For the Cryptocurrency investor, the question of which Cryptocurrencies to buy is an important one. 2021 was an important year for Cryptocurrency with Bitcoin achieving an increase in value of two thirds within one year. Bitcoin is not the only strong performer when it comes to cryptocurrency. Different cryptocurrency offerings have a range of possible advantages when it comes to investing and should not be ignored. Bitcoin has an impressive market share and brand recognition, other coins may prove to be superior in the longer term as advances in technology and the effect cryptocurrency has on the world are incorporated in newer crypto coins and tokens.
Remember that Cryptocurrencies are in a highly volatile investment sector that may not be suitable for all investors. Give yourself the best chance to be successful and learn crypto to become a better investor.
There are currently approaching 10 thousand Cryptocurrencies with more being released every month. It is not easy to select the best cryptocurrency for your investment.
Bitcoin was the first cryptocurrency; it has proved its worth and has been the best performing cryptocurrency for a decade. With a market cap of more than 150 billion US Dollars, it is the biggest and most liquid Cryptocurrency at the moment – more businesses around the world accept Bitcoin than other Cryptocurrencies. Bitcoin is limited to 21 million Bitcoin; the vast majority of these coins have now been mined. Bitcoin is split into smaller units, much smaller units. Satoshi as they are referred to are one 100millionth of a Bitcoin. Bitcoin has been used by Wall Street investors to curb inflation and is the most mainstream of all Cryptocurrencies.
Ethereum has made its impression on the Cryptocurrency industry with its implementation of Smart Contracts. From its launch in 2015, it has gained significant ground over a short space of time, with only Bitcoin ahead of it in market capitalisation.
Ripple is a cryptocurrency with a purpose. Its advantage is shown in its ability to provide fast low-cost money transfers from one country to another. This gives it a real-world application, something many Cryptocurrencies have little hope of achieving any time soon. Ripple’s market capitalization is a lofty $10 billion this alone should indicate the impressive credentials that Ripple has achieved.
Litecoin is in the top tier of Cryptocurrencies by market capitalisation and is hotly traded. It has maintained momentum and shown good growth. It features a fast algorithm that reduces transaction times in comparison to other Cryptocurrencies.
Cardano is a cryptocurrency that was developed to give scalability and sustainability while being easy to use. Developed by Etherium’s co-founder Charles Hoskins, it uses smart contracts and has grown market capitalisation over the billion-dollar mark.
EOS is one of the most promising Cryptocurrencies to adopt Ethereum’s smart contracts facility. EOS has experienced rapid growth and an increase in popularity. This is partly down to the transactions being free. It has yet to generate the investor returns seen in other Cryptocurrencies but with a market capitalisation of more than 3.5 Billion US dollars, it is a future star in the making.