Planning to buy cryptocurrencies this month? There are more than 7,000 coins in the crypto market right now, which makes it okay to feel overwhelmed and confused. Choosing the right cryptocurrency needs intense research to make smart investment choices. Before making the final purchase, you also need a few things set up like a crypto wallet. Lucky for you, Analytics Insight has everything covered for you. To help you get started, here is a guide for everything you need to know about crypto investments. From detailed FAQs to meanings of complex crypto vocabulary, you can prepare yourself with all the knowledge from this link.
And for the final step, here are 10 promising cryptocurrencies that hold utility and serve a valuable purpose. Looking for crypto coins that have the potential to add value to the market will ensure the growth of the crypto in the volatile market. Here's what Analytics Insight suggests you watch out for.
Countless crypto experts are eyeing Ripple's XRP token for its utility factor. Apart from being a cryptocurrency, Ripple is also an exchange where users can transfer funds globally, faster than traditional banks. Another unique Ripple holds as an exchange is the fact that though a user will send, for example, US$100 to a friend in Australia in the form of XRP tokens, the recipient will get the money in their native currency. This efficient usage has made XRP one of the strongest buys in 2021.
Cardano's aim is to simply solve some of the common problems with blockchain networks, like scalability, sustainability, and interoperability. Its price has significantly grown over the past year, making it the fourth-largest coin according to its market cap of US$49 billion. Cardano is one of the largest blockchain networks that is powered by the PoS system. To add to that, developers are planning to launch a feature that supports smart contracts soon. This new boost will aid the price to go higher.
Tron's value corresponds to its uniqueness. With the ability to process content sharing to popular domains like Facebook and YouTube, Tron is becoming a competition to payment processors like Paypal. Until now, Tron was overlooked by crypto investors. But as people are now gravitating towards investing in cryptocurrencies that serve a purpose, Tron is making the news by challenging Google Play and Apple, who provide the same service at higher costs.
When billionaire investor Marc Cuban announced his interest in Polygon and invested in the project, Matic's price grew more than double on May 26. If that's not enough push to invest in Polygon, this cryptocurrency's protocol helps developers make Ethereum-compatible blockchains. This way Ethereum can become a multi-chain system that Polygon termed as Internet of Blockchains.
At this point, investors can't go wrong with Ethereum. It's the silver equivalent of cryptocurrencies and is the first major crypto project to introduce smart contracts. It's the second-largest cryptocurrency as per its market cap of US$290 billion. It's also the second-most liquid cryptocurrency after Bitcoin, which means you won't have any problems buying or selling Ethereum.
What started as a meme now serves a purpose. Dogecoin's main usage has now become a mode of tipping people online who share useful information or are just hilarious. Over the past year, Dogecoin has been in news for several reasons, be it the Reddit fiasco or Elon Musk become a 'Dogefather'. This popularity is predicted to continue, boosting its price slowly but surely.
In the world of blockchains, Chainlink is one of the first to allow the integration of off-chain data into smart contracts with an Oracle network. This enables blockchains to connect with external data and transactions securely. On account of its applications, experts predict an upward chart for this cryptocurrency as Chainlink's technology is crucial for the advancements of smart contracts.
Binance Coin's popularity shot up in 2021, thanks to its connection to the Binance exchange. On CoinMarketCap, Binance Coin's ranking shot up from 10th position to 3rd position. The reason behind this cryptocurrency's growth is its usability as tokens on the Binance exchange, one of the largest in the world, and its unique consensus mechanism known as the Byzantium Fault Tolerance which ensures total security to the user's funds.
Uniswap is a decentralized exchange that holds the power to change the way trading is done in the future. The technology behind this crypto can completely eliminate the need for a middleman, like a broker, and conduct trade directly between the buyer and the seller. Adding to this, Uniswap also received investment from venture capital firm Andreessen Horowitz, who previously invested in industry giants like Twitter and Oculus VR.
Right now, Bitcoin Cash has a long way to go to reach its true potential and that makes this a good time to buy this cryptocurrency. Bitcoin Cash raised from the ashes of Bitcoin's blockchain shortcomings. Bitcoin Cash supporters believe that Bitcoin has swayed away from its original purpose, adopting several unnecessary features. Hence, the aim of Bitcoin Cash is to do what Bitcoin originally set out to do. Compared to Bitcoin, BCH has a cheaper transaction fee along with a cheaper investment price. Right now, BCH is trading at a value of US$606.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.