With the growing number of investors in digital assets, many people are searching for the right cryptocurrency. Ten years back, virtual currencies were not existing. The value of Bitcoin alone set a record in investment history in 2017. Most of the investors are now investing some percentage of their wealth in cryptocurrencies.
However, the vital question is where to invest in? More precisely, which one among Bitcoin, Stablecoin, and Altcoin. If you think bitcoin is the best among the three, the problem is its price has reached a level, so it may not move up further. On the other hand, Stablecoins may not give you high returns, and altcoins may boom like bitcoin. Here we will see which is the best option and what
Bitcoin Vs. Stablecoin Vs. Altcoin
Once you read this article, you will understand the clear distinction between these three. Again, you can also decide which one is better for trading and investment purposes. We will start with Bitcoin.
In case you are new to digital currencies, you may not have much knowledge about other cryptocurrencies. But you must have heard about Bitcoin somewhere, I guess. It is the first cryptocurrency and has a high demand due to its rise in value. The number of bitcoin investors is overgrowing after the bitcoin revolution.
If you want to invest in Bitcoin, you can buy it from crypto exchanges like Weed Profit revolution’s official site. It would help if you had a bitcoin wallet to store the bitcoins. The value of bitcoin is hovering around $10,000, and it is likely to increase in the future. However, you can invest in Bitcoins with as small as $1 as you can invest in the fractions. But the minimum balance required for trading or investing is $10 to $20 in most of the crypto exchanges.
As the crypto space is vulnerable to cyberattacks, you should choose your crypto wallet and exchanges carefully. Before you invest in bitcoin, let’s understand about Altcoins and Stablecoin.
Altcoins are nothing but cryptocurrencies other than Bitcoin. Every altcoin has a different purpose in serving the world. Some of them offer useful privacy features, while others have faster transaction features. These are also good investment options, but you should not invest in any altcoins thinking they are cheap.
More than 1600 altcoins are available in the crypto market. So, it may be challenging to choose a single coin from such a vast list. Thus, I have mentioned some of the popular Altcoins you may want to invest in.
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
These are some of the best alternatives to invest in other than Bitcoin and Stablecoin. While writing this article, the price of these coins is, Ethereum- $358.5, Ripple- $0.2427, Litecoin- $46.72. The price of these coins changes according to market fluctuations. Now let’s explore Stablecoin.
Stablecoins are not volatile as compared to Bitcoin and Altcoins. Although these coins are also cryptocurrencies, they involve less risk than Bitcoin and Altcoins. Stablecoins are gaining popularity for offering a stable platform for investing in the crypto industry.
Like other cryptocurrencies, Stablecoins are also secure, transparent, and offer privacy. However, some Stablecoins are regulated and provided by one of the most popular crypto exchanges, Gemini. Here are some examples of Stablecoins you may want to invest in.
- Gemini Dollar
- Paxos Standard
These Stablecoins are secure and stable cryptocurrencies. Although the returns are not much higher like Bitcoin or other potential coins, they are profitable in the long run.
If you are new to digital currencies, you should invest in Stablecoins as they are less volatile than other cryptocurrencies. However, it would help if you never neglected Bitcoin; always keep an eye on its price. As it is the original cryptocurrency, the price can tell you much about other cryptocurrencies’ price. Lastly, please share your opinion on this post in the comments section below.