Cryptocurrency

Best 5 Cryptocurrencies to Buy in August 2022

Memora.ID – Cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers.

The advantages of cryptocurrencies include cheaper and faster money transfers and decentralized systems that do not collapse at a single point of failure. Memora.ID has summarized some of the Cryptocurrencies that you should buy this August!

Dogecoin (DOGE)

doge

DOGE’s value has increased by more than 350% over the last five years starting with the crypto market spike in early 2021. As a result, we only include it as one of the best cryptocurrencies to purchase right now due to its low price and the market’s recovery indications.

Bitcoin (BTC)

Bitcoin has become a popular digital asset, with its value increasing by more than 297% in the last five years. Coins like Bitcoin and Litecoin have become household names, investor interest in the currency has increased, and trading volume has increased significantly. Due to the limited supply of BTC, all of these factors are projected to keep pushing up the price.

Ethereum (ETH)

Ethereum ETH

Ethereum has quickly become the most widely utilized blockchain. For example, it rose from $0.30 in 2015 to about $4890 by the end of 2021, surging 16300 times.

As a long-term investment, we consider it one of the finest cryptos since we believe it will rise in value by as much as 10,000% by 2030 and reach $100,000. And we believe that these advances may be attributed to three main variables.

The second reason is that we anticipate more new cryptocurrencies to be launched here and more companies to be built on the platform, thereby maximizing the use cases for ETH tokens.. Last but not least, we’ve accelerated the use of blockchain and cryptocurrency.

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Ripple (XRP)

ripple xrp

In early 2018, XRP’s price reached a record high of almost $3. For years, an SEC litigation against Ripple Labs and its directors has kept XRP coins trading considerably below $1. The government of Vice President Joe Biden has seemed to soften its stance on cryptocurrency in recent months, though, as Ripple has won a few court fights.

Most crypto experts now believe that Ripple has a good chance of winning this lawsuit, which would result in a record-breaking increase in the value of XRPs for all holders.. Because of our belief that Ripple will prevail in this lawsuit, we’ve included XRP as one of the best cryptocurrencies to invest in in August 2022.

Cardano (ADA)

Token prices for Cardano’s ADA tokens are expected to rise as the platform incorporates more developing crypto technology and welcomes more brand collaborations. A lot of experts believe that it has the potential to overtake Ethereum as the most popular smart contract platform, which would result in significant returns for investors.