Digital assets — specifically cryptocurrencies — have the capability to provide access to banking for millions of people across the world who originally wouldn’t have this opportunity thanks to its decentralized technology. From small companies to corporate giants, cryptocurrency investment still continues to gain acceptance from a large number of companies who comprehend that digital forms of payment may very well just be the future of finance.
Cryptocurrency investment offers very lucrative returns for investors. Their growing popularity implies, major cryptocurrencies such as Bitcoin, Ethereum and others are here to stay for long.
To actually purchase and sell cryptocurrency, one must use an exchange platform to get started. Most exchanges offer several cryptocurrencies to invest in while some only offer a few, thus, choosing the accurate exchange to use is the first significant step in potentially investing.
There are a wide variety of cryptocurrencies to choose from, but when it comes to cryptocurrency investment. Building a portfolio relies heavily on personal choices and preferences along with individual goals, but one key trait that all successful portfolios have in common is that they’re relatively diversified. Diversification is one of the most crucial rules of investing in all industries, thus cryptocurrency is no exception. Just like any other market, cryptocurrency comprises of diverse types of assets which can move independently of large players like Bitcoin. In order to construct the best portfolio, one should invest in many different kinds of coins to diminish the risk and ensure reliability and profitability.
Today there are more than over 2,500 active cryptocurrencies, most of which serve as more than a simple payment system. Below listed are the best cryptocurrency to invest.
Bitcoin (BTC) is the first and most well-known cryptocurrency. It’s been around for almost 10 years and has been hailed as the “digital gold” of the industry.
It was created in 2011, Litecoin (LTC) was introduced as the “silver” to Bitcoin’s “gold.” It was intended to be used as a lighter, more lively as a currency for everyday transactions. However, Litecoin is a replica of Bitcoin, just on a much smaller scale — it’s faster to mine, holds a smaller value, has a greater market cap, and operates on a much more flexible algorithm.
XRP by Ripple
XRP is the cryptocurrency released by Ripple. Founded in 2012, Ripple was formed to speed up and perk up cross-border payment transfers and the global payments system as a whole. XRP was designed by Ripple to function on a unique blockchain that validates its transactions over 200 times faster than Bitcoin.
The Ethereum network hosts together a decentralized computer system and payment system, through its main token, Ether (ETH), along with a handful of others. Ether can be traded as a cryptocurrency, but it’s more commonly used to pay for transaction fees and services on the Ethereum network.
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