Which crypto should I buy right now? Choose the best crypto coin you need
When Blockchain technologies first emerged, they appeared to be lofty, new innovations that would form part of the larger technological ecosystem. But the passage of time reveals that Blockchain technologies are not just here to be part of the fold.
Rather, Blockchain is on its way to being the fundamental basis for many technological solutions across various sectors. From finance and banking to manufacturing and transportation, Blockchain (definition here) has a wide range of practical applications that will revolutionize modern life.
Cryptocurrency
One such practical application of Blockchain technologies is cryptocurrency. Defined as a digital currency that exists on a decentralized network (Blockchain), cryptocurrency is already changing the way the financial industry operates.
This is because cryptocurrencies facilitate peer-to-peer transactions without the need for an intermediary such as a central or commercial bank. This reduces both the time and costs of carrying out financial transactions.
In addition to providing an efficient means of payment, cryptocurrencies are also an asset that can be traded for profit on crypto exchanges, just as stocks and bonds are traded on the stock exchange. Finally, cryptocurrencies promise to increase financial inclusivity and mitigate against inflationary pressures as well.
What makes the best crypto?
Due to these advantages, interest in crypto has grown rapidly with the total market capitalization reaching and exceeding $900 million. A cryptocoin is considered great if it has the following qualities;
a) Fully decentralized; The whole point of cryptocurrency is to eliminate interference from third parties for higher efficiency. Therefore, a good cryptocurrency should not be excessively manipulated by any central authority – including its creators.
b) Utilities; Cryptocurrency is meant to be a valid alternative to fiat currency. Therefore, for crypto to have real value, it should also have real utility. So when choosing the best crypto to buy, make sure the coin has actual use cases as an asset or medium of exchange.
c) Very safe; No one wants to buy crypto only to have it hacked and stolen by unscrupulous hackers. Therefore, the best crypto you should buy should have good security architecture integrated into the original design.
d) Demand; Another quality you should consider when looking for which cryptocurrency to buy is demand. This does not mean that all cryptocurrencies start or should start with a lot of demand.
Rather, the best cryptocurrency should have a sufficient public presence that points to good prospects for future growth. That way, you can be sure that the coin will have real utility and become valuable enough for you to make money if you buy it as an asset.
Other qualities of a great crypto coin you should buy include stability, good potential for scalability, deflation mechanism and sustainability. Therefore, you are asking yourself “which crypto should I buy right now?” Well, below are some of our suggestions;
Which crypto should I buy today?
1) Stable; Stabila is a cryptocurrency and the original token built on the Stabila proof of stake blockchain and is available on the Moneta Digitec crypto exchange. Designed to offer users optimal utility both as a resource and a medium of exchange, Stabila has excellent security architecture to prevent hacking and theft by bad actors. Stabila has everything to build a state-of-the-art decentralized financial ecosystem.
The stable blockchain and the native wallet support all countries’ stablecoins. At the time of writing, there are 48 stablecoins used by residents of different countries to make payments or transactions between them. If you are in India and need to transact in INR, just add the INRM token to your crypto wallet and use it. Same goes for Brazil while using BRLM, Mexico MXNM, etc…
Blockchain-based transaction fees are minimal and will cost you no more than $0.2. In other words, you have access to any currency in the world. Also, you can exchange these tokens in the decentralized exchange in your wallet. If you want to withdraw, just go to Moneta Digitec Exchange and withdraw to your bank account or card.
The company is working to make all its digital assets available in Stabila pay (S-Pay). The payment gateway service will be available from your wallet and you can embed the widget on your website with just a few clicks.
With a market value of just over 500 million dollars, Stabila also has enormous growth potential and is not exposed to high volatility. So rest assured that Stabila is poised for all-time highs and future market cap conquests. Therefore, it is one of the crypto coins you should buy today as you stand to enjoy good profit margins.
The market value continues to increase with time and it is here for the long term.
2) Bitcoin; Abbreviated as BTC, Bitcoin continues to be one of the major cryptocurrencies to buy right now. This is because since its inception in 2009, Bitcoin has greatly appreciated in its market value.
Bitcoin’s volatility is something you should take seriously. This is one of the most volatile digital assets, and it can wipe out more than 50% of its value in a short period of time.
We have witnessed it this year and must be prepared for it to happen in the future. This leads to uncertainty and largely limits the use cases. The high transaction fees are another factor driving away bitcoin users as they turn to more technologically advanced chains.
Bitcoin also has several use cases as a medium of exchange and therefore offers users practical utility. So if you are asking yourself “which crypto coin should I buy?” you should definitely consider Bitcoin.
