Cryptocurrency is a roaring name today in the financial world that has taken the world by storm. Today there are more than 16000 cryptocurrencies in circulation. A cryptocurrency is a digital form of payment that is decentralized, not bound by any government authority. Using cryptocurrency completely cancels out traditional payments like debit cards, credit cards, and cheques. Like all the other cryptocurrencies, it works on blockchain technology, a peer-to-peer network used to monitor and verify transactions.
Irrespective of whether you are a newbie or an experienced investor, below are the five cryptocurrencies that can invest today itself. Moreover, you can quickly jump-start your crypto journey with one of the best trading app in India. These apps are beginner-friendly to use and provide a seamless trading experience.
Below are the top five cryptocurrencies to invest in today:
1) Bitcoin (BTC)
Bitcoin is the oldest cryptocurrency in the market and still living up to its name. The proof is its price and market capital higher than any other cryptocurrency. It is one of the leading cryptocurrencies today, as people mainly refer to it when it comes to cryptocurrency. It is one of the first names that comes into mind when talking about cryptocurrency. Created in 2009, Bitcoin is the longest-running cripto today. As of this writing the price of bitcoin is $37, 909 and its market capitalization of Bitcoin is $729 billion.
2) Ethereum (ETH)
Ethereum is a well-developed cryptocurrency that has established itself as the world’s de-facto smart contract platform. The token price reached an all-time hike of over $4000, and the project is the second-largest in terms of market capitalization. Vitalik Buterin founded the Ethereum coin in 2014. The Ethereum technology is taken into use to create various decentralized applications.
3) Ripple (XRP)
Ripple is known to be the best cryptocurrency in terms of speed. However, the old-fashioned international transactions between large financial institutions are slow and expensive. Ripple makes an entry here, and it is on a blockchain that has partnered with more than 200 banks. Ripple’s token XRP acts as a bridge of liquidity between different currencies. No matter how much amount you transfer, it does not cost more than a cent to process, and it only takes 4-5 seconds for each transaction to arrive.
4) Shiba Inu (SHIB)
Ryoshi launched Shiba Inu currency in August 2020; in such a short period, it has generated gains of 40 million %. As of this writing, Shiba Inu has a market capitalization of $11 billion. Even though it is a popular currency, it is not as expensive as other currencies; with just a purchase of $100, you will get 5 million tokens.
5) Solana (SOL)
The Solana coin was founded in 2017 by Anatoly Yakovenko. This currency has godspeed when it comes to transaction times. It can quickly process 50,000 transactions per second and has a block time of 400 ms. Therefore, it is considered one of the alternatives to Ethereum with great potential. Currently, there are about 26 million Solana coins in circulation presently.