While it’s true that with its popularization, we are getting better at understanding what cryptocurrency is and how to acquire it, it still remains challenging and rightly so to know which cryptocurrency to invest in. This is certainly due to the ever-increasing number of crypto assets listed on the market, about 14,000 to date. Here, you will find the most interesting virtual currencies in which you can invest with peace of mind.
The Reference Cryptocurrency: Bitcoin
Launched in 2009, it is somewhat like the “mother” of cryptocurrencies. Today, it is the most significant cryptocurrency. One cannot discuss cryptocurrency and digital asset portfolios without mentioning Bitcoin. Two reasons make it the best virtual currency to date. Firstly, Bitcoin Prime is rare. Unlike conventional currencies that can be endlessly printed, Bitcoin has a cap (21 million Bitcoins), hence its rare nature. Secondly, it is widely adopted. Bitcoin is currently the most sought-after crypto asset, contributing to its increased value. It is currently valued at 42,588.5 US dollars. El Salvador has even made it its national currency. However, Bitcoin has a low transaction speed, which represents its main drawback.
Ethereum
It is the second most significant virtual currency at present. Its importance stems from the fact that it represents the technology on which the majority of blockchain projects (a platform that manages various transactions, secures them, and controls the issuance of different cryptocurrencies) rest. Ethereum is in some ways the future of cryptocurrency. Its weakness lies in the fact that it remains costly in fees, very energy-intensive, and above all, it still has a limited number of transactions. Nevertheless, it remains a very promising currency and is worth 2,664.73 US dollars as of today.
Ripple
Ripple is another virtual currency to watch out for in the current crypto-currency market. Ripple technology is a real challenge in the virtual currency world and a genuine threat to the conventional currency system. Its advantages lie in the fact that it is much less expensive than the technological tools currently used in the global banking sector. Moreover, it has already been adopted by a large number of financial institutions that use it to accelerate the processing of their financial operations while reducing fees for their clients.
Stellar
It is a payment network with a functioning system similar to Ripple, which has the advantage of being able to process transactions in multiple currencies because it is integrated with banks. Its main goal is to facilitate international transfers. Stellar is ideal for micropayments. It is also partnered with some major companies such as IBM.
Dash – Digital Cash Par Excellence
Dash is also a very promising cryptocurrency. It offers a large number of advantages. On one hand, it is ideal for everyday payments as it allows ultra-fast transactions, 3,600 times faster than the Bitcoin network. Additionally, its instantSend feature allows for instant transactions while the privateSend option allows for private transactions.
In conclusion, we observe that despite the existence of a multitude of virtual currencies based on the same operational principle, they are not equal on the market. The five main cryptocurrencies listed to date are Bitcoin, Ethereum, Ripple, Stellar, and Dash. These cryptocurrencies represent a real challenge for the evolution of finance in the future.
