Paul MaxisonCryptocurrency has been in a bear market for the last 9 months and is expected to remain so until the end of the year. Some say it's because of the global economic situation, but if that's true, doesn't that defeat the purpose of the "decentralized market"?
Others argue that it is unavoidable due to the halving of bitcoin every four years.
The market is in terrible shape, but opportunity often presents itself in bad times, and now is the best time to buy crypto because of how cheap it is; if you have patience and wait out the storm, it will truly be to "the moon" for your money.
In the article, I will be listing the 10 crypto coins with potential and also low risk to avoid losing your asset in a drastic dip.
1. Ethereum
Both a cryptocurrency and a blockchain platform, Ethereum is a favorite of program developers because of its potential applications, like the smart contracts (that automatically execute when conditions are met) and non-fungible tokens (NFT).
Ethereum has also experienced tremendous growth. From April 2016 to the beginning of September 2022, its price went from about $11 to around $1,568, increasing to 14,155%.
Ethereum is a network that allows developers to create their cryptocurrency and deploy smart contracts utilizing the network. While ethereum is far behind bitcoin in value, it’s also far ahead of the other competitors.
Despite the fact that it was released years after some other cryptocurrencies, it has far outperformed its market position due to its unique technology. It is currently the most popular blockchain and the second most valuable cryptocurrency after bitcoin.
2. Polygon (MATIC)
Polygon was created by a development team that made significant contributions to the Ethereum blockchain platform. Polygon is designed for Ethereum scaling and infrastructure development, according to CoinMarketCap. As a “layer two” solution, it expands Ethereum into a multi-chain system, improving transaction and verification speed.
Polygon has backing from the Binance and Coinbase Polygon cryptocurrency exchanges. Its token, MATIC, is used for payment services, transaction fees and as a settlement currency.
On July 20, Polygon announced in a press release that it had launched Polygon zkEVM, “the first Ethereum-equivalent scaling solution that works seamlessly with all existing smart contracts, developer tools and wallets.” It does this with a type of cryptography called zero-knowledge proofs, which lower transaction costs and increase throughput.
Polygon currently hosts 19,000 decentralized applications, including some from companies like Meta and Stripe — about a 600% increase since last October, according to a post on Polygon’s blog. In addition, Polygon fully supports the tether stablecoin. Which could contribute to the network’s future growth. Another plus is its investment in carbon neutrality, which recently has prompted price rallies.
FAQ; Are there risk of investing in polygon
Late last year, Polygon disclosed that it had patched a vulnerability that put about $20 million worth of its coins at risk, CoinDesk reported. A hacker discovered the exploit and notified Polygon, which had a fix in place within two days. However, black-hat hackers had already stolen over 800,000 tokens, leaving Polygon on the hook for about $1.4 million.
View polygon(MATIC) price now:
3. Tether (USDT)
Unlike some other forms of cryptocurrency, Tether (USDT) is a stablecoin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favored by investors who are wary of the extreme volatility of other coins.
4. Avalanche (AVAX)
Avalanche is a relatively new “layer one” blockchain — a blockchain that improves the base protocol to make the system more scalable, as Binance described it. It was founded as an Ethereum competitor by Ava Labs and computer scientists at Cornell University, one of whom, former professor Emin Gün Sirer, is a veteran in cryptographic research, according to CoinMarketCap.
As for the coin itself, Bloomberg reported on April 7 that avalanche beat out ether as Terra’s reserve currency for its own UST stablecoin. Luna Foundation Guard, the nonprofit organization that supports Terra, intended to acquire $100 million worth of avalanche as part of that initiative.
AVAX began trading in 2020, in a 24-hour initial coin offering. Its price has fluctuated from a low of $13.79 to a high of $146.22 over the past year. As of Sept. 1, the coin trades for $18.59.
5. Terra 2.0 (LUNA)
The Terra Classic blockchain used stablecoins — that is, coins pegged to fiat currencies such as the U.S. dollar, South Korean won and the International Monetary Fund’s Special Drawing Rights currencies — to power global payment systems, according to CoinMarketCap. Its native coin, now using the symbol LUNC, stabilized the prices of the blockchain’s stablecoins.
However, terra crashed and burned in early May, spurred by stablecoin volatility and overall skittishness in cryptocurrency markets, halting the cryptocurrency’s strong year and driving some crypto platforms into bankruptcy.
