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What a difference a year makes. Last year, crypto was the asset class. Finding the right cryptos to buy was almost easy. And new millionaires were being minted left and right. Even if you got in halfway through the year, it was still possible to double your investment dollars by betting on the likes of Bitcoin (BTC) or Ethereum (ETH). Both tokens doubled in value before the end of the year.

Since then, the crypto market has been ugly. Like naked mole rat in a pigsty ugly. Bitcoin is down more than 70% since hitting its all-time high back in November. And Ethereum has fared just as poorly. Look around and it’s hard to find any token that’s not underperforming right now. But that’s normal for a crypto winter. The boom and bust cycle of cryptocurrencies is well documented. The booms are nice. But they’re notoriously brief. And the busts can be long and drawn out.

As we’re obviously in the midst of a bust, it makes sense to prepare for even more losses in the crypto markets. It’s tough to say whether we’ve hit the bottom yet. That being said, we’ve seen some resistance for Bitcoin around the $20,000 mark. As for Ethereum, its low point appears to be around $1,000… At least so far this year.

That being said, we could still have further to fall. Some folks are calling for Bitcoin to bottom out around $12,000. And how far Ethereum has to go is anyone’s guess. But even folks that are bearish on crypto now, know these tokens aren’t likely to stay down forever. Which is why right now could be the perfect time to look for some cryptos to buy and add to your portfolio.

Five Cryptos to Buy While Prices Are Down

Not to beleaguer the point, but crypto is down. Way down. Prices have fallen so far that it’s scared off a lot of retail investors. And to be fair, there’s not a lot of reason to be psyched about crypto. At least not right now.

In fact, there’s only one aspect of the crypto markets that has us excited right now. And that’s the current prices. Last year, any investor worth his or her salt would have loved the chance to get in on Bitcoin at $20,000… Or Ethereum at $1,000. But now that the opportunity is right there, not many are acting on it. And that could be a missed opportunity.

Here’s the deal, when the markets are red-hot, it creates a herd instinct. Everybody wants a piece of the action. But the reverse is true as well. Which is why right now, the black sheep still collecting digital coins could be in the best position. Those that don’t follow the herd will be able to capitalize when the rest change their mind… Buy the fear, sell the excitement.

Token No. 1: Bitcoin (BTC)

Remember last year when folks were yelling from the rooftops that Bitcoin would break $100,000? Well, it didn’t happen. At least not yet. But eventually, it very well may. And those that pick up Bitcoin now will be sitting pretty if that happens in the next couple of years.

The reason we like Bitcoin as an investment right now is that it’s selling as cheap as it has in more than a year. At no point in 2021 could you score a whole Bitcoin for less than $30,000. But right now, it’s trading at a solid discount. The other strong case for Bitcoin is its longevity. Hundreds of new cryptos have come and gone during the lifespan of Bitcoin. But Bitcoin has withstood the test of time. And it’s unlikely to be disappearing anytime soon. That’s why we think that when it comes to cryptos to buy, Bitcoin should be very high on the list of opportunities.

Token No. 2: Ethereum (ETH)

If any coin is competition to Bitcoin, it’s Ethereum. This token has proven to be one of the most essential tokens on the market. It helps power one of – if not the – most important blockchains on the planet. And when Ethereum completes its move to proof-of-stake (PoS), that will only increase its value.

One of Ethereum’s biggest drawbacks is it’s very energy-intensive. However, the switch to PoS will make it roughly 99% more energy efficient. This move will also greatly reward those with Ethereum. In this model, those who stake ETH will earn more rewards for aiding the transaction confirmation process. The more ETH folks have staked, the larger their rewards will be. It’s likely to make the rich much richer. And it’ll also be more environmentally friendly in the process. Those are two reasons we included Ethereum on our list of cryptos to buy during the dip.

Token No. 3: Solana (SOL)

Let’s start by addressing the elephant in the room. Some purists don’t like Solana. They claim that it’s not a properly decentralized token. And to be fair, an estimated half of these tokens are owned by venture capitalists and insiders. Since Solana is a governance token, this puts a lot of future projects in the hands of a select few.

Despite all of this, Solana helped change the crypto game. The blockchain technology this token powers has helped revolutionize so many facets of DeFi and crypto as a whole. It’s next-level scalable. Transaction costs associated with Solana are about as cheap as they come ($0.00001). And it’s virtually done away with confirmation delays. Solana can process an estimated 50,000 transactions per second. That gives this token one of the best use cases out there. And why we think it should be on your list of cryptos to buy.

Token No. 4: Binance (BNB)

Over the past year, Binance has fared quite as poorly as other tokens. It’s down roughly 30% since this time last year. Part of its staying power is that it helps power the most popular crypto exchange in the world: Binance. But this token is also popular on other decentralized exchanges around the world.

For many, Binance is the default crypto token to buy other crypto tokens with. If you want to pick up a new token on PancakeSwap, most folks will have to start with Binance. Only once you’ve connected your Binance-filled wallet to a decentralized exchange will you be able to then trade it for some other tokens. That’s a powerful and important utility in the world of cryptocurrencies. And for that reason alone, we think Binance is one of the best cryptos to buy right now.

Token No. 5: Bitgert (BRISE)

For the last token on our list of cryptos to buy now, we’re going with a bit of a dark horse. Bitgert isn’t on a lot of folk’s radar. But we think that’s likely to change in the next few years.

One of the reasons this token isn’t more popular is that it has yet to land a listing on some of the more popular exchanges. It’s also trading for a fraction of a cent. And that doesn’t often whet the appetite of crypto whales.

However, where Bitgert comes short on access, it makes up for in the scope of what it’s setting out to do. When we first came across Bitgert, we heard it described as the “Solana killer.” That’s because it charges virtually zero gas fees. And it’s capable of processing a whopping 100,000 transactions per second. That’s actually more than most major blockchains combined.

The team behind this disruptive technology has since launched a decentralized exchange. And there is not a proper BRISE wallet app. This serves as the main gateway to the Bitgert ecosystem. Plus, it naturally allows users to send, receive, store and exchange many different crypto assets. So while you might not be able to pick up Bitgert on Coinbase yet, we think it might be worth your time to get familiar with the BRISE exchange… There you’ll be able to pick up any of the cryptos to buy on this list.

Top Cryptos to Buy: The Bottom Line

If you’re looking to make a quick couple of bucks, this list of cryptos to buy won’t likely help you much. However, if you’re ready for a long-term investment with a lot of upside potential, this list could serve you very well in the years to come.

That being said, when it comes to investing, there’s no “sure thing.” Any investment comes with risk. And cryptos have that in spades. But for investors with a few bucks burning a hole in their pocket, we think the cryptos to buy on this list could be poised for some very big gains in the coming years.

The post Five Cryptos to Buy During the Downturn appeared first on Investment U.

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By: Matthew Makowski
Title: Five Cryptos to Buy During the Downturn
Sourced From: investmentu.com/cryptos-to-buy/
Published Date: Tue, 12 Jul 2022 20:45:59 +0000

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