The popularity of crypto currencies is growing so rapidly that it can be difficult to know which currency you should invest in. Each day there are countless altcoins and new currencies being launched and, while exciting, it can be difficult to sift through the noise. Today we’re going to share our picks for the 5 crypto currencies we feel you should consider investing in.
1. Bitcoin (BTC)
By now, you probably have heard of Bitcoin but what you may not have heard is that it is still a worthwhile investment that many of the other coins on our list use as a benchmark. Bitcoin (BTC) is the original cryptocurrency that was reportedly created by someone who used the pseudonym Satoshi Nakamoto.
Millions of traders around the world buy, sell, and hold bitcoin in their crypto wallets. As is the case with most all cryptocurrencies, BTC runs on the blockchain which is basically a ledger of transactions that is much more secure and transparent than any form of ledger in history. Bitcoin is first on our list because of its stability and popularity compared to the newer cryptocurrency options. The price of BTC has literally went “to the moon” in the last few years due to the rise in popularity of crypto trading and how easy the trading process has become.
2. Ethereum (ETH)
Ethereum (ETH) is next on our list of cryptocurrencies you should consider investing in. Ethereum is highly popular because of its existence both as a platform and as a cryptocurrency you can also buy and trade on almost any exchange. You can also check the ethereum price almost anywhere. Ethereum technology is the core of nearly all advances in the blockchain world and the idea of investing in this coin is its future applications and widespread acceptance of the cryptocurrency itself.
Like Bitcoin, ETH has become a household name and is considered by many to be the backbone of cryptocurrency trading. Ethereum (ETH) is considered an altcoin. Altcoins are coins that were developed to meet and go beyond the success of the original cryptocurrency bitcoin. Many experts are touting ETH’s potential by saying it is possible it may grow by triple digits in 2022.
3. Tether (USDT)
Tether (USDT) is the next cryptocurrency we think you should take a closer look at. Tether (USDT) is a different type of cryptocurrency that’s referred to as a stablecoin. USDT is hosted on the Ethereum and Bitcoin blockchain (including several others) and was designed to help traders avoid the massive fluctuations that many cryptocurrencies (and the market as a whole) face. You can use this stablecoin as a way to hedge against other risky investments or use it to qualify for certain loan products or funding. Many bitcoin traders who profited from past transactions when the crypto industry was forming have moved to invest in stablecoins as a way to protect their profits.
4. Solana (SOL)
Solana (SOL) is a third-generation cryptocurrency which is focused on providing more advanced technology than ever before – with its major benefit being much lower costs without additional security concerns. Currently, 1 SOL is worth nearly $90 USD and its trading volume is equally as impressive indicating its immense popularity within tech circles. Solana not only beat out expectations in 2021 but rose from an initial price of $0.50 all the way to a mouth-dropping $170USD. Solana has been described as the “choice investment” for many websites and users due to its meteoric rise in price. Many SOL traders are even predicting the coin will eventually reach $1000 or more. You can keep track of the fluctuations of SOL and other cryptocurrencies through the FTX platform.
5. Binance Coin (BNB)
Our last pick for cryptocurrencies you should invest in is the Binance Coin (BNB). Binance Coin allows you to do more than just fill your wallet with an impressive number of coins. BNB is able to be used to make credit card payments, pay for travel arrangements and gifts, as well as make other investments including also processing loans and donating to your favorite charities. The versatility of this coin is truly unmatched. BNB rose over 1000% in 2021 but caution is still warranted as it has seen a pullback in 2022 of about 10%. As with any coin, it is important to practice good risk management.
Choosing The Right Crypto Currency For You
We hope that this quick introduction to cryptocurrencies helped you gain more knowledge. Remember that cryptocurrencies, and many investment assets, have their risks and can be quite volatile. Be sure to perform accurate due diligence before making your first trade.
