3 Best Cryptocurrencies Redditors Are Buying

In this article, we discuss 3 best cryptocurrencies Redditors are buying. Surprisingly, neither Ethereum nor Ethereum Classic made our list. If you want to see more cryptocurrencies in this selection, check out 7 Best Cryptocurrencies Redditors Are Buying. 

3. Cardano 

Cardano is a proof-of-stake blockchain platform that aims to bring about positive global change. It is an open-source project that was launched in 2017. The native ADA token is designed so that users can participate and carry out transactions on the Cardano network. Those who own ADA tokens can vote for proposed changes to the underlying software. In 2020, Cardano underwent a Shelley upgrade to make its blockchain “50 to 100 times more decentralized” as compared to alternative blockchains. Cardano was founded by Charles Hoskinson, one of the co-founders of Ethereum. 

Apple Inc. (NASDAQ:AAPL) is one of the American technology giants that are backing the development of the cryptocurrency space, by allowing Apple Pay to purchase cryptocurrencies and supporting blockchain technology via strategic investments. Among the hedge funds tracked by Insider Monkey, Warren Buffett’s Berkshire Hathaway is the biggest stakeholder of the company, with approximately 895 million shares worth $122.3 billion. Overall, 128 funds were bullish on Apple Inc. (NASDAQ:AAPL) at the end of June, compared to 131 funds in the prior quarter. 

Here is what Alger Capital specifically said about Apple Inc. (NASDAQ:AAPL) in its second quarter investor letter:

“Apple Inc. (NASDAQ:AAPL) is a leading technology provider in telecommunications. computing and services. Apple’s iOS operating system is the company’s unique intellectual property and competitive strength. This software drives extremely tight engagement with consumers and enterprises. The engagement is fostering the growing purchase of high-margin services like music, apps, and apple pay. Apple’s shares detracted from performance as management lowered its guidance for the second quarter due to headwinds from the war in Ukraine, adverse foreign currency shifts, and dampened consumer demand associated with the coronavirus in China. Additionally, many investors were concerned that lockdowns implemented to curtail the spread of COVID-19 would impact production of apple products, however the manufacturing facilities have resumed activity.”