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Reddit is a fantastic place for discovering the best cryptocurrencies to invest in. But if you’re not careful, you can get bogged down in all of the noise and end up with some sub-par recommendations. Today, you’re saved the legwork with this list of seven of the top cryptocurrencies Reddit users have recommended in an easy-to-read article. Let’s take a look.
1. Metacade (MCADE) – The Play-to-Earn Gaming Hub of the Future
Metacade is a virtual hangout designed to be Web3’s ultimate destination for play-to-earn gaming. In Metacade, you’ll be able to chat with fellow gamers, discover multiple earning opportunities, and help direct the next wave of play-to-earn titles.
Metacade is being built with the intention of creating a one-stop location for everything play-to-earn. On the platform, you’ll find dedicated forums, reviews, leaderboards, and the very best GameFi alpha shared by industry experts to help you immerse yourself in this exciting world alongside thousands of like-minded crypto enthusiasts.
To encourage players to help one another, Metacade rewards its users with the MCADE token each time they post a review, share some helpful tips, or offer other valuable content to the community. Play-to-earn veterans are incentivised to share their knowledge for others to learn from while new players can earn just by writing a review on a game they’ve been playing – everyone wins!
These aren’t the only ways to earn through Metacade, however. You could also become a casual game tester for Metacade’s developer community or test your luck in regular prize draws and tournaments for a chance to win MCADE tokens! In 2024, Metacade will launch its job and gig board where you’ll find a wide range of casual, part-time, and full-time opportunities working with some of the most innovative companies in gaming and Web3.
One feature that some Redditors are talking about is Metagrants, a funding tool that allows MCADE holders to vote on the games they want to see developed. Developers compete for Metagrants by entering their ideas into a pool of projects, aiming to win the most votes for their game. The winner is given financing from the Metacade treasury to get their game off the ground with the finished title being added to the platform’s virtual arcade for the whole world to enjoy.
One of the big reasons Reddit is so bullish on Metacade is because of the expected growth of the play-to-earn industry over the next few years. Crypto.com forecasts that the blockchain gaming industry will grow at a compounded annual growth rate (CAGR) of 100% between 2021 and 2025, adding $48.5 billion to its market size in the process. Compare that to traditional gaming, which is set to grow at a CAGR of 10% in the meantime. This means GameFi will grow at 10x the rate of traditional gaming by 2025.
With a community-centric focus, it’s no wonder Metacade has found favour amongst Redditors. It offers several exciting features that have the potential to attract a massive user base as play-to-earn becomes more widely adopted and makes MCADE Reddit’s top choice for the best cryptocurrency to invest in.
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2. Ethereum (ETH) – A Strong Choice of Many Redditors
Ethereum is one of the most popular cryptocurrencies on Reddit and for an understandable reason. It’s the world’s leading smart contract platform, powering over 3,500 dApps (DappRadar) and holding around $32.5 billion in its DeFi projects – about 58% of the total value locked across the entire DeFi ecosystem (DeFiLlama).
It provides the fundamental infrastructure for many of the world’s NFT projects, accounting for $30 billion in NFT sales, according to Crypto Slam. That’s more than 10x of the “Ethereum Killer” Solana and more than 30x of Cardano’s NFT volume.
All of this is to say that Ethereum is one of the most important projects in the crypto space and would be an excellent allocation in anyone’s crypto portfolio. There are currently 1.5 million members in the r/Ethereum subreddit, proving Ethereum is one of the best cryptocurrencies to invest in, according to Reddit.
3. Bitcoin (BTC) – The One That Started it All
Bitcoin is the world’s most valuable cryptocurrency with a market cap of around $300 billion – almost 10x Ethereum’s market cap of $33 billion, as per CoinGecko. Bitcoin is often suggested by Reddit users as the first cryptocurrency you should buy, given its status as one of the least volatile and widely-accepted coins. That’s part of the reason the r/Bitcoin subreddit has 4.7 million members, making it the 42nd largest subreddit on the site.
Of course, most of Reddit’s crypto investors holding Bitcoin isn’t a strong enough reason to invest. Instead, consider Bitcoin’s fundamentals: it’s one of the world’s only truly decentralised cryptocurrencies with no central authority managing it. It has a fixed supply, while demand has only increased since its inception.
You’ve probably seen Bitcoin referred to as “digital gold” before. While that’s an oversimplification, the statement still has merit. Bitcoin has the potential to act as a powerful inflation hedge and alongside traditional precious metals will likely see demand pick up as inflation becomes more embedded in western society. That’s why it’s widely considered by Reddit as one of the best cryptocurrencies to invest in.
