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Best DeFi Coins to Buy – Top 16 List

With new decentralized finance projects creating the latest buzz in cryptocurrency circles, we rank and review the best DeFi coins to buy now as a potentially good investment for 2022.
top DeFi crypto for high profits
top DeFi crypto for high profits

The basic meaning of DeFi, which stands for decentralized finance, can be summarized as taking traditional centralized financial institutions – such as banks, brokers, lenders, insurance companies – out of the equation, and having no intermediary between the customer and the DeFi project or platform.

Since fiat currency is also not relied upon – as it’s tied to third party central banks and governments – DeFi platforms use cryptocurrency. The value of many of those DeFi related crypto coins has risen exponentially – the total value locked (TVL) in the DeFi market increased from $2 billion at the start of 2020 to over $100 billion at the end of 2021.

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    Best DeFi Coins to Buy in November 2022

    1. Dash 2 Trade: Ideal analytics platform
    2. IMPT.io: Most Popular Eco-Friendly Project
    3. CalvariaBlockchain-based NFT card game with Defi Utilities
    4. Tamadoge: The Best Overall DeFi Coin of 2022
    5. Battle InfinityA Metaverse Crypto of 2022 with DeFi Utilities
    6. DeFi Coin: One of the Leading DeFi cryptos of 2022
    7. Lucky Block – An NFT Competition Platform with DeFi Utilities
    8. Maker – Decentralized Crypto Lending Platform
    9. Curve – DEX Liquidity Pool
    10. Aave – Decentralized Liquidity and Lending Protocol
    11. Uniswap – Decentralized Exchange Token
    12. Compound – Decentralized Money Market Protocol
    13. SushiSwap – Best DeFi Coin in 2020
    14. DYDX – Best DeFi Coin in 2021
    15. Synthetix – Decentralized Derivatives Trading
    16. Loopring – Layer 2 DeFi scaling solution

    Best Place to Buy DeFi Coins

    As well as being an FCA regulated platform to buy DeFi coins and other cryptos like Bitcoin and Ethereum, eToro is also a social trading site where you can get opinions on the best DeFi coins to buy from other investors, and copytrade the buys and sells or DeFi portfolio allocation of professionals investing in DeFi.

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    What are DeFi Coins?

    The term DeFi coins usually refers to coins that perform one or two specific functions on a particular DeFi project – compared to investing in e.g. Ethereum, Cardano, Polkadot or Solana which are thought of more as the umbrella cryptos that DeFi projects and DeFi apps run on, rather than DeFi coins themselves per se.

    Best DeFi Coins to Invest in – Top 16 List

    There are over 500 DeFi coins listed on Coinmarketcap and Coingecko, new and old, our analysts attempted to answer what are the best DeFi coins to buy now in November 2022.

    1. Dash 2 Trade: Ideal Analytics Platform

    Before even getting started with a domain as volatile as Defi, it is important to be equipped with the right tool. Dash 2 Trade is one of the best blockchain analytics platfroms in the space currently. It is created by the company “Learn 2 Trade” which has an existing community of more than 60,000 members. The project has already managed to position itself as a platfrom for the retail investors.

    Features of the platfrom currently include trading signals, news of presale launches, Social Sentiment and On-chain analysis and much more. The developers have stated that they will be continuously working on the project to integrate even more features that would make it a truly valuable ecosystem in the Defi world.

    Dash 2 Trade’s native token D2T is currently available on its presale and is worth $0.05. However this price is set to increase as the next phase starts. Considering the surge in demand that is being seen on the platfrom, it is highly likely that D2T will be sold out before the pre-determined end date for the presale.

    Visit Dash 2 Trade

    2. IMPT.io: Most Popular Eco-Friendly Project

    Since we covered a major tool above that can aid people in navigating the defi world a bit better, let us look at a project that could help the blockchain become a little more greener. IMPT.io is an ambitious project led by Denis Creighton and a team of tech professionals. Announced in 2022 itself, IMPT.io is an excellent example of integrating a current requirement with real utility. The project is an attempt at helping the environment and empowering the blockchain sector at the same time.

    IMPT DAO

    IMPT.io can be called an online shopping portal, where users will be able to purchase items for IMPT tokens. Using the same tokens, investors can buy sell or trade carbon credits. They also have the option to retire their carbon credits so as to compensate for the emission caused by them. On retiring one’s carbon credits, users are rewarded an NFT from top artists around the world.

    IMPT.io is currently partnered with several major companies and has affiliation with more than 10,000 brands who have agreed to participate in the project in the upcoming months. It things do move as per the roadmap and developers keep building like they have been currently, then it wouldn’t be surprising to see IMPT token become a top gainer in the future.

