Cryptocurrency is a familiar term at present, and you have read about it in various newspapers. The Bitcoin algorithm, as you know, are centrally regulated by the government or an organization like banks.
But this currency is different. It only exists virtually, and you can have as many Bitcoins as you want. You won’t have any restrictions in owning this ultra-modern virtual asset. It is the most sought-after currency by the millennial like you these days.
If you are fascinated with this cryptocurrency concept, and want to invest in it, you can surely opt for the bitqt app that will assist you in selecting the appropriate transactions that will add more money to your wallet.
It is one way of purchasing cryptocurrency. But you can also go to crypto exchanges or brokers to trade in it. Another alternative way to invest in it is through the financial derivative market that deals in Bitcoin futures. There exist other instruments as well, like Bitcoin trusts and Bitcoin ETFs.
When talking about cryptocurrencies, you might get puzzled initially, as only Bitcoin is already mentioned before. But other cryptos are operating in this market along with Bitcoin.
Let’s check out all types of cryptos that are worth your investment.
It is the foremost invention in terms of cryptos, with more than 19 million coins in circulation. It also has the largest market capitalization and is the most popular among all cryptos.
The best part of this currency is that it has wider acceptance among the mass and is easily tradable across all crypto exchanges without centralized regulation and limitations.
In the starting, people were receptive to its operation. But with the gradual passing of time, its price slowly rose, and now it has captured the top position in the world of digital asset.
2. Ethereum (ETH)
If you are not that confident about Bitcoins, then you can get your hands on various other types of cryptocurrencies available in the trade market. In this, case Ethereum might be the one for you. This asset had limited the supply of Ether to 121.37 million coins allowing them to handle a large number of transactions per second, thereby improving its scalability and minimizing the transaction fees.
3. Binance Coin (BNB)
When it comes to trading volume, Binance is the most prospering crypto exchange. It always keeps a strict check on the number of its coins in circulation, as this increases the token price of the existing coins that occured in 2021.
4. Tether (USDT)
This cryptocurrency is a bit different from the others, as it is closely linked to the U.S dollar for its valuation, so it is considered a stablecoin and is less volatile as compared to Bitcoin.
5. Decentraland (MANA)
It is a 3D virtual reality game that operates with the help of Ether blockchain and uses MANA as the currency to purchase online video games and land parcels.
It has potentiality at present as MANA is considered to have the largest market capitalization in the field of gaming cryptocurrency.
6. Algorand (ALGO)
This blockchain was formulated by computer scientist Silvio Micali, who applied a “proof-of-stake” algorithm ensuring low consumption of electricity compared to Bitcoins and other networks.
It is also a good competitor of Ethereum and is trying to surpass its predecessors.
7. Render Token (RNDR)
This digital currency has its network called the Render that allows its miners to provide more computing power to the graphic artists and creative studios, who require massive graphics with high bandwidth.
8. Cardano (ADA)
This is one of the cheapest digital assets that you can buy. Even though it had reached its peak in September 2021 at $ 3.10,but again had a fall in its price in early 2022.
Well, you might decide on investing in this virtual asset after reading all this. However, if you have firm believe in the crypto realm, then you must do all the necessary researches on your own first and then get indulged in your investments.
This market is unique and innovative, and you need to have a fair idea about it. Only then can you get a good return from it. Or else, all your hard-earned money can be quickly get lost in this highly volatile market.