Utility tokens are increasingly popular among the trading community. These are tokens created to power a particular Defi project and used for a certain purpose within a Defi ecosystem. Ethereum’s ETH is one of the most popular and valuable ERC20-token-based utility coins that is used to pay for gas fees when using smart contracts on Ethereum’s blockchain. Multiple types of utility tokens have been used up to now in 2022 for very diverse purposes. Best Utility Tokens to Buy in June 2022 Lucky Block (LBLOCK) – Best Play to Earn Utility Token to Buy in 2022 DeFi Swap (DEFC) – Best Utility Token for a Decentralised Exchange Platform Decentraland (MANA) – Best Utility Token for an NFT-based Virtual World ApeCoin (APE) – Best Utility Token for Decentralised Gaming Binance Coin (BNB) – Utility Token Serving the Leading Crypto Exchange Binance Polygon (MATIC) – Utility Token with a High Market Capitalisation Chainlink (LINK) – Widely Traded Utility Token for Blockchain Technology Enjin (ENJ) – Best Utility Token for the NFT Gaming Industry Best Exchange to Buy Utility Coins Utility coins are listed on crypto exchanges and brokerage platforms that support crypto trading. Hence, to buy a utility coin, you need to register for an account with your chosen platform and fund your exchange wallet to be able to buy cryptocurrency. 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Our research indicates that eToro.com is the best platform to buy utility tokens and supports most of the tokens that are widely traded. Top Utility Coins to Buy Now – Full List In this section, we will introduce to you the best utility coins to buy in 2022 and give a detailed review of every token separately. Lucky Block – Overall Best Utility Token to Buy in 2022 Lucky Block is a decentralized crypto games and competitions platform aiming to revolutionize the gaming industry. Founded in January 2022, the project has already become quite popular within the Defi community due to its marketing campaigns including sponsoring Florian Marku. In its white paper, Lucky Block emphasizes four phases of development that it should undergo and the project is in the middle of accomplishing the second stage right now. In the 3rd phase, it will officially launch the crypto jackpot platform and put more stress on fundraising and project improvement during the 4th stage. The core idea of Lucky Block is to create a global crypto games platform that will be more transparent and player-friendly. Additionally, it considers that the sweepstakes and jackpots should not have geographical boundaries and envisions a worldwide way for ‘everyone to be a winner’ by leveraging blockchain technology. Its platform is hosted on the Binance Smart Chain. Lucky Block offers a more efficient gaming experience for the user compared to traditional lotteries. First of all, players have more odds to win in the game, larger payouts are offered and more drawings of the prizes are available. Plus, the blockchain is transparent so everyone can check the transactions registered on it which means it reduces the possibility of false transactions. Lucky Block’s utility token is called LBLOCK and has a maximum supply of 100,000,000,000 coins. The token can be used as a means of speculation and to pay for fees on the Lucky Block’s platform. Another utility is that 10% of each prize pool will be distributed among LBLOCK holders. 70% will go to the winner, and 10% will be granted to the team to improve the platform and marketing. The other 10% will go to the charity. In that way it has play to earn utility – holders also receive a free ticket to each draw when they hold over $500 of the native token LBLOCK, or lifetime free draws to separate NFT jackpots when buying and holding one of their NFT collection. Lucky Block Telegram Buy on Pancakeswap Buy on LBank.info Buy with Fiat Visit LBlock Website Your capital is at risk. DeFi Coin (DEFC) – Best Utility Token for Decentralised Exchange Platform DeFi Coin was designed to fuel the DeFi Swap decentralized project which represents a DEX where you can swap between various crypto assets. The advantage of decentralized exchanges over the traditional ones is that they are not governed or regulated by a single party. Instead, they rely on blockchain technology and apply automated market maker protocols to manage the whole process. Decentralized exchanges are becoming more and more popular in the industry and Defi Swap is one of such exchanges. On DeFi Swap’s platform, you can not only exchange digital currencies but also use your coins to generate interest through yield farming and liquidity pools – up to 75% APY. The Defi Swap blockchain relies on the Binance Smart Chain and the project issues DEFC tokens to fuel the ecosystem. DEFC is more intended to attract long-term investments and it charges a 10% fee every time you trade the cryptocurrency. It does so to keep away market speculators who buy coins for short-term purposes and increase the number of long-term investments. Additionally, it distributes half of the money charged from the transaction fees to DEFC holders. It means that the more tokens you have, the more rewards you will get from the