Best Crypto: The 3 Best Cryptocurrencies To Buy [January 2022]

The scoop on the best best crypto to buy right now.

What’s the best crypto to buy right now? Or maybe the next best cryptocurrency to buy for the future? Or just lost in a world of money pirates, hype trains and weirdly profitable dogs? Allow us to cut through the bullshit and bring you the latest the best crypto to buy right now .

First though: context. 2020 and 2021 will be remembered as the years that slapped us Australians silly. Millions unemployed, recessions, constant changing of inflation rates and, for those who wanted to add a four-legged furry companion to their family, the prices for designer dogs (and some meme coins) have hit drastic new heights, all while a new virus gallivants the globe.

Related stories on DMARGE

As stimulus cheques and boredom set in though, much of the world started investing in 2020. This has continued into 2021 (and looks set to continue in 2022). But while you could go down the traditional route of stock market trading, many Australians are now also taking a chance on the risky (but oh so fun) world of cryptocurrencies.

Australia has the third-highest rate of crypto adoption in the world, in fact, studies have shown.

The word alone could be enough to confuse you, but in reality, cryptocurrency, and the way it is traded, is similar to that of stocks. You look for trends and you aim to buy low and sell high. However, you can in some instances trade any crypto assets you have bought for others.

Henrik Andersson co-founder and CIO of Apollo Capital, Australia’s leading crypto asset investment firm, tells DMARGE that prices of crypto assets are independent to those of the stock market due to their being a different set of investors.

To some degree, the best cryptocurrencies, like Bitcoin, are being seen as a hedge against the stock market, or a form of portfolio diversification. Not everyone thinks this way though. Wall Street diverges in its views on the likes of Bitcoin and Ethereum. Some big wig investors and portfolio managers are putting money behind them; others still sneer at all and every cryptocurrency, highlighting their lack of tangible value. That being said positive noise is now happening, with the FED in October considering a Bitcoin ETF which could be huge for traditional investors looking to gain exposure to the crypto sector.

Crypto has hit some important milestones in Australia this year too.

Then there is the world of ‘shit coins’ and ‘altcoins’ where you are essentially throwing money down the drain, unless of course you hit the jackpot and manage to get in early on the next Dogecoin…

Then you have the latest trend of ‘alt coins’ claiming every sale adds to the liquidity pool (incentivising people to ‘hodl’) and that your involvement will surely take you to the moon – if everyone just works together…

Though it’s ultra risky and there are scammers everywhere, there does seem to be some positive looking communities out there. But it only takes one rotten developer or one person holding too much to spoil everything (not to mention everyone is, ultimately, out for themselves).

RELATED: I Bought $1,000 Worth Of Cryptocurrency. It Taught Me A Painful Lesson

To put it mildly: it’s a rough world out there when looking for the best crypto to buy right now.

To cut a long story short, here DMARGE brings you our best crypto investment picks, each month, to help you while away those hours late at night while you nervously cradle your phone. These are the coins that are trending each month, from legitimate looking sustainable alternatives to Bitcoin, to completely silly meme coins that could make you a quick buck (or go to zero faster than you can say “wen lambo”).

Disclaimer: this is not financial advice. Never invest more than you can afford to lose. The cryptocurrencies mentioned below may not necessarily be ones we recommend you buy right now, but are the ones seeing traction or being talked about in the news. Before you invest in any cryptocurrency, you should make sure you are in a financially solid position.

January 2022

Bitcoin (BTC)

Price at the time of writing: $42,737 ($58,751 AUD)

Market cap: $808,675,641,511 ($1,111,703,887,040 AUD)

Bitcoin is the big mover and shaker, the grand daddy of crypto, and it’s also, at the time of writing, relatively cheap. It hit an all time high in early November 2021 of $69,000 (AUD $94,750). Since then it has sunk as low as $40,664 (AUD $55,839). This low occurred on the 9th of January. Since the 11th of January, however, it has started to wake from its slumber. Today, at the time of writing (on the 14th of January), it is sitting at $42,737 USD in price. Though some experts have warned the bottom could still drop out completely (with there being rumours of a death cross recently, as there always are when the price of Bitcoin drops), others – like Hong Fang, who is the CEO of a cryptocurrency exchange –have said Bitcoin hitting US $100,000 is still reasonable (she made this comment recently to CNBC).

As the world of crypto (or at least, certain aspects of it) gains increasing acceptance by institutions, it’s not outlandish to expect more people to jump on the Bitcoin bandwagon this year, as apps like Commsec start allowing more risk-averse investors to dip their toes in the world of crypto (starting, likely, with the obvious ones like Bitcoin).

Ethereum (ETH)

Price at the time of writing: US $3,269 ($4,493 AUD)

Market cap: US $390,597,355,253 ($536,962,628,540 AUD)

Much like Bitcoin, Ethereum is one of the more solid, established cryptos, and is (relative to last year’s highs), quite cheap right now. If you believe the crypto industry is only going up, and Ethereum can use its substantial size and resources to keep one step of its competitors like Terra, Cardano and Solana, then it is a good one for you to consider.

