Cryptocurrency and profit are two words that usually go hand-in-hand in today’s time. Each day we see this market break new records and set new trends. This eventually snowballs into more and more people investing in this arena leading to more growth. This cyclic process has led to investors reaping benefits like never seen before. People who had invested a good amount of money in cryptos like bitcoin in the early years are known to have enough money now to lead a comfortable life! That is the power of proper investments in the right kind of currencies. In the olden days, the major assets that were used for the purpose of safeguarding and growing money were purchasing land, gold or creating fixed deposit accounts. The times have changed and so have the trends.
If you are looking to invest in some of the most profitable cryptos to grow your money in a safe manner, this could be your guide:
- Bitcoin: One of the most obvious currencies that had to make this list would be bitcoin. It is often known as the leader of the crypto market dominating the arena with the highest market cap since its inception. The overall value of BTC reached its all-time high in the middle of 2021 and then easily surpassed that in November 2021 by touching as high as $60,000. It is known to climb even further this year as more companies are expressing an interest in this crypto. As the acceptance increases, the value increases. This is also catalyzed by the fact that only 21 million bitcoins can exist in the world at any given time.
- Ethereum: The second highest crypto in today’s market would be Ethereum. Even in India, this crypto has gained immense popularity in recent years. The current rate of 1 eth to INR is approximately 2,34,697 rupees which is considered quite high. The demand for this crypto is large as it is not only a cryptocurrency but it is also a network that enables the users to create their own currencies and DeFi applications. This aspect has significantly contributed to making Ethereum a reliable and profitable cryptocurrency to invest in.
- Tether: One of the most appealing characteristics of this coin that results in high volume trading is the fact that it is a stablecoin. This means that this coin trades on a fixed value which makes it a low-risk investment. It is backed by fiat currencies (US dollars or Euro) and hypothetically is said to have a value equal to one of those denominations. The USDT to INR conversion, however, will yield a different value. For all the investors who are wary of the high fluctuations and volatility of the other cryptocurrencies, this would be the way to go.
- Binance Coin: Binance coin has been trading at a stable pace since 2017 when it reached its all-time high. It is one of the largest cryptocurrency exchanges all over the globe which makes it a powerful resource to invest in. The maintenance of a strong blockchain allows more investors and traders to buy more currencies with Binance coin. Any activity on the Binance exchange platform will result in a surge in the price of the coin; and therefore, a good investment option.
- Solana: The market cap of this coin is over $52 billion. It was developed to assist DeFi uses and decentralized apps. The software runs on a unique and exclusive hybrid mechanism that helps in the processing of transactions in a fast, efficient and secure manner. The price of SOL around the time of its launch was about $0.77. However, in Jan 2022. The amount surged to a whopping $171 which is a gain of over 22,000%!
- Ripple: Created by the company Ripple, it has a digital technology that is combined with a payment processing company. XRP is made in a way that it uses its own network to facilitate exchanges of different currency types that include fiat currencies along with the major cryptocurrencies. The USP of Ripple is that it offers smooth and seamless international transactions. These transfers not only occur in a convenient manner, but they also happen fast – within a few seconds. Major businesses and companies that deal in international and cross-border trading are now switching or thinking of switching to Ripple to conduct business.
- Polkadot: The overall market cap of DOT in January 2022 is over a 29billion dollars. Polkadot aims to integrate blockchains used by the different cryptocurrencies by creating a crypto network to connect these various blockchains. This will enable them to work together. This integration will cause some changes in the way cryptocurrencies are managed; however, the huge spur of growth shown by Polkadot shows immense potential. It was essentially created by the Ethereum leaders to make transactions faster. It would also be providing their users with certain benefits such as having a voice in deciding the fees of the network, the upgrades, etc.
Whether you are new or old to the world of cryptocurrencies, these are a few ones that you should be considering investing in. The rates would fluctuate, however, a steady form of investment depending on your schedule and risk factors would lead to great returns overall. Conduct thorough research before investing to mitigate the risks and maximize profits.