5 Cybersecurity Cryptos to Bet on a Secure Future for Digital Money

There are a variety of projects and organizations making cybersecurity a fundamental cornerstone of digital money. Some are cropping up to help users spot malware. Others are helping investors by providing in-depth analyses of new cryptos. In fact, even the U.S. government is making a foray into crypto-specific cybersecurity; last month, the FBI launched a crypto unit to track criminals through their crypto assets.

While this cybersecurity renaissance is taking off, investors are looking for ways to profit. Luckily, many of these projects have their own cryptocurrencies. This means that supporting a promising player is as simple as buying and utilizing their native token. With this in mind, what are the best cybersecurity cryptos to invest in?

Consider one of these:

• Hacken Token (HAI-USD)
• CertiK (CTK-USD)
• Polyswarm (NCT-USD)
• Quantstamp (QSP-USD)
• Lossless (LSS-USD)

Cybersecurity Cryptos to Buy: Hacken Token (HAI-USD)

Source: Shutterstock

Hacken Token is the cryptocurrency underlying the Hacken Foundation. This is a group of companies that have come together to ensure a safer blockchain experience for their clients. As a part of this goal, the group has created the HAI token, which is one of the best cybersecurity cryptos to buy right now.

The Hacken project works closely with clients, most of whom are developing their own projects geared toward Web 3.0. It reinforces the infrastructure of these projects with increased cybersecurity protections. Some of its projects ensure that market-maker clients are compliant with regulatory guidelines. Others seek to protect clients from distributed denial-of-service (DDoS) attacks, which can halt a site’s traffic entirely.

Hacken provides these services for dozens of clients, including exchanges FTX and Gate.io, as well as data aggregator CoinGecko. The foundation even has a partnership with the government of Ukraine to underlie its blockchain initiatives.

The HAI token launched in May 2020. By holding it, developers have discounted access to Hacken’s many services. Even more importantly, holding HAI gives one access to a Hacken Club membership. Members who hold enough of the tokens can earn an annual percent yield (APY) of up to 9% for staking their tokens.

CertiK (CTK-USD)

Source: Ira Lichi / Shutterstock.com

One of the first rules to researching new cryptos is to find a project’s audit results before investing. Crypto audits are an increasingly essential aspect of any given project — they provide a certain badge of legitimacy.

CertiK is a crypto security project that’s one of the best-known auditors.

CertiK, like the Hacken Foundation, offers many different services. Its tools can be used to simulate cyber attacks or to conduct on-chain security. However, it is perhaps best known for its audits, which can be appreciated by both developers and users alike.

Using CertiK, developers can pay to have their crypto’s protocols examined. The CertiK team inspects the project’s code, looking for any vulnerabilities which hackers could exploit. After this sweep, the team communicates vulnerabilities with the project, along with recommendations on how to fix them. The developers can then patch any bugs before being re-audited and, hopefully, receiving positive results.

On the flipside, CertiK also keeps a watchful eye on projects who might not want to be audited. Indeed, plenty of scam coins and tokens crop up purporting to be the next big thing. CertiK diligently tracks down projects and alerts investors accordingly.

Cybersecurity Cryptos to Buy: Polyswarm (NCT-USD)

Source: Shutterstock

Polyswarm describes itself as “a launchpad for new technologies and innovative threat detection methods.” The platform hosts multiple cybersecurity projects that promote new means of spotting malware and other malicious activity.

The Polyswarm network hosts over 50 different engines built to detect malware. These engines all function differently, and many use their own proprietary tech. Polyswarm’s job in all of this is to create a marketplace for security engines one can use to protect themselves from malware. Users come to Polyswarm to find the right cybersecurity product for them.

Polyswarm’s NCT token is the driving force beneath this economy of engines. Engine owners buy NCT to supplement the operation of their products. Other token holders can supply engine owners with additional NCT to bolster their projects. Engine owners can generate passive income by earning NCT whenever they supply relevant cybersecurity data; other users can also farm NCT by supplying their own data to the network.

Quantstamp (QSP-USD)

Source: Piotr Swat / Shutterstock.com

Quantstamp is perhaps the best known alternative to CertiK. It has protected over $200 billion in assets through its audits, putting it not far behind CertiK’s $257 billion.

However, these auditors operate in different ways. While CertiK’s audits are a public affair, with any user able to read the entire report, Quantstamp works privately with its clients. Quantstamp is also much smaller. Where CertiK has audited over 1,700 projects, Quantstamp is behind just 200.

Yet, the projects it does work with are some of the heaviest hitters in blockchain. It is behind audits for OpenSea, Solana (SOL-USD) and Binance (BNB-USD). Most notably, the company is behind the audit of Ethereum’s (ETH-USD) coming 2.0 upgrade, assisting the developers in rolling out the upgrade as smoothly as possible.

The QSP token is rapidly becoming one of investors’ favorite cybersecurity cryptos. Indeed, its transaction continues to rise in the wake of a bullish run from July 2021 up until February, when the crypto quadrupled in value before trailing back downward.

Cybersecurity Cryptos to Buy: Lossless (LSS-USD)

Source: Shutterstock

Lossless is an interesting project in that it doesn’t look to prevent cyber attacks. Rather, it is dedicated to helping users that have fallen victim to various cyber crimes.

The Lossless network is made for token creators. Essentially, it wants to help minimize the pain for tokens hit by hacks and exploits. One of the biggest issues for creators is when these hackers and bad actors mix the crypto and attempt to run off with it. This creates all sorts of headaches when it comes to reporting circulating supply and other metrics.

The solution Lossless presents is in tracking down these assets for the token creators. Lossless calls itself a “DeFi hack mitigation tool,” tracking down assets and freezing them. After this, Lossless can repossess the assets in order to return them to their rightful owners.

The network uses white-hat hackers in order to spot hacks as they happen. These good actors create bots which can automatically spot exploits and notify creators affected by them. A project committee then works with third parties to track and seize the assets.

On the date of publication, Brenden Rearick did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.