Today, multiple digital currencies are existing in the market. Each of these is striving to catch hold of the market and gain at higher levels. From either consumers’ point of view and the owners’ point of view, it is difficult to come with new and also choose the best one.
Every other digital currency is an improvement to the existing ones. But narrowing down on one to use is a difficult task. It needs that vision, that anticipation kind of knack to get that one digital currency out of the available.
People are going ahead with the usage of the cryptocurrencies. They are thinking to invest in the same. Since there is no official or government support to this, the trading of crypto assets or investment is solely up to one’s vision and discretion.
To clear all the confusion, here is a list of top cryptocurrencies with their logics to invest in. Find the one that resonates with your purpose and logic.
Understanding the Concept
Before getting into the list, one needs to understand in brief what the underlying technology behind the same is. It is the blockchain technology. This allows us to add or store the transaction carried out with the help of cryptography. It is a public ledger wherein editing or deleting is a difficult or impossible task. One can add it by validating the mining.
Based on this technique, the worlds’ first currency known as Bitcoin was launched in the year 2008. Since then it has been no looking back. Many firms, businesses, and people are coming up with such digital currencies to trade and transact in the same.
Choosing one out of the existing could be a challenging task. You have access to thousands through exchanges and systems like Bitcoin Loophole. Here is where our go-to guide can let you know about choosing one.
Narrowing Down on One
There are various factors depending upon which one can arrive at a decision. Out of the market capital statistics, the present working there could be a decision. It could be the average transaction or process that could lead to making a decision. So here is the list:
Bitcoin: This is the first choice for many people. The reasons are pretty clear. Firstly, it has withstood the test of time. It has seen all kinds of reactions of people and the market. It has been bearish and bullish. It is comparatively easy to use and does not involve any fiat currency to lead to any illegal or fraud.
The consensus mechanism is proof of work, which makes the whole process comparatively slow. The mining also requires validation. The blocks cant be easily edited and remain open in the public domain.
Ethereum: This is the second most traded digital or cryptocurrency in the world. Being fast, more secure, and providing better opportunities for developing applications.
It was launched in the year 2015, so it has also seen the market go bearish and bullish. The average transactions per day are also high for its coin ‘ether’. It has this backing by various multi-national companies like JP Morgan, Microsoft, etc. Further, the development of the underlying technology has been strengthened by the Enterprise Ethereum alliance. This imparts some credibility to this digital currency.
Ripple: This might sound offbeat but the thing is that it is a stable coin than others. It is touted to be a low-risk coin, giving scope for maximizing your profits.
If we consider the amount of volume garnered by this digital currency, we can easily find reasons for it being to be stable. It has got around $800 million daily volume. The kind of systems employed out of the blockchain technology used here makes it a better payment gateway. It is closer to the real financial transactions and can soon be an alternative to the existing systems like SWIFT.
Considering the price levels, the ripple is gathering a lot of attention by working on their users. It is getting more multinationals to use their technology which hints towards its rising prices in the near future. So given its expected future growth, this could surely be the best cryptocurrency to look forward to.
Litecoin: It is a companion or says complementing digital currency of bitcoin as it is more commonly known as bitcoin-lite. It was founded by Charlie Lee in the year 2011. It makes use of the sole payments use-case which is its USP. This is the reason behind its great volume and usage.
It is quite speedy as compared to its other counterparts. It is also a decentralized system like bitcoin using the open-source methodology. Much has to be done and is being done as far as the technology is concerned. This coin is backed by the Litecoin foundation and is dedicated to making future payments easily with the help of this coin.
Binance: This is usually known by the name Binance coin or BNB. It was launched recently in the year 2017 but has become quite popular in the short span of time. It is the native digital currency of Binance exchange and waives off the fees while trading using the Binance exchange fees.
The amazing part is the temporary nature of the coins. One can redistribute one’s coins in the form of buying or selling the coins every quarter. This allows people to invest in a short time manner. This becomes an easier way for users to trade.
Hundreds of digital cryptocurrencies exist today. They could be Dash, Monero, Tezos, Tron, Stellar, etc. But trading in only those will help which have withstood the changing market times. Also, there are few which will keep coming up and down the charts.
But investing in the one that has some future and would be stable will make sense. The unpredictability of this system as a whole makes it quite difficult for people to choose.
But now it must have been easier for you to narrow down on one, based upon your purpose and logic. This will help you to get great returns and make use of the dividends in the desired way.
Cryptocurrencies are something that will continue to be the talk of the town. Also, firms and businesses will continue to back them or use them despite any legal backing. There will be another set of firms which will keep earning profits by coming up with more and more cryptocurrencies.
So choose the one that seems to give you a far enough return with a fairly easy process to carry out the transactions. Hoping for a bright, safe and reliable digital future.
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|Support Types||Email, Chat
|Minimum 1st Deposit||$250|
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|Deposit & Withdrawal Methods||Visa, Maestro, Master Card, Diners Club, SWIFT|
|Number of Assets||100+|
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