When it comes to deciding which cryptocurrencies to invest in, the choice of over 4500 different coins can make the initial plunge seem a little overwhelming. It can be a difficult and time-consuming job sorting the good from the bad, and even then this kind of information is subject to opinion and often bias.
There is no single cryptocurrency that trumps them all, as they all have their moments. But if you’re looking for the best cryptocurrencies to invest in right now then you’ve come to the right place.
Let’s take a closer look at the 6 best cryptocurrencies to invest in right now, according to financial experts.
Bitcoin – BTC
It is a statutory necessity to start any list of the best cryptocurrencies to invest in with Bitcoin. There’s a reason why it’s often referred to as “the kind of cryptocurrencies.”
Bitcoin was created to become a universal, peer-to-peer, digital currency. It is completely removed from any form of regulation-making it completely decentralized.
Of all the crypto coins, Bitcoin has the highest liquidity making it a great choice for a first-time investment. You’ll always be able to buy it and you’ll always be able to sell it.
While Bitcoin can be volatile at times it’s also fairly stable in comparison to a lot of the other coins. At the beginning of 2020, a single Bitcoin was worth around $7,000. Eleven months later the coin is now worth a staggering $18,500. That’s more than a 150% price increase!
As the influence, mass adoption, and demand for Bitcoin increases over the years so will the price. Some financial experts have estimated that the coin will be worth $100,000 by 2025. With some analysts being confident that the coin will eventually reach one million dollars!
Check out this Bitcoin for dummies guide for more information and advice.
Litecoin – LTC
When you’re looking to invest in a cryptocurrency you want to look for high liquidity and a large market cap. This means that the coin has more chance of going up in value and less chance of any disastrous plunges. Litecoin fits this description perfectly.
Litecoin has been in the top 10 cryptocurrencies for the duration of the year. Paypal and several banks have taken on Litecoin as well as a handful of other cryptocurrencies. This means that it is likely to become more popular over the next year or so.
Litecoin has seen several competitors this year, but it has held its own against them all. Litecoin started off life at around 3 dollars a coin. It reached heights of almost $250 back in January 2018. It’s currently at around $90, which means there’s still plenty of room for it to climb.
Ethereum – ETH
Ethereum is another coin that has been adopted by several banks and PayPal. While Bitcoin might be known as the king of the cryptocurrencies, Ethereum is it’s close second when it comes to liquidity.
Ethereum is the fuel behind the decentralized application (dApp) ecosystem. This means that millions of companies and developers will need it to underpin their launch applications and smart contracts.
Due to this, many more Ethereum coins can exist than coins such as Bitcoin and Litecoin. Partner this with its loyal community and you have a good chance of a coin that will remain stable and increase in value over time.
Ethereum has seen lows of around $100 this year, but it’s currently trading at $615 at the time of writing this!
Ripple – XRP
If there is one coin to watch out for it’s Ripple’s XRP. This is a very exciting coin to watch right now. XRP takes third place in market capitalization after Bitcoin and Ethereum.
Ripple is a little different from the other cryptocurrencies listed here. Ripple is designed to offer financial settlement services to banks. This allows them to make financial transactions across national borders instantly.
This makes Ripple ideal for large institutions. It is already partnered with several large banks across the globe and Paypal. If large institutions are taking up a coin then it can only mean one thing and that’s up!
In November 2020 XRP managed to blow the minds of many with a staggering 91% price increase in just one month. More and more active addresses dealing with XRP are appearing. If you’re looking to invest in Ripple, then now is the time.
Basic Attention Token – BAT
Basic Attention Token (BAT) is a great choice when looking for the best cryptocurrency to invest in the long term. It had a great three-year run. The BAT token is means of tipping content creators and anyone that you might find helpful on the Internet.
Users who watch online advertisements on the Brave Browser can also be rewarded BAT tokens. This is something that is yet to be fully explored, but it should offer exciting news for BAT token holders over the next few years.
So many coins have collapsed since their startup, but BAT has stayed consistent throughout. This is what you’re looking for if you’re looking for a long term investment.
Cardano – ADA
ADA was launched back in 2017. It also frequently appears in the top 10 of market capitalization. Cardano is known as a third-generation blockchain and is the first-ever global blockchain project developed based on scientific philosophy.
In the first three months following its launch, the value of Cardano went up a staggering 6000%. Sadly this was followed by a crash in 2018, but that same crash hit all the cryptocurrencies.
It has been up and down for Cardano, but the long-term price prediction sees it hitting $10 a coin over the next five years. There is a strong team working behind it, making it a great long-term investment.
The Best Cryptocurrencies to Invest in for You
Investing in cryptocurrency can be daunting at first, and nerve-racking no matter how experienced you are. As much as these coins can climb rapidly, they can also drop in price. As with any investing, your capital is always at risk so never invest what you can’t afford to lose.
This list of the 6 best cryptocurrencies to invest in right now should help to narrow down your choices. All that’s left to do is invest and enjoy the ride.
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