A cryptocurrency is a form of digital money that has become incredibly popular in recent years among people all around the world. Everyone who heard of cryptocurrencies found them as a good way to invest money and make some profit. What is beneficial regarding the crypto market is that it is not controlled by any type of third party or central systems such as the government or banks. Instead, cryptocurrencies are based on special blockchain technology.
As digital money options continue to grow by each day, you can truly have a wide range of different cryptocurrencies available. In fact, there are even 10 000 different cryptos on the market. With such a wide range, people can really become confused and have the dilemma of which crypto they should invest in.
People are using cryptocurrencies for different purposes, some of them are just using them to make online purchases, while some people, well-known as professional traders, are looking at cryptocurrencies as a long-term investment opportunity.
Everyone who is entering the world of the trading market needs to understand that the volatility makes investing in cryptocurrencies risky and because of that, they should be prepared for every outcome and develop trading strategies. The two most important trading strategies are finding a reliable and credible trading platform that you can rely on while investing and you should read more about it, while the other one refers to finding the safest cryptocurrencies that you can invest in.
The fluctuations in the market should not cause fear in the eyes of the investor. It is completely normal to, as a beginner, lose money sometimes. But, something that matters more is to follow the signals, turn mistakes into lessons, and reach the desired results.
The first rule you have to follow is to invest in those cryptos that have the potential to grow in the future. If that’s something that makes you confused, then you have come to the right place. Let’s find out together what are the safest and most perspective digital currencies you should invest in this year.
As you probably know, Bitcoin is generally the cryptocurrency that has been around for the longest period. Since it leads for years and provides a good price on the market, this is one of the safest and most beneficial investment options. It is interesting that many businesses are now accepting bitcoin as a normal payment method, and this is one more clear proof of how this crypto represents a wise investment. Moreover, it is interesting to hear that even Tesla announced that they had invested more than $1.5 billion in Bitcoin and they even accepted this crypto as a payment option for cars.
What makes Ethereum different from Bitcoin cryptocurrency is the fact that it does not present only cryptocurrency. In other words, this is also a specially designed network that is offering developers the ability to create their own cryptocurrencies utilizing the network. It is true that Ethereum is not valuable as Bitcoin, it is still pretty valuable among other competing cryptocurrencies. Although this crypto came out on the market years after some others, we can freely say that now it found its place on the trading market and became highly popular. This popularity is linked to the unique technology that Ethereum provides. Despite that, since it is currently the second-largest crypto after Bitcoin, it could be a wise idea to consider investing in it.
Binance Coin (BNB)
Binance Coin has a long history of low prices compared to the cryptocurrency standards, however, things have changed. In fact, we can freely put the Binance coin in third place on our list of the safest and wisest crypto investments that you can consider. Binance coin took off at the beginning of the last year, and from the price of $38 reached $683 in a couple of months.
The price did not stop falling, therefore after this performance, this cryptocurrency has proven to be one of the most stable and safest investment options. Generally, Binance is the world’s largest cryptocurrency exchange and it has high functionality success, according to CoinMarketCap.
The Cardano network attracts many professional traders for multiple reasons, even though it has a slightly smaller footprint. One of the biggest advantages that Cardano offers is the fact that it takes less energy to compete for a transaction on this network compared to larger networks such as Bitcoin. This is only telling you that this type of transaction is a lot cheaper and faster. For instance, last year Cardano launched an upgrade that completely upgraded its functionality and even enabled a smart contract deployment system. Many traders agree on one thing, Cardano is currently a very secure and adaptable investment option. Best of all, it constantly improves itself in the development aspect in order to stay highlighted.
Polygon cryptocurrency was created by one development team that actually already made incredible contributions to the previously mentioned Ethereum blockchain system.
Basically, this cryptocurrency is launched with the purpose of developing Ethereum infrastructure and scaling. Polygon is considered a second layer solution that is expanding Ethereum into a multi-chain system. In that way, transaction and verification process speeds are highly improved. Polygon is a little behind the Binance and Coinbase cryptocurrencies and its token called MATIC is generally mostly used for transaction fees, different payment services, and as a settlement and stable currency investment.
Solana cryptocurrency comes with a very interesting story since it has taken the crypto market so fast. This crypto was developed in 2023 and started with 0.01% of the market.
What is achieved in several months is reaching the top 10 cryptocurrencies on the market. This crypto truly became a main competitor to the other most popular cryptocurrencies. In 2023, Solana ranks itself so high that it currently sits at $26.4 billion.
The advantages of this cryptocurrency lie in the speed and scalability of the network as well as the ease with which it can be used for creating decentralized apps that run on a blockchain.
All these cryptocurrencies are amazing, and we recommend you research them properly and check out which one has the biggest opportunity to grow in the future. Generally speaking, we suggest you try one by one so you can see in which direction things are going. Of course, if the budget allows you to experiment with things, you can try out all of them at once. But, don’t experience too much as every mistake can cost you a lot!