Best Crypto Currency to Invest for Higher Profit Yield

There are many different cryptocurrencies in the market but the most famous one is Bitcoin.

The list of different cryptocurrencies is as under

  • Bitcoin: It is the cryptocurrency that was initially launched and is still the most powerful cryptocurrency in the whole world. Today the bitcoin price against USD is 47,395.40USD(the price fluctuates on daily basis depending upon the demand and supply conditions of the market. hence check the latest price)
  • Ethereum: It is the 2nd most powerful cryptocurrency in the world. the price of one Etherium is equal to $4000 USD which is much below the of Bitcoin but its market capitalization is half of the Bitcoin.
  • Lincoln(LTC)

The first cryptocurrency to go after Bitcoin and introduced in 2011  by Charlee Lee an MIT Graduate and former Google Engineer and it is also referred as “Silver to Bitcoin Gold”.

  • Cardano
  • Polkadot
  • Bitcoin Cash
  • Stellar(XLM)
  • Dogecoin(dodge)
  • Binance coin
  • Tether
  • Monero

The above-given crypto Currencies are the most powerful and are very famous but there are many others as well.

Crypto Currencies are decentralized ledgers used as digital currency and have no physical form. They are just like currency notes but are not printed by any Govt of any country rather they are used digitally to purchase things online where it is accepted.

The idea of cryptocurrency arose in 2008 when the world faced a huge economic recession. During that time it was felt to use a digital currency without any institution in the middle as a security or a guarantee.

Take an example of a central bank of any country which prints the currency notes and provides a guarantee to repay any time but in the case of cryptocurrency, there is no such guarantee.

Cryptocurrency is used as a peer-to-peer transaction without any involvement of a middle party hence the gain of this transaction is also divided among these two parties.

In the case of banks in any country which use the depositor’s money and earn profit against such amount but in the case of crypto currency no bank or Govt is involved and no such security is provided.

Hence when a transaction through crypto currency gives benefits to the users at the same time it is riskier than the conventional transactions where there is a bank or a Govt to back the financial transactions.

But historically cryptocurrency has gained more power as compared to the conventional currency. Now the cryptocurrency market is almost of $900 Billion which is growing day by day.

Although only one country is the whole world has adopted cryptocurrency as a legal tender that is El Salvador but we see that more and more people are relying on this currency and its volume is increasing day by day.

The investment in cryptocurrency is very risky and one must consult a financial expert before investing in this currency.

Binance is a very popular website where on e can buy cryptocurrency on this link

 

 

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