Cryptocurrency is a big deal these days with new ones popping up every day. While some of these can be worthwhile investments, many don’t grow or end up dying out before they really get going. With so many cryptocurrencies available, it’s easy to become confused.
We’ll examine some of the fastest-growing ones out there and provide information about them. When you’re investing in cryptocurrencies, choose the ones that give you the best possible return on your investment. There’s no denying that cryptocurrency valuation is volatile, but there are some that are more stable than others.
Bitcoin
The grandaddy of cryptocurrency, Bitcoin, was created in 2009. It’s had one of the biggest growth spurts of any cryptocurrency and runs using blockchain. Bitcoin is one of the most secure of the currencies, which makes it a leader for growth over time.
In 2016, a single bitcoin was only $500, but today that has skyrocketed to more than $43,000. While other currencies suffer from market fluctuations, Bitcoin has sustained a high value and relative stability.
If you’re interested in Bitcoin dip news, then learn more about it.
Ethereum
Ethereum is unique because it’s not only a cryptocurrency but also a platform for blockchain. People use Ethereum for many reasons including non-fungible tokens and smart contracts. Ethereum has quickly become a household name and experienced significant growth through the years.
Five years ago, the cost of Ethereum was only $11, but today is more than $3,000.
DogeCoin
While it was originally a joke in 2013, DogeCoin has quickly become a leader thanks to its low price, catchy name, and countless memes. It’s become famous thanks to people like Elon Musk and other celebrities.
Bitcoin and other cryptocurrencies have limits on the number of coins created, but not DogeCoin. This leads to more volatility because as supplies increase, the demand drops and so does the valuation. When initially introduced in 2017, the cost was $.0002 but is now $.20. That may not seem like much, but when you compare it to when it started, it’s a 101,800 percent increase.
Tether
Part of what makes cryptocurrencies volatile is they are not backed by anything. This isn’t the case for Tether, which are backed by Dollars and Euro, which keeps the valuation more stable. It also limits the valuation as well.
This decrease in volatility is why it’s a favorite among investors.
Marscoin
Are you looking for a cryptocurrency for a cause? Marscoin was created to support the colonization of Mars and other spacefaring projects. In 2014, Marscoin split 800,000 donations between The Mars Society and MarsOne.
The goal is to provide an economic system to Mars once the colony is formed.
Invest in Cryptocurrencies
Cryptocurrencies are all the rage and they’re not going away anytime soon. If you’re interested in cryptocurrency, then consider investing in some of these fast-growing ones. Many have been around for a while and show more financial stability than others.
If you want to know more, then please explore our site.