Terra (LUNA)

Price at the time of writing: US $80 ($109 AUD)

Market cap: $28,534,940,240 ($39,202,527,904 AUD)

Terra aims to make e-commerce payments and financial services more efficient. To do that, the Terra blockchain features various stablecoins — cryptocurrencies tied to the price of fiat currency — each of which is powered by the LUNA token. 

Terra is built on a blockchain technology called the Cosmos Hub, which is powered by a consensus protocol which is designed for speed and interoperability. In theory, Terra (token, LUNA) can scale to 10,000 TPS, and transactions can be finished in six seconds (making Terra more scalable than Ethereum (until Ethereum develops tools to make it go quicker too). Terra isn’t super cheap right now (it hasn’t dropped off as hard from last years highs, like Bitcoin and Ethereum), but it is cheaper than it was in December. In essence: this is a potential competitor to Ethereum which could be worth investigating.

December 2021

The Sandbox (SAND) 

Price at time of writing: $5.02 ($7.05 AUD)

Market cap: $4,601,676,224 ($6464844308.66 AUD)

The Sandbox is an ethereum based blockchain project which lets users play in a virtual world (kind of like Mindcraft), creating and exploring galaxies. They can also save their progress and put it in public galleries (which is part of where the potential for NFTs comes in). Following the Facebook rebrand to Meta, the metaverse space has found some strong momentum. The Sandbox is a virtual Metaverse where players can play, build, own, and monetize their virtual experiences.

Bitcoin (BTC)

Price at time of writing: $48,180.38 ($67688.09 AUD)

Market cap: $907,964,829,428 ($1275589801250.27 AUD)

Bitcoin – the first cryptocurrency and still the king. After hitting a new all time high early November of $68k, we’ve seen things cool off back into the mid to high $50k range (or at least we were before the crash on the weekend, which has driven it lower). With the macro environment still looking very strong in the short to mid-term and a whole lot of institutional money entering the market, many are expecting Bitcoin to break back up above ATH in coming months.

Avalanche (AVAX)

Price at time of writing: $81.64 ($114.70 AUD)

Market cap: $19,851,964,025 ($27889805887.12 AUD)

We’ve seen a lot of strong price action from the Layer 1’s in the recent month or so and AVAX has been one of the leaders. Avalanche is a very fast Smart Contract platform competing with the likes of Ethereum and has been making great progress.

November 2021

Ripple

Price at time of writing: $1.10

Market cap: $110.17 billion

Ripple is a payment platform designed to let money flow freely via XRP over a public ledger. A simple idea – but one hundreds of financial institutions (including the bank of America) are already using. Though some people (like Zhiyuan Sun, writing for The Motley Fool) have called Ripple a “speculative investment at best” due to, among other things, the competition it faces from SWIFT, others reckon it’s undervalued, and its value has been subdued by some old court cases.

In short: Ripple has been holding back lately, but if this bull market period continues, with Ripple trends being positively correlated with BTC movements, it could be due upward motion. 

Chiliz

Price at time of writing: $0.4349 

Market cap: $2,538,920,198.39 

Chiliz claims to be the world’s leading blockchain fintech provider for sports and entertainment. It developed the Socios.com sports fan engagement platform, which is built on Chiliz’ blockchain infrastructure & uses $CHZ as it’s exclusive on-platform currency. Basically: Chiliz is a currency option for blockchain-backed products & services but with a bent towards mainstream consumers. 

In short: Around football and betting – both big markets. Could have long term potential.

Crypto.com Coin

Price at time of writing: $0.2116

Market cap: $5,339,632,325.61

Crypto.com calls itself the world’s fastest-growing crypto app, which allows you to buy crypto at true cost. Crypto.com Coin is the native token of the Crypto.com Chain. The Crypto.com Chain, for its part, was created to build a lattice of crypto projects, and develop companies’ ability to accept crypto as a form of payment. The Crypto.com Chain is intended to make the transaction flows between crypto users and merchants easy, cost-efficient and safe.

In short: the coin of a promising crypto payment system.

October 2021

Cardano

Price at time of writing: $2.18

Market cap: $71,858,489,720

Cardano (ADA) popped up out of nowehere in August to become the third-largest coin after Bitcoin and Ethereum, as investors looked for more climate-friendly options in the wake of Elon Musk’s criticism of Bitcoin on SNL.

Cardano has now come down from its big jump of August and is now a relatively cheap buy right now. Cardano is a blockchain platform and it has its own internal cryptocurrency called ADA (named after Ada Lovelace, a 19th-century British countess known for her work on a theoretical computation engine, who also was the daughter of Lord Byron). Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson. Cardano was launched in 2017.

In short: a blockchain with a flexible network and fast transaction speed, which mean it’s (compared to many other big coins like Bitcoin) highly scalable and sustainable.