transaction fees Buy on Pancakeswap Buy on Bitmart Buy on DeFi Swap Visit DEFC Website Your capital is at risk. Decentraland – Best Utility Token for NFT-based Virtual World Another excellent utility token to invest in 2022 is Decentraland which is considered one of the most successful DeFi projects and is included among the 50 largest crypto assets with its market capitalization. Decentraland is a 3D virtual world where you can buy parcels of LAND, purchase avatars, develop them and later sell your LAND or avatar in the market. And all this is possible to do holding its native token – MANA which is traded at $0.954 at the time of writing. You hold the ownership of your avatars and LAND through NFTs. Decentraland was founded in 2017 by Argentinians Ari Meilich and Esteban Ordino. It first introduced the Genesis City project to the public. The City consisted of more than 90,000 pieces of LAND (or parcels) which were available to buy for $20 at that time. The prices of LANDs have increased significantly and with the popularity of Meta and Virtual reality, they even reached $6,000-$10,000. Decentraland’s MANA token is the fuel of the ecosystem. It is both a utility and a governance token. You can use MANA to purchase parcels of LAND, buy items to develop your LAND or avatars, and later sell them for higher prices in the market. As MANA is also a governance token it powers the holders with voting rights meaning you can take part in the decision-making process and vote on changes related to Decentraland. Buy Decentraland Your capital is at risk. ApeCoin – Best Utility Token for Decentralised Gaming ApeCoin (APE) is the native token of the ApeCoin DAO and is also used as a utility token within the Ape ecosystem. The token was created by Yuga Labs and is meant to serve the Ape ecosystem. It is used for versatile purposes and is incorporated into the Ape community in various ways. First, it gives access to the holders to the unique parts of the ecosystem, including games, projects, and other services. APE has also become the native token of such famous projects as Bored Ape Yacht Club which is among the most popular NFT collections in the DeFi market. It has 10,000 unique NFT drawings representing bored Apes which are quite valuable. The BAYC NFTs are popular among such celebrities as Justin Bieber, Snoop Dog, DJ Khaled, Eminem, Timbaland, and many others – most recently Madonna in May 2022. Benji Bananas is another project that adopted APE cryptocurrency. It is an NFT game in which users can gain Membership Pass by holding APE tokens. One must have 25 APE coins to get a Membership Plan into the Benji Bananas where he can play and earn several in-game items and later swap them with APE tokens. Besides being a utility token, APE is also a governance token and APE holders have voting powers within the ApeCoin DAO. APE is among the most tradable assets right now. It is a relatively new coin and was launched in March 2022 but the project has garnered a lot of popularity in a short time. APE is traded at $6.27 right now and has a market cap of over $1.8 million making the crypto asset the 34th largest crypto by market cap. The maximum supply of the coin is 1 billion APE tokens. Buy ApeCoin Your capital is at risk. Binance Coin – Utility Token Serving the Leading Crypto Exchange Binance Anyone somehow familiar with cryptocurrency trading at least once heard the name Binance. It is a cryptocurrency exchange where traders can buy and sell more than 600 hundred digital coins and NFTs. Binance is the largest cryptocurrency exchange in the world with trading liquidity and its volume is equal to over $7 million. Binance Coin is the native token of the Binance exchange, Binance Chain and Binance.com and has the ticker symbol BNB. BNB was initially an ERC-20 token and used the Ethereum blockchain. Once Binance created its own blockchain known as Binance Chain, BNB adapted to the Binance ecosystem and became the native coin of the Binance Chain. The purpose for creating BNB was for discounted trading fees, so initially, it was used for paying transactions and the trading fees on the Binance exchange and Binance Chain. But the cryptocurrency has become more versatile throughout its development. BNB is accepted universally for different kinds of payments – via BNB you can make payments, purchase gift cards and lotteries, book travelling packages and even make investments in other coins. The cryptocurrency once had a maximum supply of 200 million tokens, but it decreased over the years as Binance sometimes organizes burning events during which it buys some BNB coins and destroys them. By doing so, Binance decreases the supply of the coin meaning that its value can increase if there is a high demand for BNB. For now, Binance Coin is the 5th largest cryptocurrency by market cap (over $49.6 billion) and falls behind only Bitcoin, Ethereum, Tether and USD Coin. Buy Binance Coin Your capital is at risk. Polygon (MATIC) – Utility Token with High Market Capitalisation Polygon was founded in 2017 in India by Ethereum blockchain developers with the purpose to make transactions faster and cheaper. The problem with the Ethereum blockchain is