After the crash, Terra rebranded the original network as Terra Classic (LUNC) and launched Terra 2.0 (LUNA), a new blockchain without an algorithmic stablecoin, in an effort to stabilize the Terra ecosystem and help investors who lost money recoup some of their investment. LUNC coins trade separately from the LUNA coins that come with Terra 2.0.
6. Solana (SOL)
Developed to help power decentralized finance (DeFi) uses, decentralized apps (DApps) and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms to process transactions quickly and securely. SOL, Solana’s native token, powers the platform.
When it launched in 2020, SOL’s price started at $0.77. By early September 2022, its price was around $31.25, a gain of nearly 3,958%.
The main reasons for buying Solana, cited by U.S. News, are the high speed and low fees as well as its level of scalability. Solana is also used for non-fungible tokens (NFTs).
In fact, Solana has a reputation for being the quickest blockchain network as Solana can process as many as 50,000 transactions per second.
In comparison, Ethereum can process 15 transactions per second, while Bitcoin can process 7 transactions per second. Outside of crypto, Visa can process 1,700 transactions per second.
7. Binance USD (BUSD)
Binance USD (BUSD) is a stablecoin that Paxos and Binance founded to create a cryptocurrency backed by the U.S. dollar. To maintain this value, Paxos holds an amount of U.S. dollars equal to the total supply of BUSD. As with other stablecoins, BUSD gives traders and crypto users the ability to engage in transactions with other crypto assets while minimizing the risk of volatility.
Because of its performance over time, binance coin has proven to be one of the more stable investment options — relatively speaking. It’s the native token on Binance, which is the world’s largest cryptocurrency exchange, according to CoinMarketCap — and on Binance.US, the version U.S. residents must use. But despite its extensive functionality and the coin’s success in Binance sub-projects, binance coin is still a highly volatile investment.
Investors who trade frequently should note that Binance briefly paused deposits and withdrawals for some networks recently, including Polygon and Solana, while it implemented upgrades. A more recent one, on April 8, didn’t affect airdrops — rewards based on a percentage of users’ deposited amounts.
8. Cardano (ADA)
The Cardano network has a smaller footprint, which is appealing to investors for several reasons. It takes less energy to complete a transaction on Cardano than on a larger network like Bitcoin. This means transactions are faster and cheaper.
Last year, Cardano launched a “hard fork,” an upgrade that increased functionality — in this case, enabling smart contract deployment. Another hard fork, this one called Vasil, has had its June 29 release date postponed, probably until September, but once it launches, it should improve the Cardano blockchain’s scalability, The Daily Hodl reported.
Cardano recently launched a test version of a platform called AdaSwap where developers can build decentralized finance apps. AdaSwap could elevate Cardano’s status as a Web3 network and drive up the price of its coin.
9. Chainlink (LINK)
Chainlink uses a decentralized oracle network to facilitate secure interactions between blockchains and external data feeds, events and payment methods the developers hope will allow smart contracts to become the dominant form of digital payment, according to CoinMarketCap.
One thing working in Chainlink’s favor is a strategic partnership with Google under which Google uses Chainlink’s protocol to connect users to its cloud services, Benzinga reported. The project’s advisors include former Alphabet Chairman Eric Schmidt, DocuSign co-founder Tom Gonser and former LinkedIn CEO Jeff Weiner, according to Securities.io.
Chainlink is also the choice for the new inflation index from decentralized finance company Truflation, built to serve as an alternative to the Consumer Price Index. Whereas the CPI measures inflation using survey data, Truflation’s index uses price data with the CPI’s calculation model, CoinDesk reported. The Truflation index is designed to be more accurate, more transparent and more resistant to censorship than the CPI.
10. BITCOIN
MARKET CAP: $378.14 billion
Bitcoin which is generally known as BTC was a coin created in 2009 by Satoshi Nakamoto, Bitcoin’s price has skyrocketed as it’s become a household name. In May 2016, you could buy one Bitcoin for about $500. As of Sept. 1, 2022, a single Bitcoin’s price was around $19,989. That’s a growth of nearly 3,900%.
Many businesses already accept bitcoin as payment, which makes this cryptocurrency a smart investment. Visa, for example, transacts with bitcoin. After a four-year cryptocurrency hiatus, Stripe will also let customers accept bitcoin payments. The larger banks have begun to incorporate bitcoin transactions into their offerings as well.
Bitcoin also got a boost in May, when the Luna Foundation Guard announced it would make $1.5 billion in loans denominated by bitcoin and terra USD to stabilize the latter, Fortune reported.
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