Cryptocurrency has become a new trend in the financial market and has been growing at a very fast rate. Due to this many, people are jumping on it and making lots of money out of it. You might have realized this too and just wondering which of the cryptocurrencies to invest out of the thousands. To invest in any kind of cryptocurrency, there are a number of factors to consider. These may include the liquidity level, market supply, coin market cap (CMC) rank among others. These are the top three cryptocurrencies you might want to invest in.
Bitcoin: Since its inception in 2010, Bitcoin has become one of the fastest rising cryptocurrency. Despite its volatile nature, it has an incredible Return On Investment (ROI). A report has it that the Bitcoin can bring the dominance index to about 70 percent in comparison with other digital currencies. With this, it may have a long reign as the cryptocurrency with the biggest market capitalization, which will lead to an increase in price in the near future. Furthermore, the use of lightning networks, segwit, MAST, among others is making a transaction with Bitcoin easier and faster.
Ethereum: The Ethereum was birthed in 2013 to enhance the idea of Bitcoin. Over the years, it has recorded an increase in growth rate, market capitalization among others. Ethereum has become one of the most popular cryptocurrencies in this era.
One interesting thing about the Ethereum is that its blockchain allows the creation of decentralized applications or any business-boosting application. Because of this, many people are enthused about it and want to get it. The more the demand for this currency increases, the higher its price gets.
The smart contract feature of Ethereum also makes it exceptional from the rest. This feature enables trustworthy transactions to take place without a mediator.
Litecoin: Created in 2011, Litecoin is gradually taking over the digital market. While other cryptocurrencies may take time during the transaction process, Litecoin happens to use speed to complete its transaction process. This feature makes its usage easier and faster. Most people will likely want the easy way out and opt for Bitcoin.
Using physical cash to buy Litecoin is acceptable just like any other cryptocurrency. A simple transfer of money to Coinbase will make you an owner of a Litecoin.
Unlike Bitcoin where you need a computer with a powerful computing effect, Litecoin uses memory and some amount of computing power to mine. This makes it readily available for everyone to mine.
There are other good digital currencies on the market you may want to look at. Its just a matter of choice and what suits you the most. But If you are looking for the best, you might want to try any of these three listed above.