The Cryptocurrency market is gaining extra traction owing to mainstream media attention and Government scrutiny. The huge number of Cryptocurrencies in the market also makes deciding which Cryptocurrency to invest in hard. So, here are a few Cryptocurrencies to invest in that promise high returns.
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The first and most obvious choice is Bitcoin. It is the original Cryptocurrency, and its market cap is the highest. The limited availability of Bitcoin makes it an asset of high value. Despite the volatility in Bitcoin’s prices, investing in it is sure to earn you a high return. Beng is the first successful Blockchain-based Cryptocurrency. Also, the dominance of BTC is constant.
Ethereum is the Altcoin that has the second-largest market cap after Bitcoin. It introduced smart contracts to the world, and they are the basis for Decentralized Finance and Non-Fungible Tokens. These are reasons why Ethereum is also a top choice for investing in Cryptocurrencies. Even though Ethereum has a comparatively higher transaction fee, referred to as gas fee, the Crypto developers are consistently working to solve this problem along with the energy used in mining Ethereum. All of these are reasons why you should consider investing in Ethereum.
Another Cryptocurrency that is among the top choices to buy right now is Polygon. This Cryptocurrency is the first one that builds and connects blockchain networks compatible with Ethereum. This Cryptocurrency provides scalable solutions on Ethereum and therefore supports a multi-chain Ethereum ecosystem. Even though Polygon has not grown as big as the other top Cryptocurrencies like Ethereum and Bitcoin, investors believe that it is a Cryptocurrency with great potential to give high returns in the future.
Stellar is another innovative Cryptocurrency in the market right now that can grow into one with a lot of potentials. The native Cryptocurrency of Stellar is called Lumen (XLM). This Cryptocurrency is designed as an open network that allows one to store and move money. It lets people create, send, and digital trade money, all on one platform.
The best part about the network is that it is designed to allow its users to sell and trade all digital currencies and not just the ones associated with Stellar itself. However, you do need to own some Lumen to make transactions in other Cryptocurrencies on the network. All of this makes this Cryptocurrency one of the most promising Cryptocurrencies to invest in.
The last tip in this list of promising Cryptocurrencies is Terra. This network can communicate with several other blockchain networks. It is one very innovative Cryptocurrency that shows exceptional growth potential and can be invested in. It is one of those Cryptocurrencies that can be invested in if you are willing to separate from the hype and consider the innovation behind your investment. Like any other, Cryptocurrency, Terra has its risk factors, but all of it combined still make it one of the best new Cryptocurrencies that can be invested in.
These were some of the most innovative and promising Cryptocurrencies that can be invested in right now based on the market.