    Visit IMPT

    3. Calvaria: Blockchain-based NFT card game with Defi Utilities

    Launched recently, Calvaria is a blockchain based NFT cardgame that features mythical character and an interesting backstory. The game is officially called Calvaria- Duels of Eternity and is a new entrant to the defi space. The P2E battlecard game has already amassed a huge community and is predicted to launch in the upcoming months. The game is divided into three major locations across the “Calvaria Universe”. These three major locations are Arcilla Vivina, Maquilia and The void. All character cards are creating adhering to the themes of the locations within the universe.

    Calvaria’s RIA token is currently on presale and has successfully driven up demand due to its high fundamentals and elegant game experience teaser. Several member of the Calvaria community expect RIA token to increase in value as the game gets launched.

    Visit Calvaria

    4. Tamadoge: Overall, the best DeFi Coin of 2022

    Tamadoge is a Play2Earn ecosystem that allows players to earn crypto through skill-based gameplay. Like DeFi enables users to earn crypto without centralized bodies, Tamadoge allows players to earn rewards without intermediaries.

    Buy Tamadoge

    To participate in the game, users need to buy Tamadoge Pets, NFTs that lie at the Heart of Tamadoge. These pets are NFTs that players can own, pet, and raise. After the pets grow up, players can put them to battle in a PvE ecosystem. Winning the battles will reward players with Dogepoints, and the one with the highest number of Dogepoints at the end of the month will be awarded the Tamadoge Tokens.

    What makes this one of the best, if not the DeFi crypto, is its extensive roadmap. The developers are hard at work integrating the Tamadoge Pets with Metaverse Land. The project is currently undergoing its presale, which has been one of the best presales this year.

     Tamadoge has completed its presale phase in just under two months, with this DeFi coin raising 19 million USDT. The DeFi and P2E crypto has partnered with Transak to allow investors to buy TAMA tokens using fiat. Furthermore, Tamadoge is now heading to be listed on OKX. Shortly after the end of the presale, media outlets like CNBC covered Tamadoge, saying that it has the potential to grow by 10x to 50x in 2023.  Users interested in Tamadoge ICO can click the link below. As a bonus, they will also get a mystery box with rewards over $10,000

    Register at OKX for Tamadoge

    5. Battle Infinity: A Leading Metaverse Crypto of 2022 with DeFi Elements

    Battle Infinity is one of the most successful metaverse cryptos released this year. Starting as a presale, Battle Infinity quickly managed to garner a lot of attention and met its presale target 66 days ahead of its time.

    Buy Battle Infinity

    Battle Infinity is a Play2Earn platform consisting of Battle Games, Battle Market, and Battle Arena on the gaming side. But if you are a DeFi enthusiast, Battle Infinity has got you covered with Battle Swap and Battle Staking.

    Battle Swap is a decentralized exchange inside the Battle Infinity ecosystem that allows users to trade IBAT tokens for other cryptos and more. With Battle Staking, players lock their IBAT tokens for a certain period and earn staking rewards that are not limited to the APYs. That is, players can also earn rewards by performing other activities on the platform.

    Buy Battle Infinity on LBank

    Shortly after the end of the presale, Battle Infinity entered as a crypto IDO on PancakeSwap, where it saw an uptick of 446% within a short time. While there was a retrace shortly afterward, the crowd’s excitement about this token didn’t dim. Then in August, LBank became the first centralized exchange to list IBAT tokens.

    Battle Infinity

    At the time of writing, the IBAT price is accumulating in the $0.0040 range. So far, the token has been performing stably, and the potential of huge upsides remain as Battle Swap, and Battle Stake will be the first features launching soon.

    Buy Battle Infinity

    6. DeFi Coin: One of the leading DeFi Coins to buy in 2022

    Another token reigning as one of the best DeFi coins this year is DeFi Coin. DeFi Coin(ticker symbol DEFC) is the native crypto of a decentralized exchange that offers users instant conversions, yield farming, staking, swapping, and other interest-based services. Built on the top of the Binance Smart Chain, DeFi Coin has been in development for many years. However, developers only decided to launch this platform in May of 2022.

    Buy DEFC

    As a result of this launch, the DeFi Coin’s price took off by 300%, making it one of the most successful DeFi cryptos to be launched. With DEFC, the native crypto of the DeFi Coin ecosystem, users have access to many use cases, including RF static rewards. 

    One of the most notable features of this token is the Automatic LP. For every buy or sell order done on the DeFi Network, there is a 10% tax which is then split between the token holders and the DeFi liquidity pool. According to the official website, this approach aims to reward long-term holders and financially penalize short-term day traders. 

