Singapore is a tech hub that has also embraced cryptocurrencies. It is one of the places where many crypto companies started and many are based in.
Therefore its citizens or residents will be making a huge mistake if they are not investing in crypto. If you’re reading this, you’re probably thinking about investing in cryptocurrencies already, and that is a great decision to make, considering how promising crypto is.
However, as an investor and especially a beginner one, it is important to first decide on which crypto assets to buy. They should be secure assets with little to no chance of failing, and also have an established history with good use cases.
Considering these factors, the following are the top cryptocurrencies you should consider investing in if you live in Singapore.
Bitcoin (BTC)
Bitcoin is the universal crypto asset, with people from all over the world buying it. It is also a reliable asset, because it has existed for close to two decades without failing for a day. Over the years, Bitcoin has risen astronomically and there are reasons to believe it’ll continue to rise.
First, it recently got SEC approval for a spot ETF, which makes it far more trustworthy for big investors than ever. This has led to the recent price rally we witnessed which took Bitcoin to a new all-time high of over $73,000.
Another major reason for optimism around Bitcoin is the upcoming halving event. This event which happens once in roughly four years usually leads to a massive Bitcoin rally. If you’re interested in Bitcoin, the time to buy is now.
Ethereum (ETH)
Ethereum is the second largest crypto project after Bitcoin, but that is not the reason why it is the second on this list. Though Ethereum has its own problems such as low scalability and high gas fees, it remains the leader in smart contracts and decentralized applications.
The project also has a number of upgrades in place that are expected to bring massive changes that will make it more efficient, scalable, and cheaper to use. This will increase the value of the network and its token, ETH.
ETH is currently one of the top performers leading the current bull market, but it could do even better than Bitcoin according to analysts.
Solana (SOL)
Solana is a much younger project than Bitcoin, but one that has become a formidable rival of Bitcoin’s. The secret to the project’s growth lies directly in its design which makes it infinitely scalable, something that Ethereum lacks.
Because of its scalability, Solana is also quite efficient, with low transaction fees that keep attracting new developers and users. Over the years, SOL, the native token used on the network has been a major success.
It was the best performing asset among the top ten in 2023, and it seems like it is gearing up for similar exploits this year.
Binance Coin (BNB)
Binance Coin is the crypto token used to power the Binance ecosystem, including its blockchain networks and other applications. It is also a preferred asset on Binance’s trading platform.
Because of the efficiency and scalability of networks like Binance Chain and Binance Smart Chain, BNB, the token has grown significantly both this year and the previous years.
As the bull cycle is just starting and BNB is already leading ahead, we believe it’ll stay ahead till the end, and could be a good buy at this point.
Polygon (MATIC)
Polygon was created to serve as a Layer 2 network to improve the scalability of Ethereum. Because it boasts higher scalability and speed, the network has grown rather rapidly over the years, making MATIC a competitive token.
In 2024, the token has been ahead of most, and analysts believe this could be the last time it would be available under $1. Therefore if you’re looking for a token under $1 to buy, now is the time to buy MATIC.
