Have you thought about that which is the best cryptocurrency to invest in? Or, if someone tosses to you such a question on a serious notion or something, how do you answer it?
…One Bitcoin is currently trading at $11,178, an Ethereum hinges at $11,163 …or well, maybe you might decide to place your bet on a cheaper option like Ripple or Steller which both hinge below $2.5.
Well, before settling on or buying any of them, a few factors to match and compare can help you predict the choicest digital money to go for. So brace your as we do a quick analysis of the best cryptocurrency to invest in.
Just to lay facts right, it is highly important to note that all digital currencies are volatile. That simply means the way a coin ranks today is not a guaranteed that it will fly-on-the same way come tomorrow.
For instance, two weeks ago, fears splashed all over after the prices of all cryptos came tumbling down. In fact, following the scenario, even the top experts couldn’t exactly tell what the best cryptocurrency to invest in would have been at the time.
A Bitcoin dropped to sell for around $15,000 from the initial $19,000 –Litecoin had hit a rock bottom of $147. Ripple xrp valued at below $2 while steller and the rest were straggling to maintain the title of just being called digital currencies in the first place.
|study charts to understand the best cryptocurrency to invest in|
Just in case blockchain is a new word to you, here is the explanation. The blockchain is like a network whereby no transactions can be done privately, all parties in the networks will know about transactions happening on any hashed coin.
This ideally ensures security and trust in the system. Hope you got it because anything deeper will be more technical and we leave that to the engineers. Bottom line here is: check to pick the time-period that suits your need.
The Value of The Cryptos: unmasking the best cryptocurrency to invest in
|Check the profit margin to know the best digital money you can invest in|
It is a no-brainer that you are after making a profit by investing in digital currency right? However, most people miss it at the point of “how much capital.”
Because they believe that you must have a huge sum to buy the coins. It’s simple, if the giant cryptos prove too un-affordable, you can decide to buy a good number of the cheap currencies. For instance, you can have 20 ripple xrp.
With each costing let’s say around a figure of $2.5 per token, you will spend 20 x $2.50 which is $50 only. Now, let’s say your coins appreciate to something like $100 each. Your new coin worth will be $2000, what is that? 800% profits returns, right!
To sum it up, you don’t really need to be a crypto genius to enter the game. But you must know the best cryptocurrency to invest in at your level and more so depending on what works for you.
isk assessment is an obvious factor that is why we have not covered it here in details, but that doesn’t mean that you ignore it –only that don’t let it have the better part of your decision.
Well, now that you have some clarity on what the best cryptocurrency to invest in can be let’s know your thoughts in the comments section below. Good luck in your new world of digital currency!