    DeFi Coin Price

    The team behind DeFi, in a bid to prove that it is not another rug-pull, decided to burn all of their DEFC tokens at launch. That move quickly grabbed the attention of Twitter crypto and some centralized exchanges. Now the token is available to buy on Bitmart. For everyone else, PancakeSwap and the in-house DeFi Swap is also an option.

    Another reason to be bullish about DEFC is the robust roadmap. According to the whitepaper, everything from technical analysis features to an NFT marketplace is in the cards for this platform. And from what we have seen by following the development of this platform, we believe that those milestones will come to pass. 

    Buy DeFi Coin

    7. Lucky Block: an NFT competition crypto with DeFi utilities

    Lucky Block is an NFT competition platform that gives LBLOCK a chance to take home big prizes. It is one of the fairest crypto competition platforms with completely randomized odds of winning – giving every participant a fair chance.

    Buy Lucky Block

    Built on top of Binance Smart Chain, Lucky Block is an inclusive Competition platform introduced at the beginning of this year. Soon afterward, the Lucky Block V1 was launched as a DeFi crypto on PancakeSwap and quickly became the fastest token to reach a $1 billion market capitalization.

    After being valued at $0.00015 during the initial phase of the presale campaign, LBLOCK was able to hit +6000% gains within a month of being available to the public.

    Lucky Block

    Recently, the devs launched Lucky Block V2, the ERC -20 version of the original crypto, so that it can be traded on more centralized exchanges. The new version also removed the need for a 12% transaction fee. Soon afterward, LBank and MEXC picked it up, and the token’s price rose by 400% after its MEXC listing.

    Lucky Block V2 Price

    Gate.io is another centralized cryptocurrency exchange listed Lucky Block V2 on 1st September 2022. However, Gate.io failed to verify the market makers before listing – setting LBLOCK’s price lower than it was trading for – leading to a slight price drop.

    While it did damage the token’s overall value, it also created buying opportunities for eager investors. Experts are saying that LBLOCK might soon reach higher highs.

    Another bullish development about LBLOCK is the upcoming Lucky Block ETH Bridge. It will connect the V2 and V1 versions of the token – allowing users to exchange the cryptos to trade or take part in the NFT competition’s platform.

    Buy LBLOCK

    8. Maker – Decentralized Lending Platform

    DeFi coin Maker (MKR) is a decentralised ERC-20 token produced on the Ethereum platform by the project MakerDAO, which is a decentralized landing platform (DAO stands for decentralized autonomous organisation) that corrects issues with the traditional financial sector.

    MakerDAO makes it possible to lend and borrow cryptocurrency without credit checks – decentralized lending is a major part of DeFi, which aims to provide viable alternatives to the traditional financial services that most of the general public uses today.

    Anyone can use MakerDAO to open a vault, lock in crypto collateral, and generate a stablecoin DAI as debt against it. Users can borrow DAI worth up to 66% of their collateral. DAI is pegged to the value of the US dollar like Tether.

    MKR price

    MKR DeFi coin price chart

    MakerDAO was founded in 2014 by CEO Rune Christensen, a US cryptocurrency entrepeneur based in California. Holders of Maker’s native token MKR have a say in the future and operation of the decentralized credit platform, voting on risk parameters.

    MKR was the first tradeable DeFi token on the Ethereum network and a 10x altcoin in 2021, going on a bull run from $600 to $6000. The MKR price has since corrected back to historical support, so could be a good investment in 2022 before its next bull run – altcoins tend to have several bull cycles, e.g. the LRC price graph below.

    DeFi Pulse, which has a list of the best DeFi coins and invites DeFi project developers to add to ‘the DeFi List’ on its website, ranks Maker #1 in terms of the TVL (total value locked) in USD on the platform, currently over $7.83 billion.

    The DeFi Reddit for MKR – the r/MakerDao subreddit – has over 33,000 subscribers.

    Buy MKR

    Your capital is at risk.

    9. Curve – DEX Liquidity Pool

    Curve Finance’s native token CRV is one of the best new DeFi coins – the project launched in 2020 but already has the second highest TVL of any DeFi project, currently over $10 billion with similar investor interest to MKR.

    Defipulse.com categorizes DeFi projects and their related DeFi coins into five categories – lending, payments, assets, derivatives, and DEXes (decentralized exchanges). Curve Finance is the DEXes category – it is a decentralized liquidity pool on the Ethereum blockchain that allows for stablecoin trading with low slippage.

    Curve Price

    CRV DeFi coin price chart

    The Curve DAO token (CRV) is popular with investors as it can be staked to earn fees on Curve.fi – staking has become one of the largest emerging sectors in cryptocurrency, and the APY outperforms most high street bank savings accounts and investment funds. Crypto staking rewards in a sense are a decentralized form of passive income, with a better ROI than earning interest on fiat money and no need to rely on a bank.

