What are the BEST Cryptos to buy? If you've been asking this question you are not alone. With over 12,000 cryptos available for purchase many are left scratching their head wondering exactly which ones could emerge as the eventual leaders in the space.
As part of our on going series of the Top Crypto Currencies to trade, here we are presenting a category we refer to as BLUE CHIP CRYPTOS.
Disclaimer: these crypto picks are not a recommendation to buy and are in no way guaranteed to increase in value. We have made this selection as "good candidates" that generally fit our criteria for the type of trades we like using our trading system. Like all investments, crypto trading carries risk and individuals need to assess their own financial situation before investing in any specific trades.
Trade Maestro Top Cryptos to Trade
Much like stocks, there are a handful of cryptos that we consider "blue-chip". These are the most heavily traded, most widely held, and currently show the greatest likelihood of being around for a long time. If you're thinking long-term "buy and hold" the following are a list of cryptocurrencies in which you may want to invest.
1. BTC - Bitcoin
Of course when we think of "blue chip cryptos" the first one to come to anyones mind is Bitcoin. The first crypto created is also the one with the largest user base, highest market cap, and so far has remained the reigning king of crypto.
Hailed as "digital gold" Bitcoin is not only special because of its place in crypto history, but also because of its simple yet useful design and implementation. With only 21 Million to ever be minted, and a relative few of those tokens remaining to be mined, BTC seems to have secured its place for now as the most scarce, most highly demanded digital asset in which to store long term wealth.
With CEOs like Michael Saylor dumping billions of company treasury into BTC, and nations like El Salvador adopting its use as part of the national treasury, for the foreseeable future we have to assume BTC will continue to lead the pack in the crypto field.
2. ADA- Cardano
How can we describe Cardano in laymans terms...? It's basically a major alternative to Ethereum. Yea - That's probably the best way to describe it.
In fact Cardano was created by one of the co-founders of Ethereum when they had a bit of a disagreement. It makes sense the two projects would look very similar. However, unlike Ethereum, Cardano uses a proof of stake protocol as opposed to a proof of work protocol, which allows it to operate faster and more efficiently.
Many expect 2022 to be a breakout year for ADA. While many would probably stick ADA in the "emerging cryptos" category, we have put it in the Blue Chip category because of the traction it is gaining, utilitarian function, and the current likelihood of long term adoption.
A fun point - ADA is currently cheap. As of this writing ADA is trading for a little more than $1.00. While we can't prove the future of ADA if by chance it were to perform similarly to ETH, this may be one of the most lucrative projects available to buy!
3. ETH - Ethereum
While BTC is referred to as "digital gold", ETH is often referred to as "digital silver". Why? Because like silver, ETH has a very functional use case that has led to a wide adoption and implementation of its technology.
Ethereum is at the center of smart contracts and decentralized finance. Currently more than 3000 projects run on the ETH blockchain. In fact many of the "currencies" we talk about trading, are actually just built on ETH.
In other words - it's here to stay and our best guess is it's here for a long while!
Recently ETH has been heavily criticized because of the unreasonably high "gas tax" required to process the transactions. However with the soon to be released ETH 2.0 the general consensus is those fees will be a thing of the past, reworked, and ready to conquer the future.
4. XRP - XRP/Ripple
The very nature of crypto leads most tokens to build a bit of a cult-like following. Perhaps none have as strong of a cult following as XRP.
XRP is the token that moves the money on the ripple network. Ripple has built the infrastructure that many people believe will replace the current SWIFT system that facilitates the movement of money around the world.
If that sounds foreign to you let's put it this way... they want to control all of the money... (okay that might be a bit far stretched...but not too far)
The reality is XRP is the only project positioned to pull off such a task and it has already been proven to be reliable and fast - super fast. With the XRP protocol money that would have taken hours or days to move can be moved in seconds.
The fact XRP has such a solid use case has led many to believe the SEC is targeting XRP because they do not want them to succeed. It does appear that may be the case. Regardless, the future for XRP is stunning. The following is solid. And XRP is definitely worthy of being on anyone's list of "Blue Chip Cryptos".
5. SOL - Solana
Solana is another cryptocurrency project designed to compete with Ethereum. Like Ethereum, Solana is both a cryptocurrency and a flexible platform for running crypto apps — everything from NFT projects like Degenerate Apes to the Serum decentralized exchange (or DEX). However, it can process transactions much faster than Ethereum — around 50,000 transactions per second.
More than 350 projects have already adopted the Solana blockchain and its unique Proof of History consensus model. The future is extremely bright for this project and along with several others, it is positioned well to possibly overtake ETH one day.
At the beginning of 2021 SOL was trading for a mere $2.00, and by November of 2021 it peaked at $260.00, representing a measly 12,900% gain in less than one year. While it has corrected strongly since that run the outlook for SOL is strong and we believe it could be a Blue Chip Crypto here to stay!
The Crypto markets continue to expand and evolve. While this list is a current list of favorites that we do believe will be around for a while and can serve that role of "blue chip cryptos", if there's one thing we can all agree on for this day in age it's this - markets change, they change fast, and they don't care what we think!
As these changes occur we will update this list and this article, until then be sure to add these five to your watch list, and as always...