Which Cryptocurrency Is Best? – Making Sure Investments
Nine years ago, Bitcoin is the only cryptocurrency we have in the world. But currently, there are at least 1500 types of cryptocurrencies in the market. With this growing number, no wonder why investors constantly ask which cryptocurrency is best to put their money on.
In this article, we have provided a list of the best cryptocurrencies that is almost a foolproof investment. Read this to help you what makes them good and why investing in them is practically no gamble.
There are certain characteristics common to good investment cryptocurrencies. All of which lead them to one thing – stability. Stability means that they will continue to rise in value and are least likely to disappear in the market for the next couple of years.
Stability is commonly achieved by either of two things – one of which is when they are widely used by general consumers. There are certain organizations that continuously survey the number of users of a cryptocurrency and characterize this as its liquidity. Another is that when they cater a special market that rely on this cryptocurrency. It occupies a strong niche when its creator has successfully designed and utilized it as a tool for innovative change.
Bitcoin, Litecoin, Ethereum, and Binance Coins summarizes our list to answer which cryptocurrency is best. Find out what makes these the best cryptocurrencies in making such good investments.
The one that started it all – the Bitcoin. Of course, Bitcoin is topping this list on which cryptocurrency is best. This widely known crypto remains to be the king of cryptocurrencies. For some people, they even heard the word “Bitcoin” first before the term “cryptocurrency”. That is how popular this is. It consistently has the greatest number of users up to this date. Its main goal upon its inception is to become a global digital cash and they did just that.
With its wide usage, you will have no problem in trading Bitcoin. Someone is ready to match your offer almost every time. They are known to be the most stable cryptocurrencies. The best thing is that experts do not see a plateau in its value just yet. Therefore, it is expected to still appreciate for the years to come.
In 2011, Bitcoin has a peak value of 32 USD. This year, it is valued at around 20,000 USD. Some experts project that it can appreciate up to 50,000 USD by 2021. Let these numbers speak for themselves.
Litecoin is the silver to Bitcoin’s gold – this is how Litecoin founder Charlie Lee describes his motivation about this cryptocurrency’s design. It features the best characteristics and of Bitcoin and modified some troublesome ones for certain consumers. Compared to the 10-minute transaction time of Bitcoin, Litecoin are less than 3 minutes.
Litecoin demands lower computer specs for mining. Chances are, your own PC can even do it!
The powerful and intellectual features of Litecoin have led it to become one cryptocurrency that has a big market and a large community. With a supply ceiling of 84 million and a high block reward of 25 LTC, Litecoin is one of the best crypto coins to invest currently. Experts say that this cryptocurrency will definitely continue to make its name for the years to come.
Decentralization of currency if one of the main motivations of cryptocurrency’s inception. Not only Ethereum does that, but it took a step further and introduced a way to decentralize the internet by creating worldwide system of nodes that can replace servers. To simply put, it aims to innovate technology by creating one computer for the whole world.
Ethereum is the one responsible for the continuous popularity of smart contracts. It allows developers to launch desktop and mobile decentralized applications behind blockchains, opening a wide window of opportunities and possibilities for the digital arena. Millions of developers and companies will continuously need Ethereum to support their contracts and applications for the years to come. This is what makes it a strong and smart investment.
If the above reason is not good enough for you, you should know that Ethereum also hits the second spot, next to Bitcoin, in being the second most liquid cryptocurrency, meaning, investors will have no problem in trading them. With all these characteristics, Ethereum definitely deserves to be in the list answering which cryptocurrency is best.
Another innovative cryptocurrency is the Binance Coin. Like a typical cryptocurrency, you can buy and sell it, but its unique and most loved feature is that it also allows you to convert one type of cryptocurrency to another using the Binance decentralized exchange, or DEX. To help ensure Binance Coin’s stability and growth, DEX offers discount to those consumers who use it as transaction fees.
The above characteristics is a testament to how good the creators of Binance Coin are. They have the skills and the resources. With its utility design, its volume has consistently grown. As a matter of fact, it has tripled its size earlier this year. You will have no problem with its liquidity, too. It belongs in the top 10 most liquid cryptocurrency on CoinMarketCap. Learn more about the best cryptocurrencies here!
The best cryptocurrencies are managed by the solid teams behind them. The genius creators, their intelligent strategies, and use of wide resources are the foundations of their stability in the market. As a common law in the world of business, most profitable items are the ones who are widely used and/or the ones who has established itself in doing a certain niche. Certain types of crypto creators have even accomplished the extra mile in introducing innovations that people did not think about, until it was already in the market.
As the final answer to which cryptocurrency is best, Bitcoin remain to be the top choice. However, all the types listed above – Bitcoin, Litecoin, Ethereum, and Binance Coins, are all considered by experts as safe and strong investments. It is wise to split your capital among one or two types.
So now, if you want to put your money on a low risk, choose among these and start your venture.
UPDATED April 3, 2021
By: Lance Richards
There are many established cryptocurrencies today, crypto companies such as Bitcoin, Ethereum, and Ripple.
UPDATED February 3, 2021
By: Hunter Shultz
Cryptocurrency has recently become the talk of the town. Many are saying that it will soon replace fiat currencies, which, if will happen, will undoubtedly impact everyone’s life.
UPDATED February 3, 2021
By: Jedi Reed
Things in the trading market move fast, even faster in the crypto world. Factors that can affect the price like demand, government regulations, the launching of a new currency, among others.