Cryptocurrencies were terrific and did an excellent performance in 2020, and it is still advancing to entice more investors in 2021. You might be wondering where to invest, what are the ways for productive investment, and what cryptocurrency to buy now.
For beginners, it will be challenging to find the best cryptocurrency to invest this year for the reason that it is confusing, but don’t sweat it, this guide will help you understand and choose the best cryptocurrency to spend your money.
Bitcoin was the first cryptocurrency in 2009. And the name of the pseudonymous developer is Satoshi Nakamoto. The market has no idea what’s the real identity of Satoshi Nakamoto, but because of Bitcoin, he becomes famous, and it opens up the way for other digital currencies.
It guides the expanding welcoming of cryptocurrencies for an investment opportunity and as a mean of exchange, to secure money transfer from one owner to another digitally and not needing the use of traditional banks.
The purpose of cryptocurrencies is to be a substitute for money, an alternative currency, and It is also a way to prevent the risk of government seizure. Greece, for example, this country has a 45% income tax rate, seizes lots of bank accounts per day. Here’s a list of the best cryptocurrencies to invest today.
If you only know about one cryptocurrency, then probably it’s Bitcoin. The biggest and oldest cryptocurrency and still dominates the market. Currently has a 40%i share in the total market cap and continuing to increase just like in 2017, then it might be a good idea to invest in Bitcoin in 2019.
Bitcoin’s prices vary a lot every day, and just like over the last few years, there are many high and lows. In December 2017, Bitcoin’s price went from around $76 to as big as $20,000. After reaching its highest point, the price lowers to about $6000 in February 2018 and continues to drop further even since.
Litecoin is one of the best cryptocurrencies to invest in 2019, its performance in 2017 was tremendous, and its growth is almost 8000%. Litecoin’s price went high from around $4 in January to $358 in December 2017. In 2011, they created Litecoin to improve upon Bitcoin’s technology.
Litecoin can complete a transaction for about four times faster than Bitcoin. Litecoin’s maximum coin is at 84 million, which is four times the coin supply of Bitcoin. This cryptocurrency is the first to do a Lightning Network transaction way back in May 2017, and using this network can increase the value of the Litecoin.
This cryptocurrency is also known as XRP. And one of the best among the top-performing cryptocurrencies in 2017, with a growth of around 36,000%. It’s amazing how it grew from $0 at the beginning of 2017 to $2.4 in December 2017. Just like the other cryptocurrencies, Ripple’s price dropped in 2018, and it is currently at $0.36.
Ripple could still be an option if you want to invest in cryptocurrency. It is still the third-largest cryptocurrency by market cap even if its price is lower than the cost of Bitcoin and with around $35 billion total market cap. Not only in digital currency, but it’s also the payment system that made Ripple famous. They use the blockchain system technology to have more secure and faster international payments.
Ethereum has around $70 billion of total market cap, and the price was a little higher than $720 in December 2018. Ethereum’s price goes up, and it’s the highest at $1423 on January 4, and by that time, the total market cap was at $138 billion. It grew by about 3000% in 2017, and it’s the second-largest cryptocurrency just behind Bitcoin.
If you’re going to ask yourself if you should invest in Ethereum, or is the price at its peak? The answer is no one knows. But if you research more deeply, then you’ll find the right solution, and you’ll see if it’s good to invest in Ethereum. It’s not just a digital currency, and it is a more recent blockchain project.
Ethereum also offers something more unusual, it can help developers create their cryptocurrencies. Thanks to this cryptocurrency, no more starting from the beginning, you can just create an app on Ethereum’s blockchain.
Cryptocurrencies are still in the development period. If you’re a newbie to cryptocurrencies, always be careful when investing and be cautious of the risks that are present. You should only spend after doing your research on the extensively traded cryptocurrencies.
According to the reports from robots.net a lot of investors have found themselves in a rough position of finding a way to exit. If cryptocurrencies don’t fail, there will be lots of opportunities that will exist between the traded currencies, while reducing the risks because of a lack of liquidity.