INSUBCONTINENT EXCLUSIVE:
Bitcoin came into existence in 2009 when the whole idea of digital currency was new to the worldCryptocurrencies are becoming more and more
popular with each passing day
These digital currencies are gaining wide acceptance from people across the globe
They are attracting investors who are willing to take calculated risks and expand their portfolios
However, before investing, it is better to know the results and possibilities beforehand
There are thousands of cryptocurrencies that have little value and no potential returns
So, it's important that you make a wise choice when it comes to deciding on the coin to invest in.1
BitcoinBitcoin came into existence in 2009 when the whole idea of digital currency was new to the world
In fact, Bitcoin, after it came into existence, changed the money game forever
Bitcoin is not just the first but one of the most popular cryptocurrencies we have to date
It works on the principle of blockchain technology that's distributed among a network of computers in large numbers
A per a few reports, Bitcoin's first-mover advantage has put its market capitalisation above $1 trillion
Bitcoin's price skyrocketed in recent times and it became the most popular name among investors.2
StablecoinsStablecoins are a kind of cryptocurrency that ties their value to a more stable asset
Unlike Bitcoins that are highly volatile, stablecoins provide you with stability just like its name suggests
However, despite the stability, their prices don't really fluctuate much
This also means that if you are investing in stablecoins, do not expect much in terms of returns.3
EthereumEthereum is the second most popular cryptocurrency after Bitcoin
But something that differentiates it from Bitcoin is the fact that it serves many purposes comparatively
The second most important advantage is that it's more energy efficient.4
RippleRipple focussed solely on financial institutions and made its presence felt in the crypto world
The blockchain for Ripple is unique for its speed and transaction fees
Its network has the ability to get even faster
But, if financial institutions don't welcome blockchain technology, Ripple's valuation could suffer making it least important.As the crypto
market is a recent phenomenon, going by its popularity and awareness quotient, Bitcoin seems to be the safest bet.Why does Bitcoin seem to
be the safest option to invest in?1) Popularity: Bitcoin does have an upper hand compared to other cryptocurrencies if you talk about its
The value of Bitcoin has continued to rise and break records in the crypto world
Now, since the investors are getting used to dealing with Bitcoin, they are more aware of its usage.2) Growth: Currently, the market cap of
Bitcoin is over $821 billion while its price stands at $51,266
Just about five years ago, you could buy a Bitcoin for about $500
But as of September 30, this year, a single Bitcoin's price was over $43,000
That's the growth we are talking about
Bitcoin occupies over 43 percent of the crypto market cap.3) Security: The aspect of safety becomes a priority while someone is planning to
invest in the digital world
Since Bitcoins came into existence, their network has been quite powerful in protecting vital information
Bitcoin prevents hacking since its network is distributed and the nodes are all over the world
It's pointless to hack anyone server because others will pick up the slack.Apart from the set of numerous benefits, Bitcoin does have its
own drawbacks and risks including its high price
Not many people would be able to afford to buy whole Bitcoins
The rapid price fluctuations of Bitcoins may also make you critical about investing in them.The crypto world is only blossoming and it's
challenging to predict anything much about the future now.
