Cryptocurrency seems to have taken over the world. Not just that, but the more you look into it, you realize that it has the potential to change the way we not only look at money but also at art and investments. Every day we hear about a new ‘Bitcoin millionaire’ or the likes of such.
Today many people think they have lost the window to invest in cryptocurrency because of how popular it has become, and that it might not show more gain than this. But, that’s simply not true. It is still at a very nascent stage of development and adoption when compared with our traditional financial assets.
So in short, it is still a great time to invest in crypto, no matter what. Given that it is soon going to change the art world, and many other ways we trade different services, you cannot go wrong with this.
So does that mean it is foolproof? Not quite.
The crypto market is one of the most fluctuating markets in the history of trading. One day you might be up 200% and down 300% the next. But the key is to do a good amount of research before you invest in any coin. That is exactly why we have compiled a list for you to keep track of relatively safer coins to invest in, which might be a promising tech of the future.
The way you should approach this is not just to make money, but to have a stake in the future technologies which will change the way you or your kids deal with money. This means that for each coin that you buy or invest in, you must believe in it. This is why it is important to make sure you know the applications of each coin that you buy.
For instance, Ethereum is one of the major blockchains that are used to trade NFTs and many other tokens. This means that ETH has a real-world application. Similarly, Chain Link is a coin used in supply chain management. This means that if you think the supply chain industry right now needs this new coin/innovative trading system, you should invest in Chain Link.
Now let’s look at some coins, shall we?
1. Bitcoin
The original cryptocurrency that started it all, Bitcoin (BTC) is one of the first choices for anyone who is getting into crypto. When Satoshi Nakamoto invented Bitcoin, it was still relatively new. Many people had shrugged it off as an ‘imaginary’ currency. But what made it fantastic was its applicability in the real world.
We saw the transactions had now become anonymous and didn’t need a bank or administrator to intervene in between the processes. This meant that buyer/seller privacy was upheld to the highest standards.
El Salvador recently announced it would use Bitcoin as a general stream of currency that can be traded for real-world objects. Since the May 2020 halving, the bitcoin price has increased by approximately 300 percent. Earlier halving events in 2012 and 2016 resulted in 8,000 percent and 600 percent price increases, respectively. The half of the incentive paid to miners, which also doubles the investment’s stock-to-flow ratios, appears to have a substantial impact on Bitcoin’s price, among other things.
2. Ethereum
Ethereum (ETH) is a decentralized, open-source blockchain. It allows users to create smart contracts to keep track of the transactions inside the blockchain. The network’s native cryptocurrency is Ether (ETH ). Ethereum is the second most valuable cryptocurrency after Bitcoin in terms of market cap.
Vitalik Buterin, a developer, created Ethereum back in 2013.
The network became live on July 30, 2015, after crowdfunding as the developmental work began in 2014. It has huge applications in decentralized finance and NFT markets. Not just that, but because Ethereum is the most popular coin after bitcoin, many trades and services have started taking ETH as payment, or even using the blockchain to run their services.
DeFi is one of the most popular ETH-related services where you can lock up your funds for a while to accrue interest on them. It is the crypto equivalent of fixed deposits in traditional banks.
3. Cardano
Cardano (ADA) is a proof-of-stake blockchain platform, that is founded on peer-reviewed studies and created using proof-based methodologies. It integrates cutting-edge technology to create decentralized networks, systems, and communities with unrivaled safety and long-term viability.
It exists to shift power from unaccountable institutions to individuals – and to be an empowering force for good development and reform, with a top team of developers on board.
4. Dogecoin
Dogecoin (DOGE) was established to be plentiful, unlike Bitcoin, which was supposed to be limited and hence is mostly immune to ginormous inflation. There is around 130 billion DOGE in circulation now, with miners producing 10,000 every minute.
Dogecoin was established as a fun Bitcoin alternative, therefore abundance is important. DOGE attracted a passionate online community almost immediately after its inception in late 2013 when it was notably utilized to assist send the Jamaican bobsled squad to the 2014 Winter Olympics in Sochi. Then later on in early 2021, it began getting used to giving tips on online Twitch streams.
5. Binance Coin
Binance Coin (BNB) is a cryptocurrency that is used to pay Binance cryptocurrency exchange fees when we do any transaction or trade on the platform. On the marketplace, payments made in Binance Coin are discounted.
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