6 Cryptocurrencies You Should Invest In Now

 There is no doubt that Cryptocurrencies are gaining more attention from all countries. Cryptocurrency have been described as the currency of the future. Consequently many people don't want to be left out of this train. 

Even students are investigating in this digital assets not minding the volatility nature of the currencies. Regardless of the volatility nature of cryptos, studies had shown that any money invested in cryptocurrencies will surely increase by not less than 500% in about 3 years or much less.

Just like every other business, there are bound to be risk. Also stocks in the stock market shows volatility traits. Stock value can go up or down. But over time, investors will surely smile. Cryptocurrency works in similar ways, just that the volatility here is most time very rapid and, it can go either way. But on the long run, cryptocurrency investors will always smile to the bank.

Related Post; How to trade Bitcoin professionally and be making good daily profit.

To this effect, I want to present to you six (6) best Cryptocurrencies you should invest in for better and greater future profits.

Bitcoin

Bitcoin is still the best cryptocurrency out there by value, price and market capitalization. From launch, Bitcoin was value at $0.003. Bitcoin went ahead to jump to as high as $62,000. There are predictions by crypto experts that the price might hit $500,000 before the end of 2025. This is huge.

Bitcoin has continued to dominate the market space and many businesses are already accepting it a medium of payment. Investment in Bitcoin is one of the best good thing you will ever do for yourself.

Ethereum

ETH is the second rank cryto after BTC in market cap and in value. Ethereum came as a result of upgrade on Bitcoin network (fork). And the value has risen to over $4,000 in the recent weeks. 

Many Cryptocurrencies run on Ethereum network. And this has contributed towards the increasing price of ETH. Ethereum has been projected to reach $10,000 before the end of 2022. 

Binance Coin (BNB)

Just as mentioned above, BNB runs on ETH network as an ERC-20 token.  And Binance Coin has risen to the point of running its own node (Binance Smart Chain) and now have many cryptocurrencies running on Binance network as BEP-20 and BEP-721 tokens. 

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These alone has continued to drive the price of Binance Coin. Also Binance had their own exchange platform through which BNB and there cryptos are traded and, BNB is the primary currency for fee payment on the platform. There are over 1.5million users of Binance exchange platform. This contributes to price increase and will see to sustainability of the cryptocurrency.

Dogecoin (Doge)

Doge was created as a meme coin that forked from Bitcoin. In recent times, the price has risen from $0.00002  to over $0.68. Adding over 10,000% profit. 

Doge has produced thousands of millionaires in Dollars. And owning to mass adoption from millions of people all over the world, and celebrities like Elon Musk, Snoop Dog and Mark Cuban, the coin has continued to draw attentions. 

Many people are flooding to buy Doge because of the low price and high positive volatility rate. The volatility nature has made it a perfect market for traders. Experts are currently working on improving Doge network and, it is projected that the price may hit $10 in couple of years to come.

Cardano (ADA)

According to Securities.io, Cardano (ADA) is a third-generation public blockchain and Dapp development platform. The platform earned international media attention as the first blockchain to incorporate a peer-reviewed research strategy into its core principals.  ADA is one of the top cryptocurrencies in the world today and ranked 5th after Doge.

ADA rose from $0.03 to $2.3 in less than 52 weeks. ADA has gain mass adoption and the price has continued to surge. Cardano is academic research base that uses prove of work, this has increased it's adoption; in addition to been listed in many exchange platforms.

Related Post: How to make money trading Bitcoin by yourself on Luno platform in South Africa

Shiba Inu (SHIB)

This is still new and has been Nick named "Dogecoin killer". The frontline promoter of this coin is one of the founder of Ethereum. He recently burned over $6 billion worth of this SHIB in order to create value through scarcity. The value is very low at the moment, about $0.000003, just like Doge when it was launch. 

The low value and the brain behind the cryptocurrency has push people in buying the coin believing that the price with shoot up someday. 

Also, many prominent exchange platforms and wallets have listed SHIB on their platforms. Notable among them are Binance, Crypto.com, Okex, Huobi, Trust wallet, etc. This has in no small way, grown the confidence of investors. A $5 investment in SHIB will give you over 400,000 SHIB and that could worth thousands in the nearest future.

Disclaimer: Invest with caution

How To Invest In Bitcoin

It may seem hard to believe that a digital currency could be worth thousands of dollars or millions of Naira. Hence the reason many people rushing into acquiring and investing in bitcoin. Bitcoin price has increased over 10,000% since the it was invented.


Bitcoin has value in part because it has transaction costs. Bitcoins are also scarce and become more difficult to obtain over time. The rate that bitcoins are produced cuts in half about every four years. This rate is expected to halve again sometime in 2024. The total number of bitcoins in circulation is gradually approaching the limit of 21 million set in 2009 by Bitcoin's creator, Satoshi Nakamoto.
If the demand for bitcoins exceeds the rate at which it can be produced, the price will increase.
All these and more contribute to the increase in bitcoin price.

