The cryptocurrency market is volatile, and investors have to be careful with what they buy. The hard part is that no one can tell when there will be a bull run or a bear trend. You just have to put your hope into fate and hope you’re lucky. In that case, you can lose money or gain profit, just like when you play at the best online casino.
Although investing in cryptocurrency is not a straightforward gamble, it is an exciting venture that can go up or down. However, if you have the right information, you can enjoy the goodies of the market, and you won’t have to worry about losing too much money over time. Therefore, before you get started, you should know what to buy.
In that case, we’ve brought you five different cryptocurrencies that have solid projects backing them that you should consider buying. Let’s get into it.
Even if you’ve not spent time in the cryptocurrency world, you should have heard of Bitcoin. It was the first cryptocurrency created, and it ushered in an incredible change to our financial system. It offers everything to users, and whenever you want to get started with buying cryptocurrencies, you should consider Bitcoin.
The good thing is that you can do many exciting things, with Bitcoin being the most popular coin in the Crypto ecosystem. As a result, if you have the money, you should consider Bitcoin as the number one cryptocurrency to buy. Also, when you buy, consider holding a large chunk of it for a long time.
Another top cryptocurrency that you should consider is Ethereum. Even though it is not the second cryptocurrency or part of the early tribes, it has grown to be one of the biggest in the world. Cryptocurrency has everything you need from a solid project, and as it stands, most of the applications in Web3.0 runs on the Ethereum blockchain.
Therefore you can see that ETH is the currency running everything with every transaction. In that case, the crypto has solid backing, and you can get an impressive return from it. As a result, you can’t go wrong when you buy ETH as your preferred cryptocurrency. But you should ensure that you’ve learned about the projects well.
Exchange Coins (BNB, LBANK, etc.)
Another set of crypto coins that you should consider is exchange coins. These cryptos have solid backings that would make them preferable in the ecosystem. As long as the exchange exists, the coin holders have nothing to worry about, and they would get a solid return when they hold for years.
In that case, for any crypto exchange website you want to join, you should check out the crypto they offer, which is the one you should go for. For instance, if you want to join Binance, your best bet is to go for BNB, as it is the entire ecosystem’s token. With that, you can rest assured that there is a solid backing.
Solana is very similar to Ethereum as it is a blockchain technology powering many projects. Therefore, you should consider the SOL coin as a worthy buy. Because of how expensive Ethereum is, many developers are moving to other blockchain technologies, and Solana is at the forefront of these migrations.
As a result, the SOL coin is getting enough backing in the crypto world, making it a suitable coin to buy, and the good thing is that it is affordable. Therefore, you can buy a few to hold for a long period, and when you start entering profit, you can sell some. You should certainly put this coin in your collection.
Cardano hasn’t been around for too long, but it has proven to be an incredible project in the ecosystem. Many developers see Cardano as one of the top contenders to usurp Ethereum, and undoubtedly, it has all it takes to do that, but it might take a long time for us to reach that point.
However, even if it doesn’t take over the other blockchain technologies, it is a solid project in its own right and one of the best out there. In that case, we believe that you should consider it as one of the crypto projects that you want to buy. In that case, you can hold it for a period to see if the value goes up.