The 5 Best Cryptocurrencies to Invest : An Ultimate Guide
Do you want to invest in cryptocurrency? Cryptocurrency is a digital currency not controlled by any central authority, such as a government or bank. Instead, it depends on blockchain technology.
From Bitcoin to Tether, there are thousands of crypto coins, making it confusing to choose the best ones. Are you struggling to decide which to pick? Let me help you!
Here are the five best cryptocurrencies for you based on their market capitalization:
Bitcoin (BTC)
Bitcoin, launched in 2009, is the largest cryptocurrency by market capitalization. The market cap of Bitcoin is about $599 billion. It is the leading currency in the U.K. The coin is one of the best cryptocurrencies to buy in 2023.
Many businesses have already started accepting Bitcoin as a form of payment. Visa and Stripe allow transactions with Bitcoin. Tesla considered it shortly but might ponder it again if its mining becomes echo-friendly.
With the increase in its popularity, its prices are also increasing. In August 2023, its cost was about $26,002.
Ethereum (ETH)
Ethereum is the second-largest cryptocurrency and the most famous blockchain technology. Its market capitalization is $232 billion. Ethereum is one of the best cryptocurrencies. It is the favorite technology of the program developers, as it allows them to make their own cryptocurrency and smart contracts.
Although Ethereum does not have extensive acceptance like Bitcoin, some companies are allowing it as a payment, like Crypto Emporium and NordVPN. Its growth rate has also increased with time. From April 2016 to August 2023, the Ethereum price rose from about $11 to $1,643.
Binance Coin (BNB)
Binance Coin was introduced in 2017 and can be used for trading and paying fees on Binance, the largest cryptocurrency exchange in the world. In 2021, Binance Coin reached a market cap of more than 90 billion U.S. dollars. You can also trade it for other forms of cryptocurrency, like Bitcoin or Ethereum.
In July 2017, BNB’s price was $0.10; in July 2023, its price was about $243, a gain of approximately 242,900%.
Cardano (ADA)
Cardano is notable for its smaller footprint. It requires less energy to complete a transaction as compared to larger networks such as Bitcoin. This makes its transactions quick and economical. According to research, its daily transactions have also increased.
ADA’s market capitalization is about $10.2 billion. Like Ethereum, Cardano also works to enable smart contracts and decentralized applications. In 2017, ADA’s price was $0.02, and in May 2023, its price was about $0.29, which is an increase of 1,350%.
Polygon (MATIC)
Polygon network is a scaling platform that aims to contribute to the Ethereum blockchain platform. As a layer two solution, it improves the transaction and verification speed of Ethereum by expanding it into a multichain solution.
It has support from Binance and CoinBase cryptocurrency exchanges. The Polygon token, MATIC, can be used for payment services and transaction fees as well as a settlement currency. Its market cap is about $6.29 billion.
Conclusion
No doubt, cryptocurrencies are going to stay! It is a long-term investment. The question is, which one is the best cryptocurrency to buy?
Are you planning to invest in cryptocurrency? Have a look at the above-stated five best cryptocurrencies. Leave a comment below about which cryptocurrency you are thinking of buying!