    CRV also appears to be in an accumulation cycle. DeFi investors are optimistic that it has a bull run in its future which will see it retest the double digit levels. CRV is closely related to another of the best DeFi coins, Convex Finance (CVX) which allows stakers to earn trading fees without locking CRV.

    Buy CRV

    Your capital is at risk.

    10. Aave – Decentralized Liquidity and Lending Protocol

    Like Maker, Aave is also related to the lending sector of decentralized finance, and rated among the top 3 – 4 DeFi coins in terms of TVL, currently over $4.92 billion.

    The Aave DeFi protocol is an open-source, non-custodial liquidity protocol not tied to any centralized financial institution on which users can borrow and supply crypto assets, earning yield on any they supply. Users can take out crypto loans – known as Flash Loans in DeFi – based on the amount of collateral they put up.

    Holders of its native token of the same name – with the ticker in capital letters, AAVE – form part of Aave Governance and vote on the future direction of the Aave DeFi project, changes and upgrades.

    Since its ICO in 2017 which started with $16 million in funding, AAVE today has a market capitalization of over $1.6 billion according to CoinMarketcap.com, and is the 55th largest crypto asset by market cap.

    Aave Price

    AAVE DeFi coin price chart

    Since its ICO in 2017 which started with $16 million in funding, AAVE today has a market capitalization of over $1.6 billion according to CoinMarketcap.com, and is the 55th largest crypto asset by market cap.

    Bitcoin, Ethereum, Binance Coin (BNB), Cardano (ADA), Ripple (XRP), Solana, Polkadot and various stablecoins (USDT, USDC, BUSD) and meme coins (Dogecoin, Shiba Inu) have higher marketcaps than Aave although aren’t thought of as DeFi coins.

    In terms of DeFi coins and decentralized applications (Dapps) that disrupt business models, Aave is one of the larger more established projects and one of the best DeFi coins on Coinbase. Click ‘DeFi’ in the menu on Coinmarketcap to filter for the best DeFi coins.

    AAVE has been in a bear market for the last 12 months, so some investors that like ‘buy the dip’ with a ‘buy low, sell high’ strategy see it as one of the best DeFi coins in 2022 – once the selling pressure is gone and its market structure turns bullish it could have a strong impulse move to the upside.

    The DeFi Reddit for Aave, r/Aave_Official, has over 15,000 subscribers.

    Buy AAVE

    Your capital is at risk.

    11. Uniswap – Decentralized exchange token

    Similar to Pancakeswap DEX, Uniswap is a decentralized exchange and its native governance token is UNI. Uniswap exchange allows users to trade cryptocurrency directly peer to peer (P2P) without intermediaries, the first of its kind in 2018 to use an automated market maker (AMM) and smart contracts instead of order books.

    Any user can swap instantly between ETH and another ERC-20 token, and the whole process takes place on-chain without any fees going to any platform owners, as would happen on a centralized crypto exchange.

    Uniswap

    UNI DeFi coin price chart

    Like AAVE, the UNI coin has been in a bearish downtrend for the last year, currently retesting 2020 support levels where some investors predict it will hold support and bounce. Decentralized finance is not going anywhere – even traditional financial institutions like Goldman Sachs have said DeFi has potential for mass adoption.

    Decentralized exchanges form an important part of DeFi so it makes sense to invest in the native token of a DEX – the native tokens of other crypto exchanges such as BNB (Binance exchange), FTT (FTX exchange), CRO (Crypto.com exchange) and LEO (Bitfinex exchange) have also been good investments – as cryptocurrency grows in popularity, so do the related tokens of crypto exchanges rise in value.

    Uniswap is one of the best DeFi coins to buy in terms of TVL – over $7 billion placing, in the top 5 just behind MKR, CRV, CVX and AAVE. Another online review site of the best DeFi coins, DeFi Llama, ranks it a top 10 DeFi coin.

    The Uniswap Protocol Reddit r/UniSwap has over 61,000 readers.

    Buy UNI

    Your capital is at risk.

    12. Compound – Decentralized Money Market Protocol

    Like Maker and Aave, Compound is another part of the decentralized lending sector and ranked in the ten best DeFi coins by TVL, only 2.47 billion at the time of writing.

    Compound is a decentralized, Ethereum blockchain-based algorithmic money market protocol allowing users to earn compound interest on crypto they lend, and to borrow crypto as a loan against their crypto asset collateral. The protocol supports ETH, DAI, USDC, WBTC, SAI, REP, BAT and ZRX.

