While popular cryptocurrencies like Bitcoin and Ethereum have a lot to offer, investors stand to see the biggest gains from relatively new coins that haven’t yet gained mass adoptions. But with hundreds of new cryptocurrencies released every year, it can be hard to figure out which digital currencies are worth your attention.
The Best 5 Cryptocurrencies to Buy Today
Here are the 5 best new cryptocurrency projects you can buy today:
1. Terra (LUNA)
Luna is the native coin of the Terra blockchain, a new project created by Terraform Labs. In less than a year, Terra has gone from launch to earning its spot as the second-largest DeFi (decentralized finance) project behind Ethereum. Terra creates stablecoins pegged to a variety of different fiat currencies, including the US dollar, Euro, Chinese yuan, Japanese yen, British pound, and others.
What makes Terra so interesting is that from users’ perspectives, it operates much like a traditional digital payments system. The platform has been called ‘AliPay on the blockchain’ because it makes paying for goods and services simple, fast, and cheap.
Unlike AliPay and PayPal, though, all transactions coordinated by Terra take place on the blockchain. Terra stablecoins hold their value because mining them requires users to burn Luna. So, market forces keep the price of Terra extremely close to the value of the fiat currencies it represents.
2. Algorand (ALGO)
Algorand is a cryptocurrency created in 2019 with the help of an MIT mathematician. The cryptocurrency has a lot of similarities to Bitcoin, but it uses a new validation mechanism known as pure-proof-of-stake.
The advantage of pure-proof-of-stake is that it’s faster and more difficult to spoof than the proof-of-stake algorithm used by Bitcoin. So, transactions can happen quickly, cheaply, and safely.
Algorand also incorporates smart contracts and is in the process of developing its own network of DeFi applications. Algorand still hasn’t seen widespread adoption among crypto enthusiasts, but that could change given that it processes transactions more than 100 times faster than Bitcoin.
3. Curve (CRV)
Curve is a decentralized cryptocurrency exchange that’s optimized for keeping transaction fees low when swapping between digital currencies pegged to the same value. It only deals in stablecoins, such as Tether, USD Coin, DAI, and others.
Curve is attractive because it offers arbitrage opportunities for trading stablecoins as well as high liquidity for stablecoins. It also offers incentives for users to lock in their tokens for up to 4 years at a time – far longer than most other exchanges.
The CRV token is the native token of the Curve exchange. It’s mainly used for governance of the Curve exchange, but it’s also the most direct way to invest in this decentralized exchange platform.
4. Decentraland (MANA)
Decentraland is more than just a cryptocurrency. It’s a virtual world built on the Ethereum blockchain where players can create their own virtual communities. The game also acts as a marketplace since players can buy and sell plots of land in the Decentraland 3D world. Plots of land are essentially NFTs, and landowners can join together to form development districts based on their common interests.
Within Decentraland, the MANA cryptocurrency is the digital currency used to buy land NFTs and other virtual goods and services. As the popularity of Decentraland has grown, so too has demand for MANA.
With interest in the metaverse rising – Facebook recently changed its name to Meta and Microsoft has invested heavily in metaverse development – the future looks bright for Decentraland. That bodes well for MANA.
5. Fantom (FTM)
Fantom is one of several new blockchain platforms that developed as an alternative to Ethereum. Like Ethereum, Fantom is capable of executing smart contracts and playing host to a wide variety of decentralized apps. What makes Fantom different from Ethereum is that it’s significantly faster, enabling more transactions per second and reducing the cost of transacting on the Fantom blockchain.
Fantom isn’t the only blockchain looking to supplant Ethereum. Cardano and Solana both offer similar services, although the code underlying these platforms’ blockchains is slightly different.
The Fantom cryptocurrency is used for staking to the Fantom blockchain and validating transactions. It’s also used for governance and can be used for instant payments. Look for Fantom’s value to grow as the Fantom blockchain sees increasing adoption.
Where to Buy New Cryptocurrencies?
The best way to buy new cryptocurrencies is through a cryptocurrency exchange. Top exchanges offer dozens of digital currencies and add new coins quickly as they gain in popularity.
Let’s take a closer look at the best exchanges you can use to buy the top 5 new cryptocurrencies today.
