There are several factors to consider when choosing the best blockchain currency to invest in. The age of the cryptocurrency and its potential upside are two primary considerations. Another important factor is the network’s current state. Some blockchains are still relatively new and may not have a large market capitalization yet. Nevertheless, investors should keep a close eye on the market to make informed decisions.
Ripple – Founded in 2012, this cryptocurrency uses a trustless system to facilitate payments. Binance USD – A dollar-backed stablecoin launched in 2019 and regulated by the New York Department of Financial Services, Binance USD uses the Ethereum blockchain to operate. Chainlink – This cryptocurrency is backed by Google and uses a decentralized oracle network to allow secure interactions between blockchains. It also has a partnership with Google, which may prevent it from making any mistakes.
Monero – Another established crypto asset, Monero is best for those who prefer privacy coins. It offers truly anonymous transactions, something that legacy blockchains can’t compete with. Monero’s native token, XMR, hit a 52-week high of $321 in late 2021.
Binance – A cryptocurrency founded by Binance CEO Changpen Zhao, Binance Coin is one of the most popular and liquid in the market. Binance is constantly adding new use cases to increase the demand for Binance Coin. It is also one of the fastest-growing exchanges and uses the coin for transactions on its exchange. It is expected to be one of the fastest-growing cryptocurrencies by 2022 in terms of trade volume.
Ethereum – An Ethereum-based cryptocurrency that supports smart contracts and non-fungible tokens is a popular choice among programmers and is a popular choice for cryptocurrency investors. Its price has increased 1396 percent in the past three years. Ethereum’s price will continue to grow over time and is a solid investment for a long-term investor.
Bitcoin – While the price of bitcoin can fluctuate dramatically in a month, it is one of the most stable and secure cryptocurrencies. It’s worth noting that Bitcoin has a capped supply of 21 million coins, so as demand increases, the price should increase. Bitcoin currently accounts for over 60% of the total cryptocurrency market cap and has tremendous momentum.
Cardano – The price of Cardano is now $0.43. This cryptocurrency is a fast-growing blockchain network. It has a strong community and has become one of the highest-valued digital assets in the world. Its creators claim that it is backed by assets with an equivalent fair value. It is a very promising investment, but there are some risks associated with this cryptocurrency.
Polygon – The Polygon cryptocurrency is a cryptocurrency that is focused on being accessible for digital app developers. It was originally called Matic but changed its name to Polygon in 2021. It is a scalable blockchain network, but isn’t a perfect substitute for Ethereum. Nevertheless, Polygon is a promising contender, with the potential to become the market leader.