Cryptocurrency exchange is now gaining ground. Its presence is not unknown to the majority as Nigerian government recently made rules to ban its operations in Nigeria.
While this may mean a clampdown on crypto exchange, it may not stand the test of time as Nigeria was reported to be the second best crypto trading country after the US. Unfortunately, some critics still see cryptocurrency as “fraud” and “dangerous.”
Warren Buffet, a professor at Columbia University, referred to cryptocurrency as “rat poison, a mirage and worthless.”
His argument being that they are worthless because they don’t produce anything merely an exchange depending on market price.
This may not be the case as the number of investors keeps growing. Elon Musk, the world richest man, declared his support for cryptocurrency openly by tweeting about Bitcoin and Dogecoin.
If you are interested in investing in cryptocurrency, you might want to check some of these coins out.
Bitcoin
I bet you weren’t expecting any other crypto as #1. Yes! Bitcoin is the most valued cryptocurrency in the world.
This may be due to either its quality as the father of all other cryptocurrencies or because of it’s worth.
Bitcoin was invented in 2009 by some group of people under the pseudonym Satoshi Nakamoto.
About 21 million Bitcoin is expected to be produced which is expected to happen by 2140.
With Tesla’s investment in Bitcoin, the price continues to surge upward with a market cap of $600,000.
With the highest number of investors, Bitcoin can be said to be the safest coin to trade. While Bitcoin is the Romeo of crypto, Ethereum is the Juliet.
Ethereum
Recognized as the most common crypto after Bitcoin. As said earlier, it’s the Juliet of cryptocurrency.
While its price may not be as high as that of bitcoin, it has been making headway by increasing as others surge forward.
It runs as software that enables decentralized applications to be built and run without fraud or third-party. It is no doubt, one of the best cryptocurrencies to invest in.
Litecoin
this was invented by Charlie Lee, former Google employee, to improve transactions by making it two and half faster than Bitcoin.
Due to this, it has gained wider acceptance by merchants who receive it in exchange for their goods or services.
Since it’s beginning to gain wider acceptance, its price would most likely increase soon and it will gain even wider recognition.
Bitcoin Cash
This is a hard fork of Bitcoin and it has remained the most successful one.
Bitcoin Cash was created with an update in code that enables faster transactions. Its quality as a Bitcoin Cash enables its price scalability.
While the price may not be as high as Bitcoin, it tends to accrue values faster than all other coins its group.
Binance coin
it is the official coin of Binance. The wallet allows users to trade Bitcoin, binance and other coins. Its wide acceptance keeps its price minimal and it is currently one of the most affordable coin.
Although some coins are vulnerable to crash in price, yet a crash in price of certain coins will be pumped by investors, if such coin is widely invested in.
This is why you need to invest in a reputable cryptocurrencies. Since cryptocurrency is generally decentralized, it cannot be manipulated by a single person.
Don’t miss important articles during the week. Subscribe to techbuild.africa/blockchain weekly digest for updates.
