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The world of crypto is becoming more intriguing by the day, with new cryptocurrencies entering the scene faster than old ones dropping the limelight. They are created for various purposes, and some of them are worth considering if you plan to invest your hard-earned money in crypto and diversify your portfolio.
This article discusses the best new cryptocurrencies you can invest in this summer. We bring you a guide that can help you choose virtual currencies and a list of the top 7 cryptocurrencies for July 2022.
Top 7 cryptocurrencies to invest in this summer
Without further ado, let’s take a look at the most promising digital currencies you can buy in July 2022.
1. My Freedom Piece
As the only shockproof asset in the world, My Freedom Coin (MFC) secures the top spot on our list of best new cryptocurrencies for this summer. It serves as the native currency for the decentralized financial software of the same name. The platform comes with Zero Liquidation Risk, which sets it apart from the myriad of DeFi lending platforms that are subject to liquidation.
Let’s see how it works. Each MFC in circulation is backed by BUSD tokens in the protocol treasury. The BUSD treasury generates funds from coin offerings and ensures that the MFC price does not fall below a certain point, known as the “floor price”. You can buy and sell the coin through peer-to-peer transactions. My Freedom Coin has some interesting DeFi mechanisms in place to sustainably appreciate the value of the coin over time. In fact, it is the only cryptocurrency in existence with a price floor where all revenue contributes to the appreciation of the coin.
Chief among these is the small 0.5% commission charged on all MFC peer-to-peer (P2P) transactions. It lowers the circulating supply of MFC and, in turn, raises its floor price, the absolute lowest price the coin can be at. Additionally, the protocol burns revenue generated from license fees, exchange fees, and interest on loans. Thus, transactions on the platform contribute to the appreciation of the Floor Price. Its unique economy ensures that all token holders benefit equally, making My Freedom Coin a true user-owned DeFi software.
You can get My Freedom Loans from the Treasury using your MFC as collateral to buy more MFC.
For example, let’s say the floor price is $1 and you have 1,000 MFC tokens. You can take out a $1,000 loan from the BUSD treasury at 0.98% interest per month. When repaying your loan, you will still receive the 1000 MFC tokens you used as collateral, less accrued interest during the term. Let’s say the floor price rose to $1.50 six months later. When you pay off your interest due and receive your collateral, it is now worth $1,500, which means you have earned an additional $500, less accrued interest during the term.
MFC is an invite-only application. You need an invitation code to join the platform. A $50 fee is charged for using/activating the exchange for one month. Otherwise, the use of the application is free. While $45 is added to the community program for referral bonuses, $5 is used to create a monthly MFC request through BuyBack. Tokens purchased through BuyBack are taken out of circulation, which raises the price floor. Essentially, the $50 fee is fully reinvested into the project.
The protocol rewards the member who invited you to the platform each time you activate the exchange. The tiered referral program incentivizes users to build exposure for the project. Our readers can join My Freedom Coin using the code ABXNMMXPHN or the QR code below.
The best we found about this cryptocurrency
- Zero liquidation risk
- Free download on iOS and Android
- Totally unique economy
- Secured loans for BUSD
- Clean and user-friendly interface
CryptoMines Reborn, or CRUX, is a new cryptocurrency that you can use to buy NFTs while playing the identically titled game. The word Reborn refers to the fact that this is the revived version of the original game. The original game and its Eternal token were shut down in December 2021, only to come back bigger and stronger. If you like NFT play-to-earn games and want to try CryptoMines Reborn, you will need to get CRUX to acquire the basic NFTs needed to play.
Bitgert is one of the fastest growing crypto projects in recent times. Also known as BRISE, it runs on the Bitgert chain, with 100,000 transactions processed per second and near-zero gas transaction fees. It offers the lowest gas fees and the fastest blockchain in the world, which makes BRISE stand out from the competition. Bigert is considered one of the safest crypto investments at the time of writing, with its price set to skyrocket due to high demand. So, if you are planning to invest in Bitgert, you should do it as soon as possible. July seems like a perfectly reasonable time to pile your portfolio with some BREEZE.
4. King Cardan
If you want to generate passive income while holding crypto, King Cardano (KADA) might be one of the best options this year. This is the first self-recovering ADA token that you can hold and be rewarded every time you make an ADA transaction. Rewards are granted automatically, and the longer you hold KADA, the higher the rewards. Another reason you should consider investing in KADA is that its price increases with every trade, with 3% of each trade bought back and burned.
Kasta is a blockchain-based payment system that serves as an alternative to traditional mobile payment services. It allows users to send crypto instantly by scanning QR codes and offers a native token of the same name. By investing in Kasta, you can enjoy various applications and incentives within its ecosystem, including reduced exchange fees, higher rates of return, cashback bonuses, and limited design debit cards.
While blockchain technology has already changed the online gambling industry by introducing games with proven fairness, LuckyBlock (LBlock) is created to revolutionize it. It is the native token of the LuckyBlock platform, running on Binance Smart Chain and using blockchain protocols. Moreover, it offers crypto games and competitions where players can win rewards. LBlock is the fastest crypto to hit the $1 billion market cap, with over 50,000 investors within the first 90 days of launch. As an LBlock holder, you can earn rewards on every jackpot and transact without fees.
Launched in February 2022, X2Y2 is a decentralized NFT marketplace allowing users to connect various crypto wallets. Created to challenge OpenSea, the most popular NFT marketplace, X2Y2 initially dropped 120 million native tokens. In doing so, the new market tried to entice OpenSea users to register with them. This caused the price of X2Y2 to soar over 200% in two days. Some of the incentives that X2Y2 users can benefit from include zero transaction fees and all gas costs refunded. At the same time, users will be able to earn market fees and token rewards while staking X2Y2.
Things to Consider When Choosing Cryptocurrencies
The three main factors to consider are the concept, the team behind it and its launch date.
On the concept side, it is necessary to opt for virtual currencies capable of becoming useful. Some of them are created to solve problems that have been around since the dawn of the crypto industry, while others offer features that can save you time or allow you to trade profitably. So a viable concept that can make a difference is what you should be looking for.
One thing you shouldn’t overlook when choosing new coins to grab is who’s behind the project. The most famous cryptocurrency, Bitcoin, was officially founded by Satoshi Nakamoto. However, the true identity of any individual or team behind her has never been confirmed. This is just one example of anonymous groups running crypto projects. On the other hand, we have cryptocurrencies launched by fintech experts. So, explore the history of the part before buying it and choose the ones built by reputable teams or individuals.
Finally, you should be aware of its launch date. Some of those who got bitcoin in the beginning are now billionaires. Although few cryptocurrencies can match Bitcoin in value, there are advantages to being an early adopter. At least you can invest in cryptocurrency at probably the lowest possible price.
With new cryptocurrencies emerging hour by hour, we strive to keep you up to date with every facet of the newly launched tokens. It is best to make an informed decision on which tokens to consider in your investment plans. Plus, we want to introduce you to new concepts, making sure you’re ready to act once they hit the market.
This month we recommend My Freedom Coin, the world’s only shockproof asset. The unique economics of the platform ensures that the value of the token never drops below its price floor. It is designed to withstand market volatilities as each MFC is backed by BUSD tokens in the protocol treasury. Additionally, all activity on the platform helps to appreciate the value of the coin, rewarding token holders lucratively over time.