What’s The Ideal Cryptocurrency To Invest In?
The cryptocurrency market is changing rapidly. Prices fluctuate almost daily, and new cryptocurrencies pop up every day, creating entirely new investment categories. However, the cryptocurrency market is still in its infancy, so there are still many opportunities for new cryptocurrencies to pop up and excel. By far, the cryptocurrency with the biggest potential is Bitcoin. However, other cryptocurrencies also have the same potential as bitcoin.
Cryptocurrency is all the rage these days, and with good reason. With Bitcoin prices reaching $20,000, people are looking for a way to cash in. Unfortunately, investing in Bitcoin, Ethereum, or Litecoin isn’t a safe bet for most. But cryptocurrency isn’t just for early adopters looking to get in on the ground floor of the next Bitcoin and reap the rewards.
Here is the Ideal Cryptocurrency to Invest in:
- Bitcoin
Bitcoin is a digital cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The exchange rate for bitcoin has been volatile.
Bitcoin has gained much attention, but not everyone is sure what it is. Bitcoin is a digital currency or medium of exchange created and maintained by its users, called miners. This free, decentralized currency, also known as a cryptocurrency, is not regulated by any central authority.
- Ethereum
Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. Built using blockchain technology, Ethereum’s goal is to provide a peer-to-peer network where users can build and deploy decentralized applications in the form of smart contracts. Ethereum is among those decentralized platforms running smart contracts: apps running precisely as they are programmed with no possibility of censorship, downtime, third-party intrusion, or fraud. Ethereum’s blockchain network is currently the largest blockchain by market capitalization.
- Binance Coin
Binance Coin (BNB) is an exchange token issued by Binance. The coin’s purpose is to give users discounts when they use Binance’s platform and incentivize trading. Binance Coin is used for listing fees, transaction fees, and for voting on coin listings. Binance Coin is one of the most exciting crypto projects due to its relatively low market cap. The project’s low market cap means that the price of BNB will likely rise, and the project’s low liquidity means that it will likely see steady volume.
- Tether (USDT)
Tether is a public company that issues digital tokens on the Bitcoin blockchain. Tether’s tokens are pegged to the U.S. dollar, and users around the world can buy Tether tokens (“USDT”) on the open market. The U.S. dollar backs tether’s tokens at a 1:1 ratio, and Tether is audited each quarter by the auditing firm Friedman LLP. Tether’s CEO has said that USDT is “not a currency” but rather “a reliable store of value” and that Tether’s tokens are “closely associated” with Bitcoin. Tether’s tokens are known as USDT, and they act essentially like bitcoins, but U.S. dollars back USDT tokens.
- Solana
Solana, the 4th-generation cryptocurrency, is a fully decentralized peer-to-peer network that uses transactional blockchain technology to record payments and transactions. It is an open-source platform built upon principles of censorship resistance, permission lessness, and immutability. Solana is not controlled by any central authority, and neither is it backed by any national economy or currency. It provides a gateway to digital money, enabling users to create, send, and receive Solana and other cryptocurrencies.
Bitcoin and Ethereum might be the most popular cryptocurrencies. However, they have their limitations. Bitcoin is volatile, and Ethereum has other technical merits. So, it’s ideal to invest in other cryptocurrencies that are less volatile.
