5 Popular Options for First-Time Crypto Investors
Cryptocurrency is a type of digital currency that is not managed by a central system like the government. Crypto is based on blockchain technology, and it’s only becoming more and more popular. By now, most of us will have heard of Bitcoin at least. With this digital currency continuing to gain an increasing amount of traction on Wall Street, and a bigger number of cryptocurrency options becoming available, if you are thinking of making an investment in crypto for the first time then it’s a good idea to know which ones to watch out for. While there are more than five thousand cryptocurrencies available, these are some of the best investments right now.
Bitcoin is the first and the most well-known of all cryptocurrencies. It’s been around the longest and is the most stable – all other coins tend to fluctuate based on how Bitcoin is performing at the time. You can purchase a fraction of a Bitcoin at an amount that is affordable to you if you don’t want to make a huge investment at first. Use okx.com to covert Bitcoin to fiat currency and find out how much you could get for your money.
If you are looking to invest in an alternative to Bitcoin, then Ethereum is a great choice. Along with being a digital currency, Ethereum is unique as it is also a network that allows developers to use it in the creation of their own, new crypto coins. Although ETH has not yet caught up to Bitcoin when it comes to value; it is not far behind and is one of the most valuable Altcoins currently available, making it well worth considering.
Ripple stands out from the rest of the crypto coins available thanks to offering international transactions and the XRP token. Unlike bank payments that may take up to ten business days to complete when you are sending money to another country; and even longer if you are making a large transaction; you can use Ripple to send money to anywhere in the world within just seconds. With contracts with most of the world’s major banks, it’s a highly accessible coin.
Tether is tied to the U.S. dollar, making it one of the most stable cryptocurrencies available for anybody who is looking for a lower-risk crypto investment choice. One dollar is stored in the Federal Reserve Bank for each unit of Tether in circulation. This makes it a perfect choice for anybody who is interested in transacting with crypto rather than simply investing in it.
A crypto coin that has been in the market for as long as Bitcoin, in 2017; Litecoin was the first crypto coin to complete a Lightning Network transaction, which was done in less than a second. This makes it four times faster than Bitcoin for completing transactions.
If you are interested in making an investment in cryptocurrency but don’t know where to start; these are some of the most popular, stable, investment options to consider. Once you get started, there are thousands of other cryptocurrency options to explore and invest in.