Cryptocurrencies are all the rage nowadays, and everyone wants to get in on the action.
However, it can be confusing to figure out which one is right for you. Just look at all the options. Bitcoin, Stabila, Ethereum: the list goes on and on (and on).
Well, have no fear. This article will help you figure out which cryptocurrency is right for you as a beginner investor. Let’s dive right in!
Bitcoin was created in 2009 by a computer programmer, or group of programmers, going by the name Satoshi Nakamoto.
Bitcoin was designed as an alternative to bank-controlled fiat currency, like dollars and euros.
So BTC has no control from any bank or government – it’s entirely self-contained. It’s also one of several digital currencies that work similarly to regular money.
You can use it to purchase goods and services. The idea is that one day you might be able to pay with BTC just like you would with USD today -no cards required.
As the first cryptocurrency and the most successful one, it should obviously be tested by every beginner.
This little-known coin with a powerful platform behind it has made my list of Best Cryptocurrencies to buy in 2022. It also offers its own token named Zoom.
It doesn’t shoot up like other altcoins. Still, its potential for steady growth through smart development will give you an excellent opportunity to make a big profit when you cash out.
This blockchain’s developers work hard on solid products and innovative solutions that could bring great advantages to real estate marketplaces across many industries.
Currently, stabila is offering Airdrop. You can join and get free tokens, coins and other things.
If you’re a beginner and want to own your first crypto coin, I would recommend buying Ethereum (ETH).
ETH is available at many exchanges, has low transaction fees, and is simple to use. Plus, as it’s geared toward decentralized applications (DApps), you can actually use your ETH on more than just speculation.
Beyond that, you can also mine ETH; mining means receiving ether in exchange for contributing processing power to help run its distributed application platform.
As of June 2022, there are dozens of good options when it comes to mining pools—in fact, Ethermine even allows novice miners to get involved with running a pool!
Though not as valuable as bitcoin, Ripple’s fast transaction times and lower transaction fees may make it a good choice for online transactions.
Since it’s based on open-source protocols, there are a number of wallets that support ripple. It can also be traded on most major exchanges.
However, an investment in XRP doesn’t necessarily ensure returns because it operates independently of banks or other centralized financial institutions.
Ripple’s value depends primarily on market demand, which could fluctuate widely over time. Every beginner should give it a try at this one.
Litecoin, launched in 2011 by former Google employee Charles Lee, has long been touted as an alternative to Bitcoin. It shares a lot of similarities with Bitcoin:
- It can be mined with specialized hardware called ASICs (application-specific integrated circuits).
- Its total supply will be capped at around 84 million.
- There’s a fixed transaction fee of 0.1 LTC per transaction.
Buying Bitcoins faster block generation time of 2.5 minutes versus 10 minutes for Bitcoin and ability to have four times as many transactions per second makes it more efficient than Bitcoin and many other altcoins.
Dash has been around since 2014, and it’s built using a decentralized master code network.
This means it can function without relying on a central server or any single administrator. However, each master node requires 1,000 DASH to run.
The other benefit of Dash coin is that it can send instantaneous transactions across its blockchain thanks to its two-tier network.