7 Cryptocurrencies To Buy Now With £5000
We have been looking at the crypto market lately for pockets of value. With a spare of £5,000, this would be the list of 5 Cryptocurrencies to buy now in the UK.
The advancement of blockchain technology has brought several new and exciting cryptocurrencies to the market. Initiated by a single cryptocurrency called Bitcoin, the crypto market is now worth almost a trillion pounds, opening up endless opportunities for investors worldwide.
With the volatility of cryptocurrencies and the endless pool of options available, investors are puzzled about which token to buy now. We have done the heavy lifting, and here are 7 top cryptocurrencies you can buy with £5000.
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7 Cryptocurrencies To Buy Now With £5000
Top Cryptocurrencies to buy now in the UK:
1. Ethereum (ETH)
Ethereum, the autonomous, decentralized platform, is home to several DeFi tokens and is run by thousands of volunteers worldwide. It has gained much traction because of its advanced technology. Thanks to its popularity in the fast-growing DeFi space, ETH has successfully cemented its position as the second largest cryptocurrency after Bitcoin.
It allows developers to create their cryptocurrency by deploying the Ethereum network. 2021 has been a bullish year for Ethereum so far as it has been climbing steadily to hit an all-time high of £3,101.89 on May 12, 2021. Trading at £2,746.99, Ethereum is one of the top 7 cryptocurrencies for a £5000 investment..
The cryptocurrency is expected to see a high surge in its value in the years to come, with more DeFi projects choosing Ethereum as their platform of choice. Additionally, the release of Ethereum 2.0, its latest update, will address scalability issues and further boost its transaction speed.
Further, Ethereum is going to place itself as the King of DeFi, once it switches its Proof-of-Work consensus mechanism to a Proof-of-Stake consensus mechanism. Addressing multiple issues like transaction speed will drive ETH’s value to explode by the end of this year.
Read Also: Will Ethereum Reach $10,000?
2. Dogecoin (DOGE)
This meme coin was designed as a joke to spread awareness about blockchain technology and cryptocurrencies. But over the years, Dogecoin has gained tremendous traction, especially from celebrities.
Though a simple cryptocurrency, DOGE has multiple use cases. It is an incentive token used to tip content creators on social media platforms based on their content on different subjects. It has successfully placed itself as the 4th largest crypto token in the CoinMarketCap ranking with a market cap of £48,936,898,716 as of writing.
DOGE has enormous community support compared to other cryptocurrencies, making it the best coin for a £5000 investment. Thanks to Elon Musk and his tweet calling himself the ‘Dogefather,’ the value of DOGE hit a record high. Additionally, famous rapper Snoop Dogg, rock star Gene Simmons, several other celebrities voiced support for this cryptocurrency.
Further, Dogecoin has also been added to several listings. Multi-asset brokerage eToro and Crypto exchange Gemini have shown support for this cryptocurrency, widening its market for more investors.
Check Out: Will Dogecoin Make Me Rich?
3. Ripple (XRP)
Ripple is a leading altcoin that has positioned itself for potentially significant gains after a considerable slowdown in the past few years. Ripple aims to make cross-border payments easier and cheaper by using XRP for banks, payment providers, digital asset exchanges, and corporations by leveraging blockchain technology.
Transactions in Ripple happen in just 5 seconds using XRP, whereas Bitcoin takes around 10-minute to confirm the same transaction. Further, it is expanding its network by adding more and more banks and various established institutions.
Ripple’s favorable win over the SEC lawsuit is yet another reason for the surge in its value in 2021. With another telephonic conference between Ripple and the SEC set for May 21, investors have high hope in this token. With tremendous support, they seem to be confident that XRP is going to beat the SEC in this lawsuit soon. The outstanding investor support is indicative of a favorable outcome for XRP in the case.
In the meantime, thanks to a dedicated development team, Ripple has more plans in the pipeline for the coming years. With a value of £0.988045 as of writing, XRP is one of the top cryptocurrencies to buy now with £5000.
4. Tron (TRX)
Tron is a blockchain platform that aims to transform the entertainment and media sector, making it more accessible by removing the middlemen between content makers and consumers. So by deploying TRX, you can watch a movie by directly paying the production company instead of paying a streaming service.
