About 10 years ago, no one knew the meaning of the word “cryptocurrency”. Only 5 years ago it was associated only with bitcoin. In 2021, there are already more than 2,300 varieties of cryptocurrencies.
Today’s digital currencies are very diverse and applicable in different areas, from online casinos like tonybet.com to real estate investments. Some are worth less than a cent, others are worth tens of thousands of dollars. Some have been on the market for more than 10 years, others for a few days. Some change in value quickly, while others stand still for years or simply disappear.
Which Cryptocurrency Is Better? And What Is the Most Profitable Investment?
The first, most famous, and expensive cryptocurrency. Initially, bitcoin was easy to buy, because it cost less than a cent. But the rapid growth in 12 years made it possible to sell Bitcoin for more than $50,000.
It was created in 2011. Litecoin is based on the same code as Bitcoin, but with a few changes designed to address two of its predecessor’s shortcomings: transaction speed and access to the mining process. At the moment, the price of LiteCoin is a little over $150.
Appeared in 2015. Ethereum incorporated the best: Bitcoin’s basic blockchain concept and LiteCoin’s desire for higher transaction speeds. It has now crossed the $1500 mark.
Which Cryptocurrency to Choose?
Cryptocurrency exchange rates are very unstable. It is impossible to accurately predict its growth or decline. Investing in cryptocurrency is always a risk because the rate is not regulated by the state, political structures and does not depend on other currencies.
Nevertheless, every day more and more people are involved in buying cryptocurrencies, and with it, Bitcoin, Litecoin, and Ethereum are rapidly increasing in prices.
Bitcoin is the main option if you want to buy a cryptocurrency and you are not interested in the process of mining (cryptocurrency mining) itself. Plus, Bitcoin started to rise in value noticeably in 2020 after the pandemic began, and it also became legal in some countries.
You don’t have to buy the whole unit (1 Bitcoin = <$50000), you can buy for example one hundred millionth of it – Satoshi (1 Satoshi = 0.00000001 BTC, which equals 0.000585 USD). But don’t forget, that bitcoin quotation depends only on supply and demand balance, it isn’t regulated or restrained by anybody.
Litecoin and Ethereum are also not likely to disappear from the digital asset market in the near future, as they have gained turnover and have proven themselves well. However, their value and growth are not as great as Bitcoin’s, so don’t expect a sharp increase in the curve in the charts in the near future.
Buying cryptocurrency is a balanced decision. You need to be aware of all the risks and always be prepared for unexpected rate changes. At the same time, many experts and investors believe that large-scale economic stimulus measures will weaken the euro and the dollar, and the use of cryptocurrencies in the traditional financial system will only increase.