What are the best cryptocurrencies a beginner can consider investing in?
Cryptocurrencies are increasingly becoming popular, and some investors may want to dive in. Digital assets are said to be the future of investment. If you are looking at cryptos and are new to the space, you might ask yourself which coin or token is suitable. Thousands of coins are available, which may be confusing at first.
Note that you will be investing your hard-earned money. Therefore, you need to proceed carefully. If you are interested in cryptocurrency and looking for an application to guide you through the journey, you can try bitcoin fast profit.
Cryptocurrencies beginners can consider investing
Not all cryptocurrencies are suitable for investment. Therefore, as a beginner, you need to be selective. Here are some assets can you can look at:
1. Bitcoin
Bitcoin is the oldest and most valuable cryptocurrency. Holding the coin may translate to some advantages. For instance, since it is the first, the coin is widely accessible and the most liquid. If your preference is the market cap, bitcoin easily stands out. Presently, the coin comprises over 50% of the total market cap.
2. Ethereum
Ethereum is the second largest crypto by market cap. Since 2015, the coin has been on an uptrend and is the most popular launching pad for decentralized applications (dApps). Despite the volatility, ETH has been solid and can be considered an investment by beginners.
3. Bitcoin Cash
Bitcoin Cash is a result of the Bitcoin ‘fork’ in the year 2017. BCH, the native currency of bitcoin cash, has a decent market cap. However, its valuation has been declining over the years. However, the coin is not as volatile as bitcoin, a factor that might be looked at by new investors.
4. Litecoin
Litecoin was launched in 2011 and is the faster and most efficient version of Bitcoin. The admirers say litecoin is the silver to the bitcoin’s gold. Litecoin is in the top 20 by market cap and is liquid. Besides, it continues to be adopted, even supporting NFTs.
5. Cardano
Cardano a third-generation smart contracting platform. It competes with Ethereum, but the blockchain integrates technology, fusing elements of Bitcoin and adding smart contracts. ADA is in the top 10 by market capitalization, and its ecosystem is growing.
Closing the discussion
There are numerous opportunities in crypto. However, before diving in from the deep end, it is best to thoroughly understand them, considering the volatility element and other factors that may influence their valuation.
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