You’re ready to invest in cryptocurrencies. Perhaps you saw their meteoric rise at the start of the year, and you want to buy in while it’s still cheap.
Or perhaps you’ve been following the crypto news for a while, and you understand how the market works. Either way, you need to know what are the best coins to invest in.
Below, we’re going to list out some of the most popular types of crypto on the market today. Keep reading to learn more!
Bitcoin
Bitcoin is the original crypto, and it is also the most popular. Bitcoin is a decentralized digital currency powered by blockchain technology that can be transferred from one user to another using digital wallets.
Bitcoin was the first cryptocurrency to implement the proof-of-work concept, which requires users to solve complex equations in order to receive rewards. It is popular because it offers secure transactions, eliminating third-party influences and the need for trust.
It is a fast, secure, and cost-effective way to make payments. For Canadian investors looking to invest in popular cryptocurrencies, it is available to buy on various exchanges using Canadian dollars or BTC CAD.
Ethereum
One of the most popular types of crypto is Ethereum Smart Contract Tokens. Ethereum Smart Contract Tokens are usually Utility Tokens, and their main value is derived from the technology they are built on.
These tokens can be used to represent a variety of digital assets and services, and they are the backbone of the ever-growing decentralized world.
These are also important means of raising funds for new projects, and they are used for both traditional and digital forms of peer-to-peer payments. They provide a secure, transparent, and cost-effective way to create, transact and securely store digital assets.
Ripple
Ripple is a digital asset designed for global financial settlements and features faster, cheaper, and more efficient transactions. Unlike other coins, Ripple does not rely on a decentralized system but instead operates on a distributed ledger technology (DLT).
As Ripple is based on DLT, it is more efficient than other coins and provides a more secure, reliable, and faster platform than other digital coins. Additionally, Ripple is an ideal option for global transactions, such as:
- cross-border payments
- remittance services
- trading
Ripple offers a wide variety of features and services, such as:
- xRapid
- xCurrent
- xVia
All these features provide users with greater control over the transactions they make and provide the users with the best possible experience.
Litecoin
Litecoin has emerged as a popular alternative to Bitcoin due to its lower cost and faster transaction times. While it has only been around a short time, Litecoin is one of the longest-running digital currencies in existence and can be used to buy goods and services online, just like Bitcoin.
Additionally, Litecoin transactions take an average of around 2.5 minutes to be confirmed versus 10 minutes for Bitcoin, making it more appealing to users looking for speed.
Litecoin also uses a different mining algorithm than Bitcoin, which reduces the number of total coins in circulation, making it more volatile and harder to obtain.
Learn Different Types of Crypto
Cryptocurrencies like Bitcoin, Ethereum, Ripple, and Litecoin continue to be the most popular types of crypto for investments and purchases.
With advances in technology and widespread acceptance around the world, crypto is continuing to gain popularity and acceptance. Explore these and other options today to find out which fits best with your financial goals and objectives.
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