what's the best cryptocurrency to invest in right now

Best Cryptocurrency to Invest in and Why

You’ve probably scoured Reddit, YouTube, Nairaland, Quora, Investopedia, etc. for the best cryptocurrency to invest in.

Correct?

Now search no further since we’ve created a well detailed list of the best cryptos to invest for quick profit.

Interestingly, some of these tokens are currently trading on Binance, Coinbase, Coinswitch, Crypto.com, Revolut, as with other top exchanges, for less than $1.

That means you’ll spend little money to acquire them and who knows, you can become a millionaire if you buy and hold these assets in 2021.

On the same note, these are digital assets you can buy at the moment even if you’re a beginner looking to invest for short-term or long-term.

Location is not a limitation, hence, if you’re a crypto enthusiast in Nigeria, Australia, Kenya, Canada, China, Dubai, India, South Africa, etc. let’s get you started with the best cryptocurrency to invest in today.

What is the Best Cryptocurrency to Invest in 2021?

The best cryptocurrencies to invest in 2021 and hold till 2022, 2025, or the near future are:

  • Bitcoin (BTC)
  • Binance Coin (BNB)
  • Compound (COMP)
  • PancakeSwap Token (CAKE)

You can take a pick from any of these tokens, but let’s help you decide on which to go for.

1. Bitcoin (BTC):

Best Cryptocurrency to Invest in

Bitcoin has died over 400 times in the media, however, it is still holding strong.

The world’s top cryptocurrency was launched by Satoshi Nakamoto in 2009, and since then, it has created an uproar in the world of finance.

It’s worth noting that Bitcoin is valued at $40,000 (at the time of writing) but in January 2009, one Bitcoin was under 1 cent.

What does this tell you?

In a few years from now, Bitcoin’s price may be four to five times its current price.

These aside, here are the top reasons why you should invest in Bitcoin:

  • Hundreds of businesses in the US accept Bitcoin. A high-level adoption impacts price growth.
  • Bitcoin can be used to make purchases in over 2,000 vending machines in New Zealand and Australia.
  • Bitcoin is a legal tender in El Salvador, whereas Bitcoin trading is legal in Canada, the US, Australia, etc.
  • Most exchanges use Bitcoin as the base currency. Consequently, new traders will always be introduced to Bitcoin.

2. Binance Coin (BNB):

Best Cryptocurrency to Invest in Binance Coin

If you’ve traded on top exchanges like Binance, Coinbase, or Kraken, you may have heard of Binance Coin (BNB).

Now that’s how popular this cryptocurrency is!

BNB is the native asset of Binance, one of the world’s largest cryptocurrency exchanges.

This asset is used to pay trading fees on Binance while traders are encouraged to pay fees in BNB due to a slash in fees.

What’s more, BNB is used to buy newly listed tokens on Binance Launchpad.

Large amounts of BNB have been purchased in recent months to swap tokens on DEXs like BakerySwap, BurgerSwap, and PancakeSwap.

Read Also: Binance Smart Chain – All You Need to Know

A combination of these and constant promotion of BNB on Twitter by Binance’s CEO Changpeng Zhao has impacted the asset’s price.

For instance, BNB was valued at $37 on January 1, 2021 and by April 30, 2021, it had spiked to $627.

This price increment accounts for a 1594% surge within four months.

Other reasons why BNB is one of the best cryptocurrencies to invest in right now are:

  • A quarterly burn is conducted for BNB to reduce the number of tokens in circulation.
  • BNB can be staked to earn rewards, which encourages long term hold of the asset.

3. Compound (COMP):

Best Cryptocurrency to Invest in compound token

If you’re out to get the best deFi cryptocurrency to invest in 2021, check out Compound (COMP).

COMP has gained significantly in price (511% growth) between January and May 2021 due to several achievements in the Compound ecosystem.

Here’s what it looks like:

COMP was valued at $149 on January 1, 2021 and its price surged to $911 on May 12, 2021.

While this price growth is impressive, it gets even better since the project brings a lot to the table.

To begin with, users earn an interest when they deposit their tokens into the network’s pool.

The interest rate is attractive, which encourages users to lock their COMP tokens for a long time.

More COMP tokens being locked helps to reduce the number of coins in circulation thereby impacting on price positively.

Other reasons you should be serious about investing in COMP include:

  • Investors in Compound include Coinbase, Paradigm, and a16Z.
  • Compound uses top custodial platforms such as Coinbase Custody and Bitgo to secure staked tokens.
  • Interest rate incentive, which allows you to earn money while holding your tokens.
  • Compound supports the borrowing and lending of crypto.

4. PancakeSwap token (CAKE):

Best Cryptocurrency to Invest in Pancakewsap token

Looking for the best crypto to invest with 100 dollars?