3) Ether; Ether (ETH) is the native cryptocurrency of the Ethereum Blockchain network. Ether’s value has been enhanced by the Ethereum Blockchain enabling the creation of NFT projects and decentralized autonomous organizations (DAOs).
Despite being very popular and hugely hyped, Ethereum still has issues to resolve. One of the biggest problems is the very high fees that absolutely limit blockchain usage.
The other problem that the ethereum blockchain faces is extremely long transaction processing times. In some cases, it may take more than 24 hours for a transaction to reach its destination.
I used to trade on ethereum myself and honestly when I was trying to minimize gas fees some transactions wouldn’t even process for a few days. I had to programmatically cancel these transactions to unblock the funds and resend them with higher fees.
It is a good crypto coin to consider buying as it is available on a number of crypto exchanges including Moneta Digitec just like Stabila and Bitcoin. Ether is also secure and has practical utility as a medium of exchange and as a resource as well.
4) GBPM; Stablecoins are becoming a mainstay of the crypto ecosystem. This is because they help introduce more stability to crypto by being backed by real-world or fiat currencies.
GBPM is a stablecoin whose value is pegged to the British pound. Therefore, if you are looking for a new cryptocurrency to buy, add GBPM to your list.
It is a good choice for those who want exposure to the pound as one of the most stable currencies in the world over the last 50 years. It may not be as popular as the US dollar, but many financial transactions are exposed to GBP as the UK is a major financial player on the world stage.
5) USDM; Like GBPM, USDM (USDM) is a stablecoin whose value is tied to a real fiat currency, in this case the US dollar. USDM is built on the Stabila Blockchain and maintains a standard 1:1 value relationship with the dollar.
Have to agree that the US dollar is the favorite currency and most of us have used it in the past and will definitely use it in the future. No currency has ever managed such a long rule and remains the medium that proved to be stable over the long term, and not only the American people have faith in it, but the whole world.
USDM facilitates transactions that mostly constitute the purchase of cryptocurrencies on crypto trading platforms. It is also available on the Moneta Digitec exchange and is ideal for new crypto users.
Unlimited possibilities
There is unlimited earning potential in the crypto field, based on its consistent growth and development. The cryptocurrencies mentioned are just some of the many cryptocurrencies you can buy as means of exchange or tradable assets.
The world’s crypto market has around 300 million users and is still growing in 2022. The growth is attributed to mainstream adoption. While we are in the so-called crypto winter, it is still happening and crypto is growing in popularity.
My personal view on blockchain technology is:
Making financial transactions cheap for users;
We all know that the likes of Paypal, Visa and MasterCard will sometimes charge you above what we all want to be the minimum. Sometimes the costs are exorbitant and it only makes us question whether the banking industry wants to evolve.
My view is that they are comfortable with the legacy they control for hundreds of years. But the fact that I can shop at the price for a few cents makes it all brighter, if not for me, for my kids.
No gatekeepers;
We all had experiences with banks. Many rules, boundaries and a lot of control. Banks transformed into heavy organizations having gatekeepers at every possible corner, accountants, managers, officers, clerks, etc… Spending many hours processing the basics.
Blockchains do these functions automatically and are open and transparent when you need it, anywhere. No more gatekeepers. And no tampering with data, how inconvenient for the banks.
Which new crypto should I buy?
Other cryptocurrencies you should buy today include STB (Stabila), ETHS (Wrapped Ether), BTCS (Wrapped Bitcoin), CNYM (Currency Renminbi/Yuan), JPYM (Currency Japanese Yen), EURM (Currency Euro) and GBPM (Currency . Pound sterling).
If you are overwhelmed by high transaction fees on ethereum or bitcoin, start using ETHS and BTCS. These wrapped tokens are BTC and ETH, but only on the Stabila blockchain.
Many people moved their holdings to stable not only for cheap fees but for instant transactions. Yes, transactions on the Stabila blockchain are instantaneous and enter the frozen state in less than 50 seconds.
All these crypto coins are available on Moneta Digitec crypto exchange for easy access. Therefore, whether you invest in cryptocurrencies or not, or are a new or seasoned crypto enthusiast, cryptocurrency offers tremendous potential as a source of income. All you need to do is identify the right crypto to buy based on some of the characteristics outlined earlier in this article.
Disclaimer: The content of this article is not investment advice. Neither does it constitute an offer or solicitation. It is not an offer, and it is not a recommendation of any investment product.
Last updated: 9 August 2022
