It has been 12 years since Bitcoin was first launched, and since then, over 6000 more cryptocurrencies have been created. Before you invest in any type of cryptocurrency, it’s important to know what exactly you’re investing in.
In this list of best cryptocurrencies, we’ll take a look at what makes each of these coins the cream of the crypto crop.
Bitcoin is the original blockchain-based cryptocurrency, and from when it first hit $1 ten years ago, it has soared a staggering 48,22,525% at its peak back in February this year. Bitcoin has the highest market cap of all the crypto coins and makes up almost half of the crypto market.
This makes it the most stable of cryptocurrencies, other than the stable coins, hence why it is used by so many large institutions, and retail holders alike, as a store of value.
Ethereum takes the second spot, and it was introduced around 6 years after Bitcoin. What makes Ethereum a strong contender for the top spot is the fact that its network can be built on.
Ethereum’s London hard fork update is due on August 4th this year, and many experts believe it could be the beginning of Eth knocking BTC from its throne as king of crypto.
Cardano is the original “Ethereum killer,” and it is currently ranked #5 with a market cap of over $51 billion. Like Ethereum, it is possible to build on the Cardano network, and as a result, the Cardano ecosystem is developing quickly.
ADA has a smart contract main net launch forecast for the near future, which is predicted to help skyrocket ADA’s value to new highs.
You can’t have a list of the best cryptocurrencies without Dogecoin. It started as a joke, but after being endorsed by none other than Elon Musk, the coin has to finally be taken seriously.
It seems that Elon has big plans for Dogecoin. His Twitter account has been shown to affect the market for good and bad. After the most famous Doge-related tweet from Elon Musk, the coin rallied 800% in less than a week. Come and take a look here if you want to know more about Dogecoin.
Now is arguably the best time to be buying Polkadot. It has suffered a huge crash since its high of just under $50. But, if the bull run isn’t over yet, then many crypto experts expect this digital currency to surge past that.
Polkadot has its para chain auctions coming soon, which will see many DOT coins being locked away.
Ripple has had a tough year. The SEC took Ripple to court, claiming that XRP was security and not a cryptocurrency token. This devastated the price and has kept it well-suppressed since then.
The news seems to suggest that the SEC is losing the ongoing case. On top of that, many large banking institutions from all over the world are working with Ripple due to XRP’s lightning-fast transaction speed. If Ripple wins the court case against the SEC it could be one of the best cryptocurrencies to be invested in right now.
What’s Your Pick From This List of Best Cryptocurrencies
This list of best cryptocurrencies only covers a few, and there are many more out there that have huge potential. There is a lot of volatility in the crypto space, so make sure it’s something you’re prepared for. Only ever invest what you can afford to lose, and happy trading.
For more finance articles like this one, be sure to take a look at our other blogs.