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Cryptocurrency
Top 10 Cryptocurrencies to buy in August 2022 Revealed
With the hype around cryptocurrencies in the last few years, you are probably thinking of starting your crypto investing. Beginners having difficulties finding the top cryptocurrency to invest in today, Don’t worry! Most investors have been in this situation, so we understand how confusing it is when looking for new cryptocurrency investments.
This guide will take you through the ten best cryptocurrencies to buy today. By the time you are done reading this guide, you should have a good idea of the top cryptocurrencies that have the most potential to grow in the future.
Virtual currencies are highly volatile. Your capital is at risk.
Best Cryptocurrencies to buy in August 2022
Before we dive into each cryptocurrency, here is a preview of the top 10 cryptocurrencies to invest in right now.
- ApeCoin
- Ethereum
- Bitcoin
- Binance Coin
- Solana
- Dogecoin
- Shiba Inu
- Avalanch
- Cardano
Virtual currencies are highly volatile. Your capital is at risk.
A Closer Look at the Top 10 Cryptocurrencies to Invest in August:
Are you searching for the next big cryptocurrency to invest in August 2022, but unsure of where to start? It is a normal feeling given that there are many developments in the market, and they are happening at lightning speed. For instance, there is a lot of hype around platform blockchains, meme coins, and many other cryptos.
As such, you might wonder, should I invest in a platform blockchain like Ethereum, or should I bet on the best meme coins with the potential to 2x or 3x in the year?
While the many developments in the market can leave you confused, the best part is that you have options. However, it would help if you were careful because though you have options, many cryptocurrencies may not add much value to your investment portfolio.
That's why we have listed the highest quality crypto assets in our list of top cryptocurrencies to buy right now . Each of the cryptocurrencies in this list has a strong community, technically sound, and has a growing adoption that is likely to play positively into its value.
Without further ado, let's now jump into these top cryptocurrencies to invest in today that hold the most potential for future returns. By the end of this reading, you should have a clearer idea of the best cryptocurrencies to invest in right now.
1. ApeCoin (APE)
ApeCoin is currently the best crypto to buy and invest in August 2022.
If you have been following cryptocurrencies for most of 2022, you know that ApeCoin has been attracting a lot of hype this year. It is linked to the world-famous Bored Ape Yacht Club NFTs.
When ApeCoin first hit the market, it rallied by thousands of percentages before a correction followed. However, there is still a lot going on with ApeCoin that makes it one of the best altcoins to buy now
One of the big developments around ApeCoin is the launch of the Other Side Metaverse. The big deal about the Otherside Metaverse is that lands are being sold in APE tokens. This means there is intrinsic value to ApeCoin and as adoption of the Metaverse grows, so will the value of ApeCoin.
Besides, for its association with the Bored-Ape NFTs, ApeCoin has emerged as the biggest Metaverse cryptocurrency today. This means ApeCoin has the leverage to dominate the fast-growing Web 3.0, primarily NFT gaming.
Many ApeCoin price predictions expect that APE could double in 2022. This makes it one of the best cryptocurrencies to buy now.
Virtual currencies are highly volatile. Your capital is at risk.
2. Ethereum (ETH)
Another top cryptocurrency to invest and buy in August 2022 is Ethereum. It is the second-largest cryptocurrency by market capitalization. You can't miss among the best cryptocurrencies to invest in 2022.
One thing that makes Ethereum rise to the top among the cryptocurrencies to buy right now is its strong ecosystem of Dapps. Since it launched as the first Dapps blockchain back in 2015, it has dominated the market.
Today, most Dapps, be it DeFi, NFTs, or otherwise, run on the Ethereum blockchain. As more of these cryptocurrencies come up, the value of ETH, the utility token in the Ethereum ecosystem, will only go up.
Besides, the Ethereum developer team has been working hard to deal with the scalability issues that have plagued this blockchain for years. For the last two years, Ethereum has been in the process of a transition to Proof-of-Stake, and it comes with several benefits to Ether, including making ETH deflationary.
For its dominance and improving core metrics, analysts are bullish on Ethereum. Many Ethereum price predictions expect ETH coin to be valued anywhere between $4500 and $5500 in 2022. Given that the popular cryptocurrency is currently trading below $3000 per coin, it is a great option to consider as Ethereum could double in value in 2022. As such, now could be a good time to invest in ETH cryptocurrency.
Virtual currencies are highly volatile. Your capital is at risk.
3. Bitcoin (BTC)
Bitcoin is the de facto choice of the best cryptos to invest in August as a crypto newbie.
