Before we take a closer look at some of these alternatives to Bitcoin that are trading on the crypto trading platform, let’s step back and briefly examine what we mean by terms like cryptocurrency. A cryptocurrency is a digital coin on a distributed and decentralized network, commonly known as the blockchain. Bitcoin leads the crypto market in capitalization, user numbers and popularity. These virtual currencies do not exist physically as the majority remain entirely tangible, while only some cryptocurrencies have ventured into the physical world with credit cards or other projects. The word crypto refers to typical cryptography that allows for creating and processing virtual currencies and maintains all the transactions all over decentralized systems. While there is an abundance of cryptocurrencies in the market, this article will suggest the best cryptocurrency to buy today that will make you handsome in the long run.
Ethereum (ETH)
Second highest traded electronic form of currency all over the globe with a market cap of around $489,881,081,033.22. Ethereum is a decentralized software platform that enables smart contracts and decentralized applications (Dapps) to be built and run without downtime, fraud, control, or interference from a third party. The primary aim behind the invention is to form a decentralized suite of financial products that each and everyone can utilize without the intervention of the government of the home country as well as international authorities. This platform of ethereum runs on ether as it works like a token. This ether is like wheels to this currency for travel around this platform. Ether, launched in 2015, is currently the second-largest digital currency by international statistics after Bitcoin, although it lags behind the dominant cryptocurrency by a significant margin. Today it is the best cryptocurrency to buy as it is a 30% return on investment every month.
Dogecoin (DOGE)
The story behind this currency is fascinating as it was Instagram meme material. One day, Elon Musk was basically known as tony stark of real-world tweeted that buy dogecoin, and by that single tweet, that demand for this currency boomed, and dogecoin became sold out. Coin, which uses an image of the Shiba inu as its avatar, is accepted as a form of payment by some major companies, including the Dallas Mavericks, amazon and, perhaps most notably, SpaceX, an American aerospace manufacturer industry of Elon Musk. This coin was invented by two software engineers’ billy and Jackson, in 2013. The market value hit its peak of $0.71, and market capitalization was $29.2.
Tether (USDT)
This cryptocurrency aims to peg its market value to a currency or external point to minimize the market's volatility. Other currencies like bitcoin and ethereum are highly fluctuating currencies. In contrast, Tether attempt to smooth out price fluctuations to attract users and lure them to invest as stability will guarantee you good profit without fear of losing money. Tether was founded in 2014 to facilitate the usage of fiat tender electronically. Ether is the fifth-largest cryptocurrency by market capitalization and highly suggests that it is the best cryptocurrency to buy with a bright future.
These are some other cryptocurrencies that one should check in before starting trading.
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By - Diego Bullocks
- December 3, 2021
