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The crypto market has had a tough start to the year. Also with the Russian-Ukraine war crises, cryptocurrencies are traded in the red. However, much of the interest in these unregulated currencies is to trade for profit, with speculators at times driving prices skyward. Cryptocurrencies have turned out to be the primary choice of asset investment for young investors. From business giants to startups, there are many use cases where cryptocurrencies are being widely used. The chosen cryptos for long-term investment are generally the ones with high investment rates, high trading volumes, and liquidity. In this article, we have listed the top 10 best cryptocurrencies to buy and hold this March.
Like most other cryptocurrencies, Bitcoin runs on blockchain technology. Since additions to the distributed ledger must be verified by solving a cryptographic puzzle, BTC uses a process called proof-of-work to keep the transactions safe and secure from fraudsters. Bitcoin's price skyrocketed back in 2021. But the success was short-lived and BTC fell off the wagon. But gradually crypto is gaining its stature back and might prove to be the best cryptocurrencies to buy and hold in March 2022.
XRP is the currency that runs on a digital payment platform called RippleNet. The token was created by Ripple to be a speedy, less costly, and more scalable alternative to both other digital assets and existing monetary payment platforms like SWIFT. The XRP ledger can process transactions roughly within 3-5 seconds, and it is also among the most affordable cryptocurrencies in the market.
Ethereum is the second-largest cryptocurrency after Bitcoin in terms of market cap. Technologically, this cryptocurrency offers a wide range of applications, and one could define its main function as exchange automation. Ethereum smart contracts reduce bureaucratic hurdles and enable two parties to make a deal without intermediaries, and that too with low transaction fees.
Binance Coin is the form of cryptocurrency that investors can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world. Since its inception, BNB has been facilitating trades on its exchange platform. It also enables transactions and exchanges for major cryptocurrencies like Bitcoin and Ethereum. The BNB has constantly maintained its position among the top 10 cryptocurrencies to buy and hold in March 2022.
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. Its counterweight, LUNA, backs the Terra platform and is used to mint more Terra stablecoins. As adoption of the Terra platforms is expected to boom, the value of the LUNA is also expected to rise.
Launched in 2017, Cardano is a public blockchain platform that facilitates peer-to-peer transactions through its internal cryptocurrency ADA. The platform allows users to program decentralized applications. The ADA network hosts several dApps, which are peer-to-peer software projects programmed on its blockchain. It also enables users to validate transactions seamlessly.
Solana, no doubt, is one of the best-performing cryptocurrencies this year and has become a hot topic among crypto investors. It has grown more than 15,000 percent on a year-to-date basis. It is one of the best cryptocurrencies that will make an impact in 2022. Any asset that expands from less than US$1 billion in market capitalization to more than US$70 billion in a few months, should certainly be one to keep your eyes on.
Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum's rivals, aiming to unseat Ethereum as the most popular blockchain for smart contracts. It aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability.
Polkadot is one of the most popular cryptocurrencies on the crypto market. The low fees and higher speeds than the Polkadot network offer, when compared to other cryptocurrencies, make it a number one choice for crypto investors. Polkadot is perhaps the best of the rest when it comes to scalability. It is one of the best that is worth buying in March 2022.
The self-proclaimed "Dogecoin Killer" posted incredible gains in 2021 – a 43 million percent price increase from January to December. It sat at a price of US$0.000000000077 at the start of the year. Not many crypto investors were interested in the coin then. Shiba has lots of future potentials and it is one of the best cryptocurrencies to buy and hold this March.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
