Top 5 Cryptos to Invest In
Bitcoin has come a long way since its pseudo-anonymous founder Satoshi Nakamoto first revealed it to the public more than a decade ago.
Bitcoin’s initial price rise occurred in 2010, when its value jumped from $0.0008 to $0.08 — yep, for one whole coin. Laszlo Hanyecz purchased two boxes of pizza from Papa John on May 22 of the same year for 10,000 BTC.
Today, one Bitcoin costs approximately $51k, so picture how much your investment has increased if you purchased Bitcoin a few years ago.
Ethereum’s native asset, Ether, is the second most popular cryptocurrency after Bitcoin. Ethereum is a blockchain-based platform that enables users to execute smart contracts and decentralized apps, or dApps.
When it comes to Ethereum, unlike Bitcoin, which is built for just one purpose: payment, the possibilities are unlimited. Maker (MKR), Basic Attention Token (BAT), Binance Coin (BNB), Tether (USDT), and Chainlink are just a few of the cryptocurrencies that operate on the Ethereum network as ERC-20 tokens today (LINK).
While Ether is mainly used to pay for Ethereum gas fees in order to operate smart contracts or decentralized applications (dApps), it is also now accepted as a form of payment by certain retailers and service providers, and it is traded on major crypto exchanges.
Litecoin, which was launched in 2011, was once seen as a serious rival to Bitcoin, albeit in a “lite” form. It has numerous characteristics with Bitcoin, the most notable of which is that it is a decentralized, censorship-free, and open-to-all form of money. Its popularity has dwindled over time, and it now ranks 13th in terms of market capitalization as of September 2021.
Cardano, a blockchain-based platform designed by Ethereum co-founder Charles Hoskinson, was launched in 2017 as an alternative to Ethereum.
Cardano’s ADA, although relatively new to the cryptocurrency field, has quickly risen to become one of the top three cryptocurrencies in the world by market capitalization and has piqued the interest of many, including investors.
Cardano, like Bitcoin, has a limited supply, which is currently set at 45 billion ADA. Unlike Bitcoin, which is known for its high energy consumption, Cardano is energy-efficient, environmentally benign, and follows a research-based development process.
The Ripple network’s native cryptocurrency, XRP, is meant to help the global financial services sector meet its demands for quicker, cheaper, and more efficient payment settlement, asset exchange, and remittance. It provides financial organizations with a quick and secure way to get money on demand.
Ripple advertises itself as a global payments network with large banks and financial institutions as customers. Its products employ XRP to enable speedier currency conversions.