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With the pandemic still going on, cryptos have been experiencing a rollercoaster ride the past two years. While the Bitcoin rose to an incredible all-time high of almost $50,000 earlier this year, there was a crash soon afterwards. Most of the major cryptos like Bitcoin, Dogecoin, and Ethereum remain in a slump; but, this may be actually a good time for investors. And these cryptocurrencies can be securely traded with the help of trading bots. One such recommended trading platform that generates profit from trading cryptocurrencies is the Bitcoin billionaire. With the bitcoin billionaire test, you can also know whether it is a trustworthy platform or not.
Here are 7 of the best cryptos that you can consider investing in now:
- Bitcoin Cash (BCH): Bitcoin had been the first crypto to enter the cryptocurrency world and justifiably stole the show. Many other cryptos emerged after the Bitcoin but it continued to hold its sway. However, users complained of slow transaction speeds because size of blocks was only 1MB. Bitcoin Cash was thus created to alleviate these problems; it was an outcome of a fork in 2017. The block size for BCH is 8MB and this crypto shows great potential in terms of scalability.
- Cardano (ADA): This is the product of a decentralized blockchain using Ada, a native crypto, for securing P2P transactions. Founded by Charles Hoskinson, Cardano was designed to consume only fraction of the energy needed by Ethereum and Bitcoin. This could be done by using the Proof-of-Stake protocol which refrains from incentivizing high-energy consumption. Today, it is one of the most valuable cryptos around transitioning towards smart contracts.
- Ethereum: This crypto has always been second to the Bitcoin in terms of market cap with a native currency Ether. The decentralized platform or DeFi lets users create smart contracts. These contracts are automatically executed when conditions are met. This helps to eliminate third parties like banks or brokerages.
- Bitcoin (BTC): This is of course always as “safe haven” for investors, even during the Covid pandemic. Both institutional and individual investors are keen to start crypto investments with BTC. The recent endorsement of the crypto by Elon Musk and Tesla’s investment has given the Bitcoin a big boost. You can trust the coin to keep performing well even in this year.
- Dogecoin (DOGE): This popular new coin has experienced an unbelievable surge this year. It has gone up several notches to become the 8th in terms of market cap. Dogecoin prices are still below a dollar since it has a large circulation and can be mined in an unlimited capacity. Bitcoin, on the other hand, has a finite supply of 21 million. Dogecoin has faster mining rate compared to the Bitcoin and this gives it an edge over this crypto.
- Binance Coin (BNB): Like the Bitcoin, this digital asset has a finite supply of 200 million. This is why it is the 4th most valuable crypto today. Binance platform’s native currency is the BNB which was up 700% and more this year itself. It however has a distinct model compared to other coins because it “burns” much of its coins every quarter. With a $50 billion market cap, this coin is no more an object of speculation but has a bullish outlook as the Binance exchange keeps growing.
- Polkadot (DOT): Cryptos have subjective measures as far as “fundamentals” are concerned. This is why unlike stocks, for cryptos, there will be other credentials significant for consideration. For instance, the individual who started the project is one such factor. Here, Ethereum co-founder Gavin Wood was responsible for making DOT one of the most investment-worthy cryptos today. DOT is advantageous since it may be used like a bridge between networks. So, apps built on the platform Polkadot can work on both Bitcoin and Ethereum networks.