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What to Buy in the Crypto Market Today

Aug 2, 2023
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2022 and 2023 has been a tough year for the cryptocurrency market. The sector's market valuation  fell by two-thirds, and most currencies lost between 70% and 90% of their peak market prices. However, we are beginning to see many cryptocurrency show positive signs and many more are now on their way to recovery. 

While most cryptocurrency prices are relatively low compared to their all time high,  now  might be the perfect time to invest and buy cryptocurrencies so long as you remain cognizant of the risk. 

We have taken the time to research different cryptocurrencies and have compiled a list of the best performing cryptocurrencies on the market  right now.

Bitcoin (BTC)

Undoubtedly, many consider it the best cryptocurrency to buy. However, many crypto investors seem to be keen to avoid it. Why is this?

The reason is simple: many experts prefer to invest in coins that have functionality beyond a store of value or payment method. Bitcoin is not a cryptocurrency with a  particularly  interesting project backing it up. Also, transactions with Bitcoin are quite slow, which makes it not the most ideal way to pay for goods and services.

However, Bitcoin remains the most popular cryptocurrency in the world and that alone makes it one of the best crypto assets to add to your portfolio.

How does Bitcoin work?

Bitcoin is a proof-of-work cryptocurrency that uses the SHA-256 hashing algorithm. To verify transactions on the blockchain, miners use the computing power of their mining rigs to solve complex mathematical puzzles in order to get BTC as a reward.

Bitcoin Overview, Source: Blockgeeks

In fact, you may say there's nothing special about Bitcoin in today's market. By today's standards, the transaction speed is quite slow and it does not offer any innovative features.

Why you should buy BTC (Bitcoin)

Bitcoin is the best cryptocurrency to buy for beginners and crypto investors who do not want to spend a lot of time on their portfolio. It is one of the most trusted cryptocurrencies and is available on most crypto exchanges.

In general, BTC is definitely a good way to get acquainted with the world of cryptocurrencies and a good crypto asset for risk management of your portfolio. It is also accepted as payment by many services, so it can be a good (but not the best) choice if you need crypto for making everyday payments.

Ethereum (ETH)

Ethereum is another big name in the crypto industry. It is valued by some above Bitcoin mostly because the network’s smart contract technology and openness to innovation is incredible. Ethereum is the second largest cryptocurrency after Bitcoin by market capitalization. This cryptocurrency (and the entire Ethereum network) offer users access to a wide range of features and applications.

Ethereum Logo, Source:

How does Ethereum work?

While ETH can be used as a payment method and a store of value, the Ethereum blockchain is primarily seen as a network for creating and interacting with decentralized applications, or dApps. 

Ethereum is a proof-of-stake cryptocurrency. This means that ETH can be staked, but not mined. One of the most interesting features of Ethereum is its Layer 2 solutions, a scaling solution in the form of separate blockchains that can easily and freely interact with the Ethereum main chain. This allows Ethereum to meet the needs of its users without sacrificing security and decentralization.

Why you should buy Ethereum (ETH)

Many crypto experts and enthusiasts believe that the asset will continue to grow in 2023 due to the high fundamental value of this project and its innovative and ambitious roadmap.

Like Bitcoin, Ethereum is also available on most exchanges - but it's even more versatile. It can be easily exchanged for any other token as long as its project is based on the Ethereum network.

If you are interested in DeFi and dApps, ETH can be a great investment option.  It is not only the largest platform for decentralized applications, many NFTs are also based on this blockchain. Given the functionality of Ethereum, it may well be that the next sensation in the crypto industry will also be related to ETH.

The Best Cryptocurrencies You Can Buy For Less Than $1

There are a number of cryptocurrencies In this category but not all of them are worthwhile investments. We have listed the ones that will make the best addition to your cryptocurrency portfolio. 

Polygon (MATIC)

Current Price: $0.72

Polygon Logo, Source, Polygon

The first easy to use platform for scaling and infrastructure development for Ethereum (ETH) was Polygon. It is an Ethereum Layer 2 scaling project that intends to provide multiple resources to speed up, lower the cost, and make transactions on blockchain networks simpler. Simply put, Polygon makes it possible for the Ethereum blockchain to essentially develop into a full-fledged multi-chain network similar to Polkadot.