There are some things that any aspiring Bitcoin investor needs. A digital(Bitcoin) wallet, personal identification documents(for KYC), a secure connection to the Internet, a method of payment, and an account at a cryptocurrency exchange platform are the usual requirements. Valid methods of payment using this path include bank accounts, debit cards, and credit cards as it's obtainable on Luno


It is also possible to get bitcoin at specialized ATMs and via P2P exchanges. There are additional details on buying bitcoin that we will not cover here.


Getting Started

Get Bitcoin Wallet: The first thing that you'll need to get started is a wallet to store bitcoin. There are many wallet platforms you can chose from.


When choosing a wallet, there are things to consider. The include security of the wallet, the KYC requirements, the ease of trading on the platform, the interface of the platform and the prevailing exchange rate.
In Nigeria, South Africa, Zambia, 
 we recommend Luno Wallet. Otherwise, Coinbase or Blockchain wallets are good. Luno makes it easier for you to buy directly from your bank/debit card.



Deposit money on your wallet: Luno is one of the most popular platforms and has a straightforward process. Some of the mentioned websites below will follow this same process.

With Luno, you open a Luno account and link your bank account or credit card. Then transfer funds from your bank account to purchase BTC using your debit or credit card.

The mechanics of purchasing BTC involve entering a Naira (or Zar) amount or a BTC amount. The website will then convert the other currency. Where exactly does the BTC you’ve purchased go? After all, you haven’t invested it yet. Your BTC sits in what’s called a digital (BTC) wallet. Most all exchanges have their own wallet that you use to contain your BTC.



There are some exchange platforms that doesn't allow money deposit. In case that the exchange doesn’t allow purchasing BTC by transferring funds or using a credit card, you can deposit BTC from another exchange. Example on Paxful, Blockchain, etc.


This is done by getting your wallet address from the target exchange. Then enter it on the source exchange along with the amount of BTC to transfer to the new exchange.
The transaction takes a few minutes for the exchanged BTC to appear in the target wallet.



Investing

First and foremost, it is worthy to not that bitcoin can has been on the increase over the years. One of the simplest way of investing in bitcoin is purchasing bitcoin and leaving the bitcoin in your wallet for couple of years. From 2018 till date, bitcoin price has increased by over 100%.
The only disadvantage here is, the price of bitcoin can also decrease within the period.

Some bitcoin investment platforms are listed below:


Luno
Luno platform is the most popular in Nigeria and South Africa for bitcoin Trading. You can deposit directly from your bank and withdraw back into your bank. The platform has easy and simple interface.


You can trade on luno and be making good daily profit as long as you can read the trading charts and know the right time to buy and sell.

Click here to learn how to trade on luno and be making good daily profit 



eToro
eToro has been around for a while in the UK and throughout Europe, but they are now allowing traders from other countries. They offer a huge variety of digital assets to buy and sell on their platform, and even better, they have a practice trading account so you can give it a try before you actually use real funds.



Conclusion

Open a wallet account at a platform that allows crypto investments
Deposit funds from your bank into the wallet (exchange) account.
Buy a bitcoin using deposited funds (cash balance).
Later sell the bitcoin for a gain. Funds are returned to your cash balance.

Long-term Versus Short-term Investing: The Best Option

Long-term investments are assets that a company or individual intends to hold for more than a year. While a short-term investments are assets that a company or individual intends to hold for a year or less.

The long-term investment account differs largely from the short-term investment account in that short-term investments will most likely be sold, whereas the long-term investments will not be sold for years and, in some cases, may never be sold.

There is a significant difference between long-term and short-term investing. A lot of people, particularly millennials, don’t invest in stocks because they are afraid of losing money in the short term. If one is investing for the long term, then there is very little risk in legacy markets.
Stocks can go down, but over any 10 year period in history they are always up at least 7% per year when the gains and losses are averaged out. With a longer term horizon, stocks have literally never been a bad investment. 

So how does one actively invest in markets and maximize their potential earnings?

COMPOUNDING!

As Albert Einstein once said: 

“Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn't pays it.”

The world’s most famous scientist issued this comment about compound interest and time has shown that Einstein was correct.


As defined by Investopedia, “Compounding is the process in which an asset's earnings, from either capital gains or interest, are reinvested to generate additional earnings over time. This growth, calculated using exponential functions, occurs because the investment will generate earnings from both its initial principal and the accumulated earnings from preceding periods. Compounding, therefore, differs from linear growth, where only the principal earns interest each period.” 

As mentioned earlier, compounding one’s gains is the key to accumulating wealth, period.

There are three key rules to maximize the advantages of compounding: 

— Reinvest dividends or interest into the asset. 

— Add more to the investment whenever possible.

— Invest over a long period, the younger one starts, the more powerful compounding will be. 

Compounding cryptocurrency investments is far more challenging than in legacy markets.

Join our cryptocurrency (Bitcoin trading) investment section and learn how to generate daily profit. Click here to read details

When you are young you can invest in almost any asset as younger investors should keep the long time-horizon in mind. Following these strategies is the surest way to leave you sitting financially pretty and you’ll have a nice stack when you need your money the most!