scalability, meaning that if the number of transactions on its network increases, it takes more time to verify those transactions, and transaction fees rise accordingly. Polygon was created as a sidechain of Ethereum that will be run parallel to Ethereum’s blockchain offering fast and cheap transactions. Polygon’s native cryptocurrency is MATIC which is called so because Polygon was initially known as Matic Network and was rebranded into Polygon only in 2021. MATIC is both a utility and a governance token for the ecosystem. It is used to pay for transaction fees or stake and become a validator. Additionally, MATIC holders have voting rights on the projects regarding the Polygon blockchain. MATIC entered the market through ICO during which it sold approximately 1.9 billion MATIC tokens worth $5.6 million in the first 20 days. It is now the 17th largest cryptocurrency with a market cap of over $5 billion. The maximum supply of MATIC tokens is 10 billion and almost 80% of the coins are in circulation. Buy MATIC Your capital is at risk. Chainlink – Widely Traded Utility Token for Blockchain Technology Chainlink is a blockchain technology aiming to use the global network of computers and provide real-world data to the blockchain-based smart contracts. Founded in 2017 by the Smart Contract company, Chainlink has become one of the most successful DeFi projects in the industry. Its native token LINK is among the 100 largest crypto assets by its market capitalization. To accomplish its goals, Chainlink uses data providers who are known as “oracles”. The latter must process the data and provide accurate information for smart contracts. To assure that oracles will be away from any malicious actions, reputation scores are assigned to them. As a reward for their service, oracles get new LINK coins which is the native token of the Chainlink platform. LINK has a maximum supply of 1 billion tokens 35% of which were sold during the ICO process raising $32 million in total. Buy Chainlink Your capital is at risk. Enjin – Best Utility Token for NFT Gaming Industry Enjin is a gaming platform that was created by Maxim Blagov and Witek Radovski in 2009, long before the cryptocurrencies became so highly incorporated into our lives. The main goal of the project is to develop the decentralized gaming industry and introduce innovations within that ecosystem. Enjin allows users to create in-game items and later use them within Ethereum-based games and platforms. Enjin also provides a marketplace where users can buy new items and sell them paying very low transaction fees. To buy items on Enjin’s platform one must possess ENJ coins which is the native cryptocurrency of the project. ENJ coins are used to purchase and sell those items in Enjin’s marketplace. Additionally, Enjin provides its decentralized wallet where ENJ holders can store their digital money. The Enjin wallet supports other coins too, including Bitcoin, Ethereum, etc. Enjin founders organized an initial coin offering of ENJ tokens in 2017 raising almost $10 million. Most of the money raised from the token sale went on building Enjin’s new blockchain. As for now, the ENJ token is the 80th largest cryptocurrency by its market capitalization which is equal to $570 million. The maximum supply of the coin is 1 billion ENJ tokens and almost 90% is in circulation. Buy Enjin Your capital is at risk. What are Utility Coins? If you are interested in buying utility tokens it is also crucial to understand what they are and what purpose they serve. A token is a common thing for the cryptocurrency project and while stepping into the DeFi world you will hear the multiple token types. In fact, the same crypto project can have more than one token: for example, it can have both a utility and a governance token. But these are not the same and there is a huge difference between coins, utility tokens, governance tokens, and security tokens. In the first place, you need to understand the difference between coins and tokens. While coins are simply created to hold some value and therefore be used as a means of exchange, tokens are more than that. Tokens can be valued too, but apart from it they also have additional use cases within their community. These use cases can be of different types, hence there are different types of tokens with the most popular ones being security, governance, and utility tokens. As its name implies, security tokens represent a share of the company that is tokenized, so by holding a security token, you actually have a part of the company. Pretty much similar to security tokens are governance tokens, which grant voting rights to the holders. By having governance tokens of a cryptocurrency project, users can participate in voting regarding the changes to that project. Utility tokens do not grant any voting power, nor do they represent a share of the company but they give a lot of advantages to the holders within a particular ecosystem. For example, those holding utility tokens can have discounts for different services, they can use these tokens for paying services within the community, and can also be staked to generate rewards. Utility tokens also have value meaning