Choosing the Best Cryptocurrency for Investment

Choosing the Best Cryptocurrency for Investment

by October 19, 2020
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Since its inception, people have always had different opinions about different ways to buy bitcoin, cryptocurrencies, performance, and credibility. Despite all the debates and discussions, new cryptocurrencies keep emerging.

It is expected that newbies won’t know their way around when it comes to investing in crypto. This article will take you through the process (whether as a newbie or pro) of investing in the best cryptocurrencies.

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This complete guide on cryptocurrencies will give more insight into cryptocurrencies.

Investment is the best way to become financially free, and you might be considering Bitcoin, Ethereum, or any other coin as the perfect option. At the end of this article, you will also learn about the best cryptocurrency you can invest in and how to buy bitcoin and other cryptocurrencies.

Having a good understanding of the history and the current trend is crème. Additionally, getting news from a reliable source will also help.

The crypto market: What was it like in the past?

We saw the invention and emergence of the first-ever crypto in 2009 when Bitcoin was invented. Only a few people were aware of BTC then and knew how to buy bitcoin. But in 2013, it came into the limelight. Nobody ever pictured bitcoin growing this big today. Since coming into the spotlight, the growth has been massive, and we now have 1500+ cryptocurrencies in circulation.

The crypto boom happened in 2017 when $21 billion worth of crypto was in circulation. But today, $454 billion worth of crypto is in circulation.

The good news: we don’t just have one coin; others like Ethereum, Ripple, and Litecoin also exist. All the coins listed above are all good enough to make this list. This article will list and highlight important features and why these cryptocurrencies are worth it.

People say different things about how long they will last and their credibility. The bitter truth is that the crypto market is made exclusively for investors and believers. The same way tomorrow is uncertain in real life, the tomorrow of cryptocurrencies is uncertain. The major reason for the popularity is the blockchain technology.

Here are three of the best cryptocurrencies you could invest

Bitcoin (BTC)

remitano bitcoin

image credit: Unsplash

When most people hear the word cryptocurrency, they automatically assume it is Bitcoin. Their assumption is justified considering the fact that Bitcoin is the mother of all cryptocurrencies and the largest. Bitcoin dominates around 40% of the total market capitalization of cryptocurrencies. Looking at the rate at which Bitcoin is currently moving, there is no doubt that it will remain the top on the list for cryptocurrencies to bet your money on.

The prices of cryptocurrencies are volatile, which is why there are no fixed prices. It is always going up and coming down. As of 2015, 1 bitcoin was worth $76, but by December 2017, the price increased to $20,000, and now it’s around $11,000. Nevertheless, the price of Bitcoin is always fluctuating.
Looking at the fluctuations of Bitcoin, the question that usually comes to our mind is, why is the price always fluctuating, and when exactly is best to invest?

There is no specific answer on when it is best to invest. However, some notable events will assist you in considering when you should buy Bitcoin. A good instance is August 1st; this was Bitcoin split into two ( Bitcoin & Bitcoin Cash). Everybody that invested before then got nearly a 100% interest on their investment.

Before investing in Bitcoin, you must always get accurate news on Bitcoin and others. In the case whereby there would be any technical development, you should consider investing in Bitcoin. And if there happens to be a massive price fall, you can also buy Bitcoin.

The best time to invest in Bitcoin was when it wasn’t popular; the second-best time is now. The only thing you need to have is to believe in Bitcoin. If you don’t believe it, don’t consider investing.

You can buy bitcoin with your credit card on cryptocurrency exchanges to get started.

Ethereum (ETH)

In December 2019, the total market value circulation of ethereum was approximately $720. Likewise, the value circulation in total today is around $70 billion. However, Ethereum’s price was highest in early 2018, which was $1423. As of this time, the total market value circulation for cryptocurrency was about $138 billion. Checking back to how the growth of ethereum significantly increased with about 3000%, this made this cryptocurrency take the second largest coin in the crypto market.

remitano ethereum

image credit: Unsplash

Besides, it is quite possible that you still have a doubting mind as to whether ethereum is worth an investment. But the fact is that even the future is not promised. And nobody can undoubtedly predict what tomorrow holds. What is more important is to keep yourself updated and informed about the increase or decrease in prices of cryptocurrencies.

Another good news about ethereum is that it goes beyond just a cryptocurrency. Ethereum is technologically advanced to create other cryptocurrencies called DeFis which are the rave of the moment. This is another good reason for you to see investment in ethereum as a hot deal.

Learn more about DeFis and how they work.

Ripple (XRP)

remitano ripple

image credit: Pixabay

Ripple grew to about 36,000% in 2017, and it contended for the best cryptocurrency. Are you surprised to hear the percentage growth? You must be regretting why you didn’t invest in Ripple that year. Well, like every other cryptocurrency, Ripple also experienced a price fall. Despite the price fall and low price of Ripple, using the market cap, it is still the third-largest.

Investors choose Ripple because it doesn’t serve as a digital asset. It also works as a means of payment that makes international transactions fast and secure. Usually, international bank transactions take more than two days, but with Ripple, transactions happen in seconds. Another important news to add is that reputable banks like Suadi central bank and other financial institutions use Ripple protocol to move money around the world.

Conclusion

If you are thinking of investing in crypto, Bitcoin, Ethereum and Ripple are good options. There are many other altcoins that you can invest in apart from the major digital assets mentioned here.

The Decentralized Finance space is very lucrative at the moment, you can check out this article to understand the increasing popularity of DeFi.

It is an undisputed fact that there is a huge profit in cryptocurrency investment, but be ready for losses too. You might not always be right with your predictions. Only invest when you are not scared of losing.

Another important information is to ensure you invest in a decentralized platform like Remitano that allows investing easy for both beginners and professionals. Remitano is one of the most reliable exchange sites you can consider. The process is easy.

  • Go to Remitano
  • Register an account for free
  • Select your preferred cryptocurrency and purchase it
  • Make your payment using any of the options available

 

Featured image credit: Pixabay

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