7 Must-Buy Cryptos if You Only Have $100 to Spend

  • The article covers the best cryptos to pick up with a $100 bill
  • Algorand (ALGO-USD): gaining momentum through pertinent acquisitions and listings on top crypto exchanges
  • Solana (SOL-USD): boasts an enviable blockchain ecosystem with a throughput that comfortably trumps Ethereum
  • Cardano (ADA-USD): Growing transaction volumes due to higher institution adoption, the popularity of its NFTs, and with the integration of decentralized applications
  • Decentraland (MANA-USD): Leading metaverse coin, fostering a growing digital economy
  • Polkadot (DOT): The "blockchain of blockchains" which is at the heart of the Web3 phenomenon
  • Dogecoin (DOGE-USD): Despite its massive volatility, the meme token is here to stay on the back of its covetable community
  • Axie Infinity (AXS-USD): Popularity is increasing at an incredible pace generating billions in revenues
Must-Buy Cryptos - 7 Must-Buy Cryptos if You Only Have $100 to Spend

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2021 was a landmark year for cryptocurrencies. We saw how Bitcoin (BTC-USD) hit all-time high prices on multiple occasions over the past year and institutional buy-in from some of the top companies globally. Smart money continued pouring into the sector to complement the massive inflow of attention from individual traders.

However, the crypto market has been reeling since the beginning of the year due to multiple challenges in the sector. Interest in the industry has waned as investors look toward low-risk investments in the current macro-economic backdrop.

Nevertheless, over the past few years, the step-changes are permanent and should continue driving the sector towards new heights. The golden rule for investing in cryptos hasn’t changed much, though, which means that you should “Only invest what you can afford to lose.” Having said that, let’s look at seven must-buy cryptos offering strong upside potential.

ALGO Algorand $0.31561
SOL Solana $29.29
ADA Cardano $0.485261
MANA Decentraland $0.864723
DOT Polkadot $7.1402
DOGE Dogecoin $0.056815
AXS Axie Infinity $13.94

Must-Buy Cryptos: Algorand (ALGO-USD)

Algorand logo in light blue against a simple dark-colored, futuristic-looking background
Source: shutterstock.com/Shizume

Algorand (ALGO-USD) has fallen off a cliff, as have other altcoins. Despite the weakness, the project has grown at an impressive speed.

Its Layer-1 network ecosystem allows fungible and non-fungible created on other blockchains to effectively communicate with each other. Interoperability is at the heart of Alogrand’s bull case, which sets it apart from other altcoins.

Moreover, the Algorand Foundation wants to expand ALGO’s utility by acquiring companies offering complementary products and services. Its recent acquisition of file-sharing platforms Napster and Limewire is a testament to its plans to move the needle for the network.

Additionally, we have seen how ALGO is gaining momentum in the crypto ranks within a short period. Coinbase Global listed it in June 2020, and several other exchanges followed suit.

Solana (SOL-USD)

Macro shot of a physical coin from the cryptocurrency Solana (SOL-USD)
Source: Rcc_Btn / Shutterstock.com

Solana (SOL-USD) has been one of the best performing cryptocurrencies over the past couple of years. Its fundamentals are rock-solid, and it’s one of the few blockchains which is best positioned for growth in the coming years.

Moreover, it’s a growing ecosystem of decentralized finance applications, NFT marketplaces, gaming applications, and Web3 applications.

The network boasts a throughput of 60,000 transactions per second (TPS), with the potential to scale a hundred thousand TPS in the future. Ethereum (ETH-USD) can handle just a 15 TPS, needing a Layer 2 solution to break through its structural barriers.

Also, transactions on SOL’s network cost less than a penny, with hardly any price swings, making it one of the most user- and developer-friendly crypto platforms. Therefore, the current sell-off offers an attractive opportunity for the long term.

Must-Buy Cryptos: Cardano (ADA-USD)

Cardano (ADA) token with blue and orange digital background. Must-Buy Cryptos.
Source: Stanslavs / Shutterstock

Cardano (ADA-USD) has invited its fair share of opinions on the network’s long-term outlook and fundamentals.

