The market cap of cryptocurrencies was more than 3 trillion dollars before the crypto crash. Which is way more than the GDP of many countries.
After the revolution in the decentralised world, more than a thousand cryptocurrencies came into the market. If you are a beginner in terms of investing in cryptocurrencies, then this can be overwhelming when you first enter the cryptocurrency market.
Because the market is filled with different types of tokens and keeps on launching from time to time. To assist you in locating the best cryptocurrencies to invest in at the start, we have made a list of the top cryptocurrencies to buy for beginners.
List of Cryptocurrency to buy for beginners
Here are some of the best and highest potential cryptocurrencies to invest in for beginners:
The market capitalization of Litecoin is over $9 billion. It was first launched in 2011 as an open-source blockchain project. This successful project was created by Carlie Lee, who is also a former software engineer at Coinbase crypto exchange. Litecoin has a few similarities to Bitcoin, which makes it the first cryptocurrency whose code is imitated from the code of Bitcoin. Litecoin was developed to have a faster transaction confirmation time. The vision for creating Litecoin is to be used as an avenue for doing transactions around the world without the need for a mediator. In addition, Litecoin is also considered as the “silver to Bitcoin’s gold”.
Currently, the supply of LTC tokens in the market is around 84 million. Back in May 2021, Litecoin made its all-time high of $415. But today it’s dropped over 50%, and currently it’s trading around $105. This coin has high potential to outperform in the coming future.
The market capitalization of Solana is over $33 billion. It was launched back in 2020 with a launching price of $0.77. Solana made it all the way to an all-time high of $101. Solana has given a gain of nearly 13,000% to its investors within a year, which is really outstanding. That is, if you invested $100 in 2020, you would have $10,100 in 2021.
Solana was developed with a vision to help power the use of decentralised finance (de-fi), smart contracts, and decentralised apps (DApps). The technology working behind Solana to help it process transactions securely and quickly is a unique hybrid proof-of-history and proof-of-stake mechanism.
- Cardano (ADA)
The market capitalization of Cardano is over 33 billion dollars. Cardano is a little bit similar to Ethereum in terms of how it works. Likewise, Ethereum Cardano also works to enable smart contracts and decentralised applications, which are backed by ADA, which is its native token. Cardano is popular due to its early embrace of proof of stake validation. Unlike Bitcoin, this method of Cardano helps to cut down on transaction time, environmental impact, and energy usage by removing the problem-solving and competitive aspect of transaction verification.
As compared to other major crypto coins, we’ve seen relatively modest growth in Cardano tokens. Back in 2017, the price of the Ada token was $0.02, whereas in March 2022, its token was trading around $0.99, which is an increase of 4,800%.
- Polkadot (DOT)
The market capitalization of Polkadot is over $22 billion. Launched in 2016, Polkadot was The Polkadot is a unique blockchain interoperability protocol which was created by the core founder of Ethereum, Gavin Wood.
A polkadot is designed to connect different chains together. Polkadot enables its users to exchange data and process transactions for parallel blockchains or parachains securely. In addition, its blockchain technology enables developers to create their own blockchain using Polkadot security. Back in May 2021, Polkadot made its all-time high of about $55.11. Polkadot has high potential to grow in the foreseeable future. It is the best time for beginners to invest in Polkadot today as it is trading at its all-time low.
- Binance Coin (BNB)
The market capitalization of Binance is well over 68 billion dollars. BNB Coin was launched in 2017 and can be used to trade and pay fees on BNB, which is one of the largest exchanges in the world.
Payment balance coins can be used to process payments, book travel arrangements, and for trading purposes. You can trade BNB coins in exchange for Ethereum, Bitcoin, or other different forms of cryptocurrencies listed on the world’s largest crypto exchange, Binance. The price of BNB coins was just $0.10 back in 2017, which has now risen to around $415. This rise in the price of this token is a gain of approximately 4,10,000%.
If you are looking for an alternative to Bitcoin to invest in, then the BNB token is one of the best alternate options for you.
- Tether (USDT)
The market capitalization of the USD tether is over 79 billion dollars. USDT is known as the stable coin. That means that it is a stable coin, which is backed by fiat currencies like the USD and the Euro. The value of USDT can never be below the value of USD. Hence, Tether is one of the most stable coins and is supposed to be more consistent than other forms of cryptocurrency. Investing in USDT is one of the most favourable options for investors who are too concerned about the extreme bulletin of other crypto coins.
If you’re looking to invest in cryptocurrency with low volatility, then Tether could be the best option for you.
There are a lot of cryptocurrencies available in the market, but it is your responsibility to choose a genuine cryptocurrency to invest in. In this article we have mentioned the top cryptocurrency to invest in for beginners. But that doesn’t mean that you are blindly investing in all those cryptocurrencies that are mentioned here. Before investing in any of the crypto coins, conduct your own research on each cryptocurrency mentioned here. All the cryptocurrencies that we have talked about here are the coins that have high potential to grow in the coming future. If you believe in cryptocurrency, be sure to read our other posts, which will help you analyse it more thoroughly.