Shiba Inu has been one of the most popular cryptocurrencies as of late, after gaining a tonne of value earlier this year. As far as returns go, if you bought and sold at the right time, Shiba Inu might have been the best investment you could have made in cryptocurrencies this year.
However, while Shiba Inu can be used for decentralized finance purposes and has some use cases, there are still tonnes of other cryptocurrencies with far better potential.
It’s crucial when investing in cryptocurrencies that because they are so volatile, we invest for the long term. This means focusing on the technology behind the cryptocurrencies and whether or not it’s quality enough to continue gaining popularity or whether a new project will come along and take over.
For example, Ethereum is an exceptional technology, but because of the few drawbacks it has, several other projects have attempted to address these issues.
So, in addition to strong technology, the cryptocurrency in question also has to be user-friendly for both consumers as well as developers. And finally, it has to have a tonne of use cases.
So with that in mind, here are three of the best cryptocurrencies to buy today that all offer far more potential than Shiba Inu.
Rather than an Ethereum token like Shiba Inu, consider buying Ether Shiba Inu is just one of many tokens on the Ethereum network. So while the token still only has a few use cases, anything you do want to do with it, you’re almost certainly going to need Ether to pay for the transaction fees.
This is the basis for why Ether is one of the best long-term investments you can make. While Bitcoin is the most valuable cryptocurrency, Ethereum has long had the most actively used blockchain.
And every time you want to use the blockchain, you need Ether, which gives the coin a tonne of demand. So, in theory, as more users are drawn to the cryptocurrency industry, the more Ethereum’s network will be used.
This should drive up the demand and consequently the price of Ether for years to come, which is why it’s one of the best and most popular cryptocurrencies you can own, or gain exposure to through an ETF like the CI Galaxy Ethereum ETF.
Consider gaining exposure to virtual real estate If you haven’t heard of Decentraland yet, you’re likely to start hearing about it more often soon. So far in the cryptocurrency revolution, one of the biggest innovations has been the contribution to the creation of metaverse and virtual real estate. So rather than speculating on Shiba Inu, Decentraland offers a tonne of long-term growth potential.
Decentraland is easily one of the most popular virtual worlds right now, where you can buy, develop and sell, virtual land and properties. In order to do so, though, you need MANA, its native currency.
So an investment in MANA is an investment in the belief that virtual real estate and the development of the metaverse will continue to gain a tonne of popularity. Anyone that wants to buy virtual real estate has to own MANA. So much like Ether, investors expect the increasing demand for MANA tokens will cause the price to rally significantly.
Already in the last month, the price for MANA is up by roughly 50%. So if you’re looking for a high-quality cryptocurrency to hold for years, MANA is one of the most attractive options to consider and a far better choice than Shiba Inu.
You may want to gain exposure to the largest crypto exchange in the world Finally, another excellent cryptocurrency to buy instead of Shiba Inu is BNB, the native coin for Binance, the world’s largest cryptocurrency exchange.
BNB is already the third most valuable cryptocurrency, with a market cap just north of US$100 billion. However, that doesn’t mean that you’ve already missed out on the opportunity.
While BNB has seen an impressive rally in the past, the coin continues to offer a tonne of potential, especially as more users are drawn to the cryptocurrency industry and use Binance as their exchange of choice.
So as the Binance Exchange and Binance Smart Chain continue to gain in popularity, BNB surely offers better long-term potential than Shiba Inu.
The post Missed Out on Shiba Inu? 3 of the Best Cryptocurrencies to Buy instead appeared first on The Motley Fool Canada.
Fool contributor Daniel Da Costa has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.