However, a lot of the criticism is unjust compared to its robust fundamentals, which continue to improve over time. Cardano’s transaction volumes continue to increase with the integration of decentralized applications and the popularity of Cardano-based NFTs.

Furthermore, it has also been gaining plenty of traction with smart-money investors, with it having the highest allocation in Grayscale’s top altcoin investment funds. Institutional adoption is also a key feature in its development, as the changes on the network are peer-reviewed before deployment.

Moreover, Cardano has one of the most exciting growth blueprints for the future, which will take its speed and scalability to new heights. For instance, it plans to implement off-chain transactions under its ‘Hydra Update,’ which would enable close to one million transactions per second.

Decentraland (MANA-USD)

Screenshot of blockchain nft ethereum cryptocurrency game Decentraland (MANA) logo on laptop, mobile phone
Source: Lichi / Shutterstock.com

Decentraland (MANA-USD) is a virtual 3D world fostering a digital economy inside the metaverse. It focuses on facilitating social interaction amongst users and building real-world partnerships with leading brands.

Moreover, Grayscale also launched its Decentraland Trust earlier, which points to institutional investor interest.

Millions of dollars worth of land have been bought on Decentraland while brands are looking to showcase their products in its growing virtual world. Compared to its peers, Decentraland is more democratic, as users use their MANA tokens to vote on multiple developmental issues on the platform.

Moreover, social media companies are effectively gateways for the crypto platform. MANA-USD is a risky play but offers an attractive risk/reward opportunity.

Must-Buy Cryptos: Polkadot (DOT)

the icon for the Polkadot (DOT) cryptocurrency
Source: Zeedign.com / Shutterstock.com

Polkadot (DOT) is the “blockchain of blockchains,” which creates a secure and scalable ecosystem for multiple parachains.

Transactions on the Polkadot blockchain run on separate parachains, effectively solving scalability problems. It can carry out 1,000 TPS and aims to do 1 million soon. It currently has 100 parachains, but the sky is the limit here.

Its co-founder Gavin Wood is also the president of the Web3 Foundation, which is one of the most exciting technologies. Once Web3 is in full swing, creators will have better creative control and monetization tools for their content. Web3 represents the future of the internet, and Mr. Wood believes that DOT is at the center of the whole vision.

Dogecoin (DOGE-USD)

Concept art for Dogecoin (DOGE). Must-Buy Cryptos
Source: Shutterstock

Dogecoin (DOGE-USD) turned heads amidst the social media trading whirlwind last year. Coin prices have gone down significantly from the peak of the craze, which is a matter of major concern.

DOGE was launched as a joke by its programmers, but it has now developed into a digital payments system with some real-world utility. The primary growth driver behind the coin has been maverick entrepreneur Elon Musk, whose tweets have acted as catalyzers. Tesla (NASDAQ:TSLA) allows users to purchase merchandise using DOGE-USD, and it’s also accepted at its charging stations.

Dogecoin has a massive fan following, and its community continues to grow at a healthy pace. The meme coin has over 4 million holders, and with crypto holders expected to rise to one billion by the conclusion of 2022, its community will only get bigger.

Must-Buy Cryptos: Axie Infinity (AXS-USD)

Axie Infinity AXS token symbol with crypto currency themed banner
Source: WindAwake / Shutterstock.com

Axie Infinity (AXS-USD) is a metaverse gaming crypto platform. Its goal is to bring its technology to the masses through engaging blockchain-based games.

Through the platform, you can collect, raise, and trade tokenized creatures called Axies. Each Axie is essentially an NFT that boasts various features and attributes. Axie Infinity is the most popular game on the Ethereum network for active users.

The platform generated a whopping $1.3 billion in revenues, including fees for marketplace transactions. The future of AXS tokens depends on the popularity of the Axie Infinity game. Investors can effectively stake their tokens to earn rewards while a payout rate of over 30%.

On the date of publication, Muslim Farooque held a long position in ETHEREUM and SOLANA. 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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