Cryptocurrencies prices are booming think more than one time before investing
Cryptocurrencies prices are exploding according to the market situation. It will gain more market capitalization and I think It would be more than that in future.
There are many advantages to investing in cryptocurrency. Such as It is a new digital asset and bringing new ideas of digital currency which is decentralized.
Why Cryptocurrency is Digital Asset?
The way cryptocurrency crazes growing and people are taking an interest in it and people making a profit from and doing the mining. We can say cryptocurrency is a digital asset. According to CNBC In a survey, 13% of American people purchase and treading in cryptocurrency last 12 months. Crypto investment has many advantages such as short duration profit, Quick response, Decentralized. But there are has some negative points. I describe it at the bottom of the article.
How many ways you can make money through cryptocurrency
- Mining for the coin: The process of creating a new coin through solving complex mathematical problems Such as Bitcoin, Ethereum, Dogecoin.
- Buy and Hold: This is a very simple process probably most people are doing. They hold their cryptocurrency for longer periods month, year. When it prices more than the cost price then they sold. And make a profit.
- Day Trading: The buy and selling cryptocurrency on the same day.
There are many other methods peoples use to make money on cryptocurrency. But these three methods I mention are very simple and easy to use. Most people prefer three of these methods.
Top Performing Cryptocurrency Right Now In This Digital Currencies
In the list of top-performing cryptocurrencies, Bitcoin has the top position. Bitcoin was founded by Satoshi Nakamoto. Bitcoin was started trading in 2009 and it is open-source and decentralized.
In the mid of May, due to the crisis, many cryptocurrencies was suffer huge losses. In which Bitcoin has suffered high losses in the last 24 hours it loses 15% of its prices. The crisis happened when Elon Musk tweet he can’t accept Bitcoin as payment the reason in the mining process cryptocurrency consume high electricity and electricity was generated by coal and fossil fuel. Which are released carbon that has a bad effect on the environment.
According to coinmarketcap Bitcoin is trading at $62,607 and its market capitalization is $970 Billion.
It is worth investing in Bitcoin
- High risk and high reward.
- Bitcoin prices per coin are $62,607 before investment think more than one time.
- Long term investment high market demand.
China bans cryptocurrency in their country according to the authority it uses as illegal financial activity.
In this list of cryptocurrencies, Ethereum has a second number. In the future, it will be the first position. Ethereum was founded by Russian programmer Vitalik Buterin. He was founded Ethereum on white paper. Ethereum is an open-source decentralized and works on a blockchain network.
According to the coinmarketcap Ethereun is trading at $3,827 and its market capitalization is $450 Billion.
Ethereum is a unique cryptocurrency than other cryptocurrencies. It uses as both a programming language that is used to develop decentralized apps and other users as a transaction.
It is worth investing in Ethereum
- Ethereum programming language Solidity is used to develop Dapps.
- According to crypto experts, Dapps industry would be the $800 Billion industry in 2022.
- Ethereum recently upgraded into Ethereum 2.0.
- The Ethereum 2.0 transaction rate has 100,000 per second this is more advanced than Ethereum.
Solana is a public blockchain platform it is open-source and decentralized with using proof of stake. Solana is long term rival for Ethereum. On 14 September 2021, the Solana blockchain went offline after a huge transaction caused.
The Solana popularity was increased in mining efficiency and scalability. According to coinmarketcap Solana is trading at $157. 51 and its market capitalization is $47 Billion.
It is worth investing in Solana
- It is good for long-term choice
- It is a fast programming language run in different decentralized apps.
Cardano is a public blockchain platform it is open-source and decentralized using proof of stake and facilitate peer to peer transaction with internal cryptocurrency.
Cardano was founded by Ethereum co-founder Charles Hoskinson. The development of the project overview by the Cardano foundation. And it is the largest cryptocurrency to use proof of stake blockchain.
According to coinmarektcap Cardano is trading at $2.3 and its market capitalization is $70.6 Billion.
It is worth investing in Cardano
- Cardano is among the top ten most valuable cryptocurrencies
- It is a new and trendy cryptocurrency
5. Binance Coin
Binance Coin is a cryptocurrency exchange that is currently the largest exchange in the world in the term of the daily trading volume of a cryptocurrency.
Binance coin was founded by Changpeng Zhao, in 2017. He is a developer who had previously created high-frequency trading software. Binance is initially based in the chain but later it moves out of china because of the Chinese government increasing regulation of cryptocurrency.
According to coinmarketcap Binance coin is trading at $487 and its a market capitalization of $82 Billion.
It is worth investing in Binance Coin
- It is a worldwide cryptocurrency exchange.
- It is a utility coin that allows a user to pay fewer transaction fees.
This is important for everyone cryptocurrency is the most volatile market before investing in cryptocurrency do the proper research about the crypto market and also take advice from the expert.