However, from a look at Bitcoin's price, you probably wonder, isn't it a little too expensive?
While Bitcoin's price may look nominally high, BTC is one of the most undervalued cryptocurrencies today. To understand why, you just need to look at its tokenomics.
Bitcoin has a capped supply of 21 million coins. Also, millions of BTC have been lost over the years. Now that Bitcoin adoption is on the rise, including getting adopted as a currency by multiple countries, it is inevitable that Bitcoin will only go up due to demand and supply dynamics.
Besides, Bitcoin happens to be one of the safest cryptocurrencies today. That's because it is highly decentralized, meaning no single entity can ever influence Bitcoin. You can take it as a long-term investment, just like you would stock or real estate.
Multiple Bitcoin price predictions expect the leading crypto to trade anywhere between $70k and $80k in 2022. In the long term, 2025 and beyond, analysts expect Bitcoin to trade at over $250,000. Given that it is currently trading below $40,000, Bitcoin is pretty much a no-brainer cryptocurrency to buy today.
Virtual currencies are highly volatile. Your capital is at risk.
4. Binance Coin (BNB)
Binance Coin is another common-sense cryptocurrency to buy in August and hold for the long term. That's because it is the cryptocurrency used for paying fees on the world's largest cryptocurrency exchange by volume.
Binance users are incentivized to use BNB because Binance offers a discount to anyone who chooses to use BNB to pay fees. Since Binance has a large ecosystem that includes the Binance Smart Chain, it then follows that Binance Coin is one of the cryptocurrencies with the highest utility in the market today.
Besides its utility, BNB's tokenomics also make it a top cryptocurrency to invest in 2022. Every quarter, Binance burns millions of BNB, and this is expected to go on for most of this decade. This token burn has played the biggest role in Binance Coin's rise from trading at pennies in 2017 to a high of $667 in 2021.
Due to the supply shock that this token burn causes, most BNB price predictions expect this cryptocurrency to trade at over $1000 in 2022. They also expect BNB to hit much higher prices in the years ahead.
Virtual currencies are highly volatile. Your capital is at risk.
5. Solana (SOL)
Solana was the top cryptocurrency performer of 2021 and rallied by over 10,000%. While it started in 2022 bearish, SOL is one of the top altcoins that could perform well in this year and beyond.
Solana is the best cryptocurrency to buy and invest in today for its core functionality and growing adoption. To grasp how big of a deal Solana is, consider the fact that it is one of the most scalable platform blockchains in the market today. Solana can handle up to 50k transactions per second at transaction costs of under $0.01.
These metrics have seen adoption grow, and today, Solana has one of the fastest-growing ecosystems of DeFi and NFT projects. Since SOL is the native token of the Solana ecosystem, it then follows that as the adoption of the Solana blockchain grows, so does the intrinsic value of SOL tokens.
Analysts are also pretty bullish on Solana in 2022 and beyond. Many Solana price predictions expect the value of SOL to go up by over 450% in 2022. If these predictions are anything to go by, Solana is one of the most potential altcoins to consider today.
Virtual currencies are highly volatile. Your capital is at risk.
6. Dogecoin (DOGE)
Dogecoin easily stands out as one of the most undervalued altcoins to buy in August. That's because its community and levels of adoption have been going up. All this, while its price hasn't reacted much. It is one of the top meme coins that did not retest its all-time highs in the November 2021 cryptocurrency rally.
However, there are some strong indicators that Dogecoin could emerge as one of the hottest meme coins to buy in 2022. To understand why you just need to look back at why Dogecoin did so well in 2020 and early 2021.
From 2020 to mid-2021, Dogecoin went up by 12,000%. This followed a series of tweets by Elon Musk that were aimed at pumping DOGE. This year, Elon Musk has bought Twitter and is now running it as a private company. This means he has more liberty on what he can say, including pumping Doge.
Even before the Twitter deal was completed, signals of such a possibility were already there. At the time, Musk suggested that Twitter should incorporate DOGE as a payment. If Musk follows through and includes Dogecoin as a payment method on Twitter, the hype it could generate would easily see Dogecoin emerge as one of the top-performing cryptocurrencies in 2022. It is not surprising that the majority of Dogecoin price predictions are bullish.
Virtual currencies are highly volatile. Your capital is at risk.
7. Shiba Inu (SHIB)
Shiba Inu was one of the hottest meme coins in 2021 after it rallied by over 48,000,000%. While it has since cooled down, it still holds a lot of potential as a top meme coin that could explode further in 2022 and beyond.
