Cryptocurrencies are hot assets and it has become an exciting industry over the past decade. Most people will say that there is solid potential when it comes to storing and trading cryptocurrencies. With this, there are several institutes and private individuals who are looking forward to investing in digital currency and earning a profit.
While the crypto market is barely a decade old, it is fair to say that it has become a legitimate investment. Even though there are still some questionable parts of the crypto market like its volatility, more people accept the use of cryptocurrencies as the years pass by. In fact, cutting-edge technology is constantly evolving and the crypto world will only grow with more coins in the market.
It also helps that some countries have started to accept cryptocurrencies as legal tenders. As of May 2022, Bitcoin is the only cryptocurrency legalised in El Salvador and the Central African Republic which is a good sign for the future of the industry.
Cryptocurrencies have many uses which include investing, creating new projects, and wagering on any crypto betting platform. You should also look at the success that you can get from these cryptocurrencies.
Here are some of the best cryptocurrencies to invest in to make an impact in the crypto market.
Bitcoin (BTC)
Since it is the most popular asset in the crypto market, Bitcoin is an obvious choice for investors. It has performed well over the years and most experts have predicted that it will be the focal point of the crypto industry for a long time. It’s fair to say that it will be the biggest cryptocurrency of all time because of its popularity and viability in the mainstream.
Bitcoin is one of the most liquid investments in the crypto market because of the worldwide reputation that it has accrued. You can easily trade Bitcoin for cash or other assets for low fees. This liquidity has made BTC a strong investment asset if you want to earn a profit in the crypto industry.
Compared to activities like stock trading, Bitcoin is relatively easy to participate in. You don’t have to worry about getting a license to invest because you just need a crypto wallet and an exchange to invest, store, and trade. Compared to fiat currencies, Bitcoin has more value which can help turn your simple investment into a solid portfolio.
Ethereum (ETH)
While Ether was only released in 2015, ETH has earned a spot as the second-most popular cryptocurrency in the world. Of course, a big part of the ETH’s rise is the Ethereum network. It has been the biggest part of the growth of decentralised finance. It is mostly used to create innovative apps or to easily participate in the blockchain network.
Another reason why Ethereum is such a popular network is that it also contains non-fungible tokens. It is the main network for NFTs which makes it even more popular given the meteoric rise of that asset in the past two years.
While Ethereum is not even a decade in, you can expect that it will be a good investment for a long time. Hopefully, more people can realise that ETH deserves to be at the top of the crypto market alongside BTC because they are the most in-depth cryptocurrencies and have the most potential out of any other asset.
Litecoin (LTC)
As one of the first cryptocurrencies in the market, Litecoin has always followed the footsteps of Bitcoin. It was created by Charlie Lee who is a former Google engineer. It is based on an open-source global payment network that is not controlled by any central authority.
LTC has one of the fastest transaction speeds in the crypto market. You can also expect that there are lower fees with LTC compared to other cryptocurrencies. It has been one of the top cryptocurrencies in the world since its inception in 2011 and it has endured as one of the most well-known cryptocurrencies of all time.
Dogecoin (DOGE)
While it is mostly known as a ‘meme coin’, it has become one of the most valuable cryptocurrencies in the world. When Billy Markus and Jackson Palmer developed this coin, they intended it as a joke about the wild speculation about the crypto market.
Now, it is one of the best cryptocurrencies to invest in. If you want to invest in a cryptocurrency that has intrinsic value because of its meme nature, you should try this out. Dogecoin has outgrown that because it is one of the most popular and valuable cryptocurrencies. It has even reached a level of popularity that only Ether and Bitcoin have achieved.
Dogecoin itself has solid features like its limitless supply compared to other assets like Bitcoin with a maximum supply of 21 million coins. Additionally, the Ren Project has enabled Dogecoin (renDOGE) to be used on the Ethereum blockchain which means it can be linked to any decentralised finance (DeFi) network.
These are just a few of the best cryptocurrencies to invest in. Hopefully, most people can use this in multiple ways including making wagers on any crypto betting platform that is available on the internet.
