After seeing the boom in the cryptocurrency like Bitcoin, everyone has been flattered and want to invest money into cryptocurrency and get the same type of return on Investment. Here we have the list of the cryptocurrencies that one can consider to get the great return on investment. But first have a look on what is Cryptocurrency and what is a Bitcoin,
There are a hell lot of types of cryptocurrencies in the market today where you can invest your money. Investing your money doesn’t mean you should sell all your property and put all your savings into the crypto. Cryptocurrencies are made for the people who want to invest some amount of money which is a part of their income and for the people who can bear the loss of money.
The cryptocurrencies are meant to invest money that much a person can bear to lose. This is the mistake that most of the people do while investing their money in cryptocurrency. In hope of getting more money, they invest all their money in cryptocurrency and tend to lose half of their money.
What is cryptocurrency?
Cryptocurrency is a type of digital currency that people buy with the real money they have using the online applications that act as a broker between the two. The online applications take their charge when you perform any buy or sell transaction. You can buy cryptocurrency sitting anywhere in the world as it is digital currency. There are more than a hundred types of cryptocurrency available on the internet that you can buy and invest into.
How much risky are Cryptocurrencies?
If you are a risk taker and love to take risks, then cryptocurrency is made for you. The prices of the cryptocurrencies fluctuate a lot. The markets are open 24 X 7 , so you can have to check the prices every moment. The prices of cryptocurrencies can go upto moon and vice versa i.e come from moon to the ground in a single day.
You can make indefinite profit and your all money can be gone, there is as such no limits on the downfall and the upwards directions of the price. The most expensive cryptocurrency we have is Bitcoin which rose from around 45 INR upto 44 Lakhs INR in the time period of 8 years.
The current price of a Bitcoin is around 25 Lakhs INR. There is no compulsion that you have to buy at least one coin to start investing. You can start investment from 100 INR and upto the amount that you want to invest. The coin will be then bought in the parts. For example 1/100th part of 1 Bitcoin can be bought in 25 Thousand INR.
Cryptocurrencies other than Bitcoin:-
The first on the list is Etherium.. It is actually a decentralized , open source block chain proposed in 2013. by programmer Vitalik Buterin. Etherium has launched its web applications and also the programming language with its name.
The current price of Etherium is 1,44,304 INR . The price changes every second, so the current price can vary compared to the listed price above as the crypto markets are open 24 X 7. The price can change upto any percentage in an hour or so. There is no restriction on the price change.
In April 2021, the market cap of Etherium reached new heights and grew to over 250 billion USD. This is the first time the currency have reached to these heights. The market cap was half of the current value in July 2020.
Litecoin was launched in 2011 and it was among of the firstly launched cryptocurrencies in the crypto markets. The current price of Litecoin as in July 2021 is 9,726 INR. This is actually a peer to peer cryptocurrency and open- source software project.
The market cap as of July 2021 for Litecoin is 8.77 Billion USD.
Dogecoin was recently in a lot of talks and tweets. The price of the dogecoin changed from 3 INR upto 60 INR in 4 months after the tweets from the well known billionaire Elon Musk. The tweets from Elon Musk drastically had the impact on the price of Dogecoin. The current price of Dogecoin is around 15 INR as of July 2021.
The price was getting affected by the tweets of Elon musk very quickly. There was a lot of price change in a period of one or two days after a tweet. Dogecoin has become the most popular coin after Bitcoin as being in the news and talks of the people due to its drastic changes in the price.
The other cryptos that you can try investing is:-
- Bitcoin Cash
- Binance Link
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