that they can be traded to profit from the price movements. One of the best things about the utility tokens is their versatile use cases. It means that even if their value decreases they can still be useful for other purposes. For that reason they’re considering among the best altcoins to buy. How We Reviewed the Best Utility Coins to Invest in The cryptocurrency market is filled with thousands of different coins and tokens which makes it a hard choice to find the ones that can be profitable and safe. Below are some of the metrics we use when researching the market and recommending which coins to purchase in 2022. Use Cases Having another useful purpose apart from being a tradable asset makes a cryptocurrency more valuable. People will buy it not only for trading purposes but also use it within its ecosystem which will increase the demand for it. Moreover, if the project that the crypto was created for becomes a well-established one and gains popularity within the Defi community it will attract more interest and attention. Past Performance It is also crucial to take a look at the past performance of the cryptocurrency you want to purchase. You need to analyze its price movements and understand the best signals to buy it. Along with the market analyses, you should also take into account the fundamental analyses of the asset as long as its future projects and goals can significantly influence its popularity and value. Potential to Growth In our recommendation list, we mostly included those tokens that have a lot of potential to grow in the future. Especially the first two tokens in the list – Lucky Block and DeFi Swap have rather market capitalization (#3217 – LBLOCK, and #4266 – DEFC), but their projects have a lot of room for growth and great service to offer in the future. So, if the projects succeed in accomplishing their goals, their values will rise as a result. Security Eventually, it is essential to invest in those assets that are backed by a promising team and stand out with their unique and innovative plans. You need to do a bit of research to make it clear if the cryptocurrency has a good development plan or if it is another scam that will burst shortly. All the tokens included in our list are analyzed carefully which indicates that they have strong plans and goals to bring innovations into their industries. Are Utility Coins a Good Investment? First of all, we should note that all cryptocurrency investments involve a lot of risk because of being quite new in the market and have high volatility. However, some cryptocurrencies are riskier than others. These crypto-assets are just copies of another crypto project and are created for fun. They usually do not have sophisticated technologies or goals and can become viral for a certain period and then lose their value or crash. Meme coins are among such cryptocurrencies. In contrast to them, utility tokens usually serve a particular purpose. They are developed to fuel this or that ecosystem and used within those networks for various purposes. They become the native tokens of more serious and revolutionary crypto projects. Consequently, they involve lower risks and the rewards are lower too compared to the risky investments. Still, utility tokens are excellent investments in long-term perspectives. The projects backing them need to develop over the years to prove their technology and be adopted by the community. It means that they are more stable, have more potential to grow, and have less probability to crash in the future. Where to Buy and Trade Utility coins? Cryptocurrencies are supported by several brokerage platforms and crypto exchanges that are available worldwide. To buy or sell utility coins you must have a verified account with the broker of your choice. eToro is one of our most recommended brokerage platforms to buy or sell utility tokens as it supports most of the tokens included in our recommendation list and it charges fairly low trading fees. eToro is a leading broker in the industry with millions of customers from more than 100 countries. This is due to the extremely user-friendly interface and cost-effective trading fees which make eToro an excellent place to invest in utility tokens. The platform is a commission fee and the only trading fees eToro charges are the differences between the buy and sell prices. Additionally, it does not take any deposit fees and the withdrawal fee is quite low. One of eToro’s excellent features is its social trading platform with multiple trading tools. Such popular tools as CopyTrader or CopyPortfolios enable the users to mirror the trading portfolio of an expert trader with a few simple steps. Both social trading platforms and the tools are completely free and you do not need to pay extra management fees to use them. The broker guarantees the safety of your trading and protects your account from fraud with top-notch security features. Plus, it is regulated by several top-tier institutions which makes eToro quite a trustworthy and reliable platform. How to buy Utility Coins – Step by Step After learning about utility tokens you may be wondering about how to buy utility coins through a crypto platform of