3 Cryptos That Are Better Buys Than Bitcoin or Ethereum

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Many crypto investors will probably argue that no crypto is a better buy than Bitcoin (BTC-USD) or Ethereum (ETH-USD). To some extent, when measuring long-term risk-adjusted returns, this argument holds water, as there are several high-potential cryptos better than Bitcoin worth considering.

However, not all investors look at crypto with the same investment time horizon or frame of reference. In the short term, a number of other top tokens have performed very well and may outperform these two top cryptos over time.

Against the backdrop of a national banking crisis and looming concerns over a US debt default, investors are increasingly looking to cryptocurrencies as potential safe-haven assets to navigate the economic challenges ahead. This shift in mindset marks a significant change from just six months ago, when the prevailing belief was that the “crypto winter” would persist until 2023.

But, the question arises: are there currently any truly secure cryptocurrencies to invest in? If so, which should investors consider adding to their portfolios this month? Here are three cryptos at the top of my list of projects that could potentially outperform Bitcoin and Ethereum over the next 2-3 years.

Monero (XMR-USD)

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Introduced in 2014, Monero (XMR-USD) is a decentralized cryptocurrency and blockchain network that prioritizes privacy. With its advanced features such as stealth addresses and ring signatures, Monero guarantees user anonymity. However, this commitment to privacy has also attracted increased regulatory attention globally. This makes it one of those high-potential cryptos better than Bitcoin.

Monero is a leading privacy coin, offering complete anonymity and untraceability for its blockchain transactions. Using state-of-the-art technology, Monero conceals the sender, receiver, and amount of the transaction, providing a high level of privacy. Summing up its philosophy, with its motto “secure, private, untraceable”, Monero has garnered global appeal for users. The growing demand for privacy coins has propelled the price of XMR by 16% over the past six months.

Another key point is that despite regulatory and legislative scrutiny due to its potential involvement in illicit activities like international money laundering, Monero remains popular among users who are undeterred by such criticism. The use and value of XMR has been steadily growing, with a remarkable 76% increase since 2017. Crypto enthusiasts believe that ongoing cryptocurrency regulation will further drive users towards the privacy provided by Monero, pointing to prospects promising for continued growth.

Monero relies on proof of work for decentralized consensus and offers private, secure and untraceable transactions via an opaque blockchain. With a default privacy setting, Monero uses confidential ring transactions, ring signatures, and stealth addresses. As a fungible and secure digital currency, Monero prioritizes user privacy, paving the way for a bright future.

Avalanche (AVAX-USD)

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Avalanche (AVAX-USD) started May 2023 on a bullish note, trading at $16.66. Although the bears have been holding a price of $14 since May 18, Avalanche is now closing in on the $15 mark, aiming to regain its positive price trend. The increase in transaction volume indicates increased activity on the network.

Recently, Avalanche established strong support at the $14.29 price level, acting as a pivot point for the asset. Currently, it is trading above this immediate resistance level. However, the presence of bearish market forces persists, aimed at preventing AVAX from breaking above the next resistance level at $15.21. Despite its short-term bearish nature, it is still one of those high-potential cryptos better than Bitcoin.

Moreover, the integration of the Ethereum virtual machine makes Avalanche a preferred platform. Developers can now build decentralized applications at scale while reaping the benefits of a faster, more cost-effective blockchain. The Avalanche Bridge further enhances convenience and accessibility by facilitating seamless asset transfers across multiple blockchains.

The bottom line is that Avalanche stands out as a superior security choice over Bitcoin and Ethereum. Its unique feature of subnets allows the creation of private and public blockchains, adding versatility to its network. With practical real-world applications, Avalanche has immense potential for value and growth. Despite a significant downturn in the 2022 bear market, Avalanche has enjoyed a remarkable recovery in 2023, positioning itself as a compelling competitor in the field of decentralized finance.

Solana (SOL-USD)

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Solana (SOL-USD) enables the development of decentralized applications (DApps) through its distinctive hybrid consensus model. By merging Proof of History (PoH) with the underlying Proof of Stake (PoS) consensus, Solana achieves exceptionally fast transaction processing. Moreover, this speed makes it attractive for individual traders as well as institutional investors looking for efficient blockchain solutions.

Solana, launched by the Solana Foundation in March 2020, is establishing itself as an unconventional cryptocurrency project. It prioritizes features and runs on an open-source framework, using blockchain technology to drive decentralized finance (DeFi) solutions. Notably, Solana excels in both transaction speed and cost efficiency, ensuring scalability and fast processing. However, the network has faced intermittent outages, impacting its value and ambitions. Some critics also worry about his tokenomics favoring venture capitalists. Nevertheless, Solana remains an important player in the cryptocurrency space.

In summary, Solana has experienced a remarkable 100% increase this year, cementing its position as a driver of innovation. On top of that, their latest breakthrough, the Saga crypto phone, has the potential to revolutionize the crypto landscape. The Saga is an Android-powered mobile device designed to simplify and improve crypto business. With its pioneering Seed Vault technology, it streamlines the process of using your phone as a crypto wallet, eliminating common challenges faced by conventional phones. Experience a new level of convenience and efficiency in managing your crypto assets with the Saga Crypto Phone.

As of the date of publication, Chris MacDonald holds a position at ETH, SOL. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.

Chris MacDonald’s love of investing has led him to pursue an MBA in finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. . His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative long-term investment outlook.

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