3 Cryptocurrencies Trading at an Even Bigger Discount Than Bitcoin

These three cryptocurrencies are not just cheaper than Bitcoin; they could also offer far more long-term growth potential.

| More on:
edit Sale sign, value, discount

Image source: Getty Images

There’s no doubt there are some serious bargains in the cryptocurrency industry, with Bitcoin (CRYPTO:BTC) being one of them. However, if you’re looking to take advantage of the recent selloff and buy the dip, there are cryptocurrencies that offer even more growth potential than Bitcoin and trade at an even bigger discount.

With so many cryptocurrencies to choose from, it can be difficult to decide which cryptocurrencies are the best to buy. So, as long as you find projects that you believe users will appreciate and can grow in popularity, then it should be an excellent investment to buy and hold long term.

An excellent example would be a popular play-to-earn video game. If you discover a game that’s fun, has a strong community, and has a model that’s scalable and can earn investors a lot of money playing, then the game should have years of growth potential.

Another example could be a popular decentralized exchange, allowing investors to participate in DeFi. Or perhaps it could be a new blockchain that offers the same level of security and decentralization as existing blockchains but with improved scalability.

So, if you’re looking to take advantage of the discount in Bitcoin and the rest of the cryptocurrency industry, here are three of the best to buy today.

Uniswap

Uniswap (CRYPTO:UNI) is the leading decentralized exchange on Ethereum (CRYPTO:ETH). The DeFi protocol not only allows users to exchange hundreds of cryptocurrencies, but because it acts as an automated market maker, users can also contribute their cryptocurrencies to provide liquidity. These liquidity pools then pay out a percentage of the trading fees back to the users who invested their capital.

This is, in essence, how DeFi works, and as the industry gains popularity, naturally, so does Uniswap. And while Bitcoin is down by about 37.5% from its all-time high, Uniswap is down 65%.

Furthermore, with the potential DeFi has and the fact that Uniswap already has such a dominant position in the Ethereum ecosystem, it could even offer more growth potential than Bitcoin, too.

So, if you’re looking to buy the dip and find high-quality cryptocurrencies to buy today, Uniswap is one of the best to consider.

Decentraland

Decentraland (CRYPTO:MANA), one of the best cryptocurrencies to buy if you want exposure to the metaverse, is another high-quality investment to consider today.

Decentraland is also down considerably more than Bitcoin, with its price trading at about half of its all-time high. This is creating an excellent opportunity for long-term investors, especially if you’re bullish on the potential that Decentraland’s metaverse offers.

Decentraland allows users to create tonnes of unique experiences, challenges, or products in its virtual world. And these products can not only be sold once but can generate royalties for the creators each time it’s additionally sold.

Virtual worlds have been gaining in popularity. But now, with the potential to earn cryptocurrency, they are some of the best projects to invest in.

So, with Decentraland trading at an even bigger discount than Bitcoin today, it’s surely only of the top cryptocurrencies to buy now.

Tezos: A blockchain competitor to Bitcoin

The last high-potential cryptocurrency trading even cheaper than Bitcoin is Tezos (CRYPTO:XTZ), a smart contract compatible blockchain that’s been designed to upgrade on its own.

This is a crucial development for Tezos, as upgrades to blockchain technology are somewhat common, especially as they scale and run into problems the bigger they get. It also allows the cryptocurrency to avoid hard forks, since consensus for an upgrade can be reached by holders of XTZ voting on it.

Tezos has now partnered with multiple Formula One teams, multiple banks, a ride-sharing company, and a casino, as more organizations recognize its significant potential.

So, if you’re looking for a high-quality cryptocurrency trading at a bigger discount than Bitcoin, Tezos is one of the best to consider.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Daniel Da Costa owns Decentraland and Ethereum. The Motley Fool owns and recommends Bitcoin, Ethereum, and Tezos.

More on Investing

A plant grows from coins.
Dividend Stocks

3 Cheap Canadian Stocks That Offer 7% Dividend Yields

Retirees looking to build pension portfolios have an opportunity to buy great TSX dividend-growth stocks at discounted prices.

Read more »

Man making notes on graphs and charts
Investing

3 Magnificent Stocks That I’m “Never” Selling

These three stocks have struggled as of late, but there’s no chance I’m selling anytime soon.

Read more »

dividends grow over time
Dividend Stocks

2 Dividend Stocks That Can Generate $2,000 in Passive Income by 2025

Investing in high-dividend stocks such as Whitecap can help you generate $2,000 in annual passive income by 2025.

Read more »

tsx today
Stock Market

TSX Today: Why Canadian Stocks Could Fall on Thursday, May 30

Falling commodity prices, rising bond yields, and economic risks may continue to weigh on TSX stocks today as investors watch…

Read more »

Simple life style relaxation with Asian working business woman healthy lifestyle take it easy resting in comfort hotel or home living room having free time with peace of mind and self health balance
Investing

2 No-Brainer Stocks to Buy With $5,000

These two stocks could be excellent buys amid this uncertain outlook.

Read more »

IMAGE OF A NOTEBOOK WITH TFSA WRITTEN ON IT
Stocks for Beginners

5 Canadian Stocks to Hold in Your TFSA For Decades

The TFSA is the perfect place to compound wealth over decades. Don't pay any tax on these top five growth…

Read more »

edit Woman calculating figures next to a laptop
Dividend Stocks

Should You Invest in BCE Stock for its Dividend?

BCE stock is not yet out of the woods. But this article could change your perspective about the stock and…

Read more »

sale discount best price
Dividend Stocks

Bargain Hunting for Dividends: 3 High-Yield Stocks Haven’t Been This Cheap in Years

Enbridge (TSX:ENB) stock's key enterprise value multiple reached a new multi-year low recently. BCE remains a high-yield dividend play while…

Read more »