It is one thing to know what cryptocurrencies are, and it is a different ballgame to understand how to invest in them. Crypto currency is all the rage today, and everyone wants to know what is in it for them. Is it safe? What is the gain? Is it better than investing in the stock market? What are the methods for a safe investment?
There is a myriad of cryptocurrencies worldwide, and more are springing up as the days pass. But it is not every cryptocurrency that flies by that you should give your attention. As you may know, some rank higher on the scale of value and importance, and hence preference, than others. Therefore, you must know the coins that are worth your money.
According to CryptoMinati Capital, “it is vital to invest money you don’t mind losing”. There is no intermediary to check the regulation of cryptocurrency. No government or body tells you how to use your coins or tokens or where to trade with them. It is usually worth what the users and investors say it is worth and usable in any manner. As great as it may sound, that makes it pretty unreliable. Top 5 Best Cryptocurrencies For First-Time Investors & Marketcap In 2021 [Loved By Redditors]
We picked these coins based on the overall value of the ones in circulation and their security against insider trading. Though you can trade in these cryptocurrencies through crypto.com #1. Bitcoin (BTC): Decentralized Store of Value
When you hear cryptocurrency, the word that may come to your mind is bitcoin. It is arguably the most popular currency, but that is not just because it came to the scene before others. Bitcoin was created back in 2009, and since then, it has gained prominence. It has a market cap of more than $1.7 trillion. The currency is safe because it uses a blockchain that relies on cryptography.
With cryptography, bitcoin transactions are irreversible, and data security is solid. In other words, it is difficult to break through the barrier.
Another reason we chose bitcoin is the fact that it is public. While it does not exactly instill confidence, it should. The public status of bitcoin transactions means anybody can see it without knowing the people involved. That way, it is harder to cheat the system.
Right now, bitcoin seems the most valuable cryptocurrency on the market. Many stores and companies that accept cryptocurrency as a valid form of the transaction are more willing to use bitcoin than others because of its value. One bitcoin goes as high as about $60,000. Investing in it is expensive, but it may be worth it in the long run. #2. Ethereum : Blockchain With Smart Contracts
Non-fungible tokens (NFTs) enjoy using ethereum because of the different ways you can potentially use it. The same is true with automatic smart contracts. Ethereum is not just a cryptocurrency, but it is also a blockchain. That is what makes it so attractive to program developers.
Ethereum made our list because of the value placed on its technology. It is not just about how much you can get for it; it is also about what you can do with the Ether technology. Ethereum-developed apps are springing up, even from reliable financial institutions. As it stands, more are coming on the Ethereum platform.
The cryptocurrency is more affordable than bitcoin, coming in a little over $4000. Plus, it has a market cap of $520 billion. But that does not mean it is any less valuable than bitcoin; its intrinsic value puts it ahead of the more valuable currency.
Much like bitcoin, ethereum has the potential to triple in value with time and use. And the value is not just about its use as a means of exchange. There is a high chance of ethereum gaining ground on bitcoin due to its potential for applications. So, if you are wondering whether or not you should invest in ethereum, especially as a newbie, you are welcome. #3. Binance : Largest Crypto Exchange
Binance exchange is vast, one of the largest exchanges in the world, and it has developed its own coin. Back in 2017, when it first launched, the coin was only good for use within the Binance exchange. You could trade and pay different fees on the platform. But now, you can also use it for payment when you want to travel and other transactions. You can even trade or exchange it for other cryptocurrencies such as ethereum or bitcoin.
In other words, if […]
source Best Cryptocurrencies To Invest & Explore In November 2021
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