THE 5 CRYPTOCURRENCIES YOU SHOULD BE BUYING RIGHT NOW

THE 5 CRYPTOCURRENCIES YOU SHOULD BE BUYING RIGHT NOW

CRYPTOCURRENCY

The growth of cryptocurrency is no secret. The price of some cryptos, like bitcoin, has doubled over the past year alone but with hundreds of cryptocurrencies on the market, how do you know which ones to buy? Well, today I am sharing five of my favorite cryptocurrencies that you should consider adding to your portfolio today and why each one could provide significant returns in 2022 and beyond.

What Are Cryptocurrencies?

Cryptocurrency(Crypto) is a digital asset, money, or currency that isn’t controlled by any authority and is independent of any bank, that is it may be traded freely. Unlike regular currencies, cryptocurrencies work on a blockchain ledger, which is a public bookkeeping of all transactions it records. Each transaction is contained within a new block, added either by a miner or by an online node. The data in these blocks is all encrypted, so it is safe from cyber criminals. Anyone with an internet connection, however, can access the information.

If considering crypto-currency investments, there are a variety of characteristics to pay attention to: the coin's market cap, its trade volume, its past performance, and its potential for future growth. The trade volume tells how many coins of that type were exchanged whereas market cap indicates how much money has been put into a particular coin.

5 CRYPTOCURRENCIES YOU SHOULD BE BUYING RIGHT NOW

Data is accurate as of Sept 15, 2022

BITCOIN (BTC)

Bitcoin(BTC) is an original digital currency that is decentralized that may be exchanged through the bitcoin peer-to-peer network. Satoshi Nakamoto founded it in 2009. In the past 13 years, from 2009 to 2022, Bitcoin(BTC) has grown in popularity, and its value has risen to a market cap of $383,884,287,172 In April 2014, you could buy one Bitcoin(BTC) for about $340 - $530. Now Sept 15, 2022 Bitcoin(BTC) is $20,051.16 which is more than a 4,000% increase.

RANK:#1

ETHEREUM (ETH)

Ethereum(ETH) is a decentralized, open-source blockchain that supports smart contracts and it is also a cryptocurrency. It was founded by Vitalik Buterin a programmer in late 2013 and it went live on 30 July 2015. Since its launch, Ethereum(ETH) has skyrocketed with a market cap of $196,242,951,260. From July 2016 till Sept 15, 2022, Ethereum(ETH) has had an increase of more than 13,516% having a price of $1,601.11

RANK:#2

RIPPLE (XRP)

Ripple(XRP) is a technology that serves both as a cryptocurrency and a financial service and also as a bridge currency between other currencies. Ripple(XRP) was released in 2012 and had a stable release on 15 May 2018. With a market cap of $16,852,278,971 and has had more than a 5,800% increase from the early beginning of 2017 at $0.006 to now Sept 15, 2022, at $0.3384

RANK:#7 

LITECOIN (LTC)

Litecoin(LTC) is an open-source software initiative and a peer-to-peer cryptocurrency that was issued under the MIT/X11 license, which was prompted by Bitcoin(BTC), which was one of the first cryptocurrencies to emerge, debuting in October 2011. Litecoin(LTC), with a market cap of $4,213,993,681. From July 28, 2016, with Litecoin(LTC) at $3.97 to Sept 15, 2022, with Litecoin(LTC) at $59.21 that is a 1,489% increase which means if you bought $100 worth of LTC as of 28 July 2016 will be equal to 25.19 pieces of LTC. Your $100 will be equal to $1,491.49 today Sept 15, 2022.

RANK:#21

NEO

Da Hong Fei and Erik Zhang launched NEO, an open-source decentralized blockchain application platform, in 2014. Since its renaming from Antshares to Neo in 2017. Neo has a market cap of $626,430,414. NEO is on this list because it has the possibility of reaching $66.72, so buy now at $8.88 on Sept 15, 2022.

RANK:#63

What you should know before investing in them

Before you invest in any crypto coins, you should ask yourself some important questions. What is your investment goal? Are you looking for short-term or long-term gains? What is your tolerance for risk? Do you want to buy into a coin that has a solid track record and can be trusted, or would you rather invest in an unknown coin with great potential but also high risk? You might also want to consider whether trading crypto coins is allowed in your country before investing.

5 steps on how to pick top crypto coins

1. Don't invest in anything you don't understand. Avoid coins that have nothing but hype and marketing and no substance or product behind them. 

2. Invest only in things you can afford to lose. No one knows for sure what will happen with crypto, so be careful about putting all of your money into it. 

3. Do your research on the coins you are considering investing in before actually buying any of them, including researching their market caps, founders, competitors, pricing information and more. 

4. Check out social media channels to see what investors are saying about a particular coin that interests you - they may have some great insight that has not been discussed elsewhere! 

5. Think about which type of investor you want to be: trader, venture capitalist, long-term investor? Your goals should dictate how you're willing to risk your investment dollars.

Wrap Up

In an uncertain economy, it pays to be well-rounded. Investing in cryptos can give you more freedom of choice when life throws you a curveball. Plus, trading Crypto-currency is fun and often profitable. The five currencies highlighted here are just the beginning of what could be a prosperous future for both yourself and the entire Cryptocurrency industry. But don’t just jump on any cryptocurrency out there, do your research before jumping in, remember Cryptocurrency is not a get-rich scheme, so prepare your mind and be patient.

See you soon!!!