    Compound

    UNI DeFi coin price chart

    As you now know from reading this guide to the best DeFi coins, this was not a new idea in the DeFi scene – however its innovative use of algorithms to create liquid money markets and adjust interest rates in real-time, and ability to create large liquidity pools, made it stand out from alternatives and attracted high investor interest, including from Coinbase and Polychain Capital.

    Compound Labs Inc. was founded in 2017 as a startup with $8 million in funding and today has a market capitalization in the top 100 crypto assets, of over $700 million.

    Users of the Compound Protocol are rewarded with its token COMP – earning COMP for borrowing, and repaying loans. Retail investors looking to invest in DeFi might be interested in COMP as its value should increase as the Compound Protocol increases in market dominance, making it potentially one of the best DeFi coins to invest in.

    Buy COMP

    Your capital is at risk.

    13. Sushiswap- Best DeFi Coin of 2020

    SushiSwap was a fork of Uniswap in Sept 2020 and its native coin SUSHI went on a massive bull run, being on the best DeFi coins to invest in during late 2020 – early 2021, rising from under $1 to over $20.

    Having now corrected to $1.11, a similar scale of correction as Bitcoin going down from $20k to $3k before going up, it may be good time to invest in this DeFi coin.

    Like Uniswap and Balancer, Sushiswap is a fully decentralized exchange that uses liquidity pools and an automated market maker, placing assets in smart contracts. No central authority or middleman is needed, only code.

    Sushiswap

    SUSHI DeFi coin price chart

    One issue with SUSHI is that one of the network’s founders, Chef Nomi, sold all his stake in the company, tokens worth $14 million, causing prices to dump.

    SUSHI was at one time called an exit scam and pump and dump / ponzi scheme due to the volatile rise then crash – there’s a saying in crypto ‘scams pump the hardest‘. Although Chef Nomi did later return the funds and control of the Sushiswap project control was passed on to FTX CEO Sam Bankman-Fried.

    It remains to be seen whether under new developers the best DeFi coin of early 2021 will have another bull run and be a popular investment again. Do your own research (DYOR) and only invest what you can afford to lose.

    Buy SUSHI

    Your capital is at risk.

    14. dYdX  – Best DeFi Coin of 2021

    dYdX is a layer-2 (L2) non-custodial DEX trading platform that supports perpetual futures trading, margin trading on leverage, as well as spot trading. It runs on audited smart contracts on Ethereum and combines off-chain order books with an on-chain settlement layer.

    Traders can trade with zero gas costs, low trading fees and low minimum trade sizes. They can go long or short with 25x leverage on BTC-USD, ETH-USD, LINK-USD, UNI-USD, AAVE-USD and other trading pairs.

    DYDX

    DYDX DeFi coin price chart

    The pump in the price of DYDX, its ERC20 governance token, was so fast it doesn’t appear on the CoinGecko price chart above. However if you check the Binance DYDX/USDT trading pair, it opened trading there at $3 in early September 2021 and rose to $27 by the end of the month, almost a 1000% gain (10x).

    Since then it has retraced almost that entire run, revisiting $4, an important lesson to always take profit and not let the market erase your PnL (profit and loss) gains. For investors that are still bullish long-term on DYDX, now could be a good time to invest in what was once one of the best new DeFi coins to buy.

    Since can also be staked within Binance Earn, DYDX is one of the best DeFi coins on Binance.

    Buy DYDX

    Your capital is at risk.

    15. Synthetix – Decentralized Derivatives Trading

    Synthetix is a DEX platform that creates synthetic assets for trading, that it calls synths – derivatives traders can use these to speculate on the price direction of commodities (e.g. Gold, Silver, Oil), stocks, indices, fiat currencies (e.g. USD, EUR, GBP) and cryptocurrencies without having to own those underlying assets physically.

    Users can mint their own synths on platforms like Mintr by locking in collateral in the form of ETH or the native token of the Synthetix platform, SNX. They can then earn revenue from the transaction fees – when synths are traded, fees go to Synth minters and SNX holders, as an incentive to use the platform to create synths, and to hold SNX.

    Synthetix

    SNX DeFi coin price chart

    Synthetix was governed at first by a non-profit foundation, which was replaced in 2020 by three decentralized autonomous organizations (DAOs). SNX holders use these DAOs to vote on protocol changes and make decisions about the protocol’s future.

    While the SNX price action has been bearish for the past year, it appears to have dropped below its support of $3 and has released fundamental updates to its roadmap including the Peacock upgrade which fixed the FeePool rewards distribution, and has announced a partnership with Gauntlet for automated derivatives risk management, and several other companies. Upgrades and partnerships are usually a good time in invest in altcoins.

