There are thousands of Crypto Revolt available in the market, and it is a daunting task to choose the best one for investing. Most people think that BTC is the safest option, as it has occupied a major part of the crypto market, but you can invest in other cryptos to diversify your portfolio and reduce your risk of losses. Read on to know more in detail to know more about the cryptocurrencies that you should invest in.
Top 6 Crypto Currencies You Should Consider Investing InYou may think that the below-mentioned list of currencies can change your life overnight and you can become a millionaire. But you can lose everything by investing your funds in these currencies without having a proper trading strategy. So, you can consider the following options, but you need to do your research before you start investing your funds.
1. BTC: Bitcoin is the first crypto that has been launched in 2009 by Nakamoto. It is based on blockchain technology and users can use its P2P network to make their online transactions. It was launched as an alternative currency to fiat money because fiat currencies can get affected by market inflation and people cannot control their funds due to centralized control over these fiat currencies. BTC transactions are stored in a public ledger where miners can perform their task to add new blocks to the BTC network, and they can verify the transactions with BTC by using their computing power. Bitcoin was priced at $500 in 2016 and now, the price of one BTC is about $17,023. So, it has received a growth of 3,305% in six years. It is advised to start your crypto investment with Bitcoins when getting started.
2. ETH: With a market capitalization of $153 billion, ETH or Ethereum occupied the second position in the crypto market, after BTC. ETH is a non-fungible token based on smart contracts, and users can make their transactions with ETH in a secure way. Parties involved in a contract must agree with the terms written in the respective contract to initiate a transaction, and Ethereum is a platform for developers to build their contracts. The price of ETH was $11 in 2016, and now the price of ETH is around $1258. So, it has experienced a huge growth of 11,336% in the last few years.
3. Tether: It is also known as USDT, which has a 465.6 billion market capitalization. It is a stablecoin backed by fiat currencies, like the U.S dollar and Euro, and you can invest in this crypto to avoid the risk of volatility. The value of USDT is supposed to be more stable than other cryptos, and it is the best option for investors who want to avoid the extreme risk of volatility of this market.
4. BNB: With a market capitalization of $46.2 billion, BNB stand in the 4 th position in this market. It is a crypto that can be used for trading purposes, but people mostly use this coin to pay the fees of Binance, which is one of the largest trading exchanges of cryptocurrencies. Initially, it was launched for paying the fees of Binance, and now people are trading BNB like other cryptos. Apart from trading, you can also use this coin to buy other cryptocurrencies from Binance, and you can even use BNB for your travel booking and online shopping. Starting with $0.10 in 2017, BNB got huge growth and now the
price of BNB is about $289.
5. USDC: U.S. Dollar Coin is another stablecoin line USDT, which is backed by U.S. Dollar. It means one USDC is equal to one U.S. Dollar. It is powered by Ethereum, and people mostly use this crypto for cross-border transactions.
6. XRP: It has a market capitalization of %19.5 and it was established by the founders of Ripple, which is a global payment processing company. You can use this crypto for your online transactions and global payment, especially when you want to convert your coins into fiat currency.
Conclusion
Apart from these mentioned-above factors, you can also invest your funds in other cryptos like DOGE, ADA and MATIC. More than 22 thousand cryptocurrencies are available nowadays, and none of them has any custodian authority. As digital currencies aren;t controlled or mined by any government or central bank, this way, a lack of centralized authority and regulations can increase confusion, and it is a major cause of volatility in this market. To diversify your portfolio, you can log in to british-bitcoinprofit.org.
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