This guide to the best cryptocurrencies for beginners will help you identify the right tokens and avoid the next Terra. Here’s all you need to know.
Why invest in crypto?
The story of crosses like Terra can cast some doubt and hesitation, but the potential of the crypto arena cannot be ignored. While the volatility of the market has been considered a downside in previous years, there is no question that traditional currencies and other commodities have become very unstable thanks to economic and political issues. With the crypto sector growing at a rate of over 16%, it stands out as the obvious choice.
Given the cost-of-living crisis and ongoing inflation, millions of people will have a greater reliance on investments than ever before. As long as the right cryptos are chosen, now is the perfect time to join the financial revolution.
Eight great cryptocurrencies for beginners
While the crypto sector has plenty to offer both new and experienced investors, conducting the necessary research to unlock the right opportunities is essential. Here are eight great digital tokens that can help new traders build a diverse and thriving portfolio.
BudBlockz (BLUNT) – An exciting new coming with a unique use case and high growth potential
The best time to capitalize on the potential of crypto investments is when the token is still in its infancy. In the current climate, BudBlockz stands out as the best new token on the marketplace – not least for new investors who want to buy a low-cost token that offers huge potential to grow several thousand percent over the coming months.
BudBlockz is the world’s first decentralized platform for the cannabis industry. By enabling the purchases and sales of real-world and digital marijuana products through asset-backed NFTs, it is set to change the landscape by helping dispensaries and other cannabis businesses overcome many of the banking-related obstacles faced in recent times.
With the cannabis industry growing at a phenomenal rate in many jurisdictions, the BudBlockz community and underlying decentralized blockchain technologies will play an integral role in facilitating the transition into a new era for the sector. Fractional ownership along with an open and fair trading environment (which still provides privacy for traders) are certain to yield major developments for the industry.
While BudBlockz-supported dispensaries will accept digital transactions made via Bitcoin and other digital currencies, the $BLUNT token will be integral for all transactions. It has already seen many analysts highlight it as one of the most attractive tokens for investors in Q4 and into 2023. Moreover, it has amassed a community of several thousand investors despite still being in its pre-sale phase.
The BLUNT token opened at a price of $0.015 but has already hit $0.025 and is expected to double before it is publicly entered into the ledger. The innovative token can be withdrawn into any ERC-20 compatible wallet while it offers access to the Ethereum ecosystem too. If the 65% increase seen in the presale phase is any barometer, the suggestions that it could be the next Shiba Inu – only with a real purpose – could easily materialize.
2. Ethereum (ETH) – The most used blockchain in the world
Ethereum is ranked second on the list of cryptos with only Bitcoin sitting above it. However, the Ethereum network surpassed Bitcoin in terms of transactions recorded in 202 to cement its place as the most popular blockchain network. While it may not be necessary for crypto enthusiasts to know too much about how blockchains work, this #1 status makes ETH a popular choice for new portfolios.
Given that it trades at over $1,000 per token, the opportunity to use fractional ownership is an important feature for investors who wish to dip their toes into the market without huge exposure while learning the ropes.
Due to the widespread use of its underlying blockchain technologies, hundreds of altcoins rely on trading ETH. As such, exciting projects like Ribbon Finance, which expects to see daily trading surpass $100m within a few months, can further support the Ethereum token. It is subsequently considered one of the most sustainable digital tokens on the market.
Moreover, its current trading price is just one-third of where it was at its peak of just under 12 months ago while still sitting at 10x the price it was at in 2020. Crucially, ETH is one of the main driving forces for dictating movements within the industry. Following the merge with the Beacon Chain consensus layer in September, now could be the time to act.
3. Solana (SOL) – Powerful blockchain built to enable scalable decentralized apps
SOL is another very popular cryptocurrency that joins ETH at the top table of staked assets. With a transaction market cap of $12.7bn and has now cleared 100 billion transactions. In addition to playing a key role in the growth of NFTs as a whole, it has become a fascinating proposition for crypto enthusiasts – including novices looking for their first asset.
Like many of the established cryptos that are considered good options for investors heading into Q4, Solana saw exponential growth in 2021 to hit the moon but has since come back down to earth yet leveled out in a healthier place than it sat two years ago. At around $32.50, there is still plenty of room for growth.
And many experts believe that recent Solana updates provide further evidence that this could be a wise time to invest. SOL is now one of the top performing DeFi projects in relation to social activity while it is now recording around 40 million transactions on a daily basis. Volume increases and on-chain developments suggest that the price of its digital token could drive back up to the levels previously seen in 2021.
Solana is the fastest blockchain in the world and the fastest growing ecosystem in crypto, promoting scalable decentralized apps that are particularly fast for developers. As the SOL community continues to grow, the token’s potential should follow suit.
4. Polkadot (DOT) – Unique platform providing interconnectivity between blockchains
The Polkadot parachain token is currently trading at under $7, but experts have suggested that it could be back up to $8.19 by the end of this year and up to somewhere between $11 and $13 in 2023. This would signal an ROI of almost 100% in the space of a few months while long-term holders may even see the price soar to above $50 in the coming years.
DOT is an innovative PoS cryptocurrency that focuses on interoperability, which ultimately creates a connected community of blockchains and systems for truly universal digital token trading. The parallel blockchain (parachains) feature their own native coins, but it is the DOT native token that forms the heartbeat of the collective currency.
