7 Cryptocurrencies to Consider for Investment

Many think cryptocurrency is dead. If you’re one of those, let me point out a few things to you about why I disagree. Then, consider these seven cryptocurrencies for investing.

The POTUS gave you permission to invest in crypto. In fact, he told his people to start figuring out methods to stop all the scams, flat-out robberies, and better regulate it so that it is safer for all.

What's more, the EU decided to allow cryptocurrencies to co-exist with the fiat.

However, at this moment, there are “exchanges” designed solely to relieve you of your fiat and put it in their pocket. Be cautious. It’s like that old adage, “never put all your eggs in one basket.” Never put all your investments in one exchange and proceed with caution.

Make several small investments and withdrawals, fill out all the “Know Your Customer (KYC)” paperwork just like you would at the bank. It’s for your protection.

Be careful about flashy “buy me now” gimmicks. These fake exchanges are set up by knowledgeable operators. Time is your best friend. Take it slow and when you find an exchange you trust and can do business with, then make regularly scheduled deposits to take advantage of the ups and downs. It’s known as dollar-cost-averaging (DCA), and it is an investment strategy applied by millions for stocks, bonds, and now cryptocurrency too.

Those who accept the naysayers' claim remember many said the same in 2018. Bitcoin had shot up and sat at $19,650 that day just before Christmas. In fact, it was 15 DEC ’17. However, just one year and two weeks late on 29 DEC ’18, it seemed the bottom had dropped out, and BTC hit a low of $3,729.

Those who had bought at $18 or $19,000 were like, “Whoa is me, crypto is dead. I’ve lost my life savings. Whatever shall I do?”

Surely, you can understand their disappointment. But, since then, the price not only recovered but surpassed $68,900 in November ’21. The paradigm is almost a duplicate of the 2017 and ’18, only with a higher high and a higher low.

So, if you bought BTC at around $18 or $19,000 and waited it out, you’re up around $20,000, or the equivalent fraction because you can buy a fraction of a BTC coin.

What Are those Cryptocurrencies to Invest in Now?

Nothing earthshattering here. Take out the stablecoins, which are difficult to profit from, and you’ll have the top seven coins, altcoins and tokens, BTC, Ethereum (ETH), Binance Coin (BNB), Ripple (XRP) (it is not currently available in the USA until after the SEC suit is settled.), Terra (LUNA), Cardano (ADA), and Solana (SOL). All excellent coins, right?

I have written in-depth articles on some of these recently, so rather than regurgitating that, I will link to it and provide a price update according to Coin Market Cap.

Otherwise, I will summarize the coin, and its current projects, price, and all-time price comparison to the USD.

#1—BTC

As most are aware, BTC was the first “decentralized cryptocurrency” created by Satoshi Nakamoto in 2009. Supposedly, no one knows who Satoshi Nakamoto is. Elon Musk recently revealed his hypothesis on Twitter:

Whether that’s correct or not, just mentioning it spurred the price of BTC upward $3 or $4,000 within hours. Musk has a way of doing that with cryptocurrency. He once stated about Doge meme coins, “…That's why I decided to support Doge – it felt like the people's crypto.” That statement, of course, sent Doge spiraling upward.

So, what’s crucial to know about BTC?

“Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow ‘online payments to be sent directly from one party to another without going through a financial institution.’”—Coin Market Cap.

BTC Data Current as of 14 Mar ‘22

“The live Bitcoin price today is $38,536.97 USD with a 24-hour trading volume of $20,418,623,776 USD. We update our BTC to USD price in real-time. Bitcoin is down 1.59% in the last 24 hours. The current CoinMarketCap ranking is #1, with a live market cap of $731,539,966,436 USD. It has a circulating supply of 18,982,812 BTC coins and a max. supply of 21,000,000 BTC coins.”—Coin Market Cap.

What’s crucial to note in that blurb by Coin Market Cap is the “…max. supply of 21,000,000 BTC coins.” Some fear what will happen when all the BTC is mined. However, that should be what spurs your investment. The basic premise of investing and the economy is “supply and demand.” There will only ever be 21 million BTC, period.

BTC to USD Conversion Chart All-Time

Whether you invest in BTC or not will likely depend on whether you believe crypto is dead and if you want to entrust your fiat currency in the world’s #1 cryptocurrency.

