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Cryptocurrencies can be a crucial part of your investment portfolio if managed right. Buying multiple cryptocurrency coins can even assist with augmenting your investments as enhancing protects you from losing all your hard-earned money. Crypto trading is one of the most popular methods to make money, but there is a lot of volatility that makes it highly risky. In the grand scheme of things, this would be a scary thought for any hard-working person, but when there is a high risk, there is a pretty good chance of scoring even a higher reward. There are other effective strategies to make profits with cryptocurrency. This article features the list of the top 10 cryptocurrencies to buy before April if you want to become rich.
There's absolutely no surprise whatsoever that Bitcoin still reigns as the world's most popular cryptocurrency. Its market cap currently stands at nearly $1.1 trillion. If Bitcoin were a company, it would be bigger than Meta Platforms (formerly known as Facebook) and Tesla. Bitcoin continues to enjoy the advantage of being the first cryptocurrency. It's more widely accepted than any other digital coin, mainly because it's been around longer.
Ethereum ranks as a somewhat distant No. 2 to Bitcoin on the list of the most popular cryptocurrencies. Its market cap is hovering around US$500 billion, less than half the size of Bitcoin. But some believe that Ethereum will be the next Bitcoin. The key edge for Ethereum is its real-world utility. Its blockchain supports smart contracts that can be used in a wide range of applications. In particular, Ethereum is well-suited for creating non-fungible tokens (NFTs).
Binance operates the biggest cryptocurrency exchange in the world. It makes sense, therefore, that Binance Coin is the third-most-popular digital coin on the market. It's the native coin on the Binance exchange and currently has a market cap of over $96 billion. Investors who pay transaction fees with Binance Coin receive discounts. Each quarter, Binance reduces the supply of digital coins based on trading volume.
Tether ranks as the No. 4 most popular cryptocurrency in the world. Its market cap is around US$73 billion. But among stable coins, Tether takes the top spot. All stable coins tie their value to another asset. For Tether, that asset is the U.S. dollar. In theory, Tether is like a "crypto-dollar" that should maintain its value in a similar way as physical U.S. dollars do.
Solana is a public blockchain platform. Developed to help power decentralized finance (DeFi) uses, decentralized apps (DApps), and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms that help it process transactions quickly and securely. Bloomberg considers Solana to be "a potential long-term rival for Ethereum". Like Ethereum, Solana can also run smart contracts.
Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum's rivals, aiming to unseat Ethereum as the most popular blockchain for smart contracts. It aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability.
Created by some of the same founders as Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies. It is one of the best cryptocurrencies to buy in 2022.
Meme coins rely on internet hype and therefore it's near impossible to predict which ones will take off. But the meme coin Samoyedcoin has piqued the interest of Daniel Polotsky, founder of CoinFlip, a Bitcoin ATM company. Like Dogecoin, it bears the face of a cute dog and is intended to be a lighthearted and fun ambassador for Solana.
Fetch.ai is a decentralized machine learning platform for applications like asset trading, according to CoinBase. For example, one of Fetch.ai's applications helps users of the crypto exchange Uniswap automate their trading. FET is an Ethereum-based token that powers Fetch.ai. It's gained more than 1,500% in the last year.
USD Coin (USDC) is a type of cryptocurrency that is referred to as a stablecoin. You can always redeem 1 USD Coin for US$1.00, giving it a stable price. On Coinbase, eligible customers can earn rewards for every USD Coin they hold. Each USDC is backed by one dollar or asset with equivalent fair value, which is held in accounts with US-regulated financial institutions.
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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.