How does Polygon Work?

The Polygon network brings together projects that are based on Ethereum Network. This increases the scalability, sovereignty and flexibility of these projects without sacrificing security.The Polygon network is based on a proof-of-stake consensus mechanism, and therefore, its native token, MATIC can be staked by investrors.

Polygon allows you to:

  • Provide links between Ethereum and other blockchains;
  • Make existing blockchains compatible with Ethereum.

MATIC is an ERC-20 token that runs on the Ethereum blockchain. It secures the platform and allows its owners to vote on governance proposals. It is also used to pay transaction fees.

Why you should Buy Polygon

In addition to the fundamental importance of the project and running parallel to the Ethereum network, Polygon is supported by two giants of the crypto industry, Coinbase and Binance.

Polygon’s association with one of the most promising Crypto project, Ethereum, is undoubtedly a significant plus for Polygon. Multi-chain functionality will become more important as cryptocurrencies enter the mainstream, so this crypto platform has a lot of potential.

Cardano (ADA) 

Current Price: $0.31

Cardano (ADA) is another project that can be considered one of the “faces” of the cryptocurrency market and it was created in an effort to be the most environmentally sustainable blockchain platform.

How does Cardano work?

The Cardano cryptocurrency gained the functionality of a smart contract in 2021 after a hard fork. Its developers constantly expand the functionality of the platform.

Here are some of the goals that Cardano has:

  • Building a truly secure voting system for token holders
  • Using Mathematics to Improve Blockchain Security
  • Building an infinitely scalable consensus mechanism

They are achieved in part through Cardano's unique Ouroboros consensus mechanism. It is a proof-of-stake protocol that allows for increased security without compromising the efficiency of ADA transactions.

Why you should buy Cardano (ADA)

Cardano has already shown impressive price growth, consistently ranking in the top 10 by market cap. It has great potential and could be the best cryptocurrency to buy. Its future value will depend on the adoption of blockchain technology and partnerships that Cardano will establish in the coming years.

Roadmap of Cardano. Source: Cardano

The project received a lot of support and hired experts to conduct scientific research in the field of cryptography, engineering and blockchain technology.

Unlike many other projects in the cryptocurrency space, Cardano has real value and delivers on its promise to make the world a better place. For example, it is used in agricultural supply chains to track counterfeit goods. Apart from its functionality, Cardano is also relatively eco-friendly as it uses a proof-of-stake consensus mechanism.

Stellar (XLM)

Current Price: $0.147

Stellar, a hard fork of XRP, has been giving people access to blockchain services since 2014. It is an open network that facilitates global transactions and acts as a more efficient store of value.

How does Stellar work?

The project's blockchain is known to the crypto community for its incredibly high data processing speed. The hybrid protocol significantly reduces the verification time of both transactions and the execution of smart contracts.

The Stellar network differs from other blockchain projects in its transaction fee structure. Each transaction costs exactly 0.00001 XLM, regardless of the size of the transaction itself. Given that XLM is a cheap cryptocurrency worth less than a dollar, Stellar transactions are unprecedentedly cheap.

Why you should buy Stellar (XLM)

As the cryptocurrency industry gains mainstream popularity, there is a need for cheaper transactions. And Stellar, with its strong technological foundation and established reputation, is one of the best candidates to capitalize on this need. XLM is responding well to the rise and fall of the crypto market and is likely to remain a worthy investment opportunity.

Considering long-term partnerships with large companies and financial institutions targeted at a wide audience, the project has every chance to grow in popularity. As a result, the price of the asset may increase.

Ripple (XRP)

Current Price: $0.73

Even though XRP is one of the largest cryptocurrencies in the world in terms of market cap and popularity, it is still quite cheap. It is a promising project and has already proven to be a worthy investment option especially after recently securing partial victory in its legal battle with SEC (the U.S. Securities and Exchange Commission) on 13 July.

How does XRP work?