Some believe that other crypto coins have more significant possibilities than BTC because the price is already high. But, what’s the ceiling for a coin with a definitive max? Could BTC exceed $100,000 per coin? If so, its growth potential for growth is still around 60%.

#2—ETH

“Ethereum is a blockchain platform created to support smart contracts and secure financial transactions. Ethereum's native cryptocurrency is Ether (ETH). Smart contracts are software that allows decentralized apps, or dApps, to run automatically on a blockchain when a set of predetermined conditions are met.

The Ethereum network includes dApps for gaming, gambling, socializing and even decentralized finance, or DeFi. Most nonfungible tokens, or NFTs, are also based on the Ethereum network.”—US News.

As you can see in the previous quote, Ethereum has a lot going on besides being the second most valuable cryptocurrency in the world. Many expect ETH to reach five figures. However, that won’t likely happen until the rest of the crypto market starts moving upward again.

Therefore, it might be a good time to start collecting ETH if you believe crypto will shake the current “bear market” or whatever is keeping it stagnant.

Given world conditions, some are saying hold rather than buy. That is up to you. No one has a crystal ball that I know of, so do the research and only invest money you can afford to lose.

ETH Data Current as of 14 Mar ‘22

“The live Ethereum price today is $2,568.69 USD with a 24-hour trading volume of $10,351,313,903 USD. We update our ETH to USD price in real-time. Ethereum is down 0.76% in the last 24 hours. The current CoinMarketCap ranking is #2, with a live market cap of $308,118,028,971 USD. It has a circulating supply of 119,951,568 ETH coins and the max. supply is not available.”—Coin Market Cap.

ETH to USD Conversion Chart All-Time

#3—BNB

I just wrote about BNB in my article, Do You Feel Obliged to Use BNB on Binance.

BNB is the Binance conversion coin, but some consider it a valuable investment or trading instrument due to its volatility. It started out at around 11 cents in July ’17, and it has risen to $368.15, so it could be worth a look. Give my article a read for more info on BNB.

BNB Data Current as of 14 Mar ‘22

“The live BNB price today is $368.15 USD with a 24-hour trading volume of $1,391,186,135 USD. We update our BNB to USD price in real-time. BNB is down 1.99% in the last 24 hours. The current CoinMarketCap ranking is #4, with a live market cap of $60,787,965,790 USD. It has a circulating supply of 165,116,761 BNB coins and a max. supply of 165,116,760 BNB coins.”—Coin Market Cap.

BNB to USD Conversion Chart All-Time

#4—XRP

Although XRP is currently unavailable on US exchanges, many expect a favorable settlement eventually. Even if Ripple has to pay a significant amount to settle the lawsuit, which most experts are betting against, it could still take off once the settlement terms are announced.

“The claim is that they traded $1.3 billion in their cryptocurrency XRP as a security without registering it with the SEC. Ripple and other parties have since countered with claims that the SEC is biased in its assessment.”—Hart David Carson.

Ripple's Brad Garlinghouse claims it is not a security but a device to transfer money internationally.

“XRP is the native cryptocurrency of XRP Ledger, which is an open-source, public blockchain designed to facilitate faster and cheaper payments. Sending payments overseas using the legacy financial system typically takes one to four business days and can be expensive. If a person uses XRP as a bridging currency, it’s possible to settle cross-border transactions in less than five seconds on the open-source XRP Ledger blockchain at a fraction of the cost of the more traditional methods.”—Coin Desk.

What makes XRP attractive to many of its proponents is the ability to transfer money anywhere in the world that accepts XRP for around $.25 per transaction much quicker than any bank and cheaper than most transfer services like Western Union (WU) or PayPal’s Xoom.

WU can charge as much as $15 or $20 to transfer money, and Xoom is $4.99. So, you can see how those who transfer money regularly would benefit from it. Take a company like Uber that pays drivers all over the world. The $4.74 savings per transaction from Xoom is massive when multiplied by millions of transactions to pay their drivers, and it is much more for WU.

RIPPLE XRP: HUGE XRP LAWSUIT UPDATE ... SEC COMMISSIONER HESTER PEIRCE IS SIDING WITH RIPPLE!

