Which Cryptocurrencies Should I Buy in New Zealand (2022)
Getting started with crypto is easier than you think! Take a closer look at these cryptocurrencies to start building your portfolio.
As of Q1 2022, there are over 16,900 cryptocurrencies being actively traded in blockchains around the world. With so many crypto to choose from it’s no surprise if the question of “which cryptocurrency should I buy?” comes to mind.
The crypto space has seen a steady increase in public interest lately. With El Salvador adopting Bitcoin as one of the nation’s legal tender (with a few countries soon to follow), and the discussions of a more sustainable Bitcoin mining practices is currently being underway – it’s no surprise that these headlines are attracting new players in the crypto space.
Cool, so which crypto should I buy?
Unfortunately, we cannot just hand the answer to you like, “Hey buy this and that.”
Each person’s risk tolerance is different. In the crypto space, you can find coins that have gained the trust of many investors, but you’ll also see some coins that are going up in price very quickly, but that its price could also be in danger of crashing just as fast.
Generally speaking, you shouldn’t buy crypto just because it’s on the news. But you should also research its value propositions that backs up its popularity.
The three cryptocurrency mentioned in this article are by no means recommendations. They are chosen to demonstrate what you can look for in a blockchain project that you want to invest in.
Jump right in: Click here to buy crypto in New Zealand.
Bitcoin (BTC) is commonly referred to as digital gold, as it shares many of gold’s qualities, although a few of Bitcoin’s unique qualities can be superior to that of gold.
Bitcoin is currently the most popular digital asset that people buy through us, at least partly due to the growing belief that Bitcoin is on the forecast for becoming the next Global Reserve Currency.
Conceived in 2008 during the global financial crisis, Bitcoin was the first cryptocurrency ever created. Since then, it’s paved the way for thousands of other cryptocurrencies.
In 2021, Tesla has announced its purchase of USD $1.5 Billion in Bitcoin (BTC), which generated immense public interest in the crypto space. Later during May of the same year, as Bitcoin experienced a large price correction, but there was evidence that long-term investors took the chance to “buy the dip” to accumulate Bitcoins for long-term holding.
There’s no doubt, Bitcoin remains the most popular crypto asset to invest in 2022, even after more than a decade after its inception.
You can check Bitcoin’s latest prices with our crypto price tracker by clicking here.
Learn more: Read our comprehensive guide on Bitcoin
Ethereum (ETH) is what could be referred to as a ‘Smart Coin’, as Ethereum doesn’t only act as a payment network, but also as an infrastructure for many other applications – such as smart contracts (Legal automated contracts).
Ethereum’s utility doesn’t stop at futuristic digital contracts though, as ETH’s use cases go far beyond. Ethereum can be used with digital identity, autonomous organisations, politics, data storage, ICO’s, gaming, and beyond.
It’s difficult to paint the big picture of Ethereum in a few sentences, but since I got involved in cryptocurrency, when somebody asks me what the future looks like, I typically go straight to thinking about Ethereum and its use cases. Of course, these are just my personal opinions 🙂
Check the latest ETH rates: How to Buy Ethereum (ETH) in New Zealand.
Cardano has had a few shining moments this year as crypto investors got excited about a new blockchain in development by Charles Hoskinson and his team.
Hoskinson was one of the founding members of Ethereum, and together with developers, academics, and scientists across the world, he introduces a next-generation blockchain that is fast, energy-efficient, and guaranteed to succeed due to the immense amount of research put into it.
Unlike Bitcoin and Ethereum, the Cardano network uses the Proof of Stake consensus protocol, which does not rely on special cryptocurrency mining machines to keep the network alive. In fact, Ethereum is slowly transitioning to this protocol to permanently solve its network congestion problems.
In April 2021, Cardano has partnered up with Ethiopia and Tanzania to help develop a decentralised digital infrastructure that will close the gap between the government and the citizens, and provide greater opportunities for faster development.
For Cardano investors, this is great news as network utility is proportional to the long-term value of Cardano’s cryptocurrency, the ADA coins.
If you are keen on learning more about Cardano, here is our full yet simplified breakdown.
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Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.
Last updated July 4, 2022