Make a Killing with Crypto: 5 Tips for the Best Cryptocurrency to Invest in
Cryptocurrencies are all the rage right now. And with a valuation of over $1 trillion, it’s no wonder why!
But as younger investors continue to stray from traditional stocks, many longtime investors are starting to look at cryptocurrencies as a puzzle.
One of the biggest reasons why investors struggle with grasping the power of cryptocurrency is due to its varied nature. There are dozens — if not hundreds — of cryptocurrencies out there, so how can you be sure you’re choosing the best?
With a little help, of course. If you’re looking to find the best cryptocurrency to invest in, read on. Here are five of our personal picks.
By far the best cryptocurrency a new investor could invest in is Bitcoin. It’s the most popular digital coin for a reason, after all.
In fact, it’s so popular that Bitcoin alone is on track to value $1 million by 2021!
Aside from its value, the best thing about Bitcoin is the sheer amount of information one can find about it. A quick Google search brings up dozens upon dozens of sites dedicated to Bitcoin alone.
As a result, learning how to invest is far easier than if you chose to invest in a more obscure currency.
Next to Bitcoin, Ethereum is the most popular cryptocurrency on the market.
Ethereum’s greatest strength is its speed. The standard transaction only takes about two minutes, making it one of the fastest coins on the market.
Aside from speed, the fact that it comes from a regulated company means you can feel more confident in your investment. Where most cryptocurrencies are, well, cryptic, the Ethereum Foundation is one of the more transparent companies in the sector.
Stellar has some high hopes for their currency, dubbed Lumens. While most crypto companies hope to become rich, Stellar wants to change the very face of banking.
And thanks to a partnership with IBM, that may come to fruition. In fact, the two companies have come together to launch blockchain banking, bringing blockchain into the mainstream.
Between the IBM partnership, lack of transactional fees, and speed, Stellar’s success is almost a sure thing.
When Dogecoin first hit the market, many laughed it off. And to be fair, they had reason to be suspicious of a meme-based cryptocurrency.
Over the last several years, though, Dogecoin has proved to be a force of nature, still kicking today.
Dogecoin’s trading community is still quite active, and its value is currently lower than most other currencies. While that may seem like a bad thing, it also means you can invest for less, making it the best cryptocurrency to buy right now.
For those looking to get their feet wet in crypto trading, Litecoin is the perfect solution. It’s intended to be a low-cost alternative to Bitcoin yet it’s still seen massive growth itself.
How big of a growth? In the last year alone, it saw an 8,200% increase in value!
If you don’t have much cash to spare but still want to make an investment, Litecoin could be the best cryptocurrency for you.
Final Thoughts on Finding The Best Cryptocurrency to Invest In
Finding the right cryptocurrency to invest in can take some time. Largely, the perfect choice for you will depend on a number of factors, including how much you can invest and the power of your mining machine.
Still, you can’t go wrong with any of these five cryptocurrencies.
If you’re considering investing, be sure to read our guide on forex and the art of currency trading so you can trade like a pro.