When it comes to investing into a digital currency, what’s the best crypto for beginners?
We’re going to assume that you want to invest in more than just Bitcoin – after all, with more than 2,000 different coins available on the market (and counting), it’s hard to know where to start.
So we’ve done some digging around and put together our top 5 cryptocurrencies for beginners.
These are coins that are:
– Easy to buy and sell. If you don’t know how to buy a cryptocurrency, you’ll end up paying high fees!
– Available on a wide range of exchanges around the world (so no matter where you live, you’ll be able to access them).
– Have low transaction fees so that you can make small purchases without feeling like it costs an arm and a leg.
In addition, these currencies have all demonstrated long-term growth potential. We believe this is important because it indicates that they’re here for the long haul.
1. Bitcoin – The original cryptocurrency that started it all. Bitcoin, technological advances since its creation over 10 years ago is the original cryptocurrency, and it’s still going strong. It’s survived a number of market crashes and regulatory scrutiny, and is still considered one of the most stable cryptocurrencies on the market.
2. Ethereum – A platform for smart contracts and decentralized apps that runs on its own blockchain network, which allows developers to build dApps on top of the platform without having to create their own infrastructure first.
3. Litecoin – A fork of Bitcoin but with faster transaction speeds and lower fees due to its use of Segregated Witness (SegWit) technology which reduces block sizes by removing signature data.
This makes sending Litecoins more efficient than other coins like Bitcoin.
4. Cardano – It’s a smart contract platform that aims to deliver more advanced features than any protocol previously developed. The project is fully open source and driven by academic research. It is also unique in that it uses proof of stake as its consensus model, which means instead of mining rewards for verifying transactions, users earn rewards for staking their coins in a wallet.
5. Bitcoin Cash – A hard fork of Bitcoin that allows for faster transactions at lower costs than Bitcoin. Bitcoin Cash offers more scalability than bitcoin, meaning more people can execute transactions and payments simultaneously.
The main issue with bitcoin is its limited number of transactions per second (tps). The original bitcoin blockchain can process only 7 tps, which is why it takes so long for transactions to be confirmed. Bitcoin Cash can process up to 56 tps—about twice as fast as bitcoin—and at one-tenth the cost of sending a bitcoin transaction.
And the most important thing to remember is this: because cryptocurrencies are so volatile, you should never invest more than you can afford to lose.