Cryptocurrency is a great digital asset to be considered for investment. More than 4,000 cryptocurrencies are there, and many are not aware of it. Considering that, it can be difficult to pick the one worthy of investing. Choosing the right digital currency can give you a longer and quick return on investment. Here are the best choices to maximize profits from investments.
Bitcoin has dominated the digital market since January 2009, and in 2017, Bitcoin hit a high of more than $20,000 in December. Compared to other altcoins, it has brought the dominance index to 65 to 70%. That’s why it has one of the largest market capitalizations. In January 2021, the price surged to more than $40,000 for a market cap of more than $1 trillion. It stated 69% of the cryptocurrency market and Bitcoin Code has a share of volatility. In the cryptocurrency world, it is the biggest name and the best one to consider for investments.
- Bitcoin Cash (BCH)
Cryptocurrencies are predicted on blockchain technology, storing the information within blocks of data. It can contain one megabyte of data, and as the currency grew in popularity, the data blocked started filling up. It has led to an increase in transaction fees and slowing down bitcoin transactions. The developers came up with a solution reducing the amount of data, following which Bitcoin Cash was created. These are blocks storing 8 MB of data and are not less popular than Bitcoin. The scalability shows it has incredible potential growth, so you can consider investing.
Litecoin is the next choice after bitcoin, and the network is less expensive and easier to keep up. It is less resource-intensive, and as of November 2020, 84 million litecoins mining approximately 65 million. It has greater usability, and the speed is four times faster than bitcoin. It is said that the payments are received as quickly as a Whatsapp message and have a lower fee.
Introduced in 2012, it is a digital payment network and a cryptocurrency. Ripple’s XRO coins are also a better choice and are designed by Ripple Labs. It is not mined like ethereum or bitcoin, and many consider it as an advantage. According to experts, cryptocurrency is another best option to invest in in 2021. It has the most potential and a rapidly expanding network. With solid technology, it has opened doors for payment networks and international banking.
- Ethereum (ETH)
The goal of ethereum is to decentralize money by replacing servers with a worldwide system of nodes. It is a software platform based on blockchain technology through which users can exchange ether, a cryptocurrency. It has become a popular option with a market cap of $139 billion, putting in the second rank after Bitcoin.
Ready for investment
Now that you have the valuable insights, hopefully, you can decide where you should invest. A few things to consider before you start are picking a crypto wallet, registering with a crypto exchange, research thoroughly, and automating the trading account.