Then check out CAKE, the native asset of decentralized exchange, PancakeSwap.

Now PancakeSwap is quite popular since it has become a home for shit coins.

Basically, noobs and professionals looking to get their hands on rare gems often rush to PancakeSwap, which has also led to the popularity of CAKE.

Admirably, this BEP-20 token was valued at $0.62 on January 1, 2021 but its price surged to an all-time high of $44 on April 30, 2021.

Some reasons why you should buy and hold CAKE in 2021 include:

  • CAKE can be staked for rewards on PancakeSwap. You can earn tokens like SYRUP and HAI.
  • A single CAKE token is currently priced at less than $100 ($16, at the time of writing).
  • CAKE is burnt occasionally to reduce its supply and increase its value.

Best Penny Cryptocurrency to Invest in 2021

The best penny cryptocurrency to invest in 2021 allows you to spend less while trading.

Some of these tokens are valued less than $1 while others are under 1 cent.

As such, if you’re on a tight budget but still need good gems to buy with little money, these are the ones to opt for.

With that in mind, some of the best cheap cryptocurrencies to invest in are:

  • XRP (XRP)
  • VeChain (VET)
  • SHIBA INU (SHIBA)
  • GreenTrust (GNT)
  • SafeMoon (SAFEMOON)
  • Reef.Finance (REEF)

Best Cryptocurrency to Buy in a Dip

The best cryptocurrency to buy in a dip is a virtual asset that is highly volatile.

You want a coin that will bounce off support levels immediately instead of one that takes days or weeks to consolidate before making a major leap in price.

Why’s that?

If you’re buying the dip, then you may be doing so to get quick profit when the market bounces.

To that effect, some of the most volatile cryptocurrencies are:

  • THETA (THETA)
  • Filecoin (FIL)
  • Verge (XVG)
  • Binance Coin (BNB)
  • Aave (AAVE)
  • Compound (COMP)
  • Algorand (ALGO)
  • Theta Fuel (T-Fuel)

Criteria for Our Selection

Unarguably, there are over 5,000 cryptocurrencies with high prospects for more in the near future.

For this reason, we used certain criteria to determine which cryptocurrency is best to invest in now during our selection.

The top criteria are based on fundamentals and they include:

1. Project’s Goals:

A coin may be surging at the moment, however, the steady increment in price has to be sustainable.

One way that can be made possible is if the project’s goals are unique and attainable.

In line with that, the founders of the project need to take significant steps towards in achieving these goals.

Bottomline:

We are more interested in what the project has done so far (milestones accomplished) than the prospect of what it could do.

2. Price Movement:

A look at the coin’s historical price movement tells us a lot.

For starters, we get to know its trend and how much it has surged since its launch in the market.

This knowledge is then used to project how high the token’s price can go in a matter of days, weeks, and months,

3. Team Behind the Project:

So, who exactly backs the project in question is another factor we hold in high esteem.

Are they experienced in blockchain technology? What blockchain solutions have they provided in the past? Who or what are they affiliated with?

These and many more are put into consideration while our picks were made.

Where is the Best place to Invest in Cryptocurrency

The best place to invest in cryptocurrency is a reliable exchange that has stood the test of time.

Such an exchange has set up the right security measures to ensure it is not prone to hack.

Coupled with that, it’ll ensure that you have easy access to your tokens whenever you want by minimizing downtimes.

Accordingly, the best exchanges to invest in cryptocurrency are:

  • Binance
  • Coinbase
  • Kraken
  • FTX

Once you’ve purchased your token, it is important that you transfer it to an offline or cold store wallet especially if you intend holding it for years.

Some hardware multi-cryptocurrency wallets you can use are:

  • Ledger
  • Trezor

Conclusion

Our guide to the best cryptocurrency to invest in and why will ensure that you get in early on projects that could surge significantly in price in the short and long run.

These are assets that are backed by a great team who have taken a step in the right direction to implement the project’s goals.

Now it’s left for you to make an investment decision.

10 thoughts on “Best Cryptocurrency to Invest in and Why”

  1. Excellent! Thank you for this, actually scouting a coin has always been my number one problem but i think with this i know which coin deserve to be on my watch list. Definitely going to invest my money on some. Thank you

  2. Algo is going to bounce so hard past $5 and everyone is going to wish they had stacked more at under $1.

    Have a great weekend Admin.

  3. MUIDEEN OLAWUMI

    You can’t ever cease to update us with beautiful blogs could you? Gradually this is becoming so much interesting. I so much love it

  4. Am overwhelmed … This blog is the best out there for dishing out a premium information free to general.
    Thanks for this information.

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