Best DeFi cryptos to buy for the long term
November has been a terrible month for the cryptocurrency industry. Most crypto prices have collapsed by more than 20% while the total market cap of all digital coins has crashed from over $1 trillion in October to about $830 billion.
Digital coins have crashed because of the fallout of FTX, the second-biggest cryptocurrency exchange in the world. Therefore, there are fears of contagion in the sector. Still, some analysts believe that DeFi networks will benefit from the collapse of FTX and other centralized companies like Voyager Digital and BlockFi. So, here are the best DeFi cryptos to buy for the long term.
Uniswap
Uniswap is a leading DeFi ecosystem built on Ethereum, Polygon, Avalanche, and Celo. It is a leading decentralized exchange (DEX) that makes it possible for people to buy and sell cryptocurrencies.
Uniswap handles more than $1 billion worth of transactions on a daily basis. Indeed, its Ethereum volume has moved above that of Coinbase.
Analysts believe that Uniswap is a good investment because of its leading market share in the DEX industry. Its ecosystem is also growing rapidly while the amount of fees it generates is the third biggest in the industry after Ethereum and Lido.
Its fees in the past 24 hours were $1.43 million, compared to Ethereum’s $3.1 million. Further, its reputation makes it one of the best DEX in the industry.
How to buy Uniswap
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in.
It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest.
eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
Buy UNI with eToro today
Capital.com
Capital.com is a global broker which offers over 200 cryptocurrencies for its users.
It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets.
On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.
Buy UNI with Capital.com today
Lido
Lido is one of the biggest DeFi platforms in the liquid staking industry. It has a total value locked (TVL) of more than $33 billion, making it the third-biggest players in the DeFi industry. It has over $5.7 billion in staked assets and has paid over $212 million in fees.
Most of these assets are in Ethereum’s network, which has over $5 billion. It is followed by Polygon, Solana, and Polkadot. LIDO prices will likely do well in the long term. Lido generated fees of over $1.7 million.
How to buy Lido
As LDO is such a new asset, it’s yet to be listed on major exchanges. You can still purchase LDO using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy LDO right now, follow these steps:
1. Buy ETH on a regulated exchange or broker, like eToro ›
We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.
2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask
You’ll need to create your wallet, grab your address, and send your coins there.
3. Connect your wallet to the 1Inch DEX
Head to 1Inch, and ‘connect’ your wallet to it.
4. You can now swap your ETH for LDO
Now that you’re connected, you’ll be able to swap for 100s of coins including LDO.
PancakeSwap
PancakeSwap is the third-biggest DEX in the world after Uniswap and dYdX in terms of volume. It is a DEX that makes it possible for people to buy and sell digital currencies. It has features that enable people to trade non-fungible tokens (NFT) and participate in decentralized lotteries. Like FTX, PancakeSwap provides traders with a platform to trade perpetual futures.
PancakeSwap has a TVL of over $3.8 billion and it handles over $600 million in transactions on a daily basis. CAKE will likely thrive in the coming months as more investors and users shift to DEXes.
How to buy PancakeSwap
Capital.com
Capital.com is a global broker which offers over 200 cryptocurrencies for its users.
It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets.
On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.
Buy CAKE with Capital.com today
Skilling
Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices.
It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform.
Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.
Buy CAKE with Skilling today
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