Another major development for Polkadot is that the network has set out to increase transaction speeds by up to 1,000 times for instant transactions. This would transform the use of crypto payments at online and real-world POS terminals, thus further cementing DOT’s importance.
In other words, investors could see their investments grow at a rapid speed as the importance of its underlying applications for businesses and consumers increase.
5. Bitcoin (BTC) – The Godfather of cryptos, the world’s most used cryptocurrency
The entire cryptocurrency and blockchain revolution can largely be attributed to Bitcoin, which was first launched in 2009. Since then, it has become one of the most hotly discussed topics in the world of finance while simultaneously highlighting the widespread application and power of decentralized digital currencies.
BTC has experienced ups and downs over the years, but long-term holders have seen massive gains. The world’s biggest crypto token didn’t break the $1,000 mark until 2017 but has been as high as $65k. While outside factors have seen the price drop to below $20k, the future of Bitcoin remains very bright and stable. In fact, some analysts have predicted that it could potentially surpass the $1 million mark by 2030.
Many new investors wrongly assume that they will need to invest a minimum of $20k to start trading BTC. However, the use of fractional ownership means that you do not have to invest in whole tokens, making it a far more accessible arena.
If nothing else, the familiarity of BTC makes it a good starting point for new crypto investors, not least because the importance of the digital token and its underlying technologies ensure that it is here to stay. Even when only a small amount of Bitcoin is held, it makes a great addition to most portfolios – which is why most successful traders hold it.
6. Binance Coin (BNB) – The Native token for the world’s largest crypto exchange
As a prospective new crypto trader looking for a suitable crypto exchange, it’s likely that you will have at least considered using Binance. After all, it is the world’s largest crypto exchange platform. The fact that it is used by over 28.6 million users instantly inspires a spike in confidence when choosing the exchange. If you are planning to do this, holding Binance Coin makes a lot of sense.
BNB is the coin that powers the BNB chain, making it an essential utility coin. It helps reduce trading fees when acting on the Binance platform and will retain its spot as one of the most important digital tokens for as long as Binance is the king of crypto exchanges.
The coin may be trading at around 5% of its peak price, but it is still around 7x the price that it traded at prior to a major bull run in 2021. Several experts have stated their belief that BNB can enjoy another bull run in 2023, which could make it a great solution for investors looking at mid-term developments.
Perhaps one of the most attractive features of BNB, at least for new investors, is that tracking its developments is very easy. In turn, making calculated and informed decisions should become simpler too.
7. Decentraland (MANA) – One of the largest metaverse platforms
If cryptocurrencies have highlighted the potential to blend the physical world with the digital arena, Decentraland is unquestionably one of the best examples. The huge metaverse transports users into an immersive virtual world where they can explore evolving lands and trade items courtesy of the MANA coin.
Players can trade everything from land to wearables and emotes while there are also unique digital assets and collectable NFTs. aside from delivering an immersive and exciting digital experience via the metaverse, there are opportunities for creators to sell items for MANA tokens. The MANA token itself is a thriving digital crypto that can be traded on the exchange.
MANA trades at just under $0.7 but has been as high as $5.47. As the metaverse continues to win new players and evolve into a digital phenomenon, many experts predict that the token itself will continue to climb.
For new crypto fans, it could be the perfect introductory digital token as it offers a chance to see how cryptos and digital assets work while having plenty of fun on the Decentraland platform. It’s not just trading, it’s a virtual way of life.
8. Dogecoin (DOGE) – The meme coin supported by billionaire celebrities
A number of meme coins have hit the headlines in recent times, including the likes of Shiba Inu. However, perhaps none have been as well publicized as Dogecoin. DOGE has gained public support from dozens of celebrities and was famously mentioned several times by Elon Musk. It has made millions of new investors aware of crypto and is a popular choice of meme coin.
Doge hit an all-time high of $0.7376 in Q2 of 2021. Like many digital tokens, as well as traditional commodities, it did experience a rapid decline in early 2022. However, the last few months have seen it level out at around $0.06. If it can recover to its former peak, this would mean growth of over 1200% for investors who strike while the price is low. Given that it is unlikely to drop much further, Dogecoin can be considered a low-risk move that is ideal for beginners.
Aside from the financial aspects, Dogecoin is a fun token to hold. In addition to the celebrity-affiliated factor, the open-source peer-to-peer digital currency feeds into a friendly community of traders from around the globe. Many of them are attracted to Doge partially due to the cute dog depicted on the digital token, as well as the unofficial tagline of Do Only Good Everyday.
Alongside BTC, Dogecoin is one of the most common tokens responsible for introducing new fans to the crypto arena. This familiarity is another reason to consider it as a focal point of the beginner’s portfolio.
The final word
Stepping into the cryptocurrency arena can feel daunting but a diverse portfolio of well-known tokens and low-cost new entrants with high potential can see your investments shoot to the moon. With the eight solutions above, you won’t go far wrong.
Our number 1 overall pick is BudBlockz.
Learn more about BudBlockz (BLUNT) at the links below
Official Website: budblockz.io/
Presale Registration:: https://app.budblockz.io/sign-up
Telegram Group: https://t.me/BudBlockz
Discord Server: https://discord.gg/s7hBFgvTmN
All BudBlockz Links: https://linktr.ee/budblockz
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