If you’re looking to invest in cryptocurrencies, you’ll be glad to know that there are thousands to choose from, and only a few require credit card details. These currencies allow you to trade cash for digital assets without any hassle. Bitcoin rose to fame in 2017 and was as valuable as major banks. While there are thousands of different cryptocurrencies, we’ll only list the top five for your consideration. In this article, we’ll take a look at the key differences between these cryptocurrencies and other options.
As of this writing, Bitcoin is the most popular of all cryptocurrencies, ranked by price and market cap. Many businesses accept it as a form of payment, including Visa. In fact, Tesla invested $1.5 billion in Bitcoin in February 2021, and for a time, it accepted it as a form of payment for its cars. Larger banks are also incorporating Bitcoin transactions into their offerings. These are just some of the reasons why Bitcoin has become a top cryptocurrency.
Another cryptocurrency that has gained popularity is Binance Coin, issued by the crypto exchange Binance. Originally designed for discounted trades, Binance Coin has since shifted to payments and purchases. It runs on the Cardano platform, created by the co-founder of Ethereum. Its smart contracts make it possible to manage identity and other details. Another cryptocurrency, Solana, launched in March 2020, touts its fast transactions, but there are only 480 million of them.
As the first cryptocurrency, Bitcoin has gained worldwide popularity and value. Its high volatility is part of the appeal of this asset. However, the currency has a long way to go before becoming a mainstream currency. The Ethereum network, created in 2013, also has its own cryptocurrency, called Ether. The Ethereum currency is the second most popular cryptocurrency, by market cap. Ether’s value has increased significantly since its creation in 2013, reaching nearly $3,000 per token, although it lags behind Bitcoin.
The digital currency, XRP, is native to the Ripple blockchain, allowing financial institutions to move away from the slow, expensive and often red-tape-filled SWIFT network. As a result, it’s ideal for facilitating cross-border payments. In fact, it can process transactions in less than five seconds. But how does this differ from Bitcoin? To answer this question, we’ll look at some of the main advantages of XRP.
XRP is a cryptocurrency that represents value transfers across the Ripple network. At its inception, Ripple created 100 billion XRP coins. Most recently, the company added a smart contract system known as escrows, which automatically place unused tokens in escrow. As a result, it’s a good option for diversifying your digital currency portfolio. Furthermore, XRP transactions are fast, cheap, and secure.
While Ripple isn’t quite at the levels of late 2017, it has surpassed its peak in 2018. Meanwhile, Ethereum kept reaching new all-time highs. However, it’s important to remember that cryptocurrency is volatile. While it might not be as safe as stocks, a small investment in XRP now may be well worth it if you believe that Ripple will rise in value.
Ankr is a cryptocurrency that is designed to make staking easier for beginners. Its unique model enables users to earn rewards by locking their tokens in a staking pool. When users stake their tokens, they are effectively acting as a guarantee for new transactions. Unlike other cryptocurrency tokens, this method can be done with smaller capital investments. Therefore, Ankr is an ideal choice for those who want to start out in the cryptocurrency market.
Ankr’s market value is extremely volatile, depending on reversals and other influential factors. In fact, the crypto market has been more volatile than traditional financial markets. These sudden price changes are a hallmark of the still-developing digital asset market. Despite the fact that it is relatively new, many crypto enthusiasts believe that Ankr will reach its goals and be a major player in the market.
The price of Ankr is currently $0.08 to $0.10 USD, making it a more affordable option for beginners to invest in. This crypto asset has hit an all-time low of $0.00071 and a high of $0.21. This means that investors who invested in Ankr during its initial rise to $0.00071 may have earned as much as 700% or even 2000% profit. However, as of September 2021, the value of Ankr fell from $0.125 to $0.084.