Invest in Cryptocurrency: Best Crypto Coins to Buy Now

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Cryptocurrency is any kind of currency in digital or virtual form. There is no central authority to issue or regulate cryptocurrencies and in order to protect transactions cryptography is used. All transactions and issues of new units are recorded in a decentralized system, blockchain.

According to exchanges, the number of cryptocurrencies has doubled in 2021, meaning more than 5,000 new crypto projects have been launched. How to understand which cryptocurrency to invest in? This presents great opportunities to invest in cryptocurrency, but also great threats.   

Explore Cryptohub to find the best cryptocurrency to invest in today. See also ✅top crypto currencies ✅ stablecoins ✅other alternative coins
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Crypto Stocks

Intro to the market

Top 5 crypto currencies by market cap are Bitcoin, Ethereum, Tether, USD Coin and Binance Coin. Cryptocurrencies are volatile and coin prices can fluctuate widely. Take Bitcoin as an example. It peaked around $63,000 in November 2021 and fell to $29,000 in May 2022. Where are all those people who were shouting “Bitcoin for $100,000” now? As you can see, cryptocurrency investing carries a high degree of risk. The whole purpose of our Cryptohub and Gainy is to help you choose the best cryptocurrency to invest in today.

Moreover, with the cryptocurrency craze in full swing, scammers are coming out of the woodwork looking to take advantage of novice investors. This happens because the industry is not regulated and for some reason still doesn’t have a user-friendly UX/UI. Here are some of the most popular scam frameworks, which still work despite the spread of information. 

Scam frameworks

Investment Schemes

There are a number of investment schemes that promise outrageous returns. They usually present a new cryptocurrency to invest in and most often ask to refer to a friend. These schemes often turn out to be Ponzi schemes, where early investors are paid with money from new investors, rather than from actual profits. In many cases, these schemes collapse, leaving investors with nothing.

Fake Exchanges

Another common scam is fake cryptocurrency exchanges. These exchanges may look legitimate, but they are often set up to steal people's money. They may offer unrealistic rates for currencies, or may simply disappear after people deposit money into them. So you should always check that you are on the correct website. Elrond wallet, for example, always puts a warning on the screen, like “Check that the website address is like this…” It's a good example of care for users. 

ICO Fraud

An ICO, or initial coin offering, is a way for startups to raise money by issuing their own digital currency. It’s like an IPO but for crypto. You buy coins very cheap in the beginning and when they come out on the market, you can sell them because they usually jump on the first day. Unfortunately, many ICOs have turned out to be frauds, so you sent money at pre-ICO, but the supply just didn’t come out. 

So how do you decide what cryptocurrency to invest in?

The first factor to consider is tokenomics. Sounds like rocket science, but it’s not and actually very important for choosing a cryptocurrency to invest in now. Basically, it consists of two things: the purpose of the coin or its intrinsic value and the supply of tokens or coins. For example, Bitcoin is often used as a store of value, while Ethereum is used for its smart contract functionality, and Solana is a payment for developers for their work on their platform. 

Token supply. If there is an unlimited possibility to create tokens, then the value of one can be infinitely diluted. When there is a limit or at least a condition for the new supply, then the value and the price actually grows if the project behind it grows. The general recommendation is to look at coins with circulation supply which surpasses 50%. You can see this metric on our Crypto hub to pick the best cryptocurrency to invest in now. 

Another factor to consider is the team behind the project. A strong team with a track record of achieving results is more likely to succeed than a team with no experience. If you want to do research on the team, find the Telegram channel of the project and try to ask questions there. In good projects the audience and community managers are quite responsive and can provide a lot of information, so you can make more informed decisions on which cryptocurrency to invest in.

Finally, it's important to look at the wider market conditions. Cryptocurrencies are more volatile than traditional assets, so it's important to pay attention to factors such as market cap and trading volume. That said, the crypto industry is still developing, that’s why we will see successes and failures. The stock market is more than 100 years old. The crypto is 10 times younger. By taking all of these factors into account, you'll be in a better position to choose the right cryptocurrency for you.

That's why we arranged all important information about the best cryptocurrency to invest in on this page. Here you will find the newest cryptocurrency to invest in and read about their project to make a decision whether you want to invest in these coins.

The future of crypto

According to Stu Alderoty from Ripple, there have been “delays in addressing crypto with thoughtful, rational and practical legislation in the U.S., there’s been a missed opportunity to both protect and educate consumers, as well as provide understandable guardrails to responsible actors in the space.” But given the recent momentum, it's no surprise that more and more countries are considering legalizing cryptocurrency just now. The US, Canada and (!) Salvador allow crypto payments, whereas China and Egypt have prohibited Bitcoin. 

Anyway, it feels like the world is melting and even the most ardent opponents are giving way to crypto. Further legalization would provide a major boost to the industry, as cryptocurrency would gain legitimacy in the eyes of both businesses and consumers. In addition, there will be more places where to invest in cryptocurrency. For example, institutional investors would be able to invest in cryptocurrency through traditional channels such as stock exchanges. Retail investors in some countries (Mexico for example) can already buy crypto in special ATMs. As a result, the legalization of cryptocurrency would likely lead to even more explosive growth in years to come. 

There are already some bridges to traditional financial systems in the form of stablecoins which provide the primary on-ramp into the digital asset ecosystem. A stablecoin is a crypto currency that is tied to another asset, for example, US dollar. They are often people's top cryptocurrency to invest in, because the issuing organization has to hold some reserved for the back up. Just like the Federal Reserve system in the US had to hold gold as a backup for the dollar. In the case of stablecoins the currency is virtual. But it can also be tied to non-physical assets, such as algorithms. 

You can’t make up your mind what is the best cryptocurrency to invest in right now because of their quantity and difficulty of analysis or simply because you are afraid of scams, you can take a safer path and invest in it indirectly. There are plenty of cryptocurrency stocks to invest in. These are the companies that work in the crypto industry and directly profit from it. You can find such stocks in the Gainy app. For example, we have a collection of Cryptocurrency stocks.

Download to find what they are. 

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