Cryptocurrency coins or tokens fall into two major categories: Utility Tokens and Securities Tokens. All crypto assets have their unique features, and they represent a value of some sort. These assets either work as investments or as currency you can use to buy products or services. Invest in the best cryptocurrency assets for the best returns.
Bitcoin (BTC)
Of course, no list of crypto assets would be complete without mentioning the most popular of them all. Bitcoin is the godfather of cryptos and was the first decentralised digital currency ever to be created.
Cryptocurrencies are incredibly volatile (daily swings of 10-20% not uncommon.) As these investments are yet to become common, they are considered high-risk investments and can be subject to high levels of volatility.
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Ethereum (ETH)
Ethereum quickly rose to fame for its ability to allow ‘smart contracts’ – agreements governed by computer code rather than human intervention.
The more users or adopters that a cryptocurrency has, the greater is its chances of success. Coins with smaller user bases are often less stable and lack community support for development purposes etc.
Similarly, the more people use cryptocurrencies, the higher are their values, especially with limited coins/tokens. However, big companies have rejected cryptos, leading to decreased usage and lower prices.
Dash (DASH)
Originally called Darkcoin, Dash is a cryptocurrency that aims to be as private and secure as possible. It is a cryptocurrency that focuses on providing a private, secure, and fast transaction alternative to its users.
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Dash has a decentralized governance system where master nodes run the blockchain. The block size limit of DASH is 2MB compared to bitcoin’s 1MB block size limit.
Litecoin (LTC)
Litecoin was created by ex-Google employee Charlie Lee in 2011 as an alternative to Bitcoin.
A coin could be listed on a new exchange and see its value shoot up in no time. However, it could also be rejected by significant exchanges and sink without trace.
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As always with cryptocurrency, past performance is not indicative of future results!
Ripple (XRP)
Ripple’s primary aim is to replace current payment systems and facilitate quick money transfers between banks. Although this may not sound too exciting, it could save billions on fees and translate into substantial cost savings for banks and their customers.
Not all cryptocurrency projects are expected to succeed or turn a profit for investors. So, purchase cryptocurrencies if you feel confident enough in your ability to judge whether their project has long-term potential.
Some factors might affect the value of specific cryptocurrencies but aren’t limited to exchange listing and rejection factors and public perception. The public’s view can affect their price, either positively or negatively.
For example, the publicity surrounding market bubbles (such as the recent ‘crypto bubble,’ which saw the prices surge massively before coming back down to earth) can increase interest in specific coins, pushing their value up.
Final Thoughts
Unlike money, cryptocurrencies have no physical form and reside only in digital storage spaces known as wallets. Cryptocurrencies can be bought on exchanges using money from your bank account/card/cash, stored locally on your computer via a wallet app.
Read More: How To Start Investing In Cryptocurrencies