Top Cryptocurrencies New Investors Should Consider Buying
Whether or not you have been following the financial industry, you will have heard about the market volatility of the cryptocurrency market. There was a major downfall in cryptocurrency prices after a move made by China. So, many cryptocurrency investors lost a major chunk of their investment capital. At the moment, cryptocurrency prices are very low which means that it is prime time to buy them. A golden rule of trading is to buy assets when their market value is down and sell them when they skyrocket. While it may not work for every single asset out of these, this rule applies wonderfully to cryptocurrencies.
If you are thinking about investing in cryptocurrencies now when their prices are low, then you should also think about the cryptos that you will be investing in. Here is a list of some of the top cryptocurrencies that new crypto investors should consider buying.
Top Cryptocurrencies For Investments
Bitcoin has always been on top of the market when it comes to market value. While in regular days, a single bitcoin can be quite expensive, at the low market value of today, it is not as expensive. This makes it a great time to invest in the asset and store it for the long term when the market value of the asset will skyrocket eventually.
Ethereum has always been compared to bitcoin and is regarded as its most difficult competitor. With the new update of this blockchain, it is speculated that it will cross bitcoin. Ethereum takes decentralization to another level with blanks of decentralizing the internet in the future. Ether is one of the most popular and major cryptocurrencies in the world and has a market cap of over $400 billion. Ether had 500% gains this year which is can be attributed to its new update which uses the latest technology. The new Ether update has a faster transaction rate, lower fees, as well as a more secure network.
Dogecoin is the meme crypto that did well beyond expectations. The main reason why Dogecoin has been so successful this year is due to the interest of Elon Musk who has been actively supporting the cryptocurrency. He has gone as far as to state that this crypto is bitcoin’s competitor which his followers believe. As a result, Dogecoin saw huge investments from investors all around the world. The meme coin has a large circulation which is why it has maintained its market value of less than $1. However, it saw a surge of over 13,000% this year which made it the 4th largest cryptocurrency as per the market cap.
Polkadot (DOT) is a cryptocurrency that is anticipated to increase in value pretty soon. Several financial experts are referring to Polkadot as a cryptocurrency that will revolutionize blockchain technology. The cryptocurrency has a new system that offers state-of-the-art transaction speed as well as a completely secure code. These two features combined give Polkadot the potential to become a really strong cryptocurrency asset. Investment experts believe that this crypto will make it big on a global scale in the upcoming years and the low market value of now is the perfect time to stock up on the asset.
Cosmos is also another cryptocurrency that investors should consider investing in as many people anticipate its performance in the upcoming years. The Cosmos Hub has over $120 billion worth of assets in its system. At the moment, the cryptocurrency has the least amount of carbon footprint that comes from mining the asset. It uses a breakthrough technology called the IBC which allows the transferring of assets to the independent blockchains on the Cosmos Hub.
If you have been contemplating investing in cryptocurrencies, then now would be a prime time to make your move. This is because the prices of cryptocurrencies are extremely low at the moment and you will be able to create a diverse investment portfolio easily at this rate. In addition to the mainstream major cryptocurrencies, there are also several other altcoins that you can invest in. If your investment capital allows, it would be ideal to invest in a small amount of all of the cryptocurrencies that I have discussed in this article as they are the cryptos that are most anticipated to rise in value in the upcoming months.