    Buy SNX

    Your capital is at risk.

    16. Loopring – Layer 2 DeFi scaling solution

    The Loopring protocol allows developers to build their own DEX (decentralized exchange), and creates an interconnected system of trading platforms for traders to access from one dashboard. Loopring users deposit their assets on-chain into a zkRollup smart contract. Zk-rollups are a Layer 2 (L2) scaling solution that allows blockchains to validate transactions quickly while maintaining cheap gas fees.

    Loopring’s native token LRC, launched in 2017, is a deflationary utility token fuelling operations on the protocol, including voting, staking, liquidity and an insurance fund. Tokens that are deflationary are usually a good investment as their deflation refers to them being ‘burnt’ and the supply decreasing – which by the laws of supply and demand should mean demand increases.

    In the case of LRC, the protocol burns LRC tokens and removes them permanently from circulation, helping them to hold their value and become scarce – although the total supply of LRC did begin at a high amount, 1.37 billion. Currently its circulating supply has been reduced to 1.2 billion over the year – we’d rate it higher on our ranking of the best DeFi coins to invest in if the rate of burning was faster.

    Loopring

    LRC DeFi coin price chart

    The LRC chart has had two rapid bull cycles in its price history, with a multi-year bear market in between them. This common price action (PA) in crypto markets is why we recommended DeFi projects on this list that are currently at low prices, haven’t yet had a bull cycle, or have only had one. For example CRV hasn’t seen a pump like this, and LBLOCK is still currently in price discovery being so new.

    Jan 2018 was when Bitcoin began its crash from $20k, slowly dumping to $3k so it makes sense that LRC didn’t go up around that time – however the fact is set a new ATH recently indicates renewed investor interest in the project. Loopring has stood the test of time and been audited by the Least Authority, whose audit reports are publicly available on Github.

    The LRC price now appears to have found support at around $0.75 so a return to ATH would be a 400% gain from its current price point.

    Buy LRC

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    How we Ranked the Top 10 DeFi Coins

    Our top list of the best DeFi coins draws from a range of metrics for investors looking to diversify their portfolio:

    Use Cases

    Our list of best DeFi coins includes those related to range of decentralized finance sectors and aspects including lending, DEXes, assets, derivatives, scalability, and unique standalone projects like decentralized lotteries.

    As DeFi continues to grow in 2022 all coins should rise in value in a DeFi bull market but its reduces variance to hedge your bets and invest in DeFi coins with a range of use cases and applications – don’t go ‘all in’ on one coin you see as a ‘hidden gem’ or get married to your bags – set a stoploss on every position.

    DeFi Applications

    In this guide we mostly focused on specifically DeFi related coins that form part of DeFi protocols. In a loose sense however, all cryptos including the oldest, Bitcoin, fall under the umbrella of decentralized finance as they are an alternative to centralized finance, i.e. fiat currency, central banks, the Federal Reserve, fractional reserve banking, and governments.

    Some other online lists of the best DeFi coins to buy include tokens like MANA, which allows you to invest in the Decentraland MetaVerse and buy NFTs (non-fungible tokens).

    NFTs are a separate emerging asset class alongside crypto and DeFi but also relate to decentralization, in the sense of digitalizing ownership of assets and preventing fraud. MetaVerse coins like MANA can be thought of as decentralizing gaming, as the MetaVerse is a virtual reality world.

    Potential for Growth

    None of these DeFi coins listed have yet broken into the top 20 crypto assets in terms of market cap – Uniswap is closest, ranked #25 on Coinmarketcap – so they have potential to grow and ‘flip’ assets above it in marketcap – especially meme tokens with little use case other than speculation such as DOGE and SHIB, both in the top 15.

    LBLOCK is currently ranked #2945 – having the most growth potential is one of the reasons we considered it among the best new DeFi coins.

    Past Performance

    All of the best DeFi coins we reviewed have delivered a high return on investment (ROI) in the past, and are now currently trading at a discount. Some were not only the best DeFi coins but also the best crypto coins to buy for high gains at one point, i.e. SUSHI, DYDX and LBLOCK in 2020, 2021 and 2022.

    Past performance isn’t always an indication of future results, but if several of these are in your portfolio and some do revisit their previous ATH in the next bull run and enter price discovery, you’d have made a profitable investment.

    Passive Income

    Many of the DeFi coins we reviewed can generate passive income while holding them, another way to earn returns even during periods of time when the value of the underlying asset doesn’t go up.

    For example CRV can be staked for high yield and LBLOCK holders receive part of the daily lottery jackpot, relative to the number of tokens they hold. To learn more about how to earn interest on crypto, see our guide to the best crypto savings accounts.

