A cryptocurrency, just as the name implies, is a digital currency that is used as a medium of exchange like normal currencies. It is secured by cryptography encryption, from which the name was derived (crypto). The cryptography is used for securing the transactions carried out on the cryptocurrency.
There are a lot of cryptocurrencies presently, a lot that not even everyone can mention, as they are introduced almost every day. However, there are specific ones that are advisable to invest in. The advice is based on research duly conducted and views from experts. Anyone can tell you there is a new cryptocurrency out there to invest in, but I will only be dealing with the Top 5 cryptocurrencies to invest in.
So, what are the top 5 cryptocurrencies to invest in?
Before choosing a cryptocurrency to invest in, it is important to put some things into consideration.
- Make sure the cryptocurrency is widely accepted by businesses and cryptocurrency exchanges.
- Examine the nature of the coin and the team behind the cryptocurrency.
- Look at the prediction by experts on the growth prediction.
The list is not subject to any order, they are just randomly arranged. You might be more interested in number 3 than number 1.
Bitcoin is the most popular cryptocurrency in the digital world. It is widely used as means of payment and exchange online. A lot of people must have heard it somewhere, whether when surfing online or from friends. The value of bitcoin has increased greatly since its inception in 2009. The price of Bitcoin rose to around $19,000 per bitcoin in late 2017. Although the value has been fluctuating lately, it is still a very important and promising cryptocurrency to invest in. The market cap of bitcoin is $199,681,540,241.
Bitcoin is usually represented as BTC, and sometimes XBT on exchanges.
After Bitcoin, Ethereum is the second most popular cryptocurrency. Ethereum was introduced by a cryptocurrency researcher in 2015, while he was making some research about bitcoin, he co-invented Ethereum. It has lately become high in value, and it is priced at little bit above $1000. It is represented in the market as ETH.
Ethereum is being talked about as the only cryptocurrency that has the ability to reach bitcoin’s height in the nearest future. The number of transactions on ethereum has even been more than bitcoin transactions lately.
Litecoin was introduced in 2011, but it had not been widely known before 2017. It is related to bitcoin, and it operates just like bitcoin. It was created to fix some problems that bitcoin has. Litecoin has recently been listed on top cryptocurrency exchanges, thereby making people adopt it and invest in it. The value of Litecoin is around $190 as of present. The transactions on Litecoin are confirmed faster than those on bitcoin.
Ripple is also a very promising cryptocurrency to invest in. It is the fourth largest cryptocurrency in the market, based on the market cap. The market cap of ripple is $54,839,130,563. It offers low transaction fees in making payments. There has been over 4000% increase in the value of ripple in the past year. Looking at the prediction of experts on the price of ripple in the coming years, Ripple is a very advisable cryptocurrency to invest in. Currently, the value of ripple is $1.42.
Dash has recently significantly increased in value. It rose to about 8000% in value in 2017. It is one of the top cryptocurrencies in the market with a price of about $840. Dash is now widely accepted on different platforms as a form of exchange. It has been predicted by experts to be a long lasting cryptocurrency. It is advisable to invest in it.
There is a host of other cryptocurrencies that are also good to invest in, they have been predicted by experts to have a long-lasting appearance in the cryptocurrency market. Some other cryptocurrencies that are not listed above, which are also advisable to invest in are BitcoinCash, Monero, IOTA.