Bitcoin was the subject of many talks in recent years. It became the standard for crypto trading over the years. With a recent increase in the popularity of crypto, it appears multiple retail investors’ attention away from the more traditional realm.
Though Bitcoin is a solid choice for investors, many people are looking for cheaper but reliable altcoins to add to their portfolio.
Let’s see our top picks!
Ethereum saw a spike some weeks ago thanks to multiple factors. There is the speculative fever due to the non-fungible tokens and future blockchain upgrades that boosted the increase in Ethereum value.
Another reason it saw a sudden growth is its use in decentralized finance (DeFi) applications.
As more applications are included in the blockchain, there is a solid chance that Ethereum will be the leading platform for future trades. Ethereum underpins the Ethereum network, also known as the “world computer.”
One of the most remarkable cryptos of the moment is Cardano. The company’s enterprise platform dictates how Cardano is working on a platform to support education, finance, retail, and healthcare.
Those domains face a common problem that prevents them from operating optimally. The main problem is that there is a strong level of centralization.
One of the main reasons why cryptos are lacking widespread adoption is the fact that there is a low number of applications they can be used in the real world for.
Binance Coin (BNB)
You can use Binance to pay transaction fees on the Binance exchange or to just trade for other cryptos.
BNB coin has a purpose beyond its actual value. It may play a significant role in fueling the NFT craze.
You can’t go wrong with Bitcoin. It is the world’s first, most famous, and most precious crypto.
It was launched in 2008 by a so-called “Satoshi Nakamoto.” The announcement of the coin was made via a whitepaper called Bitcoin: A peer-to-peer electronic cash system.
Bitcoin was the first significant application of blockchain tech, which allows holders to send and receive funds without relying on a third party like a payment provider or a bank.
However, it would be best to keep in mind that neither of those cryptocurrencies is necessarily a safe choice.
Though some cryptos are trying to be as stable as possible, there are times when the prices simply fall.
One very good example is back in 2017, when Bitcoin plummeted, taking billions of dollars in value down with it.
One very good law of investing in crypto is that you shouldn’t invest more than you can afford to lose.
Also, another wise saying is that you are not at a loss until you sell your crypto. There are times when prices fall all of a sudden (like it is the case now), but they will likely stabilize sometime in the future and maybe even surpass their initial values (before the fall).