There is a steady increase in the popularity of crypto. When there is a hot new trend, many jump on the bandwagon. Many options are available on the market for those fascinated with digital currencies backed by precious metals.
Gold is the most popular of the bunch, but others include platinum, palladium, and — the topic of this article — silver. While constantly playing second fiddle to gold, silver is just as popular among precious metals.
How does it work?
The idea of virtual currency backed by bullion like gold and silver has been tried numerous times. Arguably the most successful before the advent of cryptos like Bitcoin was e-gold, co-founded by Douglas Jackson. The coin proved to be very popular at its peak in the 1990s, with at least 1,000 new accounts made each day.
There are already several cryptos backed by precious metals or that are in the development stages. One of the most significant advantages of this approach to owning precious metals is that it allows ownership of small amounts without dealing with storage issues while offering security and the ability to easily and quickly transfer value to someone else.
Top three things to know before starting:
- Central bank digital currencies are coming, but they can’t compete with real money.
- Silver- and gold-backed crypto is the future and will likely play a key role in a financial reset scenario.
- That could mean a new source of demand for precious metals and could help push silver and gold much higher.
Best silver backed crypto to buy in 2022
Let’s take a look at the best five cryptos to invest in.
SilverCoin (SC)
SilverCoin’s fractionalized form and its security measures and inclusive nature make it a popular investment option. It is the first fractionalized silver-backed asset globally. You may exchange SilverCoin for pure silver in our vault at any time. For example, SilverCoins may be exchanged at a 1:1 ratio of 100 SilverCoins for one ounce of silver.
Price history
SilverCoin price is $0.000290145376 with a 24-hour trading volume of $125.24. It has a circulating supply of 0 SC coins and a total supply of 180 Million.
- SC hit an all-time high of $0.015915014313 on Jan 12, 2022.
- SC had an all-time low of $0.000189602820 on May 19, 2022.
Where to buy it?
It is traded on one exchange, with the top exchange being PancakeSwap V2.
What are the perspectives of the SC?
The short-term price prediction forecasts the coin to trade around an average price of $0.014 by 2023 and will rise 122% from the current price by the beginning of 2024; hence the token is undoubtedly a profitable investment choice.
Silverway (SLV)
It was founded in 2018 and has been around for quite some time. Silverway is part of the Slavi project, which aims to build a digital infrastructure for cryptos.
Slavi intends to support as many blockchain protocols as feasible to give consumers a full solution. The Slavi DApp, built on the Web 3.0 project, enables direct connections between wallets and protocols, eliminating third-party involvement and giving customers control over their cash.
According to the Slavi project’s monetization strategy, the SLV token is the primary value and payment source carrier for the platform’s operations and capabilities.
Price history
Silverway price today is $0.000056737203 with a 24-hour trading volume of $184.40. It has a circulating supply of 0 SLV coins and a total supply of 1 Billion.
- SLV hit an all-time high of $2.40 on Jul 09, 2019.
- SLV had an all-time low of $0.000001510133 on Jul 08, 2020.
Where to buy it?
It is traded on two exchanges, with the top exchanges being DeFiChain and FTX.
What are the perspectives of SLV?
According to the forecast price and technical analysis, in 2023, the SLV price is expected to cross an average price level of $0.00011807; the expected minimum price value of Silverway by the end of the current year should be $0.00011405. Moreover, it can reach a maximum price level of $0.00013375.
AurusSilver (AWS)
AWS is a silver-backed ETH token produced by a group of experienced traders from the existing precious metals industry. Each AWS token is backed by 1 gram of 99.9% LBMA-accredited silver, stored in insufficiently insured and regulated vaults, and then redeemed.
Price history
AurusSILVER price today is $0.748753. It has a circulating supply of 0 AWS coins and a total supply of 732 thousand.
- AWS hit an all-time high of $5.01 on Jan 08, 2022.
- AWS had an all-time low of $0.119879 on Jan 08, 2022.
Where to buy it?
It is traded on 0 exchanges.
What are the perspectives of the AWS?
By the end of the year, it is expected to reach a minimum fee of $0.91. In addition, the AWS price is capable of getting a maximum level of $1.09.
Silver Token (SLVT)
Each SilverToken is a 1:1 representation of direct silver ownership in the form of an ounce of investment-grade bullion. The coin’s makers only hold 99.9% silver and adhere to the London Bullion Market Association’s requirements.
Price history
SilverToken price today is $22.90. It has a circulating supply of 0 SLVT coins and a total supply of 1 Million.
- SLVT hit an all-time high of $30.09 on Mar 13, 2022.
- SLVT had an all-time low of $21.45 on Dec 15, 2021.
Where to buy it?
It is traded on one exchange, with the top exchange being Dex-Trade.
What are the perspectives of the SLVT?
By 2022 its prices will have reached a level similar to their previous all-time high. We may expect an average price of $30.18. If everything goes smoothly, we predict the maximum price of Silvertoken could be up to $33.60 in 2022.
Silver Stonks (SSTX)
The native token, SSTX, powers the Silver Stonks ecosystem, making it simple for traders to diversify between digital and physical assets. Token holders may use SSTX to purchase actual silver. Earn interest on the actual silver purchases in the Silver Shop, and earn up to 12% APY on the SSTX token by staking and additional perks through Silverback City Metaverse and NFT collection.
Price history
Silver Stonks price today is $0.000000351612 with a 24-hour trading volume of $167.75. It has a circulating supply of 750 Billion SSTX coins and a total of 2.3 Trillion.
- SSTX hit an all-time high of $0.000002589242 on Nov 01, 2021.
- SSTX had an all-time low of $0.000000000000 on Jul 14, 2021.
Where to buy it?
It is traded on 0 exchanges.
What are the perspectives of the SSTX?
The price is expected to cross an average price level of $0.00000039; the expected minimum price value by the end of the current year should be $0.00000038. Moreover, it can reach a maximum price level of $0.00000045.
Pros and cons
| Worth to buy | Worth to getaway |
| Crypto may be the next major source of demand for precious metals, helping to push silver and gold much higher in the future. | Investors need to be careful when choosing a precious metal-backed stablecoin to buy. |
| As an investment, silver supplies an important hard asset that has held value for millennia. | Investors should confirm the project has a seamless bullion redemption process that is fair and economically viable. |
| It has a lower spot price. | Investing in the wrong project can lead to a loss of money and other headaches. |
Final thoughts
Cryptos backed by physical assets grow in popularity and show no signs of slowing down. Silver-backed crypto is set to grow in influence as the stablecoin market expands.