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7 Coins To Consider For Investment Purposes

The ups and downs of digital assets make the stock market’s roller-coaster runs seem tame. In early May 2022, the cryptocurrency market saw significant declines. Despite market leaders using almost their entire Bitcoin reserve to bring about equilibrium, UST might not quite recover. However, while the crypto market can be volatile, there are definitely high rewards. If you are unfamiliar with cryptocurrency, here is a list of the best coins to invest in.

7 Coins To Consider For Investment Purposes

7 top coins to consider investing in 

Bitcoin (BTC)
Dominating in both popularity and market cap, Bitcoin’s top spot is unshakable. For investors and traders, it is the go-to cryptocurrency and is also considered as one of the best and popular coins to invest in. People who have held Bitcoin long enough know its remarkable journey from its old coin values.   By January 2022, 18.9 million BTCs had been mined, and the maximum number of BTCs that can be mined — 21 million — is not expected to be fulfilled till 2140. It is believed that if in 2140 it serves as a reserve investment, rather than being used for daily purchases, then miners may be able to profit despite low transaction volumes and the disappearance of block rewards. Hence, investing in BTC still appears to be one lucrative deal. 

Ethereum (ETH)
If BTC ranks at the top, Ethereum is a close second in the best coins to invest in. It is a network that enables developers to build their digital currencies. Comparing the coin values,   Ethereum may be far behind BTC, but it is still ahead of all other competitors. Regardless of how late ETH entered the market, it has exceeded its market position, courtesy of its unique technology, making it the most popular blockchain. 

Cardano (ADA)
Cardano is a third-generation cryptocurrency. The founders launched this coin to better BTC’s scaling issues and ETH’s smart contract deployment principles. Following the September 2021’s upgrade, the number of smart contracts based on Cardano has grown exponentially. Hence, today, it is slowly reaching a position to compete with ETH. Even though Cardano operates in a different manner compared to other cryptocurrencies, it’s still highly volatile. Its price can swing quite a bit in a brief period of time and it is recommended for investors to remember that when it comes to the best coins to invest in, long-term changes are more important than weekly patterns.

Litecoin (LTC)
Launched in 2011 by Charlie Lee, Litecoin is also one of the best coins to invest in   and   is one of the earliest BTC derivatives. Initially, experts even regarded it as the silver to BTC’s gold. Litecoin is based on an open-source global payment network. It utilizes scrypt as a proof of work, decoded using the consumer-grade central processing units (CPUs). Central authority does not monitor its network. LTC and BTC are similar in some ways, but the former guarantees a faster block generation rate, resulting in a quicker transaction confirmation time. Beyond the developers, several merchants accept LTC.

Binance Coin (BNB)
Backed by Binance, the world’s largest exchange, we cannot not include BNB in the best coins to invest in   list .  BNB equips Binance users to lower trading commissions. Binance Coin Token helps fuel the Binance Smart Chain and Binance Chain, the two independent blockchain networks. It implies that BNB truly has a use case. In addition, Binance regularly burns BNB tokens. Consequently, the overall circulating supply falls, resulting in a surge in the coin values.
 

Solana (SOL)
Solana is a rapidly growing competitor for ETH, courtesy of its projects on Web3 and Defi launching on the platform, making it an option in the list of best coins to invest in. Solana’s founders focus on making their token a cheaper and a faster alternative to ETH while still enabling other attributes. What’s more? Solana has also seen a sharp rise in popularity for its use in projects online and NFTs. Because of its increase in the application, there has also been a sharp increase in its fame and price. 

Ripple (XRP)
Ripple is one of the most popular digital assets on this list. It is a viable token that assures fast transactions and low transaction fees, and it is more than an exchange of value. You can use XRP to make cross-border monetary transactions more structured. Since XRP closely works with financial institutions, it significantly lowers the currency exchange rate and offers real-time exchange rates. Before XRP, banks utilized intermediaries for cross-border transactions. Back then, the transactions were expensive and took several days to materialize. XRP adds real value to the world that goes beyond the exchange for an investor. 

2022 looks like one of the best times to make wise investments in cryptocurrency, whether it is getting involved in new currency or investing further in the already strong ones. It is advisable to thoroughly research all markets for the best coins to invest in and not put all your eggs in one basket, especially as a first-time investor.

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