Top 5 cryptocurrencies for investment

Cryptocurrency investment is the investment of money into cryptocurrencies using digital or fiat forms of currency. These currencies use cryptography to secure transactions and control the creation of new units. The concept was first brought to widespread attention in 2009 when Bitcoin, which now dominates more than half of the global cryptocurrency market cap, was introduced to the world.

Presently, there are more than 70 million crypto wallet users that have invested in cryptocurrency up till March 2021. There would be millions of people who have either lost or gain millions as per their investment methodology. What I have learnt in a continuous study of crypto market is that you can gain millions by just holding a good coin or selling a bad coin timely.

Crypto market is highly volatile and there are many coins that could not rise after fluctuation this year. In depth study of cryptocurrencies shows that the dip is imminent and can occur any time but here i am presenting five crypto currencies that have arisen with more force after every dip, even breaking the previous all time high records.

Bitcoin (BTC):

Bitcoin is the most powerful and widely used cryptocurrency having market cap of $ 1,146,097,436,497 on 17 October,2021. It has a price of US $ 61,016.90. All cryptocurrencies are largely dependent on Bitcoin as fluctuation in whole crypto market varies with the fluctuation in Bitcoin. Bitcoin has seen a dramatic fall in December when it falls from $64,865 to $24,000. This was a major dip for Bitcoin and it arises to $40000 in the same month. Bitcoin is trustworthy as it is leading cryptocurrency and it arise more strongly after every dip. Presently it is way back to its previous all time high $64,000 and it is expected to cross $70,000 before start of year 2022.

Ethereum:

Ethereum is the first programmable blockchain platform that has decentralized apps that has a function to provide financial services without any interference from third party like banks. These decentralized applications are also used to control frauds. they provide free access to all users from different countries. It is launched in 2014 and has a market cap of $447,553,119,573 having price of $3,793.7 on 17th October, 2021. Like bitcoin, Ethereum also arise after every dip and enjoys the trust of investors.

Binance Coin (BNB):

Binance coin was launched initially a utility cryptocurrency that was operatedd on the Ethereum blockchain. It has the market cap of $78,015,095,973 with a price of $462.52 as of 17 October, 2021.Initially it was used on Binance for trade only but now it is widely used for payment processing and trading. It has shown a record gain of around 400,000 percent as its value in 2017 was just $0.1.

Cardano (ADA)

Cardano was launched by Charles Hoskinson. It has been launched by engineers and cryptography experts by extensive experiments on block chain technology and peer reviewed research. After a lot of research and experiments, it stands tall against other cryptocurrencies. It is way a head from Ethereum in terms of its decentralized financial model. Cardano has the best financial operating system as it has the fourth largest market cap of $70,790,351,165 with a price of $2.14 as of 17 October,2021.

Bitcoin Cash (BCH)

Bitcoin cash is the most successful and earliest hard forks of Bitcoin. BCH has decentralized nature in the world of digital currencies. Hard forks are formed when there are argument between miners and developers. Original chain of crypto currency splits in to new chain, beginning its life as a new variant of previous chain. BCH has also maintained its credibility after every fall. It has a market value of $11,488,238,156 with a price of $608.85 as of 17 October 2021.

Closing thoughts:

There are hundreds of competitors to these currencies but they are still the most dominant cryptocurrencies, worthy enough to invest. These currencies have the market cap of around $1.5 trillion. Investment after in depth study of the market in these currencies is worthy enough to bring healthy profit.