Cryptocurrencies are generating a lot of interest. Major companies around the world are institutionalising them and more and more people are investing in them. Thanks to all this buzz, even celebrities’ interest has now skyrocketed in cryptocurrencies.
If all this has gotten you keen on getting yourself some crypto investments, but don’t know which currencies to invest in, you needn’t worry anymore. Our experts have put together some of the most valuable cryptocurrencies that you can safely invest in. visit here
Read on to know more.
Which cryptocurrency investments should you consider?
Currently, more than 14,000 cryptocurrencies exist in the market. So, how do you choose the ones that will suit your investment goals while minimising your risks?
To help you make a decision, we have chosen some currencies that will create a well-balanced portfolio and offer better returns. These currencies have been chosen based on factors such as:
- Their use cases as mentioned in their white paper.
- Market capitalisation.
- Total coin supply and coins to be mined.
Let’s take a look at the best currencies for long-term investments:
Bitcoin (BTC)
The currency that rules the entire crypto sphere, Bitcoin is the original virtual currency that was launched in 2009 by a person or group of people known as Satoshi Nakamoto. One of the main reasons why Bitcoin is a popular currency is because of its versatility and accessibility. It has been accepted by almost all countries around the world and can be used to pay for goods and services at an ever-growing number of businesses.
Although BTC has experienced high volatility in prices, it has often resulted in high return potential for its investors. If you wish to trade in Bitcoin, get to know the BTC to INR rates.
Ethereum (ETH)
Ether, the native currency of the Ethereum blockchain is the world’s second-most dominating cryptocurrency. Ether belongs to one of the most actively used blockchains in the world- Ethereum. This blockchain conceptualised and pioneered the idea of decentralised finance, a system that does away with the interference of the intermediaries.
One of the most important use cases of Ethereum is its self-executing contracts, also called smart contracts that automate the execution of agreements and terms directly between buyers and sellers. Ethereum also supports non-fungible tokens (NFTs) and is all set for a major upgrade, known as ‘The Merge”. This will allow Ethereum to shift to Proof-of-Stake bases consensus and reduce its energy consumption. Get to know the Ethereum to INR prices before investing in this exciting currency.
Cardano (ADA)
Cardano was launched in 2017 by the Ethereum co-founder Charles Hoskinson to create a third-generation blockchain. It is built on top of the blockchain technologies of Bitcoin and Ethereum.
One of the most important things about ADA is that it is environmentally friendly and has a much greener and more efficient mining process than other cryptos due to its layered architecture. Other factors that make Cardano unique are its fast transactions, which are close to 250 plus per second and economical gas fees.
Polkadot (DOT)
Polkadot, launched in 2016, is an interoperability protocol or a shared blockchain. This means that it allows different blockchains to interact with each other and exchange data without compromising security.
Other benefits of Polkadot include the fact that it is innovative and vibrant and has more than 400 projects already live on its blockchain. A unique feature of this blockchain is that it allows crowd loan functionality. This translates to better decentralization, quicker funding, and higher liquidity. It runs on a nominated proof-of-stake system that allows quick deployment.
While these are just some of the best cryptocurrencies, apt for long-term investments, many others deserve your attention and investment. You can keep yourself updated about the price trends and news about the various currencies on Coinswitch. This platform helps you get educated about each currency’s technology, whitepaper, and prospects so that you are prepared to make sound investments.