4. Shiba Inu (SHIB) – Proving the Power of the Reddit Community
Reddit is a community-based platform like Metacade. When communities come together, they can produce amazing things, like causing little-known meme tokens to soar at a tremendous rate. That’s exactly what happened to Shiba Inu, a copycat of the famous Dogecoin.
Reddit played an instrumental role in attracting thousands of members to join the cause by forming the r/SHIBArmy subreddit, which now boasts 476k members. Today, Shiba Inu sits as the 14th most valuable cryptocurrency on the market, thanks to its loyal fanbase that continue to HODL.
What started out as a simple meme token driven by a desire to get rich quickly has turned into an entire ecosystem of community-driven engagement. There are now LEASH and BONE tokens, which offer staking rewards and voting rights to holders, respectively. The Shiba Inu ecosystem even has its own decentralised exchange, ShibaSwap, a collection of NFTs called Shiboshis, and a mobile play-to-earn game called Shiba Eternity. Shiba Inu isn’t going anywhere anytime soon and is one the best cryptocurrencies to invest in according to Reddit.
5. Binance Coin (BNB) – The Native Token of the World’s Largest Exchange
Binance Coin started out as a trading fee discount token for the Binance exchange, the world’s largest exchange. Since then, it’s grown to power the BNB Chain, a smart contract platform that rivals Ethereum. It powers more dApps than Ethereum, boasting over 4300 (DappRadar), and has the second-highest total value locked across its DeFi projects, according to DeFiLlama.
r/binance, the Reddit home of the Binance exchange and Binance Coin, has 879k members. One of the reasons BNB is so popular is because of the quarterly supply burns Binance carries out. In their Q3 2022 burn, the 21st of its kind, Binance removed over $500 million in BNB from the total supply (bnbburn.info).
This makes BNB deflationary and with the token seeing increased demand as crypto becomes more widely adopted, its price should continue on an upwards trajectory for years to come. That’s why it’s considered one of the best cryptocurrencies to invest in, according to Reddit.
6. Uniswap (UNI) – The Place to Trade Moonshots
Uniswap is the world’s largest decentralised exchange (dex) by far, accounting for over $1.3 billion in daily volume (CoinGecko). This is around half of the daily volume across all dexes, and substantially more than the other leading dexes.
Part of the reason Uniswap is so popular on Reddit is because of the ability to list and trade coins that you won’t find on centralised exchanges. Subreddits like r/SatoshiStreetBets, r/CryptoStreetBets, and r/CryptoMoonshots were (and still are) full of suggestions of low-cap tokens to buy and Uniswap is often one of the only places you can trade these tokens.
Whether you buy into the hype or not, one of the easiest ways to profit from this speculation is by purchasing the UNI token, as it often sees increased demand when more users are trading on the dex. Uniswap has 64.3k members in the r/UniSwap subreddit, proving its popularity amongst Reddit users as one of the best cryptocurrencies to invest in.
7. NEAR Protocol (NEAR) – Making Smart Contract Technology Accessible
NEAR Protocol is a potent competitor in the smart contract space. It’s a chain that focuses on user accessibility, offering readable wallet names for consumers and the ability to build with commonly-used programming languages like Javascript and Rust. NEAR can handle around 100,000 transactions per second at a cost of less than $0.01 per transaction thanks to its implementation of sharding. It is also entirely carbon neutral.
This approach to creating a simple, scalable blockchain has attracted 12.6k members to the r/nearprotocol subreddit, which puts it in the top 5% of all subreddits by size. Some of these members undoubtedly make up the 19m active accounts on NEAR and participate in the 400k transactions the chain sees daily. It is admittedly a lesser-known smart contract platform but NEAR already has some avid fans on Reddit, making it one of the best cryptocurrencies to invest in according to the front page of the internet.
Metacade is the Best Cryptocurrency to Invest in, According to Reddit
With a strong community behind each of these cryptocurrencies, they’ll undoubtedly do well over the next bull run. But it’s easy to see why Reddit feels an affinity for Metacade as a community-first platform. There’s no other project in the Web3 space building a platform for gamers by gamers like Metacade and that’s likely one of the key factors in why Redditors favour this up-and-coming project.
Do you think Metacade could become a leader in play-to-earn gaming? If so, you’ll want to check out the MCADE presale as soon as possible. Getting in early could potentially double your long-term earnings, as the earlier you buy, the more MCADE tokens you get. For example, in phase 1 of the presale, you could get 125 MCADE tokens for $1. In phase 8, you’ll get just 50 MCADE for $1. Don’t hang around – you might miss out on one of potentially the best investment opportunities in the play-to-earn industry!
You can participate in the Metacade pre-sale here.
