Good News for Crypto Lovers Amidst the Banks-tastrophe!!
With banks all over being hit by the current global economic crisis, there’s never been a better time to invest in cryptocurrencies. For those of you who don’t know what cryptocurrencies are, they are decentralized digital assets that enable buying, selling and trading in a borderless and unregulated manner. Cryptocurrencies witnessed a boom in 2017, but it’s only now that their real potential is being unleashed!
Here’s a List of My Top 5 Favorite Cryptocurrencies
- Bitcoin.Bitcoin is the OG of cryptocurrencies and it continues to rule the roost. Bitcoin’s current market dominance is around ⅔ but that’s nothing compared to its remarkable rise in value! Although its market cap only reached $100 million in 2017, it now stands at a whopping $164 billion today!
- Ethereum. Ethereum is a token-based platform that facilitates the development and deployment of decentralized applications, allowing for smart contracts, which automates transactions with the help of Ethereum’s programming language, Solidity. Ethereum has become increasingly popular in recent months, and its market cap has climbed to $62 billion.
- Litecoin. Litecoin is a peer-to-peer digital currency that uses blockchain technology. It has a faster transaction speed than Bitcoin and is capable of handling more transactions at a lower cost. Litecoin hits new highs every day and its market cap is currently at $21 billion.
- Ripple. Ripple is a real-time payment system with features like near-instant transactions and near-zero fees. It has become popular with banks and financial institutions for its scalability and cost effectiveness. Ripple has gained a ton of attention in the last year and its market cap has gone from $250 million to $41 billion.
- Tether. Tether is the first stablecoin to hit the market. Unlike other cryptocurrencies, it is pegged to the US dollar and is designed to maintain its value. Tether has been gaining traction and its market cap stands at $6 billion.
So what are you waiting for? Crypto investments are still in their infancy and are right now the best way to diversify your portfolio. Invest wisely and you just might be making laughable bank by the time the banks get back on their feet!!
