Are you a resident of Dubai looking for crypto assets to buy? This is a good decision because cryptocurrencies have been good investments.
However, it isn’t every crypto asset that is good for you, as many are not even safe to invest in. There are several scam crypto projects out there, which makes it important to choose your projects wisely, especially as a beginner.
In choosing which projects to invest in, you should go for projects that are established with many years of existence. This means there’s almost zero chance of ever losing your money to a scam.
Another thing to consider is how much you wish to invest. If you don’t have millions to buy Bitcoin, you can invest what you have, but in a smaller project with a lower cap or price and with much room for rapid growth instead, since this will profit you faster.
With that said, here are the best cryptocurrencies to buy for investment in Dubai.
Bitcoin (BTC)
Bitcoin is the giant cryptocurrency that everyone knows. However because of its popularity, the price has grown faster than most, and is quite up there now. The market cap has also grown a lot to become the biggest in the industry by a wide gap.
This means that it is hardly profitable for retail investors with a few hundred to thousands of dollars. However if you have the big money to invest in crypto, Bitcoin is usually your best bet especially for the long term.
Of course, you can’t worry about Bitcoin’s integrity as a project. The only chance that you’ll lose your investment is if the price crashes without recovery, which is impossible as the demand for this asset is steadily on the increase.
Ethereum (ETH)
Ethereum is the second most popular crypto project and also the second largest by market capitalization. However, it is distinctly different from Bitcoin in terms of design and everything else, being a proof-of-stake network now.
Although it is also quite high in market cap, it is nowhere near Bitcoin, which means it is still quite available as an investment asset for those who are not necessarily with big money, and the price is still low.
The project also holds a lot of promise as analysts believe it can perform better than Bitcoin this year if its proposed upgrades are implemented, which makes the ETH token a potential investment asset with promise too.
Solana (SOL)
Whenever you talk about Ethereum, Solana seems to follow because it is one proof-of-stake project that has come into limelight and is competing with Ethereum. Often referred to as the Ethereum killer, the project has achieved a lot on its own.
Last year, it was the best performing asset among the top ten assets, and is still one of the leading ones currently. One of the reasons behind Solana’s performance is its super efficiency which makes it an excellent place for developers to build at the lowest possible cost.
The all-time high price of Solana is $260, but it’s currently much lower than $200. Analysts believe it will easily surpass this all-time high in this bull cycle, which is a certain investment if you are looking for one.
Shiba Inu (SHIB)
It would be unfair to conclude this list without including at least one meme crypto asset because meme tokens and coins have done well in the past. Although past performance doesn’t guarantee future performance, Shiba Inu has proven otherwise lately.
Just earlier this year, the second largest meme token pulled a massive rally following Bitcoin, that rewarded its holders massively. This doesn’t mean that the token’s rallying days are over, in fact it’s quite the opposite.
Those who have held SHIB know that it can make you rich quite quickly and can also wreck you just as quickly. Therefore it is advisable to proceed with caution, especially for beginners as the volatility is quite high.
