Investing comes in many different forms, and one of the latest to hit the mainstream over the last several years is cryptocurrency. We’ve seen everything from new ideas to usher in the next era of the Internet to claims of easy ways to get rich and everything in between. But while it’s unlikely that we’ll all be driving Lambos and posing for Instagram on private islands thanks to some electronic meme coins, if you’re looking for speculative investments, you have options. The military community is far from immune to inflation, and investing can help you mitigate these risks over the long run. We’re running down the best cryptocurrency to buy to diversify your portfolio. Read next:3 of the Best Credit Cards for Military Members

What Is the Best Cryptocurrency To Buy?

Telling you the best cryptocurrency to buy is like trying to settle which rapper is the best, which branch of the military trains the hardest, or which came first, the chicken or the egg. In other words, there will always be a debate. But there are plenty of cryptocurrencies out there and different reasons to invest. Overall, you’ll want to invest with money you can afford to lose for purposes you believe in when it comes to crypto, or anything really. Furthermore, it’s no secret that the world of crypto has taken quite a hit as of late. You can take away all of the inflationary disruptions and speculations about NFTs and so on, but you’ll still be facing several other jarring concerns. Most notable is the latest on FTX’s bankruptcy, BlockFi, and more. Such trends are driving down confidence and prices across the board. But if you can withstand such conditions and tolerate the risk, this can be a great time to buy. Here’s our opinion on the best cryptocurrencies to buy for 2023:

1. Bitcoin (BTC)

While it might not be the first, there’s no denying Bitcoin’s impact on how crypto was perceived by the world. Sure, there are investment opportunities that will likely yield a lot more, but they also come with much more risk. BTC has proven time and time again that it’s built to fulfill its goal as a peer-to-peer payment system through the good and the bad. The largest cryptocurrency in the world will look to recapture some of its all-time highs from 2021 when the coin reached over $65,000. Whitepaper:A Peer-to-Peer Electronic Cash System

2. Ether (ETH)

The coin that calls the Ethereum blockchain its home gained notoriety over the last few years, and for good reason. There are a lot of coins claiming to have use or functionality, but ETH really saw this come to life through the sale of non-fungible tokens, or NFTs. Transactions are arguably making this coin the best cryptocurrency to buy going forward. This concept is still very young in its current form, and while it’s easy to dismiss a few pictures as valuable, the idea of NFTs (as opposed to its current execution) could have legs. Having ownership of virtual items in a world increasingly becoming more and more digital is as crazy as using the Internet to have strangers bring us around in their vehicles. Crazy, until it happens. Whitepaper:Ethereum Whitepaper

3. Binance Coin (BNB)

There are many reasons to be skeptical about cryptocurrency exchanges, primarily because of Binance’s competitor FTX. But even the creators of BNB understood to stay clear as its rival tanked, and it almost stepped in at the last second to save the venture. Binance is working hard to establish itself as a legitimate exchange and continues to make the right moves in doing so, such as providing accurate, trusted information on CoinMarketCap. Over time, the BNB coin will become even more scarce, which should add to its value. If you're looking for the best cryptocurrency to buy from an exchange itself, this could be the one. Whitepaper:Binance Coin Whitepaper

4. Polygon (MATIC)

If you’re looking for a coin with a serious upside, Polygon may have the answer. The upside comes not only in the price you’ll find MATIC at as we end 2022 but also in the initiative of the coin to provide faster transactions for users at a lower cost on the blockchain. Whitepaper:Polygon Lightpaper

5. Military.Finance (MIL)

MIL is a coin on the Ethereum blockchain. Unlike many of the other coins that are focusing on providing or improving upon a way to create transactions, Military.Finance is focused on change in the real world. How far this coin goes from an investment standpoint is anyone’s guess, but MIL uses its funding and network to support Veterans and first responders through causes chosen by its own community. This is a great way to invest, get involved, and have a voice in changing communities for Veterans throughout the country. The ability to impact the lives of our nation’s heroes may make this the best cryptocurrency to invest in for reasons far beyond monetary value. Whitepaper:Military.Finance Whitepaper

When Is the Best Time To Buy Cryptocurrency?

Purchasing coins outside of peak hours and when prices are lower can be a great idea for long-term investors. Here are some of the main reasons why:

• Lower traffic means fewer transactions. Fewer transactions mean lower gas fees (transaction fees on the blockchain to process transactions).
• If you purchase investment low and sell them when they rise in price, you will find a better return on investment (ROI).

Again, everyone’s situation is different, so the best time to buy for you may not be the same as another investor. Either way, the best cryptocurrency to buy is one that makes sense for your investment strategy in the long term. Suggested read:Free Tax Filing for Veterans & 3 Expert Tips on How To File

Disclaimer: It’s important to note that any investment comes with risk. This is not financial advice and any such advice should come from a licensed financial professional. Also, while the information here is presented to be truthful and accurate, valuations can fluctuate. Last but not least, this is a great website for the military community, but we are not bankers. These are not suggestions but rather jumping-off points. Conduct your own research and do you own due diligence before investing. This includes reading whitepapers provided by each coin. The staff of VeteranLife may have financial interests in the investments listed above.