With the numerous Cryptocurrencies being, how does an investor adjudge which crypto to invest in? ICOs can also be problematic and few coins are at risk of disappearing. Recently, the SEC has begun to investigate ICOs and each of the companies that offer them. Despite the huge volatility in the price of cryptocurrencies, people are stable and zestful in investing in them. While this can be a toilsome one, you can lose all your money or even 90 percent of your invested value overnight. But if seen, it is capable of paying. Based on ability and current usage, we have examined the 5 most popular cryptocurrencies. These cryptocurrencies in general have been around a few times as well. If you are interested you can Diverse ways to invest in Bitcoin.
Below is a list of the most popular cryptocurrencies that will help you invest in crypto easily and you can also take a look at crypto savings accounts. Before venturing into the world of crypto, you need to note that to transact and use crypto, you must have a digital wallet.
Bitcoin (BTC)
In terms of market cap and popularity, BTC leads the way as well as being the coin with the most headlines. Whenever one hears of the word crypto, most people focus on BTC. Bitcoin has turned to crypto for many investors because those who suffer the volatility of BTC are aware of every advantage it has. Once the 21 million BTC has been mined, no novel coins will ever be generated. If viewed from a supply/demand point of view, it can be beneficial for long term investors. In addition, BTC is the base currency that must be purchased if you wish to receive some other currencies. Many others among them cannot be bought with just USD – you may need BTC as well.
Ethereum (ETH)
If we talk about Ethereum, it was initially seen as a cryptocurrency. And it was to be seen as a major currency like BTC in today’s time but it did not succeed. Although ETH has provided some corrections over BTC.
Litecoin (LTC)
Talking about Litecoin’s infrastructure, it generally sees similarities to BTC. If we talk about the transaction fee of LTC, then the fee charged in it is very low, the transaction fee is given up to $0.35. If BTC is compared to LTC, it has more TPS. Each minted coin made available with LTC is limited to a limit of $81 million. This means that it is likely to see an increase in its prices depending on the future demand with LTC.
Solana
It exists as a growing competitor to ETH, with over hundreds of DeFi and Web3 related projects on its platform, which are slowly emerging. It has managed to focus on being a faster and cheaper alternative to ETH while allowing smart contracts and other features. Speaking of Solana’s popularity, it continues to grow for online use in NFTs and other projects. However, since its use and applications have improved, its price has also increased.
Monero
Monero can focus on the anonymity of each transaction that takes place in the blockchain. Different algorithms are used by crypto to accomplish this. Monero is more technologically advanced to keep transactions completely anonymous. Monero is most useful for users who want to keep every transaction private from regulators. If regulation is successfully navigated by it, it is on top of crypto in maintaining privacy.
