7 Better Cryptos to Buy Instead of Beaten-Down Bitcoin

  • Here are seven of the best cryptos to buy for the long haul.
  • Cardano (ADA-USD) :Hydra update will take its scalability and speeds to new heights.
  • Polkadot (DOT-USD): Built from the ground up to support Web3.
  • Avalanche (AVAX-USD): Deflationary system bodes incredibly well for AVAX's price.
  • Ethereum (ETH-USD): The Merge will take things up a few notches for ETH.
  • Solana (SOL-USD): Transaction speeds over 65,000 per second make it a true Ethereum Killer.
  • Dogecoin (DOGE-USD): Its inspired community won't let it die anytime soon.
  • Decentraland (MANA-USD): Real-world partnerships and a growing user base will push MANA up the crypto ranks.
Cryptos to Buy - 7 Better Cryptos to Buy Instead of Beaten-Down Bitcoin

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The pandemic years were huge for the crypto market. Investing in cryptocurrency became the latest fad among novice investors, and smart money began pouring into the sector. However, with multiple headwinds on its back, Bitcoin (BTC-USD) and other industry stalwarts have taken a hiding. Nevertheless, there are several quality cryptos to buy that could blow up in the coming years.

Investors are always looking for the next cryptocurrency to explode all the time. However, I feel the best coins to invest in boast the strongest fundamentals and use-cases. As a believer in the sector’s long-term potential, it’s ideal to have a balanced portfolio to get the most bang for your buck.

Let’s look at the best coins to invest in apart from the beaten-down Bitcoin.

ADA-USD Cardano 58.6 cents
DOT-USD Polkadot $9.61
AVAX-USD Avalanche $24.27
ETH-USD Ethereum $1,819.55
SOL-USD Solana $40.52
DOGE-USD Dogecoin 8.2 cents
MANA-USD Decentraland $1

Cardano (ADA-USD)

Cardano (ADA) token with blue and orange digital background.

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There are many cryptocurrencies, but perhaps the best cryptocurrency to invest in is Cardano (ADA-USD). Its network is probably the most robust from a technical perspective and could potentially handle one million transactions per second in the not-so-distant future.

It achieved a massive milestone last year when it implemented smart contract functionality. This will enable developers to build decentralized applications on the blockchain directly. Over 2,000 smart contract scripts are on the Cardano blockchain at this time.

With the implementation of the Hydra system, Cardano could handle 1,000 transactions per second per pool. ADA already runs on the highly efficient proof-of-stake concept, and new updates such as Hydra will take its speed and scalability to new heights.

Polkadot (DOT-USD)

Polkadot altcoin logo on pink background

Source: shutterstock.com/nurionstd

Polkadot (DOT-USD)  is a blockchain protocol designed to create multiple interoperable blockchains to communicate with each other effectively. Its developers plan to eventually build a completely decentralized web. Web3 is at the heart of the Polkadot growth story.

The up-and-coming phenomenon will allow creators to create more interactive experiences and have more control over their content. Once the Web3 revolution is in full flight, Polkadot is likely to take off in a big way. Moreover, it has time to further expand its ecosystem by adding new functionalities to its parachains.

Avalanche (AVAX-USD)

gold Avalanche (AVAX) cryptocurrency concept coin

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Avalanche (AVAX-USD)  is a leading decentralized application platform that is significantly cheaper and quicker than its rivals. The crypto stands out with its deflationary design, ensuring that AVAX’s price increases over time. Its transaction speed is at an amazing 4,500 per second.

Smart contracts are adaptable to Avalanche, likely to boost development activity through higher user demand. Avalanche’s platform burns its transaction fees, effectively removing coins from circulation. It increases the scarcity relative to the market and effectively boosts its price. The feature is significantly attractive to long-term investors.

Ethereum (ETH-USD)

A concept image of a virtual coin based on the Ethereum logo.

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Ethereum (ETH-USD) is arguably the biggest player in the crypto space, offering the most real-world utility. It is the most widely used network for decentralized finance projects and non-fungible tokens (NFT) marketplaces. It represents over 50% of the DeFi market share right now.

The primary issue with ETH’s bull case is its lackluster speed compared to other blockchains. Its developers have taken note of that, and the network is transitioning to a proof-of-stake model, which will significantly bump speeds and reduce transaction costs. The Merge could occur by the conclusion of this year or by early 2023. Hence, ETH might go on a bull-run around that time.

Solana (SOL-USD)

Solana Crypto currency Gold Solana SOL. Close up on white background Blockchain concept 3d rendering

Source: pasit chomying / Shutterstock.com

Solana (SOL-USD)  is a smart contract platform that has taken off over the past couple of years. Despite the current downturn, SOL gained over 1,000% since the beginning of 2021. Its success has a lot to do with its breakneck transaction speeds per second at 65,000.

Moreover, its latest project is called Solana Pay, a decentralized payment system. The energy-efficient system allows transactions to occur instantly with a fraction of a penny. With Solana Pay, SOL has become an even stronger payment coin. The diversity allows the coin to succeed in several areas and potentially compete with giants such as Visa (NYSE:V).

Solana boasts a war chest of the venture of capital funds, a truck-load of apps, incredible scalability and a passionate community that intends to take the coin to new heights.

Dogecoin (DOGE-USD)

A close-up shot of a Shiba Inu with a grinning face.

Source: Wollertz / Shutterstock

Dogecoin (DOGE-USD) flew under the radar for most of its lifecycle. Then the retail trading mania of early 2021 lifted several struggling companies to new heights and propelled DOGE. Its price skyrocketed through May last year, gaining over 10,000% in value. Since then, the meme coin craze has faded away fast, negatively impacting DOGE. Nevertheless, the token has a community and public image, effectively compensating for the lack of fundamentals.

Some of the biggest names in the financial world are firmly behind the crypto, including Mark Cuban and Elon Musk. Moreover, many businesses are including Dogecoin and other cryptocurrencies as payment options. The current macro-economic climate has devastated the more speculative offerings, but these conditions will pass eventually, which bodes well for Dogecoin.

Decentraland (MANA-USD)

A concept image representing Decentraland (MANA) with a token displayed in front of a price chart and a grid of dots.

Source: moxumbic / Shutterstock.com

Decentraland (MANA-USDis a 3D virtual reality world where users can buy digital real estate using cryptos. It focuses on forming real-world partnerships and allowing its users the ability to interact in an integrated virtual environment.

Built on the Ethereum blockchain, it features a growing virtual economy based on developing and monetizing gaming experiences on the network. Moreover, Decentraland is also a decentralized autonomous organization (DAO), unlike other metaverse coins. It allows users to use their MANA to vote on various issues in the development of the network.

Decentraland has been attracting plenty of real-world partnerships with companies including Samsung. Additionally, it hosted the first-ever metaverse fashion week on the platform, with multiple brands taking part in the historic event. Hence, MANA has the potential to make it big in the crypto scene down the line.

On the publication date, Muslim Farooque held a LONG position in Solana and Ethereum. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.


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