The cryptocurrency market is booming. As a result, many companies and businesses are embracing cryptocurrencies as a legitimate method of payment.
With over 5,000 cryptocurrencies, you can find it overwhelming to choose the best one to invest in, especially if you are a beginner in the crypto world. Read on to find the best cryptocurrency you should invest in before the end of 2021.
Bitcoin (BTC)
Bitcoin (BTC) is the first cryptocurrency created in 2009 by Satoshi Nakamoto (pseudonym). It leads the industry in price, market cap, and volume.
Many companies are now accepting Bitcoin as payment. For example, Visa transacts with Bitcoin, Tesla invested approximately $1.5 billion in it, and big banks are now incorporating Bitcoin transactions into their business.
Ethereum (ETH)
Ethereum is the second biggest cryptocurrency. It has an Ethereum network that allows program developers to create their own crypto and smart contracts.
Additionally, it has experienced tremendous growth in the past five years. Its prices increased from $11 to over $3000, an increase of over 27,000%.
Binance coin (BNB)
Binance coin was launched in 2017and has since become the largest crypto exchange in the world. Binance coin is ranked among the top six cryptocurrencies.
BNB’s excellent performance has made it a more stable investment option with fewer risks. You can use it for trading, payments, booking travel arrangements, or even exchanging for other types of cryptocurrency, such as Bitcoin and Ethereum.
Cardano (ADA)
Cardano has a reliable proof of stake network that eliminates the competitive, problem-solving aspect of transactions verification in cryptocurrencies such as Bitcoin.
The method enhances faster transaction time and reduces energy consumptions and emissions. Cardano’s smart contracts and decentralized applications are powered by ADA (its native coin). Cardano has grown fast in 2021, which is a good reason to buy Cardano.
Tether (USDT)
This is a stable coin that is backed by fiat currencies like US dollars and euros. Therefore, tether keeps its value equal to one of these denominations. This means the value of tether is more consistent compared to other cryptocurrencies.
Final thought
If you are new to the cryptocurrency world, then these cryptocurrencies are an excellent choice for you.
However, always remember that cryptocurrency isn’t a get-rich-quick scheme. It’s a long-term investment.
Before choosing which cryptocurrency is the best investment for you, it’s good to know that they are highly volatile. And it’s hard to predict market behaviour. So, select your cryptocurrencies wisely and start using them today.
Finally, it’s a good idea to do some research before you choose which crypto exchange to use. Security and authenticity is very important to make sure that your funds are safe no matter if you are buying your first coins or if you are looking to swap cryptocurrencies. Transaction fees and user experience are other criteria to look out for before you decide which platform to go with.
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