What is the rage with cryptocurrency? Why is this crypto trend becoming the talk of the town? Are these questions hitting you at 3 am or throughout the day? We got your back!
Together, let’s be a part of this newfangled trend and foray into crypto trading. Use this article to guide you better on this high rise of cryptocurrency so you can be more aware and try your luck by investing your hard-earned money in this promising and secure investment option.
Crypto – Taking the World by Storm
It’s been a while since cryptocurrency has been a hot topic across the globe and is yet gaining popularity for reasons both good and bad. Increasingly, most companies have started accepting payments through cryptocurrency just like other common currencies that are used in the market. Needless to mention, bitcoin is one of the most popular cryptocurrencies that a large number of traders and investors have been putting money in.
A Walkthrough Cryptocurrency
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Cryptocurrencies and their Essence in the Financial World
Right from when they started to where they stand today, the outburst of cryptocurrencies and the enthusiasm they bring along among investors and netizens are till date making headlines. Cryptocurrency, as the name suggests, is a digital currency that uses encrypted codes for a transaction. Short and simple, it is an electronic currency produced by the application of cryptography which is predominantly used to make purchases of goods and services.
Millions of traders from all over the world have been investing in these currencies and gaining exorbitant profits. However, it is advisable to not pay attention to every cryptocurrency which makes news in the market since not all of them offer equivalent benefits. It is always wise to be sure that the cryptocurrencies you are planning to invest in are worth your money. For this, you need to consider significant factors such as market capitalisation and position of the currency, its progression and future potential.
Let’s move further and learn its benefits and types that promise huge profits in the foreseeable future.
Benefits of Investing in a Cryptocurrency
Cryptocurrencies have several benefits other than money transfers, fiat currencies and traditional banking. Take a glance!
Low Transaction Fees
One of the prime reasons cryptocurrencies have been hitting the market and exponentially escalating in value over the past few years is the low transaction fees. There is a minimal transaction fee involved for investing in a cryptocurrency, regardless of the conventional payment method.
Other than this, if you opt for a cryptocurrency to make payments, the charges are also very minimal in nature. Therefore, this new form of currency is considered an excellent option for making online payments.
No Paperwork or Government Regulation
Another reason that makes people trust cryptocurrencies is, these are a type of investment barring any government regulation. In nature, these are different from other conventional investment options that demand a high amount of documentation.
Some basic details, no unnecessary terms and conditions and that’s it! You are good to invest. It is a lot safer investment where the value of the currency remains stable, no matter which part of the world you are in.
Did You Know? Crypto is also Popular in TinseltownNot only investors but crypto is also popular among B-Town and Hollywood megastars. From Salman Khan to Elon Musk, crypto is promoted by one and all. Many renowned celebrities have made news for trying their fortune by investing in cryptocurrencies like Solana, Bitcoin, Cardano, Ethereum. Recently, the Bhaijaan of Bollywood, Salman Khan, has unveiled the first crypto-token named GARI. |
Lucrative Investment Option
Be it a Bitcoin or any other cryptocurrency, your fund’s value is protected in this type of investment, and there are chances to gain huge profits. For instance, if you invested in Bitcoin when the prices were low, you can make a good profit once the value of the Bitcoin shoots up again.
It has been surveyed that several investors made exorbitant profits by investing in cryptocurrencies. Therefore, if you are interested in purchasing your preferred cryptocurrency, the profit potential is certainly there.
Convenient to Use
Since many digital-based brands have started accepting payments through cryptocurrencies, it is even more convenient to use this unregulated currency. Furthermore, it is expected that almost all companies will begin accepting highly acclaimed cryptocurrencies in the near future.
Sole Ownership Investment
Unlike other investments such as mutual funds, bonds and stockbrokers, cryptocurrencies give you the freedom of being a sole owner. The moment you invest in it, you are the only one taking sole ownership of that particular cryptocurrency, be it bitcoin or any other. No third party will manage the investment for you.
The transactions happen in a peer-to-peer network in the case of cryptocurrencies. You can buy or sell the currency whenever you prefer.
Cryptocurrencies that will Benefit You in 2022 & Beyond
There are thousands of cryptocurrencies built on a peer-to-peer network. Here we have compiled the list of the top 6 cryptocurrencies that are worth investing in. Let’s take a look:
1. Bitcoin – King of all Cryptocurrencies
Bitcoin is the oldest and the first digital token launched in 2009. It is the original cryptocurrency that runs on a blockchain. The prices of this currency have skyrocketed as it is highly common among many segments of society. It is undoubtedly one of the best cryptocurrencies to invest in at any time as it offers prodigious returns. The good thing about this decentralised digital currency is that it can be sent on a peer-to-peer basis without a single administrator involved.
