Investors are getting rich quickly in the cryptocurrency market. In fact, there are more than 100,000 bitcoin millionaires. These are investors that are holding more than $1 million in their bitcoin wallet.
There are many other cryptocurrencies that are killing it. It is not uncommon to see a crypto increase by many multiples in just a matter of days.
People are getting tired of traditional stocks with lackluster results. Instead, they are riding the crypto wave to prosperity.
Read on for the ultimate list of crypto currencies. Explore topics like what are crypto currencies and which ones are the most popular.
What Are Crypto Currencies?
Before diving into the best crypto currencies, it is important to define the term. In its simplest form, it is a digital or virtual form of currency.
It is considered decentralized, meaning that there is no government or major corporation backing it. This is an important concept, as it limits manipulation or political interference.
Crypto currency transactions are recorded on an encrypted ledger supported by blockchain technology. The goal here is to make transactions anonymous and as secure as possible. It is nearly impossible to hack into the blockchain ledger.
What Are the Best Crypto Currencies to Invest In?
Now that you know what crypto is, it is time to invest. Continue reading for a breakdown of the best crypto currencies.
You cannot have a list of crypto currencies without bitcoin on it. It is the original crypto and has the highest market capitalization.
A-list celebrities and athletes are now signing contracts in bitcoin. Five years ago, you could buy bitcoin for less than $1,000 per coin. Fast forward to today and bitcoin trades for as high as $64,000. This means your initial investment could have multiplied by 64 times.
The best news for bitcoin investors is that it is now mainstream like the dollar. Click to see how you can buy and sell bitcoin at an ATM in your city.
Bitcoin was so popular that a number of altcoins emerged. Litecoin is a prime example of a profitable alternative.
What is cool about litecoin and other cryptos is that they follow a similar trading pattern to bitcoin. This means that you can make equally good returns investing in altcoins.
The crypto market is so hot that even joke coins earn incredible returns. Dogecoin was established as a joke and uses a picture of a small Japanese dog as its logo.
Six months ago, you could purchase dogecoin for less than a penny. Since then, it has spiked to nearly 70 cents per coin. Even billionaires like Elon Musk and Mark Cuban are on the dogecoin bandwagon.
Ethereum is another popular crypto currency. Over the past 52 weeks, Ethereum traded for less than $250 per share.
Meanwhile, its high over the same period was near $4,000. Investors who bought ethereum retained the ability to make enormous returns.
The Ultimate List of Crypto Currencies
There are dozens of other legitimate crypto currencies out there. Do your research and it is certain that you will have an opportunity to make money.
While cryptos are volatile, there is a chance to get on an enormous wave. If you enjoyed this article about the ultimate list of crypto currencies, check out our blog for more great content.