    Cheap Cost

    Many DeFi coins and other cryptos today are at low prices now due to macro factors such as a selloff in stocks, the Ukraine-Russia crisis, fears of a recession and the FED hiking interest rates.

    While it is very hard to time the exact bottom of a market, dollar cost averaging (DCA) into the best DeFi coins to buy now should pay off as a long-term investment once the markets are bottomed out and a new crypto bull run starts – potentially in the run up to the 2024 Bitcoin halving.

    Our list of the best DeFi coins includes some of the best cheap DeFi coins. LBLOCK for example is currently priced under 1 cent per coin, and LRC is one of the best DeFi coins under $1. Low priced tokens are often some of the best long term DeFi coins worth investing in.

    Buy DeFi Coins Now

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    DeFi Crypto Marketcap

    Despite the selloff and correction in Q1 2022, the overall DeFi market structure is in a bullish uptrend, and institutional investors such as Goldman Sachs that were once skeptical on crypto and DeFi coins have acknowledged their use case and potential for adoption.

    DeFi Market Cap

    Total DeFi market cap – via Tradingview

    Update – the sell off continued partly due to Terra (LUNA) crashing to under $2. See our DeFi market cap prediction page for updated charts – the current 2022 low is $62.5 billion.

    Are DeFi Coins a Good Investment?

    Cryptocurrency news site Blockworks which also holds the Digital Asset Summit Conference – for institutions looking to invest in crypto or DeFi projects – published excerpts from a Goldman Sachs market report, stating:

    “The narrative around DeFi has shifted from whether or not these decentralized products can work to how they can continue to grow and scale. Additional structural differences and advantages to DeFi include unique products, faster pace of innovation, higher transparency, more efficiency and lower cost cross-border payments.

    The innovations in DeFi show potential for adoption and disruption in existing financial systems. They also demonstrate a compelling use case for blockchains and cryptocurrency technology that should help support market valuations for these assets over time.

    DeFi is easier to access for underbanked populations and provides faster settlements for users. Its growth likely is a product of yield and speculative activity likely also plays a role – but user adoption may also relate to longer-running trends including digitalization, globalization, and declining trust in centralized institutions.

    Many individual billionaires and celebrities such as Jack Dorsey and Mark Cuban are also buying DeFi coins.

    Early Bitcoin investor and billionaire CEO of Galaxy Digital, Mike Novogratz, has called crypto ‘the next internet’ and tied DeFi to Web 3.0, which seeks to incorporate decentralization, increased scalability and and token-based economics into the world wide web. The term Web 3.0 was coined in 2014 by Ethereum co-founder Gavin Wood.

    Risks of Buying DeFi Coins

    Often performing a single function on one DeFi app or project, DeFi coins usually have a low market cap, so price fluctuations will be volatile as the price is easily moved by buyers. Pumps will go much higher, and then are more likely to fully retrace as they didn’t build any support on the way up.

    When you buy DeFi coins it’s more important to monitor the market closely, set take profit limit orders and stoplosses. To best manage risk/reward, it’s also important to not sell too early when the next crypto bull run does come – scale into and out of your positions slowly.

    In May 2022 the entire DeFi market cap was dragged down alongside the rest of the crypto markets when one DeFi coin, Terra (LUNA) dropped from $90 to under $2 in the space of 48 hours – diversify your DeFi portfolio by investing in a range of different DeFi projects. Don’t put all your eggs in one basket.

    Where to Buy DeFi Coins

    FCA regulated crypto platform eToro has listed most of the best DeFi coins on the above list for purchase and trading as of 2022.

    How to Buy DeFi Coins

    DeFi portfolio on eToro

    It also offers the optional choice to invest in their bespoke DeFi Portfolio which contains for example approximately 10% MKR, 10% COMP, 10% UNI, and 10% AAVE which we reviewed above, alongside other DeFi coins. Its returns in the last 12 months were 39%.

    It also contains LINK, ALGO, MANA, BAT, and YFI – (Yearn.Finance) although there is some FUD in March 2022 about a developer leaving the YFI project. eToro continually adjusts its copy portfolios.

    How to buy DeFi Coins Step by Step

    • Visit the official eToro.com website and click ‘Get started’ or ‘Sign up’.
    • Enter an email address, username and password or sign up with Facebook / Google Plus
    • Verify your identity with the required KYC (know your customer) documents, including a scanned copy of your government-issued ID
    • Deposit funds by bank transfer, debit or credit card, Paypal, e-wallet or other methods
    • Search the name of a DeFi project or ticker of a DeFi coin in the top menu bar

    Where to buy DeFi coins

    Curve (CRV) is listed on eToro

    • Click ‘Trade’, enter an amount of the DeFi coin to buy, then confirm the order by clicking ‘Open Trade’
    • In the case of LBLOCK, visit the LuckyBlock.com website for instructions on how to buy DeFi coins on Pancakeswap DEX using BNB and a DeFi Wallet

    Pancakeswap is itself one of the best DeFi projects – the largest DEX in the Binance Smart chain ecosystem, with DeFi farms (support for yield farming, aka liquidity mining).