Solana

Price at time of writing: $201.82

Market cap: $61,158,544,862

Solana exploded a month or so back, with many jumping on the bandwagon without really knowing what the heck was going on. Many made money and the extent of their knowledge, when their mates asked what the coin was about was: “I dunno mate. Something about NFTS.” So what really is Solana? Solana is one of the top cheap cryptocurrencies (again, relatively) right now, which offers a web-scale blockchain which is fast, secure, and has DApps. Solana can process 50,000 transactions per second as well as 400ms block times. Solana’s blockchain can also support approximately 710,000 transactions per second on a standard gigabit network while 28.4 million transactions per second on 40 gigabit network.

In short: a super fast blockchain. Trendy. Relatively cheap.

Shiba Inu

Price at the time of writing: $0.00002732

Market cap: $13,688,153,610

Shiba Inu hopes to be the next Dogecoin. Shiba Inu also has an interesting origin story. It goes as follows: Russian-Canadian programmer and writer (and co-founder of Ethereum) Vitalik Buterin was, without his permission, gifted 50% of Shiba Inu’s coins by its anonymous founder (who goes by the pseudonym Ryoshi), according to SHIB’s white paper.

Buterin is a respected figure in the crypto space. However, this gave him the power to rug pull at any time. Which he promptly did. Buterin donated a huge number of Shiba Inu (as well as a couple other of his other coins) to help support India’s Covid relief cause.

This caused panic among investors and saw Shiba Inu’s price plummet drastically soon after its inception. It’s price dropped from just over 0.00004 to around $0.00001, and then hovered around the 0.00001 range for months. After a couple of mini price hikes in September, however, Shiba Inu’s value started soaring in October and it now is continuing to (it seems) go gangbusters.

In short: Silly meme coin. The Dogecoin killer. A crypto with a lot of hype. Not super serious but with the way group think is going, potentially lucrative.

September 2021

Tron

Price at time of writing: US$0.098

Market cap: US$7.001 billion

Tron is a decentralized, open-source blockchain-based operating system with smart contract functionality, proof-of-stake principles as its consensus algorithm and a cryptocurrency native to the system, known as Tronix. One of the largest blockchain based operating systems in the world, Tron’s big assets are high throughput, high scalability and high availability.

In short: Tron wants to host a global entertainment system for the cost-effective sharing of digital content. I.e. cutting out the middle man.

XRP

Current price: $1.11

Market cap: $53.24 

Even though Elon Musk and Mark Cuban like to pontificate over Dogecoin, which started as a joke, becoming the transactional currency of the future, Ripple was actually built to be that. XRP (Ripple) has a reputation for being the best digital asset for global payments (a bloody big claim). It is supposed to offer financial institutions the fastest and most reliable way of getting ‘wet money’ (liquidity) on demand.

In short: a renowned digital asset for global payments.

Watch Elon Musk & Mark Cuban discuss the future of cryptocurrency in the video below.

Price at time of writing: $29.17

Market cap: $13,372,700,659

Chainlink is a decentralized blockchain oracle network built on Ethereum. Chainlink’s network is designed to be used to enable the transfer of tamper-proof data from off-chain sources to on-chain smart contracts. In other words: it helps overcome one of the limitations of blockchain – systems which are inherently shut off from the rest of the world. Chainlink acts as a bridge between blockchain systems and what is happening in the outside world.

In short: Important in the world of cryptocurrency. Like a bridge.

August 2021

Monero

Price at time of writing: $236.38

Market cap: $4,913,697,852

Monero (XMR) was created in 2014 with the goal of being anonymous and private. Monero was devised in 2013 and launched in 2014 by a cryptographer about which very little is known, who goes by the psuedonym Nicolas van Saberhagen. His identity remains unknown.

Where as Bitcoin is on an open ledger, Monero wallet balances and payments remain concealed. These features mean those seeking private transactions and cryptocurrency speculators have been drawn to it like moths to a flame.

In short: A cryptocurrency that (is supposed to) offer complete privacy for all transactions.

Nano

Price at time of writing: $4.339

Market cap: $724,566,803

Creator of Dogecoin Shibetoshi Nakamoto once said on Twitter he liked Nano’s community. Fee less, eco friendly and instant, Nano aims to be an easy-breezy transaction tool. A currency, basically.

In short: Digital money for the modern world.

Internet Computer

Price at time of writing: $45.78

Market cap: $7,966,411,436

Internet Computer, developed by the Dfinity Foundation, a nonprofit in Zurich, Switzerland, sees itself as a competitor to Giant cryptocurrencies like Ethereum and Bitcoin. Internet Computer debuted at a price of $731 then dropped to $146 within minutes. It then rebounded a little but hasn’t seen any huge spikes yet. In fact it has continued to languish.

In short: Cheap.

So there you have it, a selection of some of the best crypto to buy now. Enjoy.

RISK STATEMENT– The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.

If so, subscribe to our daily newsletter to receive our top tending stories.