With the wide availability of cryptocurrencies, investors have many questions about which to invest. One of these is how to choose which one to get into. In recent years, the SEC has started cracking down on initial coin offerings (ICOs) and companies that offer them. Despite the price volatility, many people still want to take advantage of the potential rewards of investing in cryptocurrencies.
We’ve listed the most popular cryptocurrencies, and investing in them is very easy. Before we get into more detail, it’s important to note that you’ll need a digital wallet to use crypto.
Bitcoin
Despite the volatility of the price, Bitcoin is still very popular. It’s still the most talked about digital currency in the world. Since it’s relatively new, many people still believe it’s a significant investment. However, it’s also essential for investors to note that it’s still possible to hold onto the market’s volatility.
Ethereum
When it was first introduced, many people believed that Ethereum would overtake Bitcoin as the world’s dominant digital currency. However, it didn’t happen. Instead, Ethereum has provided a few enhancements to Bitcoin. One of these is its smart contracts, which are designed to allow people to perform faster transactions.
Dogecoin (DOGE)
The origin of Dogecoin can be traced back to the Doge meme. It was created as a joke but has since become one of the most popular cryptocurrencies. Due to its low price, it’s also very accessible to everyone. It’s a coin that’s dedicated to the people, and it’s used to send money to various charitable organizations.
Zcash
The Zcash protocol is a derivative of Bitcoin. Its main difference is that, unlike Bitcoin, transactions in the blockchain are not public information. With Zcash, transactions will remain private. Similar to how you can pay in cash, transactions in the blockchain will not allow anyone to know where and when a transaction originated.
Tether (USDT)
One of the most popular stablecoins is known as USDT. It’s used to stabilize the price of various cryptocurrencies. When the market is volatile, investors tend to move their money into USDT to avoid losing money. This allows them to buy and sell cryptocurrencies at the same time.
Solana (SOL)
The Solana blockchain protocol was created in 2017 by Andrey Yakovenko, a former technical officer at chipmaker Intel. Its main selling point is its ability to process thousands of transactions per Second. This makes it very useful for applications that need to perform a lot of transactions.