their official site. In this section, we will walk you through the whole process and explain step-by-step what you need to do. For LBLOCK and DEFC, full instructions are on their sites: Luckyblock.com Deficoins.io For MANA, APE and various other utility tokens visit eToro and sign up for a free account on the platform. The eToro registration process is straightforward and involves providing such details as your name, surname, address, phone number, email, and creating a password. Once all the details are registered appropriately, you can get to verify your account. For this purpose, you will need such documents as your passport, ID, or driver’s license and a bank document with your address or a utility bill. Fund Your Account To fund your eToro account you have several options – credit or debit card, wire transfers, Neteller, Skrill, Paypal, etc. Click on the “Deposit” button to select one of these methods and deposit some money into your account. eToro does not charge deposit fees for funding your account but a small conversion fee is taken for non-USD transactions. Search the Cryptocurrency, and Analyse the Coin Now you have all the necessary things to purchase your selected utility tokens – a verified account and funds on it. What you need to do is to browse the cryptocurrency section to find the coins you want to buy or simply type its ticker in the search toolbar. Place an Order Once you find the cryptocurrency you want to buy, eToro will show you a news feed dedicated to that asset. You will also find some charts, graphs, news, and other tools which can help you to do one last research before buying it. When you are sure about making the purchase, click on the “Trade” button and fill in the necessary boxes to place the order. Where to Trade Utility coins? For crypto trading, you will need a reliable, versatile, and quick-to-operate brokerage platform. Additionally, you had better select a broker that charges low trading fees not to lose a part of your capital on fees every time you buy or sell an asset. Below we have included the best platforms to trade utility tokens after thorough market research. eToro Capital.com Crypto.com Conclusion In a nutshell, there are a number of utility tokens that were founded to serve the ecosystems of promising blockchain projects. These projects mostly belong to the decentralized exchange, gaming, virtual worlds, NFTs, and other ecosystems and have a lot of potentials to succeed in what they are planning to do. Lucky Block, Defi Coin, ApeCoin, Binance Coin, and Decentraland are a few examples of such projects which are worth considering as an investment. These tokens are not only used for trading but have more serious purposes above it – they are used to fuel their networks. You can buy and trade these cryptocurrencies on crypto exchanges and brokerage platforms and eToro is one of the leading platforms that support many of these crypto assets. Lucky Block - Our Recommended Crypto of 2022 Our Rating New Crypto Games Platform Featured in Forbes, Nasdaq.com, Yahoo Finance LBLOCK Token Up 1000%+ From Presale Listed on Pancakeswap, LBank Free Tickets to Jackpot Prize Draws for Holders Passive Income Rewards - Play to Earn Utility 10,000 NFTs Minted in 2022 - Now on NFTLaunchpad.com $1 Million NFT Jackpot in May 2022 Worldwide Decentralized Competitions Visit Site Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. FAQs What is a utility coin in the crypto market? A utility token is a type of cryptocurrency that can have several use cases within a particular ecosystem. For instance, LBLOCK is the utility of the Lucky Block platform through which you can participate in decentralised lottery games and earn rewards through yield farming. Can I trade utility tokens? Yes, utility tokens are listed on several major crypto exchanges, hence you can easily buy and trade them through an online account. What is the difference between utility and security tokens? If you have a security token it means you own a stock of the company. So, a utility token is a share of a certain company that is tokenized. In contrast, a utility token does not represent a share but it grants you some rights within an ecosystem. What are the best utility coins to buy right now? Lucky Block (LBLOCK) and DeFi Coin (DEFC) are among the most popular and most tradable utility coins for now which have a good potential to grow in the future. What is the purpose of utility tokens? Utility tokens are created to fuel a particular ecosystem and enable holders to do some actions within that ecosystem. For example, they can be used to pay for transaction fees, stake and generate rewards, buy in-game items, etc. How can I buy utility coins? To buy utility tokens you must register for an online account with a trustworthy brokerage platform, deposit some funds and make a purchase. What is the total market capitalization of utility coins? From the list of the utility coins that we recommend investing in, Binance Coin has the highest market cap and is the 5th largest cryptic with the market cap. In contrast, DeFi Swap and Lucky Block fall behind with their market cap and have below #4000 and #3000 rankings on the charts.