Playing a safe game in investing is not going to give you good profits. If you are not taking risks, you will have a little chance of having the freedom to live a better financial life. But that does not mean you should put all your money in any asset without knowing the risk involved in it. The point is to gradually push your risk appetite and take calculated risks that you can afford to lose without disappointment.
Putting your money always in government bonds, fixed deposits, mutual funds are never going to give you the returns that you want. Because inflation and high living cost will take away all the interest that you have gained from such investments, more risky assets like stocks can give you good returns if invested properly.
Moreover, cryptocurrencies have now become potential investment options for many investors. Even though the percentage of investors investing in the crypto market is very low, the number is growing every day.
If you are looking for investing in the crypto market, then read till the end of the post. You will find the most critical cryptocurrencies that everyone must know before investing in the crypto market. Before that, here, I am sharing the benefits of investing in cryptocurrencies.
Benefits of Investig in Cryptocurrencies
If you are not sure why you should invest in the crypto market. Then read on the post, you will find some advantages that cryptocurrencies can offer you.
- No Time Bound: First of all, you can invest and trade in cryptocurrencies 24/7. Because the market is open for the whole day.
- Secure Transactions: Second, the cryptographic security feature allows secure transactions within the blockchain network.
- Low Transaction Fees: The transaction fees in the crypto exchange are meager.
- Alternative Investment During Economic Downturn: As the government does not regulate the cryptocurrencies, they can perform better even during an economic downturn or financial crisis. So they can be a viable alternative investment option.
- Faster and Transparent Transactions: The transactions are quicker, and everything can be traceable.
Now, let’s take a look at the five most essential cryptocurrencies that everyone should know. If you are looking for investment opportunities, the bitcoin-that-provide-freedom-of-transaction-and-investment can help you earn significant profits.
Top five Cryptocurrencies
Choosing the right cryptocurrencies are an essential part of crypto investing. Here are the top five cryptocurrencies that you need to know.
- Bitcoin
Bitcoin, is my all-time favorite, the most popular and valued cryptocurrency. This is the first and best cryptocurrency that you should never miss. Always keep an eye on Bitcoin and its market price, as well as the latest updates. Never worry about the high price of bitcoin because you can buy it at only $1.
- Etherum
Ethereum is one of the best cryptocurrencies after bitcoin. This crypto network is mainly used for developing smart contracts and providing a decentralized network to businesses. The transactions are made through a digital token called Ether in this network.
- Litecoin
Litecoin and are a little bit similar, but Litecoin is very cheaper than Bitcoin. And Litecoin is used for global transactions. The future potential of Litecoin in the banking sector is very bright. So this is one of the essential cryptocurrencies that you must consider for investing.
- Ripple
For international transactions, Ripple provides an excellent virtual network. Many central banks use Ripple for cross border transactions. So the demand for this crypto coin is going to increase in the future. Even though the value of this crypto coin is deficient compared to Bitcoin, it will give high returns shortly.
- NEO
NEO has not a high value as the above two. However, its future potential is very high due to the most innovative blockchain technology, which can be competitive to bitcoin.
Conclusion
The above list of cryptocurrencies includes the most important ones. Although there are many other cryptocurrencies, these are the most demanding cryptocurrencies. So if you ever want to invest in the crypto market, consider these crypto coins to be included in your crypto investment portfolio. Make sure you are ready to accept the loss if anything goes wrong on the market. Now share your thoughts on this article and ask if you have any questions.