There are over 1,000 cryptocurrencies circulating on the market today with more being launched every month. Interestingly, each coin is unique in its own way but the one thing they all have in common is the fact that they are worth billions of dollars cumulatively.
So which is the best coin to invest in when you start off in your crypto trading journey?
Let’s look at some of the best performing coins so far.
Bitcoin (BTC): Still the King of Crypto Trade and Profit
Bitcoin is largely considered as the father of all cryptocurrencies. It was launched in 2009 and has a current market value of over $163 billion. It’s not only the original cryptocurrency but the largest and most popular one too. It has also withstood several tests of fire by attackers and lived to tell its success. However, the fast growing demand for Bitcoin has stressed the network making it the most expensive coin in the digital assets world. If you intend to go big in crypto trading, then invest in Bitcoin by all means.
Ethereum: Hottest Coin on the Market Right Now
While Bitcoin was designed to take over online banking and other online financial wallets such as PayPal, Ethereum aims at using blockchain technology to replace online third parties that deal with data storage and other complex financial instruments. This is probably why it’s one of the hottest cryptocurrencies on the market today.
Ethereum was launched on July 30, 2015, with 11.9 pre-mined coins for the crowdsale. It has since then seen a meteoritic rise with a market capitalization that’s expected to hit 100 billion in the very near future. It has almost hit the $700 mark in the exchanges. If you want to invest in a fast-rising cryptocurrency, then Ethereum would be a perfect choice.
Ripple (XRP): The Bridge to Profit
Ripple has also emerged as another popular coin in the cryptocurrency market. It was initially launched in 2017 but as a “bridge currency” crypto token, it has gained popularity and value especially among financial institutions which use it to carry out cross-border transactions in a cheaper and faster way. It provides faster transactions than Bitcoin and Ethereum, thanks to its consensus protocol. Ripple has a market value of $32 billion and despite critics claiming that it’s not completely decentralized, it’s a good coin to trade in.
Litecoin (LTC): Still a Good Option to Trade and Profit With
Litecoin is another old timer having stuck on the market since it was launched back in 2012. It commands a market value of over $10 billion. Many consider it a clone of Bitcoin but notably it processes transaction 4 times faster than BTC. Its mining process doesn’t require expensive hardware and complicated procedures as BTC. However, Litecoin has not yet gained as much acceptance in payment processes as Bitcoin or Ethereum.
Other notable coins to keep an eye on include Eos (EOS), Monero (XMR), Dash (DASH), IOTA (MIOTA), Bitcoin Cash (BCH), Cardano (ADA), and Steller Lumens (XLM) and Neo (NEO) just to mention a few.
Visit profit-trade.com to learn more about cryptocurrency trading and how you can succeed in this industry.