In recent few years, the cryptocurrency market, which is still in its initial stages, has gained a lot of popularity and is attracting the attention of so many young investors itself. Nowadays, so many people are taking an interest in investing in best cryptocurrency. Be it retail investors or institutional investors are now keen to invest in the crypto market for earning both long-term and short-term profits.
Bitcoin, Dogecoin, and so on are some of the popular names in the cryptocurrency market and people are well aware of that. But with all of a sudden wave of Cryptocurrency’s popularity has led to confusion that how to invest and where to invest. Just like the stock market, profit and loss are part of it and are subject to market risk.
However, the investment in cryptocurrency comes up with its own share of risks and challenges. If you are interested in investing in the crypto market, then you need to trade with caution and guide. You need to understand the risk and challenges of cryptocurrency.
If you are also confused that where to invest in cryptocurrency, we have brought you some of the cryptocurrencies that have been topping the market cat charts time and can be a great choice if you are looking forward to investing in the cryptocurrency. So, let’s have a look at them without wasting our time…
BEST CRYPTOCURRENCY FOR THE LONG-TERM INVESTMENT
Bitcoin is one of the best cryptocurrency that was created in the year 2009 by someone under the pseudonym Satoshi Nakamoto. Bitcoin or BTC is the original cryptocurrency and is also known as ‘digital gold’ and is the largest cryptocurrency in the whole world. The invention of Bitcoin in the year 2009 changed money forever and has opened the door to blockchain-based, decentralized currencies not issued by any nation. Roughly, the price of Bitcoin’s per token has surged 113% a year and has now hit a new lifetime high of roughly $67,000 per token.
The Ethereum blockchain is nowadays rapidly gaining crypto and has set a competition with Bitcoin. It has a market capitalization of about $469 billion. Ethereum or ether stands as the second-largest cryptocurrency by the market capital. Moreover, recently the share of Ethereum rose from 18% to 20% in recent. It is a decentralized blockchain platform that cuts out 3rd parties. The price of Ethereum has roughly surged 458% as per the reports in trading across 2021.
Another decentralized blockchain platform that uses cryptocurrency as a native in the list of best cryptocurrencies to invest in Cardano. It is known for its early embrace of proof-of-stake validation. Cardano (ADA) enables secured peer-to-peer transactions. It works just like Ethereum to enable smart contracts and decentralized applications, which are powered by ADA, the native coin. The growth of Cardano’s ADA is modest as compared with other crypto coins.
This, one of the largest digital asset projects was launched in the year 2013, has a market capitalization of tens of billions of dollars. The total supply of the XRP tokens of Ripple is 100 billion still qualifies it as a low-value crypto asset. Nowadays, Ripple is being used for cross-border payments by over 250 banks and offers an impressive transaction processing time with minimal fees.
One of the most popular cryptocurrencies that has been developed by the inspiration from memes. There are 128 meme coins available with a total market cap of over $44 billion and the largest meme coin is dogecoin with a market capitalization of $32 billion. As the website of dogecoin says, ‘It is an open-source peer-to-peer digital currency, favored by Shiba Inus worldwide’. And Shiba Inu is a breed of dog from Japan.
But SHIBA INU is a different cryptocurrency. Dogecoin has earned a relatively high mining rate since its launch. And this year, dogecoin gained huge popularity from Reddit users because of Elon Musk. And the best part of it is that Elon Musk possesses dogecoin with Bitcoin and Ether.
Shiba Inu has recently secured its place as the 11th biggest cryptocurrency by market value. It was founded last year in 2020 by an anonymous person and is going by the name of Ryoshi. Its website quotes, “it is a decentralized meme token that evolved into a vibrant ecosystem”. Customers can trade, receive, send, and store SHIB on its platform.
So, these were some of the cryptocurrencies in which you can invest in the long term. In today’s digital world, cryptocurrencies have secured their place well. However, to invest in cryptocurrency involves its own risks and challenges, so do study well about it before entering into this crypto market.