Investing in cryptocurrency is a decision that you must only take if you are sure about it. If you are, the next step is to choose which cryptocurrency you need to consider. Remember, the ideal option for you depends on your technical knowledge and risk tolerance. To give you an insight, here's a list of 7 of the best cryptocurrencies to invest in now.
1.
Bitcoin (BTC)
This cryptocurrency has seen a recent surge after the first Bitcoin-focused exchange-traded fund in the US, known as the Proshares Bitcoin Strategy ETF, was launched and started trading on October 19, 2021. It boosted the excitement over the continued mainstreaming of digital assets. A day after the launch, it reached a new high of US$ 66,930. It was invented in 2009, and since then, many companies have adopted it, including Tesla that bought the cryptocurrency in February 2021.
2.
Solana (SOL)
With one of the most impressive underdog
stories, this cryptocurrency is an excellent choice. It had just 0.01% of the
market when it began, but now it is among the top 10 cryptocurrencies by market
cap. One of the reasons for its rising popularity is its technological
ingenuity. The Solana protocol was built to facilitate the easy creation of
DApps, and the network is faster than Ethereum while having far lower fees and
better scalability.
3.
Ethereum (ETH)
It accounts for over 19% of cryptocurrency's
market cap. It started in 2021 with just a 10.8 percent share but grew popular
quickly. One reason for the rise in popularity is its functionality as a
platform for DeFi or decentralized finance. It hit its all-time highs on
October 29, 2021. It is the go-to network for nonfungible tokens or NFTs.
Image Source- https://ethereum.org/en/
4.
FTX Token
Launched in 2019, this firm has received media
attention recently. It attracted funding of USD 25 million. It's interesting
also because it is non-Bitcoin crypto and is also known as an altcoin. It is up
about 1000% in 2021. A market cap of US$ 7 billion also adds to its popularity.
5.
Binance Coin (BNB)
Binance is the largest crypto exchange in the
world. The native BNB token is issued on the Binance blockchain. It has grown
with Binance's popularity. It rose from 10 cents as the initial coin offering
in 2017 to around US$ 550 today. It is over 1,300 so far in 2021.
6.
Cardano (ADA)
After instantly gaining credibility in 2017,
thanks to Charles Hoskinson, one of the co-founders of Ethereum, this
cryptocurrency has gained more popularity. There is a hard cap on the maximum
number of ADA coins, and it uses a more energy-efficient proof-of-stake
protocol. Both these make it an appealing option for investors.
7.
Yield Guild Games (YGG)
If you want to try a new cryptocurrency, you
can go for this one. YGG is a decentralized autonomous organization that has
built a community of investors and online players who participate in a virtual
economy. The company invests in NFTs and spreads the revenues after it rents out
the virtual assets with its "guild members."
Image Source- https://info.yieldguild.io/
by Shruti , BNS Business News
Source:
https://money.usnews.com/investing/cryptocurrency/slideshows/whats-the-best-cryptocurrency-to-buy?slide=3