2. Ethereum (ETH) – Second-Largest Cryptocurrency
Ethereum is a cryptocurrency as well as a blockchain platform that is considered to be the second-largest in the world after Bitcoin. This currency possesses state-of-the-art applications such as smart contracts, etc., making it a favourite cryptocurrency of program developers. Among its excellent features, the most impressive is that you can use the currency to serve several purposes. Also known as Ether, the currency was introduced in 2015 and has gained popularity ever since. The high interest for Ethereum in the market has encouraged many investors to consider it as part of their cryptocurrency platform.
3. Solana (SOL) – Gained Popularity in 2021
Solana or SOL is the latest currency in the crypto world that was launched in March 2020. Solana has been a top competition to Ether and has gained exponential popularity in 2021. The second-biggest after Bitcoin, this cryptocurrency is the first to have brought smart contracts into the picture. However, if we go by market capitalisation, Solana is the sixth-largest crypto-currency among others. By using a history-proof transaction validation method that allows approx 50k transactions in a second, SOL is the fastest blockchain in the market. Most of the investors use SOL’s blockchain for NFTs as well as DeFi.
4. Binance Coin (BNB) – High Trading Investment
Binance Coin or BNB is the cryptocurrency launched in 2017 by Binance Exchange. By allowing more than 1.4 million transactions in a second, it is counted among the largest crypto exchanges in the world. BNB was originally created as a token to pay for discounted trades. However, today it can be used for making various payments as well as buying several goods and services. If you do not wish to invest in Bitcoin or Ethereum, Binance Coin would be an excellent choice for you since it is one of the successful cryptocurrencies considering the trading volume.
5. Polkadot (DOT) – Unique PoS Cryptocurrency
Created by Gavin Wood – a co-founder of Ethereum, Polkadot is a digital currency that binds blockchain technology with several different cryptocurrencies. It is a unique PoS cryptocurrency that was launched in May 2020 to deliver integration among various other blockchains. With Ethereum, there is a need for the developers to create their own security measures while creating their own blockchain. However, Polkadot is different from Ethereum. With this cryptocurrency, developers can create their own blockchain along with creating dApps. This is known as shared security in Polkadot. DOT works with the motive of making it more convenient to create and connect decentralised apps, organisations and utilities.
6. Cardano (ADA) – Third Generation Cryptocurrency Platform
Also known as ADA, Cardano is an open-source project that works with the aim of generating a public blockchain platform for applications like smart contracts. This third-generation cryptocurrency platform was created by one of the co-founders of Ethereum that combines Bitcoin and Ethereum, the first-generation and the second-generation cryptocurrencies, respectively. It is a non-profit digital currency that has also made its place in the market among other top cryptocurrencies. It is sure to remain one of the most popular cryptocurrencies in the world due to its fast transactions and flexible network.
Now, let’s get some interesting scoop on the topic of cryptocurrencies. Trust us, you definitely cannot miss out on them!
The Buzz around Crypto – Latest News Update
- “Bitcoin to replace the US dollar – recently announced by Jack Dorsey, the former Twitter CEO” Sounds bizarre, right?
- “A meme by Billy Markus, one of the co-founders of Dogecoin, has been doing rounds on Twitter. What is it about? Well, it says that Dogecoin has better stability than the US dollar”.
In a recent interaction between Cardi B – the Grammy Award-winning rapper and Jack Dorsey – the former Twitter CEO, the latter announced that Bitcoin is going to replace the US Dollar. Dorsey is a Bitcoin investor who has confirmed the news that crypto will replace the US currency, and the statement attained huge reactions from netizens on Twitter.
What are your thoughts on this? Will Bitcoin replace the US Dollar? Comment down below!
What’s More to Crypto?
In spite of all the unnerving predictions and buzz, people are showing a substantial inclination towards two popular cryptocurrencies – Bitcoin and Ethereum. Without any doubt, you can try your luck at them as higher prodigious returns are promised.
In the end, if you ask us what’s more to crypto, our take would be, all the potential investors and traders with bated breath are waiting for cryptocurrencies to reach newer heights. So, if you are still unsure and want a more confident return, there’s no harm in waiting for the right time.
