Cryptocurrencies are making a comeback, with Bitcoin seeing one of its biggest rallies in recent history. People are showing interest in the field again, especially with all the economic uncertainty at the moment. Some might want to find stores of value to keep their assets safe, while others might have been observing the markets for some time and are interested by the recent movements.
There are now over 1600 different cryptocurrencies on the market, and knowing which one to invest in can be difficult, especially if you’re new to the game. Let us give you some of the main cryptos you should be considering if you wanted to invest right now.
Let’s start with the biggest and most obvious choice, Bitcoin. Bitcoin has been seeing some impressive gains lately and remains the most well-known cryptocurrencies on the market. This is also the one with the most liquidity, which makes it a particularly good choice for beginners. More liquidity means that buying or selling Bitcoin will be much easier than many lesser-known cryptos out there.
Bitcoin’s price remains fairly volatile right now, and you might be asking yourself, how much are Bitcoins now? If you want to know the value of Bitcoin at any given moment, you can always check out resources like Chaingers.io. This will allow you to get answers to queries such as “how much are Bitcoins worth” in any currency that you want. It’s also a peer to peer marketplace that makes exchanging Bitcoin for local currency and vice versa much easier.
Ethereum is always a good choice because of its strong and proven use case. It’s also the most recognizable crypto after Bitcoin. Then there’s the fact that so many altcoins are using Ethereum’s platform to build their own projects.
Ethereum was the first to popularize the idea of smart contracts. They also introduce the idea of building a network where decentralized apps (dApps) could be created and hosted, and where Ether, the token behind Ethereum, would serve as a form of “fuel” powering these apps and validating these contracts.
Ethereum also has the backing of the community and a great team of developers behind it. Its high liquidity makes it easy to trade, and more Ethereum can be created than Bitcoin. Not only that, but since Ether is what fuels the whole dApp network, developers will need Ether to support their launch applications and smart contracts.
If you’ve been in the crypto world for a little while, you may know that there is a not very well kept secret about Bitcoin: it’s flawed. Litecoin was always touted as “the coin that Bitcoin could’ve been”, but always struggled to get traction and attention. But that is slowly changing.
Litecoin’s high block reward accelerates block generation, and blocks play an essential role in blockchain transactions. Blocks are unlocked by miners on the network, and only in a block can a transaction be validated. Since block generation is much faster, and there are more available, costs are also much lower due to supply and demand. Not to mention that transaction capacity is much larger on Litecoin not only because of the number of blocks available, but their larger size as well. This makes Litecoin a much better coin for quick transactions, which could make it a very valuable coin for years to come.
In our opinion, all of these crypto currencies would make great additions to any portfolio. Whatever the case, stay informed on the most recent developments, and always keep an eye out for new opportunities.