Today there are many types of crypto to choose from, and investing in the right one is crucial for your future. Certainly, you want to choose what suits your needs now and what your goals are for the future.
Let us look at the top 10 cryptos you can choose from and find what suits you best.
1. Bitcoin (BTC)
This is designed to store value just like gold. It’s considered digital gold. If you are capable, invest in this, this would be a good choice long term. Keep in mind; this can’t be used as a currency because, aside from the high transaction fees, it is harder to mine as time goes by.
2. Etheruem (ETH)
Now, this is the second cryptocurrency ever made. It’s showing a gain value early this year. It’s made for smart contracts and used in transacting in real estate or NFTs. Transactions are cheaper than BTC but not more affordable than dodge.
3. Cardano (ADA)
This of this as the creative token. It’s an option to traditional banking, which can help unbanked people access financial services and carry out payments. However, compared to Bitcoin Price AUD, its value is much smaller since it was not meant to be a store of value.
4. Tether (USDT)
This is a stable coin for the US dollar. Its price echoes the dollar, and it’s not the type of cryptocurrency you buy, hoping the value will go up. Sometimes it takes days to transfer money to the crypto exchange. If you don’t want to wait, this is for you.
5. Binance Coin (BNB)
I think of this coin as the friendly one. Now, this is the world’s largest cryptocurrency exchange. It was designed especially for use in the Binance ecosystem, which offers rebates to incentivize its use — but there’s more to it than just the trading discount.
6. XRP (XRP)
Its blockchain operates a little differently than most other cryptos’. Other cryptocurrencies open their transaction ledgers and verification processes to anyone who can solve complex equations quickly. Still, transactions are secure as most ledger holders must agree with the verification for them to be added.
7. Dogecoin (DOGE)
This is more people-friendly; it is designed to empower the working class. If you are a non-trader, this is something to consider. The frequency of its highs and lows gives a regular investor a chance to make money short term due to its volatility and low price. They are designed to be a currency due to their low transaction fees.
8. Polkatdot (DOT)
This is a volatile investment, which means you might see high gains, but you could also see significant losses. You can take your DOT to earn interest on it, a bit like dividend-paying stocks. This is because it has so many projects running on its network, including gaming.
9. USD Coin (USDC)
Similar to Tether, USDC is a stable coin pegged to the price of a US dollar. Its goal is to make transactions quicker and cheaper than traditional payments while reducing the instability associated with cryptocurrencies like BTC.
10. Terra (LUNA)
Think digital, decentralized financial establishment. It has its kind of central reserve. You can earn interest on their assets, spend them through its payment system, and even invest in synthetic stocks.
Now that you know more about this new world of trading, and your curiosity is fueled by the desire to start investing, then you are on the right track. From here you can be empowered to work on a stable future by choosing what suits you now.