7 Best New Cryptocurrencies for July 2022
Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.
The crypto world becomes more intriguing by the day, with new cryptocurrencies entering the scene faster than old ones giving up the spotlight. 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 look at the most promising digital currencies you can buy in July 2022.
1. My Freedom Coin
As the world’s only crashproof asset, My Freedom Coin (MFC) secures the first place on our list of the best new cryptocurrencies for this summer. It serves as the native currency of the decentralized financial software of the same name. The platform comes with Zero Liquidation Risk, setting 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 doesn’t go below a certain point, referred to as ‘Floor Price’. You can buy and sell the Coin via 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 existing cryptocurrency with a Floor Price where all the proceeds contribute to the appreciation of the Coin.
The most prominent of these is the small fee of 0.5% charged on all peer-to-peer (P2P) MFC transactions. It brings down the circulating supply of MFC and, in turn, increases its Floor Price, the absolute lowest price that the Coin can be at. Additionally, the protocol burns the income generated by license fees, exchange fees, and loan interest. This way, transactions on the platform contribute to the appreciation of the Floor Price. Its unique economics ensures that all token holders benefit equally, making My Freedom Coin a true DeFi software owned by users.
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 1000 MFC tokens. You can take out a $1000 loan from the BUSD Treasury at 0.98% interest per month. When repaying your loan, you will always receive the 1000 MFC tokens back that you used as collateral, minus the interest accrued during the term. Let’s say the Floor price has increased to $1.50 six months down the line. When you repay your interest due and receive your collateral back, it is now worth $1500 – meaning you’ve earned an additional $500, minus the interest accrued during the term.
MFC is an invite-only application. You need an invitation code to join the platform. A $50 fee is charged on using/activating the exchange for a month. The use of the app is free otherwise. While $45 is added to the Community Program for Referral Bonuses, $5 is used to create a monthly demand for MFC through BuyBack. The tokens purchased through BuyBack are taken out of circulation which increases the Floor Price. In essence, the $50 fee is completely re-invested into the project.
The protocol rewards the member who invited you to the platform every time you activate the exchange. The multi-level referral program incentivizes users to create exposure for the project. Our readers can join My Freedom Coin using the code ABXNMMXPHN or the QR code below.
What we found best about this cryptocurrency
- Zero Liquidation Risk
- Free to download on iOS and Android
- Totally Unique Economics
- Collateralized Loans for BUSD
- Clean & User-Friendly Interface
2. CRUX
CryptoMines Reborn, or CRUX, is a new cryptocurrency you can use to buy NFTs while playing the identically titled game. The word Reborn refers to the fact that it is the relaunched version of the original game. The original game and its token Eternal were shut down in December 2021, only to come back bigger and stronger. If you love NFT play-to-earn games and want to give CryptoMines Reborn a try, you will have to obtain CRUX to acquire the basic NFTs needed to play.
3. Bitgert
Bitgert is one of the crypto projects with the fastest growth lately. Also known as BRISE, it runs on the Bitgert chain, with 100,000 transactions processed per second and near-zero gas transaction fees. It boasts the lowest gas fee and the fastest blockchain globally, making BRISE stand apart from the competition. Bigert is considered one of the safest crypto investments at the moment of writing, with its price expected to skyrocket due to high demand. So, if you consider investing in Bitgert, you should do it as soon as possible. July seems like a perfectly reasonable time to stack your wallet with some BRISE.
4. King Cardano
If you want to make a passive income while holding crypto, King Cardano (KADA) might be one of the best options this year. It is the first auto-claim ADA token you can hold and get rewarded whenever you make an ADA transaction. Rewards are granted automatically, and the longer you hold KADA, the higher the rewards. Another reason why you should consider investing in KADA is that its price increases on every transaction, with 3% of each transaction bought back and burned.
5. Kasta
Kasta is a blockchain-based payment system that serves as an alternative to mainstream mobile payment services. It enables users to send crypto instantly by scanning QR codes and offers a native token of the same name. By investing in Kasta, you can take advantage of various apps and incentives within its ecosystem, including reduced exchange fees, higher yield rates, cashback bonuses, and limited design debit cards.
6. LBlock
While blockchain technology has already changed the online gaming industry by introducing provably fair games, LuckyBlock (LBlock) is created to revolutionize it. It is the native token of the LuckyBlock platform, operating on Binance Smart Chain and using blockchain protocols. In addition, it offers crypto games and competitions where players can earn rewards. LBlock is the fastest crypto to hit the $1 billion market cap, with more than 50,000 investors within the first 90 days of its launch. As an LBlock holder, you can win rewards from every jackpot and make transactions with no fees.
7. X2Y2
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 airdropped 120 million native tokens. By doing so, the new marketplace tried to incentivize OpenSea users to sign up with them. It resulted in X2Y2’s price soaring by more than 200% in two days. Some of the incentives X2Y2 users can benefit from include zero transaction fees and all gas fees returned. 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 you should consider are the concept, the team behind it, and its launch date.
When it comes to the concept, you should go for virtual currencies capable of becoming useful. Some of them are created to solve issues that have been present since the dawn of the crypto industry, while others offer features that can save you time or enable you to make cost-effective transactions. So, a viable concept that can make a difference is what you should look for.
One thing you should not overlook when choosing new coins to grab is who is behind the project. The most famous cryptocurrency, Bitcoin, was officially founded by Satoshi Nakamoto. However, the true identity of an individual or team behind it has never been confirmed. It is just one of the examples of anonymous groups running crypto projects. On the other hand, we have cryptocurrencies launched by fintech experts. So, explore the coin’s history before buying it and choose those built by reputable teams or persons.
Finally, you should be aware of its launch date. Some of those who obtained Bitcoin in the early days are billionaires today. While not many cryptocurrencies can reach the Bitcoin value, being an early adopter has advantages. At least, you can invest in cryptocurrency at probably the lowest possible price.
Closing Thoughts
With new cryptocurrencies emerging by the hour, we strive to keep you updated on each facet of the newly launched tokens. It is best to make an informed decision about which tokens to consider in your investment plans. Furthermore, we want to introduce you to new concepts, ensuring you are ready to act once they hit the market.
This month, we recommend to you My Freedom Coin — the world’s only crashproof asset. The platform’s unique economics ensures that the value of the token never goes below its Floor Price. It is built to weather market volatilities as each MFC is backed by BUSD tokens in the protocol treasury. Moreover, all activities on the platform contribute to appreciating the value of the Coin, rewarding token holders lucratively over time.