XRP is the native cryptocurrency of the XRP Ledger, an efficient, scalable and sustainable blockchain. It offers users really low fees and high transaction speeds, and is also relatively environmentally friendly.

XRP Ledger is not only great for making transactions, but also an amazing platform for developing crypto projects. Here are some of the opportunities that XRP offers:

  • Simple international payments
  • High Performance Decentralized Exchange (DEX)
  • Secure and fast micropayments
  • All cryptocurrencies (except XRP) and non-crypto assets can be represented on the XRP Ledger as tokens.

Why you should buy XRP

XRP has been firmly in the top 10 by market capitalization for several years now. This cryptocurrency remains popular among both institutional and retail investors despites its ongoing SEC lawsuit. 

XRP should particularly be an interesting cryptocurrency to buy as experts predict a bull run if it completely wins the lawsuits filed against it by the SEC. 

XRP is often touted as the new alternative to SWIFT, and if it does manage to become a global decentralized payment system, one can only wonder how high the price of XRP will rise. 

Chiliz (CHZ)

Current Price: $0.077

Chiliz is an innovative platform that aims to bridge the gap between sports and its fans. They achieve this by organizing various exclusive events, selling merchandise and tickets, as well as communication channels - all with the help of fan tokens.

First football clubs to be tokenized: Source: socios

How does Chiliz Work?

Chiliz provides fans with Fan Tokens, a digital currency that allows them to improve their interactions with their favorite teams or celebrities. Fan Tokens are distributed through Fan Token Offerings (FTOs) hosted on a separate Socios platform. They can only be purchased with the CHZ token, an ERC-20 utility token.

Fan Tokens actually have a limited maximum supply, so they are scarce. They allow fans to participate in exclusive sales, make decisions about the club (for example, vote on the design of the logo, kit and merchandise of the club), and much more. The more tokens a user has and the more they  participate in the life of the community, especially in voting, the higher the status they acquire. As they move up the "career" ladder, they can even get VIP status.

Why you should buy Chiliz

Chiliz and Socios have big plans to expand their platforms. They already partnered with some of the world's most popular sports organizations, such as FC Barcelona.

CHZ has been in the top 60 by market capitalization on platforms like CoinMarketCap for a long time, showing its significant support. This is one of those cryptocurrencies that can be a worthy investment, both for earning on their subsequent sale, and for simply using the services offered by the project

What Measures Should You Take in a Crypto Rally ?

While the cryptocurrency markets are on the upswing, it's crucial to invest wisely by sticking to a few basis rules and techniques, such as:  

  •  Invest in a variety of investments to diversify your financial portfolio.
  •  Distribute your risk exposure to lessen the effect of a potential bear turn in any specific crypto.
  •  Do your own research (DYOR) and stay updated on industry news and developments. 
  • Do not make impulsive decisions due to hype in the market. 
  •  Adhere to a disciplined investment strategy.
  • Lasty, investors should always take optimum security measures. Therefore, use only secure wallets and ensure backup measures as appropriate 

Experts observe that crypto investors should continue taking a cautious approach as any new development in this space can lead to extreme situations.

In conclusion,  cryptocurrencies are a high-risk asset and investors should be careful when choosing projects to invest in. However, with the growing popularity and acceptance of cryptocurrencies, some projects such as Bitcoin, Ethereum, Cardano, Polygon, XRP, Stellar and Chiliz may represent good investment opportunities in 2023.


Is it safe to invest in cryptocurrencies?

Yes. Investing in cryptocurrency is safe as they are stored on the blockchain and all your information is encrypted. However, just like all asset classes, it comes with its own risk and an investor should be ready to accept this risk. 

What Is The Best Cryptocurrency To Buy Right Now?

The best cryptocurrency to buy now depends on the rest of your portfolio. If you don't have other cryptocurrencies, Ethereum or Bitcoin might be your best bet. Otherwise, it all depends on your risk appetite.

How To Find The Best Cryptocurrency To Invest In?

The easiest way to find the best cryptocurrency to  buy is to stay ahead of market news. Follow popular experts and independent investors, track trends and new interesting projects. Studying technical analysis would also be an advantage, but it is not required.