Cryptocurrency and the Blockchain is something which has gained huge momentum over the last couple of years. After Bitcoin’s boom in value at the latter-end of 2017, everybody has naturally been wanting in on it. There are several different cryptocurrencies available on the market available to invest in, but there are three which should be included in everybody’s investment portfolio.
No one cryptocurrency is the same as another, and each one has its own distinct traits, background and values behind it. Given the huge differences between each cryptocurrency found on the market, deciding which ones to buy can be difficult.
Below are three solid cryptocurrencies which are safe bets for a newbie investor.
#1: Bitcoin (of course!)
Bitcoin was the very first and is by far the most popular cryptocurrency of them all. Without Bitcoin, it is likely that we would not have a cryptocurrency market like we do today, let alone at all. It was the pioneer of cryptocurrency and paved the way for the development of today’s anonymous and decentralized method of transacting with people from all over the world.
Bitcoin, whilst finite in number, is going nowhere fast. Its value currently stands at around USD$7,000. Although this is less than the near USD$20,000 mark it stood at last year, its value will only increase as the last coins are mined and people hold onto them.
Ripple is one of today’s most exciting cryptocurrencies which acts as both a standard cryptocurrency and digital payment network for financial transactions. Ripple focuses on the need for money to be transportable and free-flowing, and their network is designed to alleviate the burdens associated with traditional financial institutions such as fees, processing delays, and investigations into the movement of large sums of money.
Ripple is currently worth $0.34 per coin and you can find the guide at Crypto Head.
Launched all the way back in 2015, Ethereum has been built upon a decentralized platform with a focus on Distributed Applications (DApps) which prevent investors from experiencing scams, downtime, and intrusion from unwanted third parties.
Any developer who wants to create and run an application through Ethereum can do so using ether – a medium which enables people to move around Ethereum. Using ether, developers can code, secure and trade virtually anything. Because of this, Ethereum is a unique cryptocurrency which provides extra developmental functionality. This contributes to its value which today rests at over USD$14bn.
There are thousands upon thousands of cryptocurrencies out there, with new ones entering the market each week. Anybody can make their own cryptocurrency, and this is why it can be difficult to sort the good from the bad and find ones which are worth investing in.
Although Bitcoin is your typical go-to cryptocurrency, the likes of Ripple and Ethereum, as well as others such as LiteCoin, are changing the way that the market operates for the good. Having these three cryptocurrencies in your investment portfolio is a sure-fire way to ensure future success.