The current modern world requires modern and secure ways of investing and handling money. Cryptocurrency comes out as the current leader of the pack. A cryptocurrency is a form of a digital asset that is designed as a medium of exchange wherein the ownership records are kept in computerized databases to keep the transactions secure. There are several best cryptocurrencies to invest in but the most prominently known ones are Bitcoins and Etherium. There are many online websites where you can buy crypto coins, but you should trust only a verified and trusted website.
Cryptocurrencies make the transfer of funds much easier and transparent without involving any third party like a bank. These transfers are secured with public and private keys, the public one which is of the account or user’s wallet and the private key that is known only to the owner and is used just like a confirmation of the transactions.
Fund transfers using cryptos are processed with minimal or no processing fees, which makes it a cheaper alternative to the banks.
Currently, there are several types of cryptocurrencies available in circulation. Every few days, a new currency comes up due to the sudden hike in the transactions of cryptos. Some of the best cryptocurrencies to invest in are listed below for you:
You surely would have heard of something called bitcoin. It is the most prominent and grand-daddy cryptocurrency available out there. The value of these currencies keep varying every day and as of today, Bitcoin i.e. the original cryptocurrency still holds the biggest market share nearing around $125 billion. Launched in 2009, and was designed by Satoshi Nakamoto.
Introduced in 2015 only, Ethereum has gained importance significantly over the years and is on an ever rise with market share next only Bitcoin. With a value of more than USD 1,300 in 2021, it is one of the trendy cryptocurrency out there.
One of the most popular cryptocurrency, the biggest difference from Bitcoin is the block size i.e. 8MB. This essentially means faster processing speeds for transactions.
Also Read: Best Online Trading Platforms In India To Get You Through The Stock-Life At Ease
Ripple, the invention of Ripple Labs, is specially taken care of during high speed and low-cost money transfers. In 2017, Ripple saw a humongous increase in its value of 36000% but in the upcoming years, couldn’t keep on track.
Gaining popularity currently is EOS with the transactions on the network being free and quick simultaneously. It is the most actively traded and better scalable than other competitors.
Having a bright future and faster transactions than Bitcoin, Litecoin is on the bullseye of long term investors. A different type of algorithm is to be credited for its faster transactions.
It hugely focuses on money transfers and its network is built for faster and efficient transactions across national borders. It was found in 2014 by Jed McCaleb, co-founder of Ripple and is managed by Stellar.org.
Cryptocurrencies are a well of huge opportunities. If used and handled well, they can be quite advantageous to people such as preserving value against inflation and all these transactions being outside the notifications of banks and other organisations.
Also Read : What do you think, which currency is the most expensive in the world today?
The cryptocurrency market has seen an immense boost since the beginning of the 21st century. For example, Bitcoin has grown leaps and bounds to more than USD 54,000 in 2021 and has turned out to be one of the best cryptocurrency to invest in. But they don’t always grow, they can suddenly go down which can lead to a loss. For these reasons, economists believe these as a short-lived fad or speculative bubble.
The questions arises here that which is the best cryptocurrency to invest in? There’s no such thing called as best, but the one which has a low risk involved in transactions, is more secure and has higher stability is much better for investments. One can surely use his/her knowledge of finance and trading and can use the best cryptocurrencies to invest in and use it to the best of his advantage.
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