One significant reason for its increasing price surge is its plans to release NFTs (Non-Fungible Token) on the network. With the NFTs taking the world by storm and support from celebrity cosigns, including Lindsay Lohan (tweet), TRX is creating a massive wave of interest in the market.
The platform also offers content creators a way to connect with their audiences directly. Also, eliminating the middleman helps the consumers have easier access to the content at a lower cost.
Adding to its popularity, Tron also functions as a development platform that dabbles in smart contracts, DeFi, and other popular trends. With its plans to establish its latest project, TRON ARCADE, and reduced supply, there is no reason for TRX’s price not to rise, making it the best cryptocurrency to buy with £5000.
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5. Cardano (ADA)
Cardano is a proof-of-stake blockchain network that has recently grown in popularity and is becoming one of the biggest competitors of Ethereum right now. According to CoinMarketCap ranking, ADA is the 5th largest cryptocurrency with a market cap of £43,833,449,900 as of writing.
There are several reasons why Cardano is one of the top cryptocurrencies to buy right now with £5000. The recent reveal that it supports non-fungible tokens (NFT) on its platform is boosting ADA’s popularity.
Following this, there was a recent announcement from Cardano’s parent company Input Output that it has successfully partnered with World Mobile Group. This partnership will further expand Cardano’s use cases within African countries like Tanzania and Ethiopia, contributing to the worldwide adoption of cryptocurrencies as a whole.
Also, crypto traders and analysts have recently plowed into the ADA token after billionaire Elon Musk’s announcement that Tesla would no longer accept Bitcoin due to its hefty environmental cost. Thanks to Cardano’s technology, it has a lower carbon footprint, which leads investors to see ADA as a promising token for investments.
Check Out: Is Cardano a Good Investment?
6. Litecoin (LTC)
A faster and cheaper alternative to Bitcoin, Litecoin has seen significant growth in its price and interest over the past few months. LTC is the best option for making payments, especially microtransactions, as it is cheaper and safer than other cryptocurrencies.
Litecoin is a highly appealing coin for investors as it has four times higher supply and four times faster processing time than Bitcoin. With increased interest from investors and institutions, Litecoin prices have climbed to an all-time-high of £292.89 on May 10, 2021.
With its worldwide adoption as a convenient mode of payment and a dedicated development team, LTC has successfully positioned itself as one of the top 7 cryptocurrencies to buy right now with £5000. Moreover, it’s an open-source network with a protocol that is flexible for any latest changes.
With the tech advancements like SegWit and Lightning Network Protocol, Litecoin has made transactions faster and more convenient for traders. It has several developments in the pipeline, further making the Litecoin network more advanced, boosting its adoption.
Read More: Could Litecoin Be A Millionaire-Maker Coin?
7. EOSIO (EOS)
EOS is a platform designed for developing decentralized apps. The cryptocurrency EOS runs on EOSIO protocol that has the security of Bitcoin, user-friendly programming of Ethereum, and scalability that exceeds Ripple. It makes EOS one of the impressive third-generation cryptocurrencies in the market to buy now.
The EOS blockchain processes millions of transactions, making it the fastest blockchain technology. It is also highly scalable and provides a straightforward interface for users to develop dApps. As of writing, the cryptocurrency EOS trades at £8.09, with a market cap of £7,716,327,796, and is the best cryptocurrency to buy right now with just £5000.
EOS is attracting more investors with the latest press release from its developers Block.one. It recently announced the launch of a new venture, The Bullish Global, which will work as an independent subsidiary under Block.one.
They revealed that the project had received funding of over $10 million, in the form of cash, EOS tokens, and 164,000 Bitcoin, from prominent investors.
The news says that the parent exchange will have huge investors like Thiel, Richard Li, Christian Angermayer, and Alan Howard as its new advisors. The announcement of the Bullish Global exchange will eventually boost EOS price in the market, making it a viable investment opportunity.
Read Also: Could EOS Be A Millionaire-Maker Coin?
7 Cryptocurrencies To Buy Now With £5000: The Bottomline
The field of cryptocurrencies has expanded dramatically over the years, with the addition of new and exciting crypto tokens. It has also become a valuable investment asset for investors and institutions alike.
If you are looking for cryptos that show promise where you can put in a sum of £5000 as a long-term investment, these top 7 cryptocurrencies are your best bet to secure a wealthy future.
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Virtual currencies are highly volatile. Your capital is at risk.