Cryptocurrencies have become so popular and it’s growing day by day, not just simply buying and holding, but it is going beyond that. These top cryptocurrencies are being slowly accepted as payment on online ‘bridge’ services.
Here are some of the top cryptocurrencies given below:
1. Bitcoin:
Image Source : CNBC
It is the most admired and is the longest living cryptocurrency in India. It is also known as the gold standard of cryptocurrencies. Bitcoins run on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers. Bitcoin is a decentralized digital currency, without a central bank or single administrator that can be sent from user to user without any intermediaries, Bitcoin is kept secure and safe from fraudsters, so it is easy for others to invest without any doubts.
2. Ethereum:
Image Source : The Indian Express
This cryptocurrency is in the second most valuable position after bitcoin. The Ether token is based upon the Ethereum blockchain and has become a cornerstone of the cryptocurrency world. You can say it as if Bitcoin is gold then Ethereum is a Silver. Ethereum has introduced the latest and easy way of blockchain security and usage, with its smart contracts, becoming a platform for other applications. Ethereum is also looking to become environment friendly and bring down its transaction costs in effect an attempt to remain popular among investors and developers.
3. Tether:
Image Source : The Financial Times
Tether has become a ‘stable coin’ with minimal volatility of the value, thus this token is ‘tethered’ to the value of the US Dollar, That makes it a convenient intermediate currency for a trader, or even just to hold profits until you decide what you would like to invest in next. You can easily sell one cryptocurrency to get Tether tokens, and then sell those tokens to buy another cryptocurrency. According to the buyers, thether is the most boring cryptocurrency to use, and many argue that stablecoins defeat the underlying principle of cryptocurrencies being decentralized, but it plays a crucial role for exactly that reason. Thus Tether allows users to experience the blockchain network while also encrypting their investments against major price surges and falls.
4. Shiba Inu:
Image Source : The Economic Times
Shiba Inu is the meme-based cryptocurrency that has overtaken its long-stood rival dogecoin in the past month with an 800% price gain. Although market experts are not sure about its fluctuations as SHIB was launched in 2020, its currency performance in the market has outperformed many top cryptocurrencies. Shiba Inu is one of the Best-Performing Cryptocurrencies of the Year, although gains of this nature are likely not possible, there is still plenty of upside potential left with this token. On top of the constant hype that this crypto asset receives from the broader market, Shiba Inu is listed on all major exchanges.
5. Cardano:
Cardano is another one of the best cryptocurrencies for Indian investors to buy in 2022. It is a platform that is capable of running financial applications currently used every day by individuals, organizations, and governments from across the globe. Cardano is helpful, convenient, eco-friendly, and has a transparent nature that makes it the perfect alternative for bitcoin. Its blockchain also supports NFTs and smart contracts for DeFi usage. It is helpful for the investors as it helps to track the farm supply chain, fight retail plagiarism, and more. Cardano is more environmentally friendly compared to other currencies that use an energy-intensive mining process.
So here we are ending this blog hope you got some ideas if you are looking to begin crypto day trading! Do share your thoughts on this and as always always always #StayDarooon.