Best DeFi cryptos to buy for the long term

Best DeFi cryptos to buy for the long term

By Crispus Nyaga - min read

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 offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

Kraken

Kraken is a San Francisco-based cryptocurrency exchange that allows users to trade various digital currencies. With a strong emphasis on security, Kraken employs cold storage for most funds and offers two-factor authentication (2FA). Its user-friendly interface provides real-time charts and order books, making it suitable for both beginners and experienced traders. Kraken also complies with regulatory requirements in the jurisdictions where it operates.

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

Paybis

Paybis is a cryptocurrency exchange platform that allows users to buy major cryptocurrencies using fiat currencies. With a focus on over 40 different fiat currencies, including EUR, USD, CAD, and JPY, users can transact via credit or debit cards, bank transfers, Skrill, or Neteller. While Paybis facilitates fiat-to-crypto transactions, its crypto selection is limited to coins like Bitcoin, Ethereum, Dogecoin, and Binance Coin.

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

Uphold

Uphold is a global digital money platform that offers financial services. It deals with 250+ currencies (both traditional and crypto) and commodities, facilitating more than US$4 billion in transactions. Uphold’s vision is to create a future where everyone has access to safe, transparent, fair, and affordable financial services

KuCoin

KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 5 million registered users from 200+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique visit ranks the top 5 globally.