BTC - 2 Cryptocurrency Picks If Utility Is Your Priority
2024-04-06 07:20:00 ET
According to The Motley Fool Ascent's 2024 Cryptocurrency Investor Trends Survey , one of the major factors holding investors back from investing in crypto is a clear lack of utility for many top cryptocurrencies. More than a third (35%) of respondents who did not own crypto said that they "did not know what to do with it."
Fair enough. It's hard to see any utility whatsoever for dog-themed meme coins, and even Bitcoin (CRYPTO: BTC) is still primarily a long-term store of value that you buy and hold (and don't use in your everyday life). But don't despair, crypto investors, because there are two high-quality cryptos that offer significant utility and should definitely be on your radar if utility is your priority.
My top utility crypto is Ethereum (CRYPTO: ETH) . It offers a highly diversified blockchain ecosystem and plenty of everyday ways to put your crypto to use. For example, you could use your Ethereum to buy a non-fungible token (NFT) that has been minted on the Ethereum blockchain. You could use your crypto to participate in a decentralized finance (DeFi) protocol in order to earn extra yield on your investment. You could swap your Ethereum for another token using any of the decentralized exchanges running on the Ethereum blockchain. Or you could use your crypto to play blockchain or metaverse games built on top of Ethereum.
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2 Cryptocurrency Picks If Utility Is Your Priority