The crypto prices are struggling following the latest news from the US, which revealed that President Donald Trump went through with his threat of tariffs on China, Mexico, and Canada. The order was signed on Saturday, February 1, and while the rest of the financial markets were closed for the weekends, the crypto industry suffered the first blow.
Bitcoin’s price dropped from $105k on Friday to $93k by Monday morning, and while it has since recovered slightly, most other major cryptos have seen similarly severe dips. However, for experienced crypto industry participants, major price drops are nothing new. Anyone who has spent a few years dealing with crypto knows that prices tend to crash often and for many different reasons, and they will always recover after a while.
This time is no different, and instead of panicking and selling, investors should treat this as an opportunity to buy the best coins and tokens at a discount, and HODL. If you are wondering which cryptos to go for, the following three are an excellent starting point.
XRP (XRP)
XRP is a cryptocurrency created by Ripple Labs, and while it has a long and even somewhat controversial history, it always manages to bounce back. XRP survived a lawsuit by the US SEC, and its parent firm, Ripple, even partially won that case. A few weeks ago, XRP even managed to surge so much that it reclaimed the position of the third-largest crypto by market cap from Tether, the world’s largest stablecoin.
Due to the current price dip, USDT is once again back as third, while XRP sits as the fourth-largest crypto, with its market cap being around $3 billion smaller than that of Tether. But, it is very likely that XRP will reclaim the title once the prices start their recovery, and with most cryptos trading in the green on the hourly chart, that could potentially even happen in the next 24 hours.
In any case, XRP has survived all kinds of hardships, but its utility as a crucial part of RippleNet, and the support of its community, have allowed it to bounce back every time, and now, it is impossible to imagine the list of top 10 largest cryptos by market cap without it. With that said, if you are looking for the best coin to buy during a tough market, this is definitely one worthy of consideration.
Dogecoin (DOGE)
Next up is Dogecoin — the original meme coin, launched all the way back in 2013. Almost as old as XRP itself, Dogecoin was initially created as a joke crypto, and was only expected to last for a few weeks. It has been 12 years since then, and it dominates the meme coin sector as the largest crypto of its kind, and it even sits as the 8th-largest cryptocurrency by market cap.
Dogecoin has defied all odds and expectations, skyrocketing in both market cap and coin value, time after time over the years. It is also a favorite cryptocurrency of Elon Musk, the world’s richest man, the CEO of Tesla and SpaceX, and the new leader of the Department of Government Efficiency (D.O.G.E.).
With Musk being the most vocal DOGE supporter, and being quite close to the current US government, this coin is likely to do exceptionally well moving forward, making it a worthy purchase now.
But, with or without Musk’s support, Dogecoin has survived numerous crypto winters and bearish waves, and after all of that, it ended up establishing the meme coin sector. This is the Bitcoin of meme coins, and it is safe to say that DOGE is not going anywhere, other than up, when the market allows it.
Best Wallet (BEST)
The last on the list is Best Wallet’s native cryptocurrency, BEST. This one is slightly different from the others due to the fact that it is not an established crypto. In fact, it is currently still in its presale stage, but it deserves a place on the list due to the popularity that the Best Wallet itself is seeing.
This is one of the most popular and most advanced crypto wallets, which supports over 60 different blockchains, and all cryptocurrencies running on them. That means you can store thousands of different coins and tokens within, with new ones continuously coming out. It is also completely non-custodial, so no one other than you will have access to your funds.
Lastly, the wallet even lets you connect other wallets to it, which means that you can manage all of your portfolios and funds from one place. But, its native crypto, BEST, will be at the very heart of all of it, and it will bring major benefits to its holders. First, it will grant you a discount on transaction fees when you operate within the wallet. This is an extremely valuable feature, given that the wallet lets you buy, store, deposit, send, swap, sell, stake, spend, and secure your cryptos, without ever having to move them outside.
Next, BEST token will also let you access its launchpad, where upcoming tokens are. You will be able to buy them early before they go live, but you will need BEST to do that. If you choose to stake your tokens within the wallet, BEST will also ensure that you get higher staking rewards. Finally, holding BEST grants you access to the governance process, enabling you to help with decision-making through voting on various proposals.
As mentioned, BEST is still in its ICO stage, selling for only $0.02385 apiece, making it very affordable. Its presale already raised over $9 million, and given the demand, its price could blow up once the token finally goes live, so best buy it while its price is still low.
