The cryptocurrency market is a volatile one. Prices can fluctuate wildly depending on the news and trends of the day, so it’s important to diversify your portfolio. This is especially true for beginners.
While many people want to buy Bitcoin, plenty of other options may be worth considering. The following list will explain why these are some of our favorite cryptocurrencies to buy this year:
Bitcoin
When it comes to cryptocurrency, no other coin comes close to Bitcoin. It ranks as one of the best crypto betting sites option. It has been around since 2009. Moreover, it is the world’s most accepted, stable, and valuable cryptocurrency.
There are over 1,500 cryptocurrencies available today. This includes some that you may have never heard of before (such as IOTA or Bitcoin Cash). However, you can’t deny Bitcoin’s place at the top.
In case you’re not familiar with what Bitcoin is, it’s a digital currency whose transactions are recorded in a public ledger called a blockchain. Since it’s decentralized without any central authority or bank controls, anyone can buy bitcoins. This is without permission from an authority first.
Litecoin
Litecoin is one of the oldest cryptocurrencies and has been around since 2011. It was created by Charlie Lee, a former Google engineer inspired by Bitcoin to create his cryptocurrency. The crypto would be faster, cheaper, and more secure than Bitcoin.
On top of these four main benefits (why many people choose to invest in Litecoin), it’s also important to note that Litecoin is much more decentralized than Bitcoin. There will only ever be 84 million coins available for mining. Moreover, you can mine up to 21 million Bitcoins at any time (in theory).
Dash
Dash is a fork of Bitcoin with several key differences. Dash has a few features that make it better suited for certain applications, such as payments and cross-border transactions. In addition to Bitcoin’s 1-minute block time, Dash has an average block time of 2.5 minutes. Thus, it means it can confirm transactions faster than most other cryptocurrencies.
In addition to processing more transactions per second than Bitcoin or Ethereum, one of the main benefits of using Dash is its privacy features. Unlike many other cryptocurrencies that rely on public ledgers to track all transactions on their blockchain networks, Dash uses advanced cryptography.
Therefore, you don’t have to worry about your financial information being exposed publicly every time you send money through their network (like with credit cards).
XRP
XRP is a cryptocurrency that the Ripple company created. It’s used in cross-border payments but is also different from other cryptocurrencies because it has a centralized ledger (the ability to track all transactions). XRP is the fastest and most scalable digital asset, with transaction speeds of up to 1500 transactions per second. This makes it faster than Bitcoin (BTC) and Ethereum (ETH), which can only handle about seven transactions per second each. XRP has low fees—you can transfer it for $0.0004. Hence, you save money when transferring money internationally compared to using traditional payment methods like SWIFT or PayPal.
