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3 Cryptocurrencies Trading at an Even Bigger Discount Than Bitcoin

·4 min read
edit Sale sign, value, discount
edit Sale sign, value, discount

Written by Daniel Da Costa at The Motley Fool Canada

There’s no doubt there are some serious bargains in the cryptocurrency industry, with Bitcoin (CRYPTO:BTC) being one of them. However, if you’re looking to take advantage of the recent selloff and buy the dip, there are cryptocurrencies that offer even more growth potential than Bitcoin and trade at an even bigger discount.

With so many cryptocurrencies to choose from, it can be difficult to decide which cryptocurrencies are the best to buy. So, as long as you find projects that you believe users will appreciate and can grow in popularity, then it should be an excellent investment to buy and hold long term.

An excellent example would be a popular play-to-earn video game. If you discover a game that’s fun, has a strong community, and has a model that’s scalable and can earn investors a lot of money playing, then the game should have years of growth potential.

Another example could be a popular decentralized exchange, allowing investors to participate in DeFi. Or perhaps it could be a new blockchain that offers the same level of security and decentralization as existing blockchains but with improved scalability.

So, if you’re looking to take advantage of the discount in Bitcoin and the rest of the cryptocurrency industry, here are three of the best to buy today.

Uniswap

Uniswap (CRYPTO:UNI) is the leading decentralized exchange on Ethereum (CRYPTO:ETH). The DeFi protocol not only allows users to exchange hundreds of cryptocurrencies, but because it acts as an automated market maker, users can also contribute their cryptocurrencies to provide liquidity. These liquidity pools then pay out a percentage of the trading fees back to the users who invested their capital.

This is, in essence, how DeFi works, and as the industry gains popularity, naturally, so does Uniswap. And while Bitcoin is down by about 37.5% from its all-time high, Uniswap is down 65%.

Furthermore, with the potential DeFi has and the fact that Uniswap already has such a dominant position in the Ethereum ecosystem, it could even offer more growth potential than Bitcoin, too.

So, if you’re looking to buy the dip and find high-quality cryptocurrencies to buy today, Uniswap is one of the best to consider.

Decentraland

Decentraland (CRYPTO:MANA), one of the best cryptocurrencies to buy if you want exposure to the metaverse, is another high-quality investment to consider today.

Decentraland is also down considerably more than Bitcoin, with its price trading at about half of its all-time high. This is creating an excellent opportunity for long-term investors, especially if you’re bullish on the potential that Decentraland’s metaverse offers.

Decentraland allows users to create tonnes of unique experiences, challenges, or products in its virtual world. And these products can not only be sold once but can generate royalties for the creators each time it’s additionally sold.

Virtual worlds have been gaining in popularity. But now, with the potential to earn cryptocurrency, they are some of the best projects to invest in.

So, with Decentraland trading at an even bigger discount than Bitcoin today, it’s surely only of the top cryptocurrencies to buy now.

Tezos: A blockchain competitor to Bitcoin

The last high-potential cryptocurrency trading even cheaper than Bitcoin is Tezos (CRYPTO:XTZ), a smart contract compatible blockchain that’s been designed to upgrade on its own.

This is a crucial development for Tezos, as upgrades to blockchain technology are somewhat common, especially as they scale and run into problems the bigger they get. It also allows the cryptocurrency to avoid hard forks, since consensus for an upgrade can be reached by holders of XTZ voting on it.

Tezos has now partnered with multiple Formula One teams, multiple banks, a ride-sharing company, and a casino, as more organizations recognize its significant potential.

So, if you’re looking for a high-quality cryptocurrency trading at a bigger discount than Bitcoin, Tezos is one of the best to consider.

The post 3 Cryptocurrencies Trading at an Even Bigger Discount Than Bitcoin appeared first on The Motley Fool Canada.

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Fool contributor Daniel Da Costa owns Decentraland and Ethereum. The Motley Fool owns and recommends Bitcoin, Ethereum, and Tezos.

2022

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