Digitalization has made a crucial impact on our activities, and one of them is the finance sector. People have modernized themselves by adopting digital modes of payments using different virtual currencies called cryptocurrencies. Cryptocurrencies do not allow any involvement of central banks of a country that act as a medium for financial transactions. Cryptos works based on digital entries. It operates in the form of databases that contain information on the transaction done online.
So, if someone wants to use these currencies to buy something from the stores, he has to deposit some cryptos in his digital wallet, and the transactions are recorded in a public ledger. So, let’s mull over those top 7 cryptocurrencies we, at BK8, are suggesting you invest in.
1. Bitcoin (BTC)
Bitcoins are recognized as the table-toppers among cryptos because they are being used all over the world. An experienced group of blockchain developers founded it in 2009. It is not backed or operated through any government or authority; it is decentralized, used to provide lower fees. That means you can buy, sell, and use them anytime and anywhere without any interference from the national banks.
Bitcoins have been used throughout the world since 2009. From then, it has shown a magnificent rise in the price of the currency sector, which has soared 300% since May 2020. As this crypto is developed through blockchains, it provides trust and security in every way.
2. Ethereum (ETH)
A group of Blockchain enthusiasts named Joe Lubin and Vitalik Buterin have introduced Ethereum, one of the most popular and stands in the second position among the other cryptocurrency of the world.
Ethereum came into existence in 2015. It provides stability in price and is risk-free if invested in this crypto with planning, which gives you massive returns soon. A decentralised platform allows smart contracts to be implemented without the need for outside intervention.
Do people think that these cryptocurrencies are safe or not? But it is to say with pride that you can use Ethereum to buy or invest in any sector. Anybody can access this crypto anywhere as the price value of these cryptos is versatile in terms of market capitalization.
3. Cardano (ADA)
The World Economic Forum has listed Cardano as a scalable blockchain since it was introduced in 2015 by some mathematicians, cryptographers, and economists. Due to its huge success after its creation, the price of this crypto has driven to $10 in 2017.
The value of Cardano currencies was witnessed in 2020 when it took a steep upscale to 74.00%. It is the most affordable one and can be used on two cryptocurrencies instead of one. Because of its “Ouroboros proof-of-stake” approach, you can use one currency for standard transactions, and the other crypto is used for valuable contracts.
It comes with many other benefits as it is fast and scalable and gaining more valuable recognition nowadays than Ethereum and Bitcoins.
4. Tether (USDT)
This crypto values $1 in the American market, and because of its low value, has gained immense popularity among ordinary people. Looking at its market price, Investors spent many bucks after this crypto to extract massive returns in the future. Because the cost of these cryptos is stable, it reduces the risk of investing in Tether currency.
Thus, Tether aims to keep the crypto valuation stable, which has become possible due to its stability in market price. Those who want to avoid the extreme volatility in the price value can easily stick to Tether to witness a stable growth in its price value.
5. Polkadot (DOT)
Look into the next-generation platform through the latest Cryptocurrencies that emerged in the market-Polka Dot. It has come up with a new era in scalability, providing compatibility with other blockchains. Gavin Wood created Polkadot in 2017. It has led to the emergence of blockchains connecting with cross-blockchain “parachains” with their native coins to enrich their specialized application cases.
Technical analysts assert that the price of Polkadot will reach $136.96 by 2025 after analysing the crypto charts. In the Polkadot case, developers are trying to introduce their blockchain for more security in fiscal transactions.
6. Solana (SOL)
Solano is considered to be a long-time rival of Ethereum. The World Economic Forum has highlighted that Solana obtained impressive price charts soaring 18,000% in value from 2020 to 2021, drawing mainstream attention. Without sacrificing decentralization, it aims to achieve high transaction speed. It is used for staking and for transaction fees.
Besides Ethereum, Solana provides a flexible platform where crypto apps are operated, for instance, Degenerate Apes to the Serum. Solano is well known for its speed, and it has been marked that Solano gained the eligibility to process around 50,000 transactions per second.
7. Litecoin (LTC)
A former Google engineer created Litecoins two years after Bitcoin came into existence. It was established in 2011. Litecoins are used as an avenue for performing all sorts of payments, sitting in any part of the world.
It does not allow any intermediary like banks to act as a medium to process transactions. The government does not operate this currency. It is the trust of people on this crypto that has issued money.
Litecoins, unlike conventional currencies, have a finite supply, with a global total of around 84 million coins. Thus, you can invest in Litecoin, which is driving the attention of many investors nowadays just because of its steep rise in price value in the market.
Want to make an emergence in the Crypto world by accumulating some crypto-currencies in your e-wallet? Yes, you are welcome to do so. But you have to take care of your safety and should note a transparent transaction.
Every year a new cryptocurrency is developing, and you can see already 2000 of them are present in the world now. If you are planning to invest your hard-earned money in any of the crypto currencies, you must take deep insights into the flow patterns in the market and do some research about them. It will help you get massive returns, and your hard-earned money will not go off.