Still, want to invest in cryptocurrency but not sure where to begin? Let’s help you out by taking you through the list of the best cryptocurrencies to invest in. You can now stay ahead of the crypto trends with this detailed guide.
As a beginner, you may find it difficult to know where to start when it comes to investing in cryptocurrency. Relax, because you are not the only one going through this confusion when it comes to cryptocurrency investment. You can also get a clue from this detailed article if you have already invested in cryptocurrency but want to know the next big thing in cryptocurrency for your next investment.
Owing to the fact that there are a lot of choices to choose from when it comes to cryptocurrency, we understand your confusion and we are here to help you overcome it. In this article, we will be giving you an outlook on the cryptocurrencies you should be investing in .
This list is introducing you to the top five cryptocurrencies you can invest in. Now, these cryptocurrencies are selected based on their significant growth in the past and will continue to be in the mainstream especially for the pricing graphs or R&D.
Bitcoin – BTC
Bitcoin is adjudged to be the king of cryptocurrency. It was created in 2008 by an anonymous individual or group of people who went by the name Satoshi Nakamoto. Bitcoin is a decentralized currency that can be sent from user to user on the peer-to-peer bitcoin network without using intermediaries.
Bitcoin has no central bank or single administrator. Cryptography is used by Network nodes in verifying transactions which are then registered in a public distributed ledger known as Blockchain.
If you are looking for a coin to invest in and can afford it, you can buy into bitcoin. This is because whether the price rises or falls, bitcoin will continue to dominate the cryptocurrency sector. Traders on the other hand will benefit from high liquidity irrespective of market stability as long as it continues to exist. Even though bitcoin is unpredictable, it still has a steady upward trend.
Bitcoin stands as the most popular cryptocurrency with a market capitalization of $1.01 trillion BTC, as it is known by its member ticker. Bitcoin was designed as a means of facilitating decentralized transactions and as a store of value.
Ethereum – ETH
Ethereum is a decentralized software platform that enables Smart Contracts as well as Decentralized Applications (DApps) to be designed and operated requiring no third-party downtime, theft, control, or intervention.
Ethereum comes right after bitcoin and works as a permissionless, non-hierarchical network of computers (nodes) that generate and achieve consensus on an ever-growing sequence of “blocks” or batches of transactions known as the blockchain.
Ethereum’s native cryptocurrency is Ether (ETH). Ethereum was designed and exposed in 2013 by Vitalik Buterin, a programmer. He proposed Ethereum in 2013, and the network went live on July 30, 2015, with an initial supply of 72 million coins, after it was crowdfunded in 2014.
Ethereum comes in handy for decentralized finance, the production and exchange of non-fungible tokens (NFTs) as well as many Initial Coin Offerings (ICOs). Ethereum’s market capitalization is at $195.54 billion as at 29 March 2021.
Tether – USDT
Previously known as Realcoin, Tether was launched in 2014 and stands as one of the first cryptocurrencies to get pegged to the US dollar. This coin is a blockchain-based cryptocurrency whose crypto coins are supported by an equal sum of conventional fiat currencies which are kept in a specified bank account, like dollar, euro, or Japanese yen.
Tether is a stablecoin which is a form of cryptocurrency that seeks to hold cryptocurrency prices stable, as opposed to the large fluctuations seen in the prices of other common cryptocurrencies like Bitcoin and Ethereum.
As of January, Tether was the third-largest cryptocurrency by market capitalization with $24.4 billion and a per token value of $1.00.
Cardano – ADA
Another cryptocurrency you can invest in is Cardano. It is a cryptocurrency network and open source project with the aim of creating a public blockchain platform for smart contracts. ADA is the internal cryptocurrency of Cardano.
The platform development started in 2015 by Charles Hoskinson, who is a co-founder of Ethereum and BitShares and it was released in 2017. As of 9:36 a.m. IST on March 29, ADA, the non-profit digital currency, was trading at $1.19 and had a market cap of $40.4 billion.
Polkadot is a cryptocurrency that is designed to provide blockchain interoperability. Polkadot’s protocol links permissioned and permissionless blockchains and oracles. This enables the systems to interact under one roof. Polkadot was designed by Gavin Wood, Thiel Fellow Robert Habermeier, and Peter Czaban. Gavin Wood is also a co-founder of the Ethereum Project and was previously the Chief Technology Officer.
As at March 2021, Polkadot has a market capitalization of $30.3 billion, and one DOT trades for $32.83. Via its relay chain, Polkadot enables as internet where independent blockchain can share information and transactions in a trustless manner. Polkadot can be used to create and connect decentralized apps, utilities, and organizations easily.
Now you know the cryptocurrencies you can invest in. You can go ahead, study the market more, and invest now that you have the right information at your fingertips.