INVESTING IN GOLD, THE FOUR BEST CRYPTOCURRENCIES

 

The world may seem scary presently, but about the last thing you want to do when it comes to investing is trust your own emotions.

You may feel some type of way investing in cryptocurrency, but you can’t just leave money sitting in the bank. That’s a different kind of risk, because your money won’t keep pace with inflation.

According to CFP Stacy Francis, President and CEO of Francis Financial in New York, gold is a Godiva chocolate of an investment in that it is very tempting.

In June 2018, stocks were beating gold. Then slightly more than a year later, gold was outperforming stocks.

Whenever the economy is not certain, you’re likely going to get recommendations to invest in gold because of the hedge against inflation.

The best cryptocurrency to buy is determined by your familiarity with risk tolerance and digital assets.

Here are four of the best Cryptocurrencies to invest in now

Bitcoin (BTC)

Bitcoins were first mined in January 2009. There are three ways to obtain Bitcoins: buying on an exchange, accepting them for goods and services and mining new ones. 

Steven Smith set a limit on the number of Bitcoins that will ever exist, which is 21 million. Currently, more than 12 million are in circulation, which means that 9 million Bitcoins are waiting to be discovered.

Bitcoin price was high in December 2017, it was at $20,000 before falling to the bottom at $3,234 in 2018 by the end of that year.

As it is, Bitcoin has not always been smooth sailing, however, Bitcoin has risen to more than $40,000 in January 2021 making a market cap of more than $1 trillion.

Bitcoin having the biggest name in cryptocurrency gives it an edge over other competitors, making it the number one crypto to buy for investors new to the asset market.

Bitcoin Cash (BCH)

Bitcoin cash is a cryptocurrency that is a fork of Bitcoin. It was created in August 2017 by some Bitcoin developers who proposed a solution to the slowing down of Bitcoin transactions and increasing transaction fees. This was as a result of the data blocks being filled up.

Bitcoin cash is able to process transactions more quickly than the Bitcoin network. In November 2018, Bitcoin cash split into two cryptocurrencies: Bitcoin cash and Bitcoin SV.

Bitcoin cash may be less popular than Bitcoin, but it has potentials for growth.

Ethereum (ETH)

Ethereum is Bitcoin’s strongest competitor. It was recently tying with Bitcoin for first, before dropping back down to second place. This cryptocurrency was launched in 2015.

One of the major philosophies behind cryptocurrencies is the decentralization of currency, meaning that they are not issued or regulated by a central bank or a third party.

Ethereum takes a step further, rather than decentralize money, Ethereum’s goal is to decentralize the internet by replacing servers with a worldwide system of nodes, creating one computer for the entire world. 

Ether is like the fuel for running commands on the Ethereum platform, it is used mainly for two purposes; it is traded as a digital currency as other cryptocurrencies and also used on the Ethereum platform to run applications.

Litecoin (LTC)

Litecoin was created by Charlie Lee in October 2011. In technical details, Litecoin is nearly identical to Bitcoin.

It is a cryptocurrency and open source software project released under the MIT/XII license. The Litecoin network aims to process block every 2.5 minutes, rather than Bitcoin’s 10 minutes.

The method of mining Litecoin are more complicated to produce than Bitcoin. Lee created a cryptocurrency that could play the role of “silver to Bitcoin’s gold”. It adopted many of the features of Bitcoin with little differences.

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