The Top 7 Cryptocurrencies to Purchase Right Now

Since their peak in November 2021, cryptocurrencies have had a brutal bear market. The once-hot asset class's total value has decreased by about two-thirds in less than a year, from nearly $3 trillion in November of last year to less than $1 trillion in late August. The decline has matched stock market selling brought on by rising inflation and interest rates, which sent stocks into bear market territory as well. However, due to less regulation, fewer well-known companies, and the mysterious technology that powers it, the world of cryptocurrencies is significantly more dangerous than the stock market. These factors can result in "rug pull" scams or the abrupt collapse of a so-called stablecoin. In conclusion, the crypto market is not for those who are risk averse. What is the best cryptocurrency to buy for individuals able to handle high volatility, though? The top seven cryptocurrencies to invest in are listed below.

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Seven of the best cryptocurrencies to purchase right away.

Bitcoin (BTC)

Bitcoin should be at the top of every list of the best cryptocurrencies to buy because it is essentially a must-have investment for anyone wishing to dangle their toes in this asset class. The first cryptocurrency and the one with the greatest market capitalization, Bitcoin was created in 2009; as of mid-September, BTC alone accounted for nearly 40% of the market. Bitcoin, sometimes referred to as "digital gold," derives value from its rarity and long history of serving as a store of value. Only 21 million Bitcoins will ever be created, and 19.2 million of those, or 91%, are now in use. A recent sell-off in the stock market caused Bitcoin to once again drop below the $20,000 threshold. While some detractors claim that Bitcoin's heyday is over,

Ether (ETH)

It is now time. The Ethereum blockchain made the significant transition from the proof-of-work to the proof-of-stake, or PoS, algorithm on September 15. By switching to proof-of-stake, the well-known decentralized finance, or DeFi, blockchain should be easier to scale and use less energy during transactions. Towards the long run, it is anticipated that the "Merge" will be the first step in reducing the exorbitant Ethereum gas fees that currently operate as a barrier to entry for users wishing to transact on the network. The switch to PoS could reduce the network's energy consumption by more than 99%, bringing Ethereum—the most well-liked blockchain for developers to build upon—into better alignment with its guiding principles.

Solana (SOL)

Like Bitcoin and Ethereum, Solana has its own blockchain. Additionally, Solana was created from the ground up for DeFi, a fast expanding field of finance utilizing smart contracts, just like Ethereum. DeFi is a broad enough field to draw numerous winners, and it has the potential to ultimately disrupt all kinds of transactions that are currently cluttered with agents, brokers, centralized exchanges, and other clumsy and expensive middlemen. SOL has already established itself as a top-10 cryptocurrency with staying power and a solid ecosystem of decentralized applications, or dApps, of its own, while Ethereum's switch to PoS will bolster Solana's biggest rival. In addition to a rising presence in gaming, non-fungible tokens, or NFTs, have increased SOL's market share.

Avalanche (AVAX)

Avalanche, a rival in the burgeoning fields of DeFi and smart contracts, is next on the list of the best cryptocurrencies to invest in. The Avalanche blockchain, which bills itself as the world's fastest smart-contracts platform, uses AVAX as its native currency. With the goal of becoming the AWS of the cryptocurrency world, Avalanche has high expectations for its platform. The abbreviation AWS stands for Amazon Web Services, a very well-liked division of Amazon.com Inc. (ticker: AMZN) that provides cloud computing services and is used by numerous Fortune 500 corporations and major financial institutions to power their websites and digital offerings. Businesses are becoming more interested in starting their own blockchains, which Avalanche now makes possible with a brand-new feature called subnets. At about $20, AVAX is rising.

Coin Binance (BNB)

Binance Coin is the third-largest non-stablecoin cryptocurrency by market cap, behind only Bitcoin and Ether, with a market cap of around $45 billion. The largest cryptocurrency exchange in the world, Binance, is committed to growing the cryptocurrency community, and its BNB Coin serves as the native currency on the Binance blockchain. As of August 30, trailing-24-hour volume on Binance was over $16 billion, demonstrating its market dominance over Coinbase Global Holdings Inc. (COIN), its nearest rival, which had $2.3 billion in volume. BNB is really one of the more seasoned coins in this new market, having made its debut in 2017. BNB also has the advantage of being even more

 deflationary than Bitcoin, as it performs quarterly "burns" of the coin that lower its value.

supply. Despite the fact that more than 80% of the 200 million coin limit are currently in circulation, the burning process will eventually reduce the supply to 100 million coins.

Cosmos (ATOM)

Cosmos is the following excellent cryptocurrency to purchase. The ATOM token is a so-called governance token that grants owners a proportional vote in how the project should progress. It also contributes to the security of the Cosmos Hub blockchain by creating new tokens through staking. Cosmos is a top-25 cryptocurrency with a market worth of more than $3 billion and a trading history going back to 2017. The project's objectives are admirable, with the aim of improving the ecosystem of blockchains' expanding developer friendliness and enabling more seamless communication between them, which is currently lacking greatly. While increasing interest rates may continue to stress the cryptocurrency industry, long-term investors should eventually think about getting exposure to

Filecoin (FIL)

When stablecoins are excluded, Filecoin, the least valuable cryptocurrency by market cap among the best cryptocurrencies to buy right now, ranks just outside the top 30 at $1.5 billion. It should be noted that while all of the cryptocurrencies on this list have fallen significantly from their highs, Filecoin's decline has been particularly harsh: FIL has decreased more than 97% from its all-time high above $237 in April 2021 to less than $6. However, Filecoin is a fascinating project: It's a decentralized, blockchain-based digital storage platform that enables users to openly store crucial information. Transactions are made in FIL, the local currency. As a substitute for centralized data storage, Filecoin's FIL token encourages data storage while simultaneously making censorship more difficult.

incredibly challenging Look no further than Stanford University's Starling Lab, an academic research facility, which has used Filecoin to assist in real-time documentation of Russian war crimes in Ukraine in an effort to counter misinformation, preserve an accurate record of history, and hold war criminals accountable. In June, FIL fell to a 52-week low of $4.82.

7 top cryptocurrencies to purchase right now:

• Bitcoin (BTC)
• Ether (ETH)
• Solana (SOL)
• Avalanche (AVAX)
• Binance Coin (BNB)
• Cosmos (ATOM)
• Filecoin (FIL)