What Is the Best Cryptocurrency to Buy with Bitcoin?
One of the first currencies that come to our mind when we think of purchasing some crypto is Bitcoin. It’s the most well-known, stable, and secure coin; moreover, its reducing volatility makes it one of the most attractive investment portfolio assets.
Still, there is a world beyond Bitcoin — and a lot of people are wondering what is the best crypto to buy right now. When it comes to investing, it’s essential to diversify your portfolio with long-term assets with a proven track record of constant growth. Always remember the saying: “Don’t put all your eggs in one basket”. Here are some tips for those who would like to diversify their investment portfolios!
What should I know before planning a crypto purchase?
Before buying any crypto, make sure you know that prices can — and do — increase and decrease. Cryptocurrencies are currently unregulated, so every time you invest, your capital is at a certain risk. Past performance is not a guarantee of any future price increases.
Never invest more money than you aren’t ready to lose. This amount varies from person to person but never go above your personal limits and put at risk the financial safety of yourself or your family. Regularly taking your gains out and reinvesting the same amount of capital you started with is a good way of keeping potential losses to a minimum.
What are the Best Cryptocurrencies to Buy Today?
When it comes to crypto, you always have a huge number of options to choose from. There are over 10.000 different coins and tokens, so pick wisely. Even the variety of goods you can buy with it has expanded (now there are gold bars on the list)! Let’s check what the best cryptocurrencies to buy right now are.
#1: Ethereum (ETH)
Second only to bitcoin, ether is a cryptocurrency built on the open-source Ethereum blockchain. Thanks to it, the crypto world was introduced to the concept of smart contracts that were later adopted and reproduced by influential companies like Microsoft. Finally, it was precisely this technology that made ICOs possible and famous during the 2017/2018 bull run when many projects released their own ERC-20 tokens based on the Ethereum blockchain.
Ethereum is a universal world computer and decentralized economy independent of any state or institution. It’s the number #1 platform for creating decentralized applications that the whole DeFi sector relies on. Compared to BTC, ETH has an unlimited supply. Still, its value stems from the fact that each transaction on the Ethereum blockchain requires a little bit of ether, as well.
BTC to ETH is one of the most used trading pairs in the world, with a volume of several hundred million dollars being exchanged daily. To get your hands on some ether quickly, take advantage of the fast crypto swaps on ChangeNOW and trade BTC to ETH with just a few clicks.
#2: Ripple (XRP)
Developed by Ripple Labs, XRP has a market capitalization of over $40 billion as of June 2021 and a remarkable payment speed (on average, it takes 4 seconds to complete a transaction). Please keep in mind that about 50% of the XRP market value was lost due to an SEC legal dispute, so this coin is somewhat volatile at the moment.
Ripple, the underlying technology behind XRP, is often referred to as a banking coin. This comes from reports that many of the world’s largest banks utilize the strengths and speed of the Ripple network. The price of the currency has bounced back nicely following the SEC investigations. It was trading at around $0.30 in January 2021, but in June, it jumped up to $0.86. Some price analysts predict that XRP’s value looks to rise to over $2 at the end of 2021. To profit from the price increase, head over to ChangeNOW and buy some coins while they are still cheap.
#3: Litecoin (LTC)
LTC is one of the most actively traded altcoins with a really fast transaction time and cheap network fees. You can buy it with BTC or any other currency listed at ChangeNOW and use it for purchasing or strengthening your portfolio! When we are on the subject of strength and anonymity, ChangeNOW allows its users to swap BTC to Monero with no extra fees.
Someone once said that Litecoin is the silver to Bitcoin’s gold. Considering how long it’s been around and that it represents one of the most purchased coins on Bitcoin ATMs worldwide, we can see why it has such a reputation. Litecoin’s quality also lies in the fact that its network has not experienced any downtimes or security breaches since its inception. Crypto enthusiasts can instantly purchase some LTC for as low as 10 USDT or $50 on ChangeNOW.
#4: Dogecoin (DOGE)
Dogecoin (DOGE) is a cryptocurrency that started as an online joke but quickly made it to the point where the serial entrepreneur Elon Musk began to support it. At the moment, it is definitely undervalued but has a lot of growth potential.
The ‘Dogecoin to 1 dollar’ hashtag was trending on Twitter at the beginning of June 2021, signaling the communities’ trust in the meme project that no one is laughing about anymore. Dogecoin has a lot going for it. It’s a digital coin that many traders like to use to transfer money between two exchanges because its transaction fees are so low. It also features a block time of just 1 minute, making it 10 times faster than bitcoin on average.
Dogecoin is equipped with a public ledger making all transactions visible on the blockchain. Privacy advocates can mask the source of their funds by first exchanging BTC to XMR on ChangeNOW and then using Monero to buy DOGE. The minimum purchase amounts start at $10 worth of coins.
#5: Cardano (ADA)
One of the most impressive altcoins is Cardano (ADA) that is currently trading at $1.55 and has a market cap of almost $50 billion. It has already reached several all-time highs (for example, that of $2.30 in May 2021).
The Cardano network is developed and operated by specialists with a deep academic background. Such a team may seem a little bit slow in introducing new updates. Still, everything they add to the existing network operates so smoothly it compensates for all the waiting. One of these updates gave ADA a considerable boost, so it went from outside of the top 10 list to the 3rd largest cryptocurrency in a matter of days. Cardano currently sits in 5th place according to the overall market cap.
Now, smart contracts are possible on the Cardano network, and developers can start creating dApps and new cryptocurrencies as well as working within the DeFi sector. ADA developers are heading towards complete decentralization, so their solutions are fast, scalable, and intended to make transactions even cheaper.
To purchase some ADA coins, check out the offer available on ChangeNow.
Conclusion
Investing in altcoins should only be done after plenty of research and due diligence. Once you have established the coins' use cases and what their future could look like, you can safely assume that you have found worthwhile bitcoin alternatives. As a rule of thumb, the assets used the most (coins with the biggest market caps) have gained the most significant amount of trust among their communities.
Thanks to the rapid development of the crypto industry and exchanges like ChangeNOW, you can now buy any cryptocurrency with a credit or debit card and sell or swap these currencies. The world is becoming more and more decentralized. As a result, you can use either traditional fiat or any crypto assets to buy plenty of exciting goods — for example, some gold or real estate!
