Cryptocurrencies, as an asset class, are extremely volatile. But large techs and growing companies are accepting cryptocurrencies as payments. Therefore, one cannot deny the fact that the crypto market is one of the most volatile, yet, fast-moving markets. Blockchain is the technology that enables the existence of cryptocurrency (among other things). Bitcoin is the name of the best-known cryptocurrency, the one for which blockchain technology was invented. The fact that the best cryptocurrencies are recovering fast from the bearish trend shows that crypto buyers and sellers can be responsible for the fluctuation in spikes or crashes in cryptocurrencies. This article features the top 10 best cryptocurrencies that crypto investors can buy during Bitcoin recovery.
10 BEST CRYPTOCURRENCIES TO BUY DURING BITCOIN RECOVERY
3. Binance Coin
The second most valuable cryptocurrency in the world, the Ether token is based on the Ethereum blockchain and has become a cornerstone of the cryptocurrency world. Simply put, if today Bitcoin is gold then Ether is silver. Crypto investors have high hopes for Ethereum, which makes it one of the best cryptocurrencies to buy during Bitcoin’s recovery.
Cardano is another best cryptocurrency to buy if you are looking for an alternative to Bitcoin, as this blockchain platform employs a Proof-of-Stake (PoS) algorithm to achieve consensus. This makes it a more scalable network compared to Proof-of-Work (PoW) chains whilst also being greener in the process.
Binance Coin is a version of cryptocurrency where users can trade and pay fees on Binance, one of the world’s largest crypto exchanges. Fees paid on the exchange in Binance Coin receive a discount. Launched in 2017, Binance Coin has moved on from only facilitating trades on the Binance exchange. It can now be used for trading, payment processing, and even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Bitcoin or Ethereum.
Launched in 2009, Avalanche is a smart-contract enabled and programmable platform. It’s designed to enhance eco-friendliness, improve transaction speeds, lower costs, and boost security. Users on Avalanche can construct several customizable blockchains known as ‘subnets’ which they then operate on the Avalanche platform.
Polkadot is referred to as a layer-zero blockchain. It will support 100 parachains on its platform, allowing distinct blockchains to be able to communicate with each other. It’s a proof of stake blockchain which seeks to be a scalable solution for smart contract blockchains. It is one of the best cryptocurrencies to buy during Bitcoin recovery.
Terra is a blockchain payment platform for stablecoins that relies on keeping a balance between two types of cryptocurrencies. Terra-backed stablecoins, such as TerraUSD, are tied to the value of physical currencies. Their counterweight, Luna, powers the Terra platform and is used to mint more Terra stablecoins.
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. Polygon successfully transforms Ethereum into a full-fledged multi-chain system, along with ETH’s security, vibrant ecosystem, and openness. It is one of the best cryptocurrencies that crypto investors can buy during Bitcoin recovery.
Solana is useful in the booming sector of decentralized finance (DeFi) solutions and is attractive amongst developers with 500 DApps built on top of its blockchain. Users of those applications, who use DeFi services and trade NFT tokens need Solana tokens, explaining its six-fold rise in value this year.
XRP is an open-source cryptocurrency that uses an open-source distributed ledger facility called the XRP ledger. It is the native coin of Ripple that facilitates global transactions. The creators of the Ripple coin claim that XRP was built for payments and can settle transactions faster than most other cryptocurrencies securely and efficiently. It is one of the best cryptocurrencies to buy during Bitcoin recovery.
LINK is a blockchain abstraction layer that enables universally connected smart contracts. The crypto allows blockchains to securely interact with external data feeds, events, and payment methods. Chainlink made quite a breakthrough in 2020 and continued to grow in 2021, but the crypto dived hard and is one of the cryptos that are worth buying during Bitcoin recovery.