    Where to Trade DeFi Coins

    If you want to margin trade DeFi coins on leverage, many of the best DeFi coins have perpetual futures tradings pairs on cryptocurrency exchanges such as:

    Conclusion

    We reviewed a mixture of brand new DeFi projects in 2022 like Lucky Block, fairly new DeFi coins launched around 2020 – 2021 like CRV, and long-established DeFi coins that survived the 2018 bear market and attracted new investor interest after that, like MKR.

    Some are the best small cap DeFi coins, others are large cap DeFi coins like UNI. Some are the best DeFi coins to stake and earn passive income on while holding. Some were the best performing DeFi coins in previous crypto history – e.g. SUSHI and DYDX. All have an active online presence on DeFi Reddit and social media channels.

    With the exception of Lucky Block which is so new it’s currently only available on Pancakeswap DEX and one centralized exchange, LBank, the other best DeFi coins to buy on our list are all now available at eToro, a regulated crypto platform with over 20 million users.

    As a social trading platform, all eToro users have a Facebook style news feed and wall they can post their thoughts on the market to, and use to network with others investing in DeFi. Find out what the rest of the market consider the best DeFi coins to invest in, and also copytrade professional traders – buy when they buy, sell when they sell, to automate your decisions and compound your DeFi investments.

    Alternatively mimic a Smart Portfolio – one of the most copied portfolios on eToro is their DeFi Portfolio, which includes several of the DeFi coins on our list alongside others, and helps to ensure you balance your portfolio at the right times as it is adjusted based on market movements, technical analysis (TA), and fundamental analysis (FA).

    As most of the best DeFi coins run on Ethereum, you may also want to buy ETH as part of your portfolio – eToro supports ETH 2.0 staking, so another advantage of the platform is you can stake ETH to earn an annual yield.

    eToro - Our Recommended DeFi Platform

    Our Rating

    eToro
    • ASIC, CySEC and FCA regulated - 20 Million Users Worldwide
    • Free Wallet - Store 120+ Cryptos and DeFi Coins
    • Unlosable Private Key - Free Recovery Service
    • Cardano and Ethereum Staking Rewards
    • Copytrade Winning DeFi Investors - Build a DeFi portfolio
    eToro
    68% of retail investor accounts lose money when trading CFDs with this provider.

    FAQs

    Is Bitcoin a DeFi coin?

    In a loose sense of decentralizing transactions, Bitcoin, the first cryptocurrency, could be regarded as beginning decentralized finance. However 'DeFi coins' usually refers to coins and tokens that specifically power DeFi projects and protocols, to decentralize all aspects of the financial system beyond just digital currency transactions as a means of exchange.

    Is Ethereum a DeFi coin?

    Most DeFi projects run on the Ethereum blockchain - initially the Ethereum dominance in DeFi was 100%, which has since lowered somewhat to 70%, with Solana (SOL), Cardano (ADA) and Polkadot (DOT) taking some of the DeFi market share. The term DeFi coins however usually refers to the secondary layer of smaller coins that perform functions within DeFi projects. It could be said that investing in ETH is similar to investing in DeFi as whole as it does form such a large part of the DeFi space.

    What are the best DeFi coins to buy right now?

    We reviewed ten of the best DeFi coins to invest in for 2022 in the guide above, however market conditions can change fast so always exercise caution and keep a diverse portfolio - holding some funds in Bitcoin and Ethereum can protect your capital from variance in the form of rug pulls, abandoned projects and other types of scams.

    What are the best DeFi projects?

    See our 'How to Invest in DeFi' guide linked in the menu for a more general overview of the best DeFi projects and investments, rather than specific DeFi coins to buy now.

    Are DeFi coins a good investment in 2022?

    Given the DeFi market place has experienced an approximately 50% correction, that has historically been a good time in invest in bull markets - assuming the bull market that began in 2021 is not over.

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    eToro - Best DeFi Platform

    eToro - Best DeFi Platform

    eToro - Best DeFi Platform

    Buy DeFi Coins

    68% of retail CFD accounts lose money.

    eToro - Best DeFi Platform
    Buy DeFi Coins

    68% of retail CFD accounts lose money.

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