1. eToro – Overall Best Exchange to Buy New Cryptocurrencies
eToro is one of the best cryptocurrency exchanges you can use to buy new cryptocurrencies. This exchange offers trading on nearly 50 different coins, including Algorand and Decentraland. You can create a new account with eToro in minutes and the platform enables you to buy crypto with a credit card, debit card, PayPal, Neteller, or Skrill.
One of the best things about buying new cryptocurrencies with eToro is that it has some of the lowest instant buy fees in the industry. At eToro, you’ll pay 3.9% when you buy Algorand, for example, and nothing when you sell. Other exchanges charge at least as much, plus pile on extra fees for credit card processing.
eToro is easy enough for beginners to use, but the platform also has plenty of tools for crypto traders. You’ll find technical charts and customizable indicators as well as in-depth analysis of up-and-coming cryptocurrencies. eToro also has a built-in social network so you can find out what other traders think about hot new cryptocurrencies.
Pros:
- Trade nearly 50 cryptocurrencies
- Very low instant buy fees
- Accepts PayPal and e-wallets
- Built-in social trading network
Cons:
- Doesn’t offer the most advanced trading tools
2. Coinbase – Spot Trading on 70+ Cryptocurrencies
Coinbase is another top exchange for buying new cryptocurrencies. You’ll find more than 70 digital coins at this exchange, and Coinbase is among the first to add new cryptocurrencies once they break into the mainstream.
What really sets Coinbase apart is its Coinbase Pro trading platform. This spot trading interface is designed with experienced crypto traders in mind and offers everything from customizable technical indicators to price alerts to depth of market charts. The feature set is very extensive, especially if your goal is to actively trade cryptocurrencies for a profit.
Coinbase charges 0.5% per buy and sell transaction regardless of which cryptocurrency you buy. However, fees climb to 3.9% or higher if you want to make a one-off purchase with a credit or debit card. So, we primarily recommend Coinbase for spot trading rather than instant crypto purchases.
Pros:
- 70+ cryptocurrencies to trade
- Advanced crypto trading platform
- Supports alerts and depth of market data
- 0.5% transaction fee for spot trading
Cons:
- Very high fees for instant buy/sell orders
How to Buy New Cryptocurrencies: A Step-by-step Guide
Ready to buy the best new cryptocurrencies in 2022? We’ll show you how you can get started with eToro in just 3 simple steps.
Step 1: Sign Up for eToro
Head to eToro’s website and click ‘Join Now’ to open a new exchange account. Enter your email, a username, and a password, then fill in personal details like your name, address, and birthdate. You may also need to upload a copy of your driver’s license or passport to verify your identity.
Step 2: Deposit Funds
eToro requires new users to deposit at least $50. You can make a deposit by credit card, debit card, bank transfer, PayPal, Neteller, or Skrill.
Step 3: Buy Crypto
Now you’re ready to buy cryptocurrency at eToro. Search for the coin you want to buy and click ‘Trade’ when it appears. Then enter the amount you want to purchase in USD and click ‘Open Trade.’
Buy the Best New Cryptocurrencies Today
We think Terra, Algorand, Curve, Decentraland, and Fantom are the best 5 new cryptocurrency projects in 2022. Each of these cryptocurrencies has a lot of promise both for investors and for users of these platforms.
Ready to invest in these new cryptocurrencies? Get started with eToro today!
FAQs
What’s the best cryptocurrency to buy in 2022?
We don’t have a crystal ball, but we’re excited about 5 new cryptocurrencies in 2022: Terra (LUNA), Algorand (ALGO), Curve (CRV), Decentraland (MANA), and Fantom (FTM).
What are the top 5 cryptocurrencies in 2022?
The 5 biggest cryptocurrencies by market cap in 2022 are Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BNB (BNB), and USD Coin (USDC).
Should I buy new cryptocurrencies?
New cryptocurrencies are very risky investments because it’s hard to know which ones will take off, and which will flop. If you invest in new cryptocurrencies, it’s a good idea to start small and invest in several different crypto projects.
Which cryptocurrency will explode in 2022?
It’s difficult to say which cryptocurrency will see the biggest gains in 2022. If we had to guess, we’d point to Terra (LUNA). Crypto enthusiasts and traditional investors alike are excited about Terra stablecoins, which could push up the value of the LUNA cryptocurrency.
