If you invested in bitcoin five years ago you could have made upwards of $40,000 today. Cryptocurrency has emerged as an incredible online currency worth more than most ever expected.
However, cryptocurrency is also volatile, and you want to be sure when investing that you’re putting your money in a sound investment instead of a sinkhole. These options are some of the best places to put your money so you can feel secure in growing your investment in spite of the volatile market.
Bitcoin (BTC) remains one of the best cryptocurrencies to invest in. While it is, like all of them, very volatile, it has shown consistency in growth and great staying power over time.
Bitcoin has a market cap of 1 trillion dollars, so it is the biggest cryptocurrency on the scene, and if you can, still worth the investment, especially if you catch it on a dip.
Another good option is Bitcoin Cash (BCH). Bitcoin Cash was created with efficiency in mind. As Bitcoin grew, it slowed down transactions, and fees increased. Bitcoin Cash was a solution to that and while newer, it has great potential to grow from here.
Ethereum (ETH) is the second biggest cryptocurrency with a market cap nearing $139 billion. Ethereum is based around the decentralization of currency and creating something that anyone anywhere can use.
This year Ethereum is planning to switch to a proof-of-stake model that requires less energy and increases speed. If you want to learn more about investing in Ethereum.
Chainlink (LINK) is an Ethereum platform that uses oracles to find incredibly accurate data and makes it a contender among cryptocurrencies. The more decentralized finance becomes popularized, the better Chainlink, and many of the cryptocurrencies listed will do.
Litecoin (LTC) is another huge cryptocurrency. It is very similar to Bitcoin, but it runs faster at a faster block generator rate, which leads to quicker transaction times for those using it. The places accepting Litecoin in payment are increasing all the time and compared to many other cryptocurrency prices, you can get Litecoin relatively cheaply.
Stellar (XLM) may not be topping everyone’s lists, but it could be an excellent investment down the road. Not everyone can afford to put thousands of dollars into cryptocurrency as an investment, but Stellar is currently under a dollar for one.
Stellar has a market cap of $8.6 billion and isn’t the biggest cryptocurrency, but could become increasingly useful. It is built to increase the speed of large transactions across different financial institutions. However, it can still be used by anyone, not just big banks.
Your Next Cryptocurrency Investment
If you found yourself reading this and asking “what is a cryptocurrency,” then you may want to read up on digital currencies before throwing your money into them. However, once you feel more comfortable with the idea and learn how to invest in cryptocurrency, you’ll have a whole new avenue open for your investment portfolio.
Don’t limit yourselves in the stock market when there are so many options available in today’s market. Cryptocurrency doesn’t have to be as cryptic as it seems, and the more you learn about it the more it will make sense. And if you found this helpful, we’ve got more great financial tips to help you maximize your earnings.