Cryptocurrencies have taken the storm in the business world in 2017, and continuously invading the market to date and have extremely attracted a lot of investors from diverse backgrounds. A thing that makes new entrepreneurs look at cryptocurrencies as a new investment.
For new investors, entrepreneurs and business minded people, considering which cryptocurrency to invest on is quite hard to decide. All cryptocurrencies are unique and distinct from each other, thus makes it more confusing for beginners to decide which is relevant and not.
From the list of many cryptocurrencies emerging in the market, some have built its name in the crypto market.
There has been a lot of things being said about the future of cryptocurrencies since its inception. Some people doubt about cryptocurrency because of its fluctuating value, security, regulations governing it and a lot more.
It is indeed quite difficult to predict the future of cryptocurrencies that investing in it is more like gambling in casinos.
Best Cryptocurrency to Invest
Bitcoin (BTC): It is the first-ever cryptocurrency that has dominated the market with a price of $ 3,811.52 with a market cap of $ 64,802,212,425 and ranked as the number one of all cryptocurrencies, as of writing.
The price of Bitcoin changes every minute of the day. It has dropped to 6.30% today and will continuously vary over the day.
But why should you invest in Bitcoin learn more from here?
Ripple (XRP): Also known as Ripple (XRP), was one of the growing cryptocurrencies in 2017 with a growth of around 36,000%. It has a value of $0.349556 USD and a market cap of $14,096,666,065 USD as of writing.
Just like other cryptocurrencies, the value of Ripple has decreased in 2018 but is gaining its value over the past weeks. It has landed second in cryptocurrency ranking to date.
Have you heard about Ripple?
Why should you invest in Ripple?
Read more from here.
Ethereum (ETH): Towards the end of 2017, the value of Ethereum had become slightly higher than $720, with a total market cap of around $70 billion. Its value started to fluctuate beginning the third quarter of 2018. As of writing, it has a value of $106.00 USD (decreased 6.01% over the past days) and a market cap of $10,965,892,432 USD.
Despite its fluctuating value, it has gained its position as the third best-performing cryptocurrency in the market.
If you are wondering what Ethereum is and thinking of investing on it, learn more about it from here.
Litecoin (LTC): Litecoin is one of 900 plus known digital currencies or cryptocurrencies in the global market. It is a peer-to-peer cryptocurrency that makes instant payment possible to anyone anywhere in the world, at a near-zero transaction fee.
Same as Ripple, Litecoin has performed very well in 2017 with a growth of almost 8000%. The value of Litecoin raised from around $4 at the beginning of 2017 and as high as $358 in December. It is currently valued at $29.73 USD with a market cap of $1,763,751,033 USD.
Litecoin offers a lot of features that makes investor fond of them. Understanding Litecoin is quite easy even for the new entrepreneurs. Learn more about it from here.
Ethereum Classic: is almost the same as Ethereum but it runs on the original blockchain which was forked after the technology was hacked has led to the cryptocurrencies ETH & ETC. Ethereum Classic is a digital currency that is open-source or publicly distributed computing platform that runs ‘Smart Contract’. It means that these applications can run exactly as programmed without any possibility of censorship, downtime, fraud, or third-party interference. It is also worth mentioning that it is Blockchain based on a public digital ledger.
It has a value of $4.28 USD and a market value of $455,440,394 USD. Its value has dropped to 1.75% as of today. Learn more about Ethereum Classic here.
There are many cryptocurrencies in the market right now and investing in it would really require sufficient knowledge and understanding on the cryptocurrency market. Venturing into this kind of business is a long-term investment that requires a lot of analysis and the patience to understand the flaws that go along with it. The market is still volatile due to the insufficient laws governing its existence. Some countries have banned the use of cryptocurrencies and the majority of countries worldwide are now on the verge of assigning a legislative body that would help make laws and regulations that would govern the use of cryptocurrencies.
Investing into something would also mean risking what you have invested and so it is always recommended that one must always look for a cryptocurrency that has a high level of security and most important have high ROI. Always invest only on what you can afford to lose.