Investors are flocking to these three Cryptocurrencies. Here's why you should consider joining the hype train.
One of the best ways to make a fortune without the necessity of coming up with a new business niche or idea is to invest in cryptocurrencies.
After a roller-coaster ride, the crypto market is steaming hot today, and investors are curious to know which are the best cryptocurrencies to buy right now, which are great addition to your investment portfolio.
Hot Growth Cryptocurrencies to Buy Now:
The growing acceptance of cryptocurrency both as an investment opportunity and a secure medium of exchange has made this a popular investment plan. Here are 3 top cryptocurrencies that are best to add to your investment portfolio right now.
Let's explore the reasons why the bull run for these three hot growth cryptos could just be getting started.
1. Bitcoin (BTC)
There is no doubt that the first and world's largest cryptocurrency by market cap is the first in the list of best cryptocurrencies to buy right now. Apart from being the pioneer of cryptocurrencies, Bitcoin's popularity also resonates because of its high liquidity in the short term. Being one of the most highly traded cryptos, Bitcoin shines as a significant option on the investor's radar.
Bitcoin has a circulating supply of 18,730,937 BTC coins and a maximum supply of 21,000,000 BTC coins. It hit an all-time high of $64,863 in May 2021. Bitcoin is indeed a good investment plan for amateurs as well as experts. It has a market cap of more than $655 billion, which is prone to changes with time.
In addition to being a popular medium of exchange worldwide, there are currently almost 500 Bitcoin ATMs available. Today more than 15,100 businesses accept Bitcoin as a payment mode adding to its popularity. Bitcoin has benefited from an array of brand-name business adoptions, and many popular businesses today have invested their hard-earned money in Bitcoin, expecting a good return.
The recent and one of the most beneficial business adoption of Bitcoin is done by Tesla.
Tesla Motors purchased a whole $1.5 billion Bitcoin for its balance sheet with an optimistic growth mindset. Yet another brand is the payment facilitator Mastercard who recently announced their plan to support cryptocurrencies, and Bitcoin will undoubtedly be the number one on their list.
Read More: Bitcoin Price Predictions
2. Ethereum (ETH)
Since 2015, the year Ethereum was introduced in the market, it has seen massive gains and is one of the most popularly discussed cryptocurrency projects. The primary reason for its popularity is its incorporation of smart contracts. By harnessing all the benefits of modern technology, Ethereum has become a top-performing cryptocurrency and an exchange platform over the past few decades.
Ethereum is one of the best cryptocurrencies to buy right now because it is not merely a token of exchange but also an advanced exchange platform. Unlike Bitcoin and several other digital currencies, Ethereum's blockchain technology is designed to approve or even delay transactions on real-world events. To name a few possibilities, the network helps in reshaping supply chains, improving energy-trading platforms, ensuring tax regulation and compliance, etc.
Currently, ETH, the cryptocurrency of the Ethereum network, has a market cap of around $294.8 billion. ETH has a circulating supply of 116,220,081 ETH coins and, without a doubt, has plenty of space for growth. In relation to Bitcoin, apart from gaining popularity from smart contracts, the Ethereum blockchain is designed to host other cryptocurrencies, called 'tokens.' This is possible with its use of ERC-20 compatibility standard.
Ethereum's purported goal is to be a global platform for decentralized applications (dApps). ETH has a faster transaction rate and takes 15 seconds to clear. The momentum of its growth and the increasing enthusiasm behind the Ethereum project makes it a must-consider option to your investment portfolio.
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3. Cardano (ADA)
Cardano, the third-generation blockchain technology, was designed by a group of scientists, mathematicians, and crypto enthusiasts with careful study and research. The major goal behind creating a cryptocurrency that is the blend of technology, science, and philosophy is to solve scalability and security issues.
Cardano is among the best cryptocurrencies to buy right now because it has more potential for growth and returns. This unique product's principal work is based on the Proof-Of-Stake(PoS) algorithm, which makes it a more advanced platform than other cryptocurrencies.
Apart from its Proof-of-Stake mechanism, the Cardano network also incorporates the Ouroboros algorithm. This unique mechanism provides high system security and increases the stability of the network. The major goal behind Cardano is to build a secure future global digital economy on blockchain and smart contracts.
Investors are curious to know more about this innovative cryptocurrency and are willing to invest in it because of its promising nature. With its latest three updates, Cardano is soaring to new heights in the coming future. The popular Goguen update is expected to reach out to a wider audience as it can be used by everyone, including people who have very little understanding of blockchain technology.
Hot Cryptocurrencies: The Bottomline
The crypto market is booming with more and more opportunities today with the advent of technology. Along with that, it is also the most volatile market and needs careful deliberation and contemplation before investing.
If you are planning to invest, then these three are the best cryptocurrencies to buy right now and are worth a shot.
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Virtual currencies are highly volatile. Your capital is at risk.