Best Cryptocurrency To Invest In- Fifteen years ago, the concept of cryptocurrency was just beginning to take shape, and it was not yet widely recognized or understood by the general public. However, in recent times, cryptocurrency has emerged as one of the most important and influential developments in the financial market.
This digital currency has disrupted the traditional financial system and has opened new possibilities for investors and traders. From Bitcoin to Ethereum and many more, thousands of cryptocurrencies are at your disposal.
But how would you know which is profitable and valuable? In this article, you will learn all the 5 best Cryptocurrency to invest in. Read on to find out which best benefits your financial needs.
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1. Bitcoin (BTC)
This is the original cryptocurrency which is why it is famously called the ‘King of Cryptocurrencies.’ It was created in 2009 by Satoshi Nakamoto and its primary goal is to act as a global digital cash for financial investors.
This cryptocurrency runs on a blockchain, a distributed ledger that records all transactions made on the platform. Bitcoin allows for transparency and optimum security, as you will be able to publicly access all transactions, so they can neither be altered nor deleted once they have been recorded.
Aside from these, Bitcoin is one of the best cryptos to invest in because the prices most times skyrocket, which is one of the reasons it is being bought by many investors. It has a market valuation of $500 billion, roughly 44% of the overall market. So why then wouldn’t you invest in it?
2. Ethereum (ETH)
Ethereum is the second-largest and most widely used cryptocurrency to invest in. It is one of the best Cryptocurrency to invest in. This crypto was founded by Vitalik Buterin and was co-founded by Joseph Lubin in 2015. Ethereum is a platform that allows you to create and build a wide range of digital applications that can be used on the Ethereum blockchain. These applications built from this platform are then called ‘decentralized applications’ or ‘Dapp.’
Unlike Bitcoins, Ethereum can execute smart contracts. These smart contracts allow for automated transactions and provide an alternative to traditional legal contracts. This crypto can also be used to pay for transaction fees, as a store of value, and for speculative trading.
Ethereum is the choice of many because it has a market value of around 200 billion. It is different and unique than Bitcoin because it is not used for just buying and selling. The Ethereum Blockchain is also used for Web 3.0 applications and trading non-fungible tokens (NFTs).
Overall, Ethereum is one of the cryptos you should jump on when you want to invest. It is more environmentally friendly, and as of March 13, 2023, its value increased by 40%.
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3. Tether (USDT)
If you are an investor who is scared of the extreme volatility of other crypto coins, Tether is what you should consider. It is one of the best Cryptocurrency to invest in. This coin, unlike other cryptocurrencies, is a stablecoin, which means it is backed by fiat currencies like the Euro and the US dollar. Hypothetically, Tether keeps a value that is equal to these currencies.
This coin provides a predictable and reliable asset you use as a haven during a market crisis. It is not as popular as Ether and Bitcoin but it is a coin that will keep your mind at rest. Additionally, Tether allows you to trade in and out of cryptocurrencies without having to use a fiat currency, making trading easy, convenient, and more efficient.
Tether is an investment you can bank on and it has a market capitalization of over $73.2 billion. Although like other cryptos, it has its own risk then, it is an investment you’ll make that will bring you peace of mind. However, do thorough research before you decide to opt for it.
4. Binance Coin (BNB)
Binance is one of the fastest-growing exchanges and the best Cryptocurrency to invest in the world, the same as its coin, The BNB. The company launched the Binance coin in 2017 and it is a native of the Binance Smart Chain. Typically, the BNB was only used to pay transaction fees on the Binance exchange, which results in discounts for users who use it. But now, the coins can be used to purchase several goods and services, including entertainment and travel.
In terms of liquidity, Binance coin is one of the most liquid cryptocurrencies and it was well-ranked on several reliable platforms with a stable trade volume. Another amazing feature of this crypto is its burn mechanism. Binance uses a certain percentage of its profit to buy back and burn the Binance coins. This helps them reduce the overall supply of the token, potentially boosting the coin’s value over time.
Therefore, if you are looking to diversify your crypto investments, think and consider the Binance coin. It has a market capitalization of $49.8 billion and can potentially increase in due time.
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5. USD Coin (USDC)
The U.S. Dollar coin is also a stablecoin similar to Tether and it is a coin backed by the U.S. dollar. It was launched in 2018 by Circle and Coinbase, the two largest cryptocurrency companies in the world. This coin is pegged to the US dollar value and one USDC equals one dollar. This makes it one of the most stable and useful tools for trading and investment purposes in the volatile cryptocurrency market.
The USD coin is built on the Ethereum blockchain, making it an ERC-20 token, and it can be used for various applications within the Ethereum ecosystem. This coin can be used to make payments, stored in Ethereum-compatible wallets, and be used to transfer value. It can also participate in decentralized finance (DeFi) applications on the Ethereum blockchain.
Another interesting benefit of the USDC coin is its wide adoption by decentralized finance (DeFi) applications on the Ethereum blockchain. This coin can be used on most major cryptocurrency exchanges as a trading pair for several cryptocurrencies. Also, a lot of DeFi protocols also use it as a stable coin for lending and borrowing, which can provide users with attractive interest rates.
This coin is a popular stable cryptocurrency and has a market capitalization of $39.4 billion. It is powered by Ether, so you can rest assured of its legitimacy and originality.
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Conclusion
Explicitly explained above are some of the best cryptocurrencies to invest in now. These cryptocurrencies have been explicitly explained and their benefits have been stated.
Therefore, if you would like to make a crypto investment, consider one of these coins. However, ensure you do your own thorough research and seek financial advice from experts before making huge investments.
FAQ
What are cryptocurrencies?
These are forms of currency that exist only in digital forms. They can be used to pay for online purchases without intermediaries such as banks. It can also be held as a form of investment.
How do you buy crypto?
If you would like to buy cryptocurrencies, you can buy them through crypto exchanges such as Gemini, Binance, Coinbase, etc. you can also get them from brokerages such as WeBull and Robinhood.
Why Should I Invest in Cryptocurrency?
Cryptocurrency is the new world when it comes to the financial and trading market. This is because the advent of these currencies has brought about a degree of financial protection against inflation, government interference, and economic instability. Aside from that, investing in these currencies has the potential to yield high returns.
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