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Choosing the Right Cryptocurrency to Invest in for a Bright Future

Choosing the Right Cryptocurrency to Invest in for a Bright Future

Buying and selling cryptocurrency has become a very lucrative investment over the last decade.

This is attributed to the steady growth of major digital currencies like Bitcoin, Bitcoin Cash, and Ethereum, just to mention a few.

Financial experts have confirmed that the future looks even brighter and this has created a boom in the business.

Any investor who is looking for a venture to put their money to productive use can trust cryptocurrency because it is secure and stable.

Although the market has recorded steady growth, there are some falls here and there that have affected many investors negatively.

That said, it is worth noting that not all cryptocurrencies are stable.

Reports show that the market is volatile and unpredictable due to many forces including the global economy.

All said and done, there are many cryptocurrencies that you can invest in today for a better future.

Past data helps experts to know which digital currencies stand a chance of doing well in the coming years.

But before we look at the best cryptocurrencies, let us look at the things that determine a stable digital currency.

 

Factors that Show the Stability of a Cryptocurrency

Choosing the Right Cryptocurrency to Invest in for a Bright Future

1. Past trends 

Since Satoshi Nakamoto introduced Bitcoin to the world, its growth has been very steady.

Likewise, many other cryptos have strived to shine in their evolution despite the many challenges they face.

Ethereum, for example, has been a tight rival to Bitcoin and has consistently proven to be a stable coin.

Many people trust that these two and some others will not disappoint them in their investments.

After all, they have had positive growth in the past.

 

2. Growth of crypto ATMs

Today, the demand for cryptocurrency investment has gone a notch higher.

Instead of struggling with third-party platform providers, people can just walk into a crypto ATM and make a transaction there.

It all started with Bitcoin ATMs and now they can accommodate other coins like Ethereum and Bitcoin Cash, just to mention a few.

 

3. Businesses are accepting cryptocurrencies 

If you want to know that digital currency is doing well, check if entrepreneurs are accepting it in their businesses.

It is incredible that the few major cryptos that started featuring as modes of payments in shops and service outlets are now getting other options added to them.

This is a sign to investors that there is a bright future in cryptocurrency and it is a good investment opportunity.

 

4. Governments are interested in creating a national cryptocurrency 

Although cryptocurrency was originally created to have no government control, its success has some governments interested.

Because they cannot take over the successful cryptos, some countries have decided to create their own.

This is a sign that digital coins have enough stability to be trusted as an optional medium of exchange in a state.

With all of this, investors are assured of a bright future.

However, it is not possible to invest in just everything.

One has to choose the best option that suits their needs.

With this guide, you will get to know the best cryptos to use this year for a better future.

 

Bitcoin (BTC)

This crypto is one of the most popular and deserves to be the first on this list for many reasons.

One of them is that it is equated to gold.

The fact that it is decentralized and has many administrators makes it very stable.

The blockchain where the ledger is operated has faced numerous challenges like instability and security threats, but it has remained strong after consistently overcoming them.

Currently, Bitcoin (BTC) is at the value of USD $9,790, but this is a figure that can change for many reasons.

If you want to start buying and selling BTC, it is good that you research more before you create a digital wallet and find the best platform to buy and sell.

 

Bitcoin Cash (BCH)

Altcoins gave major digital coins a big surprise when they started to show up. BCH was coined from the original Bitcoin and has been doing well so far.

It claimed to address all of the weaknesses of the mother coin such as block size, security, instability, and fairness in the distribution of the ledger.

If anyone prefers to invest in this crypto, the procedure is the same in that you need to find a digital wallet and the best platform to do the transactions on.

Buying and selling are also very simple and one should keep an eye on the fluctuation of the value to avoid making a loss.

 

Ethereum (ETH)

Ethereum (ETH)

Another popular and stable digital coin is ETC. It is an open-source digital coin and the blockchain runs on smart functionalities.

According to experts, it is one of the strongest in the market today.

The current value is USD $221, and just like all of the other options, it is likely to change without any warning.

It is a good option for investors who want to enjoy the second-largest cryptocurrency in the world.

Notably, it is the pioneer of the initial coin offering (ICO), which was introduced in 2014.

 

Litecoin (LTC)

Since its inception in 2011, this crypto has acquired a big name, which has enabled it to get a silver title.

According to the founder, Charlie Lee, the goal was to create a global payment method that is decentralized and not regulated by any government or authorities.

Just like BCH, it is an altcoin to BTC but focuses on faster transactions while maintaining many other qualities of Bitcoin.

Investing in this digital coin is more fun because new features keep coming by the day.

People are also accepting it more and more, which makes the opportunity very lucrative.

 

Ripple (XRP)

The main purpose of the introduction of this digital coin was also to offer low cost and fast payment solutions across the world.

Just like other cryptos, it has a decentralized ledger.

The unique part here is that XRP does not need mining to create new coins.

Thus, only addition or elimination from the market is available.

With this, the crypto remains certain and trusted by all of its users.

Investors need a digital wallet and a popular buying and selling platform to succeed in this investment.

One can also include an expert to guide them with the best prediction.

With the advancement in technology, there are added options for buying and selling.

You need to check to see if your nearest Bitcoin ATM has added other cryptos like Ripple.

 

Monero (XMR)

Investors who are interested in getting untraceable transactions are better off with this option.

The level of security is very high, making it is a trusted cryptocurrency by people who want to transact large amounts of money at once.

However, it is worth noting that the main purpose of the introduction was to make discrete donations and community-based assistance.

And it’s no wonder since the transactions hide the identity of the sender and recipient.

However, a person can still buy and sell XMR with the intention of making profits because its value keeps on changing as affected by different factors.

The processing of joining the bandwagon are similar to those of other major cryptos.

 

Libra

This is the last digital coin to discuss here. Surprisingly, it has not yet launched since the hype that begun in 2018.

It is supposed to be P2P crypto sponsored by the giant social media platform Facebook.

Currently, the officials of the platform are still working on the regulations and they have promised to launch it anytime now.

According to the whitepaper about the cryptocurrency they released, it is anticipated to work smoothly and reach everyone across the globe without any issues.

Investors who are interested in giving it a try can keep an eye on its launch to enjoy the benefits that will come with it.

 

Precautions to Take When Investing

Choosing the Right Cryptocurrency to Invest in for a Bright Future

Whether you are buying a fraction of a Bitcoin, many digital coins, or any other, it is crucial that you take all of the necessary precautions.

From the above insights, you have read about security, safety, and stability, but this does not mean that these are guaranteed.

The cryptocurrency market is very volatile as advised by experts.

Read more and consult widely on the specific ways of taking precautions for the option that you pick.

Many people have lost their investment through fraud.

So, ensure that the platforms used to buy and sell the cryptocurrency is secure and trusted by many people.

Additionally, do not trust anyone in the community who wants to do business with you – they might lead to something malicious.

Luckily, Bitcoin ATMs are now becoming one of the most trusted options for buying and selling digital coins.

The problem is that they might be limited to specific digital coins like Bitcoins only.

 

Conclusion

By now, you already know the most popular cryptocurrency to invest in.

There are many others and more will mushroom in the near future.

Before you can settle on one, do thorough research to see if indeed it suits you.

Only then should you dive in.

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About Erick Bobson

Erick Bobson is a cryptocurrency investor and enthusiast who also offers consultancy services. With over five years of experience, he can comfortably define the good and bad side of cryptocurrency investment. Through this website, he has just done what he enjoys doing - giving readers insightful information that is helpful to them.
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