Last few years, Shiba Inu thrived mainly on the hype around meme coins triggered by Dogecoin. However, it has since developed a character of its own, and its intrinsic value is on the rise. For example, last year, the team introduced ShibaSwap, a DEX for trading Shiba Inu and other cryptocurrencies.
However, the biggest move that the Shiba Inu team has made this year is to introduce the Shiba Inu Metaverse. Given how much hype there is around the Metaverse, there is no doubt that Shiba Inu could be among the top cryptocurrencies that do well this year.
Analysts are also pretty bullish on Shiba Inu, and most Shiba Inu price predictions expect SHIB to double by the end of 2022.
Virtual currencies are highly volatile. Your capital is at risk.
8. Cardano (ADA)
Cardano is a large-cap cryptocurrency that also makes it to the list of top cryptocurrencies to buy in August. Cardano is a platform blockchain and, like Solana, Avalanche, and the rest, is one of the biggest Ethereum competitors in the market today.
Cardano stands out from the competition for its security features. This is all thanks to its Ouroboros Proof-of-Stake algorithm that is peer-reviewed and proven to be secure, scalable, and decentralized.
While Cardano remains a work-in-progress, one factor that makes it a hot cryptocurrency to buy today is the recent introduction of smart contracts. Cardano smart contracts were introduced in October 2021, and since then, there has been a healthy growth in Dapps within the Cardano ecosystem.
Thanks to its scalability, and low costs relative to Ethereum, many analysts expect Cardano to grow in adoption in 2022. Cardano's token ADA is also expected to grow since it acts as a utility token within the Cardano ecosystem. While no one can accurately predict the future, most ADA price predictions expect it to be one of the top altcoins that could do well in 2022.
Virtual currencies are highly volatile. Your capital is at risk.
9. Avalanche (AVAX)
The final project from our list of the top cryptocurrencies to invest in August 2022 is Avalanche.
Avalanche is a smart contracts platform that has gained traction as a launchpad for various Dapps ranging from Dapps to NFTs.
Avalanche shot to popularity in 2020 as a top Ethereum competitor and has gained significant traction in the market. This has to do with Avalanche's key metrics, such as scalability and low costs. Avalanche is known for handling up to 4500 transactions per second and at pretty low costs.
Also, unlike some of its competitors that have suffered network lags, Avalanche is known for its network stability. These strengths make Avalanche a high potential that could grow in adoption and value going into the future.
So far, Avalanche has shown positive responsiveness in price as adoption grows. Back in 2020, Avalanche made an all-time low of $2.79. By November 2021, Avalanche had shot up to an all-time high of $146.22. Most Avalanche price predictions expect AVAX to remain a top-performing altcoin for years to come.
Virtual currencies are highly volatile. Your capital is at risk.
What is the best cryptocurrency to buy in August?
While cryptocurrencies have a lot of potential for growth in 2022, you need to invest with caution. That's because there are trends shaping up in the market, and if you are not in tune with them, you could lose money.
For instance, the way the market is shaping up, growth is likely to come from certain market segments such as DeFi and the Metaverse. However, growth is mainly aggregating towards a few large players in these markets. As such, it is best to invest in cryptocurrencies that could dominate the market, such as Ethereum and Terra.
If you are unsure where to buy these top cryptocurrencies, all of them are listed by top cryptocurrency exchanges. However, if you want to explore the market a little more and buy new cryptocurrencies, you may consider investing through Decentralized Exchanges such as Pancake and Uniswap.
As a new investor, you may want to stick to large-cap cryptocurrencies that have an established presence in the market.
The best place to invest in the top cryptocurrencies in August is eToro. The exchange is fully regulated, which means your capital is safe. The platform also has low fees relative to most cryptocurrency exchanges.
Deposit $10 and get started today. Don't forget that cryptocurrencies are risky investments, and you should never invest more than you can afford to lose.
Virtual currencies are highly volatile. Your capital is at risk.
Conclusion
This guide on top cryptos to invest in August has explained the fundamentals of each coin on the list – in terms of the future potential and risks to consider. If you have read through this cryptocurrency trading guide up to this point, then you have a good idea of the best cryptocurrencies to buy and invest in today.
Out of these 9 top cryptos to buy in August 2022, we believe Ethereum (ETH), and ApeCoin (APE) are the best crypto assets to invest in today in terms of potential returns.
Virtual currencies are highly volatile. Your capital is at risk.
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