XRP Data Current as of 14 Mar ‘22

“The live XRP price today is $0.765860 USD with a 24-hour trading volume of $2,313,211,198 USD. We update our XRP to USD price in real-time. XRP is down 4.14% in the last 24 hours. The current CoinMarketCap ranking is #6, with a live market cap of $36,796,597,252 USD. It has a circulating supply of 48,046,106,688 XRP coins and a max. supply of 100,000,000,000 XRP coins.”—Coin Market Cap.

XRP to USD Conversion Chart All-Time

#5—LUNA

I just wrote about Terra LUNA in my article, Why Does LUNA Continue to Rise Against USDT. Check out this link for info on LUNA and why it’s a good investment.

LUNA Data Current as of 14 Mar ‘22

“The live Terra price today is $91.71 USD with a 24-hour trading volume of $2,926,260,892 USD. We update our LUNA to USD price in real-time. Terra is up 5.09% in the last 24 hours. The current CoinMarketCap ranking is #7, with a live market cap of $34,193,657,142 USD. It has a circulating supply of 372,834,416 LUNA coins and the max. supply is not available.”—Coin Market Cap.

LUNA to USD Conversion Chart All-Time

#6—ADA

Within my article, 3 Undervalued Cryptocurrencies to Buy Now, I discussed Cardano (ADA) and its founder, Charles Hoskinson, in-depth.

“Cardano is one of several promising blockchains known as “Ethereum killers” because of their speed and scalability.” — The Motley Fool, 4 MAR ‘22.

ADA Data Current as of 14 Mar ‘22

“The live Cardano price today is $0.807902 USD with a 24-hour trading volume of $1,043,444,865 USD. We update our ADA to USD price in real-time. Cardano is up 1.80% in the last 24 hours. The current CoinMarketCap ranking is #8, with a live market cap of $27,216,086,311 USD. It has a circulating supply of 33,687,348,167 ADA coins and a max. supply of 45,000,000,000 ADA coins.”—Coin Market Cap.

ADA to USD Conversion Chart All-Time

#7—SOL

“Solana can process many more transactions per second and charges much lower transaction fees than rival blockchains like Ethereum. Solana is a proof-of-stake (PoS) blockchain and also uses a new technology called proof-of-history (PoH).”—Investopedia.

SOL uses this creative hybrid consensus to increase scalability and extremely short processing times to attract institutional and small-time traders alike. The hope is to make decentralized finance (Defi) more available to everyone.

One of the senior executives at Solana is Anatoly Yakovenko, who came from an engineering background at Qualcomm and Dropbox. Together with one of his colleagues at Qualcomm, Greg Fitzgerald, they created Solana Labs.

SOL Data Current as of 14 Mar ‘22

“The live Solana price today is $81.12 USD with a 24-hour trading volume of $1,576,898,487 USD. We update our SOL to USD price in real-time. Solana is down 0.59% in the last 24 hours. The current CoinMarketCap ranking is #9, with a live market cap of $26,209,940,399 USD. It has a circulating supply of 323,087,522 SOL coins and the max. supply is not available.”—Coin Market Cap.

SOL to USD Conversion Chart All-Time

Final Thoughts on These Seven Cryptocurrencies

One valid reason to make a cryptocurrency investment in one of the above seven is your desire for a hedge or store against inflation. Plus, many cryptocurrencies are volatile enough to buy and hold for future growth.

Using the DCA investment method, you can buy a specific amount each pay period while the market goes up and down. Storing your fiat currency in a decentralized digital currency that is not prone to inflation.

However, be wise about the crypto you invest in because some are created as scams to lure you in and never let you make a withdrawal. That’s one reason choosing one of these seven could provide a reliable investment.

Despite that, there’s no guarantee that these or any investment will increase in value. However, with some altcoins, you have the option to stake them and receive interest throughout the staking period. Staking is not available on all coins, so be sure to check which ones are before you buy if that is your goal.

DISCLAIMER: This article is for entertainment and informational purposes only. It should not be considered financial or legal advice. Not all information will be accurate. I am not a financial adviser, and you should consider anything I write as informational and friendly banter to show you what is possible if you invest your money in these vehicles. However, there are no guarantees. Consult a financial professional before making any significant financial decisions.

Stephen Dalton is a retired US Army First Sergeant with a degree in journalism from the University of Maryland and a Certified US English Chicago Manual of Style Editor. Also, a Top Writer in Nutrition, Travel, Fiction, Transportation, VR, NFL, Design, Creativity, and Short Story.

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