If you’re looking for a new investment opportunity, you may want to consider investing in cryptocurrencies. Bitcoin was the first and is still the most popular cryptocurrency, but many others are worth considering. This blog post will discuss 5 of the best cryptocurrencies to invest in right now.
Let’s take a look at these crypto’s.
Bitcoin is the most popular and well-known cryptocurrency used for peer-to-peer payments worldwide. There are no transaction fees besides those for the miners themselves. Furthermore, Bitcoin is considered to be digital gold. Given its scarcity and its ability to be split down into fractions of a single coin, many investors see it as a safeguard against inflation and a hedge against the traditional and unstable fiat currency system.
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Ethereum is an open-source distributed smart contracts platform, and in 2016 its native token started trading at around $1 and in 2017, had hit the $400 mark, and today it stands in line with Bitcoin having a market cap of $40 billion.
Many have called it the most likely successor to Bitcoin’s thrones for one simple reason: Its blockchain can support decentralized applications (Dapps) like the hugely successful CryptoKitties. While ETH has not jumped nearly as much as BTC, it still deserves to be included on this list for its potential alone.
In the top 10 cryptocurrencies, Cardano is currently number 9 in market capitalization. In November 2021, Charles Hoskinson raised more than $60 million to develop a next-generation blockchain for smart contacts.
The cryptocurrency behind this project is called ADA and has already increased by almost $10 within one month.
This could be considered as a promising top 5 cryptocurrency because it uses a special proof-of-stake algorithm and claims greater sustainability over other coins.
As more and more people are getting aware of their surroundings in the cryptocurrency market, there is a clear need for high-speed transactions. Solana’s unique Proof-of-History blockchain algorithm makes it possible to process 710 thousand transactions per second which are unparalleled compared to other blockchains.
What makes Solana stand out is that it’s not just another blockchain, and it has Layer 1 for data and communication while also having Layer 2 execute smart contracts.
- Shiba Inu
Shibui Coin or SHB, also known as the Shib Inu Token, is a cryptocurrency that aims to retarget ads at ordinary internet users. The coin gives everyone an opportunity to be paid for what they normally do online.
It rewards viewers when they consume media online through advertising, which saves them from seeing numerous advertisements while browsing their favourite websites.
The Bottom Line
Many people would rather invest in cryptocurrencies instead of gold these days, and for a good reason. Unlike gold, which can be only used to make jewellery or buy a new car, there are many use cases of cryptocurrencies that can improve your daily life.
You might have heard about Bitcoin, the most recognized cryptocurrency out there, but it is not the only option you have. We have addressed some great cryptos with a lot of potential to give higher returns.