Cryptocurrencies are now accepted worldwide. In fact, hardly anyone alive today has not considered investing in cryptocurrency. Investing in cryptocurrencies is indeed a wise decision. However, the crypto market has been in decline ever since the year 2023 commenced.
Rather than preparing for the worst and believing that cryptocurrency would eventually drop to zero, you should be contemplating the cryptocurrencies to buy during this bear market to prepare for the next big bull run in the cryptocurrency space.
This article will discuss the top 10 cryptos to buy in the bear market.
1. Cronos
Cronos (CRO) is the coin of Crypto.com, a well-known cryptocurrency exchange network. It was developed to accelerate the acceptance of cryptocurrencies worldwide. It does this by making accessibility and convenience much easier and enhancing cryptocurrency security to ensure individuals have complete control over their identity, information, and money. Cronos (CRO) can process an incredible number of transactions every 60 seconds, making smart contract execution quicker, cost-effective, and less environmentally damaging. As most cryptocurrency exchange tokens outperform long-term, the Cronos price could skyrocket as the company expands and gains new customers. You also have to factor in that a lot of these exchange coins are going for a discount right now.
2. Decentraland
Although the metaverse wasn’t recently just created, involvement in its game-changing prospect has risen so dramatically the number one social chain rebranded itself to leverage it. One of the current biggest metaverse platforms, Decentraland, leverages the increasing popularity of digital virtual worlds. However, it does compete with other cyber worlds. Decentraland is user-friendly, with the option for players to become real-estate tycoons by buying affordable land NFTs and profitably selling them. Furthermore, because the game is free and can be played in a web browser, it is capable of becoming a huge virtual reality network.
3. Ethereum
Ethereum is expected to increase as a coin is also high. The blockchain is utilized for more than just smart contracts and transactions; real crypto assets are frequently created on the Ethereum blockchain, adding value to it. It has recently led to a substantial rise in demand for Ethereum. Ethereum is one of the most intriguing forms of technology ever created. It has attracted attention and enablement from some of the world’s most influential business owners in the tech and finance sectors. One can see how Ethereum is a worthy investment, not just because of its price but also it’s potential as advanced technology.
4. Enjin
Enjin Coin is an ERC20 token built on the Ethereum network. It means that the project offers both transactions and smart contracts. Enjin was also one of the first projects to start testing the Raiden Network, the Ethereum version of the Lightning Network, before working on a custom scaling solution called Efinity. A player can use these items in-game, trade them, or even sell them for ENJ when they get them. Enjin is a unique form of digital currency. It can still be traded like the other cryptocurrencies, but that’s not the only thing it’s for.
5. XRP
You can invest in XRP, trade it for other cryptocurrencies, or use it to pay for transactions on the Ripple network. However, most ledger holders must accept the verification of transactions before they can be put into the ledger. It ensures the integrity of the transactions. Still, if you think Ripple will win as a payment system, you might want to buy XRP. Make sure that you only use the money you can afford to lose.
6. Basic Attention Token (BAT)
It is advisable to consider investing in Basic Attention Token (BAT) for numerous reasons. Many people believe that they must be a good investor with a great deal of money — however, with a little common sense and study, it’s fairly easy for beginners. The Basic Attention Token, or BAT, is the fuel utilized in powering the blockchain online advertising network. This network’s consumers can be either advertisers or audiences. Users can watch advertisements by other customers and earn BAT tokens for their focus and effort using the Brave Browser.
7. The Sandbox
The Sandbox (SAND) is an online gaming ecosystem built on blockchain. Everyone uses the chain by creating, trading, and monetizing virtual property known as “land.” The program capitalizes on the fame of non-fungible tokens and a digital landscape to provide users with a more thrilling gaming experience. When you play conventional centralized games, you put all your hard work and asset into the game. But when you stop playing, your finances are lost till you return to the network. Recently, there has been an upsurge of investment opportunities in the SANDBOX metaverse.
8. Polkadot
The Polkadot platform works with a relay chain that uses a version of the proof of stake consensus mechanism. The DOT token allows the validators to vote, letting them participate in how the project grows and changes. Polkadot is very flexible, so it can be used to make blockchains that serve a very specific purpose in an app, like security or another part of a Dapp. Polkadot also lets developers make the most of the features of other para-chains, develop right away, or trade ideas to develop new ideas.
9. Cardano
When talking about Cardano crypto, the first question that comes to mind is what it is. According to the official Cardano website, it is a Proof of Stake blockchain platform with no central authority. Cardano is different from other blockchain networks because it has more value. First, you have a Proof of Stake-based blockchain protocol that is good for the environment. On top of that, Cardano is the first blockchain protocol based on research and facts. Cardano also follows the basic rules of blockchain networks by providing a safe, trustless place for transactions between people who don’t know each other.
10. Shiba Inu
Shiba Inu is a project that was started on the Ethereum network. It is the reason Shiba Inu’s consensus mechanism is the same as Ethereum: Proof-of-Work (PoW) is being replaced by Proof-of-Stake (PoS). The PoW system means mining rewards depend on the nodes’ power. The number of coins you stake in the network determines how much you can earn from mining. The whitepaper, or different versions of it, may tell you the most about how real the coin is. It is because the whitepaper has been changed since the coin’s launch. When Ryoshi made Shiba Inu, they sent half of the supply to Vitalik Buterin, who made Ethereum.
Top 3 Crypto Exchanges
1. Uphold
Uphold is considered to be one of the safest ways to buy cryptocurrency by many digital asset experts. Since launching in 2014, Uphold has maintained an exemplary reputation for security among its customers. The site is unique in the sheer amount of assets it offers. You can get started on Uphold here.
Pros
- Available in more than 180 different countries
- Transactions sent between Uphold users are completely free
- Huge list of cryptos available
Cons
- Fees are unclear in certain buy and sell spreads
2. Binance US
Binance US is a cryptocurrency exchange for U.S. residents that allows users to buy, sell, and trade supported cryptocurrency. Binance US also offers “staking,” or lending of several cryptocurrencies, paying users interest for lending their crypto assets. They have a wide list of cryptos available and super low trading fees. You can get started on Binance US here.
Pros
- Great looking interface on desktop & mobile
- Beginner friendly
- Low trading fees
Cons
- Fewer crypto-to-crypto currency pairs than global Binance site
3. Crypto.com
If you’re looking for an affordable, all-in-one cryptocurrency platform, Crypto.com might be right for you. The more Cronos (CRO) you’re able to stake, the more benefits you’ll get from this exchange. They also have a huge list of cryptos available. You can get started on Crypto.com here.
Pros
- Wide list of crypto available
- Low trading fees
- Staking available
Cons
- Lack of educational resources
Final Thoughts
Cryptocurrencies are here to stay, and there’s no doubt about it. The question is, where in the market is the best place to put your money? Here are some of the things to remember as you decide which cryptocurrency is the best investment to embark on: Remember that cryptocurrency is not a get-rich-quick scheme if you only want to invest and not use it to buy or sell things. Rather, you should consider it an investment for the long term.
