or any other major powers like it. Nonetheless, there is always risk involved when trading any market, especially the highly volatile and nascent crypto market. You never know what's coming around the corner, so trade wisely, have a strategy, and only risk what you can afford to lose.
Tokenised securities are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how tokenised securities and leverage work and whether you can afford to take the high risk of losing your money. Nothing in the above article should be regarded as a recommendation to trade generally, to trade on a particular platform or to trade in a particular asset. Asset prices can go down as well as up and past performance is not a guide to future performance. Investors and traders should thoroughly research an asset or strategy before making any trading or investment decision and if necessary seek professional advice.