So you want to keep some money in Crypto or make a speculative play? First read this to get you started – and remember: crypto can be high risk activity.
Over the years, cryptocurrencies have continued to rise in popularity, growing their numbers in the market to over 1600 digital coins. This proliferation has made it difficult for beginner investors to understand the right options for investment.
This guide is here to help you to know the top coins, and possibly make a good pick.
You’ve probably heard about bitcoin, even before knowing the term cryptocurrency or blockchain. It’s the first and the largest crypto coin; some may see it as the mother of all digital coins.
Bitcoin was developed by an anonymous developer going by the pseudo name Satoshi Nakamoto. As of October 2019, Bitcoin had a market capitalization of $149 billion, and its highest value was $19,783.06 in December 2017.
Launched on 30th July 2015 by Vitalik Buterin, Ethereum is the second most popular cryptocurrency. It has the strongest development team of all coins, and it’s seen as the most stable of all.
Ethereum has a market cap of over $50 billion, and it has grown to become a preferred coin for many investors. It’s both a cryptocurrency and a decentralized computing platform, which developers can use to create applications.
One thing that has supported the fast growth of Ripple is its ability to allow banks and financial institutions to move money instantly to any part of the world. It started in 2004 and was developed by Ryan Fugger.
Ripple has a market cap of over $31 billion, and it’s available to trade in the majority of exchanges. There are over 50 billion Ripples in circulation as of this writing.
Bitcoin Cash (BCH)
Born out of the idea of making Bitcoin easy to use in everyday payments, Bitcoin Cash was created in 2017 through a hard fork to make peer-to-peer transactions easy. It has a strong roadmap and its block size is about 32MB blocks, which ensures a high transaction capacity.
Bitcoin cash has a 24-hour volume of over 1 billion, and you can buy or work for it. It was designed to be spent as a peer to peer electronic currency. You can use it to complete transactions with minimal fees as possible.
The aim of EOS is to facilitate scalable and efficient decentralized applications. It has an operating system with services and functions that work similarly to the Etherem platform. The crypto coin started in 2017, but its open-source software was launched in 2018.
It has over 2 billion tokens sold with a market cap of over $7 billion. EOS is growing steadily, and it’s a good option for anyone who wants to get started in cryptocurrency investing.
With lots of crypto coins out there, it’s advisable to find a platform that delivers the most returns for your investment. Take the time to understand the different coins and their values to understand what you’re going into.
There are even more popular options, such as Tether and Litecoin. If you want to invest in crypto coins, knowing as many coins will help you diversify your portfolio. Remember that this is a rather volatile market and you can lose or gain a lot with crypto.