Get Into Cryptocurrency Trading Today

Contrary to what people who are not conversant with the crypto world think, bitcoin is not the only crypto. While that may be the case, bitcoin for sure paved the way for your favorite crypto. Cryptocurrencies have shown great potential in helping the global economy and shaping a new future. That is by offering easy access to finance and capital. 

Cryptocurrencies are changing the way things work. Soon, they will be the talk of the investment world. The cryptocurrency field is expanding as more cryptos are being established and mined.

If you are considering being part of the crypto market, there are several cryptos you might want to add to your portfolio.

Favorite crypto for your investment portfolio

1. Bitcoin 

Like most of the other cryptocurrencies, bitcoin's control is decentralized. The cryptocurrency offers users a convenient way to transfer money. That is through over the internet, making it an ideal alternative to fiat currency. What makes this a favorite crypto among its users is that it is a good store of value. It is also an acceptable means of exchange. 

Bitcoin also exhibits the six characteristics of a successful currency. That is counterfeitability, scarcity, durability, transportability, scarcity, and divisibility. Bitcoin, which was launched in 2009, so far has the largest market capitalization. 

Bitcoin is considered the king of cryptocurrency as it exhibits an incredibly high liquidity value and the most stable one in this case. Since it was the first crypto to be established, it is the most favorite crypto market. That is evident in its popularity, acceptance, and demand. 

Some companies are already accepting bitcoin as a mode of payment. Bitcoin's price today stands at $34,192.20, with a market cap of $642.52 billion. The trading volume in 24 hours is $44.56 billion. From that overview, it is clear that the cryptocurrency is performing exceptionally well, and the liquidity is also excellent.

2. Ethereum

Ethereum was established in 2015 and is one of the largest and most established cryptocurrencies today. One unique thing that will make you add it to your list of favorite crypto is that it allows the deployment of smart contracts.

This way, contracts are run on a decentralized application. They are free from downtime and control and interference from third parties like lawyers and brokers. One of the biggest benefits of investing in Ethereum is its flexibility. 

You can apply it in enterprise blockchain solutions, nun-fungible tokens, and decentralized finance. This means that its applications are not limited to the crypto world. Ethereum is also said to be less energy-intensive than other cryptos at its level, making it environmentally friendly. 

Note that the cryptocurrency is highly volatile, and anyone looking to invest in it should have a tolerance to risk. It is essential to have a well-diversified portfolio to distribute the risk. Ethereum's current price is $2,503.92, with a market cap of $290.99B. The trading volume is also impressive, standing at $43.82B.

3. Litecoin 

Litecoin can also make it to the list of most investors' favorite crypto. It is loved for its low transaction fee, which makes it easy to use. Transactions in the Litecoin network happen faster than in the bitcoin network, which speaks volumes about the suitability of the crypto for investment.

Worth noting also is that the open-source global payment network is decentralized. It also uses scrypt for proof of work. The block generation time for this cryptocurrency is also faster compared to bitcoin. This leads to a speedier confirmation time. 

The good news is that the crypto's adoption is on the rise as more merchants accept it for payments. 

The current litecoin price is $159.29. The cryptocurrency boasts a market capitalization of $10.81B and a $3.095B trading volume. Its blockchain generation speed contributes to its relative speed and low cost, making it ideal for small everyday transactions. This explains the volume.

4. Cardano (ADA)

Cardano is one of the essential cryptocurrencies holding a top-five position in market capitalization. The third-generation cryptocurrency has improved upon the first and second-generation cryptos' shortcomings.

We are talking about a layered architecture that has improved the cryptocurrency's sustainability, scalability, and security. Cardano also looks to improve the world's economy by enhancing accessibility to many people who cannot open bank accounts. 

The blockchain is 100% decentralized, meaning that the network's operators are responsible for the block's production. This has been an attractive factor to investors as it has contributed to the security of the crypto. The decentralization reduces the probability of attack and susceptibility to other risks. 

Other investors are banking on Cardano for connection for other collectibles like non-fungible tokens. The cryptocurrency price is forecasted to go high if investors can create non-fungible tokens on the blockchain.

Cardano's current price is $1.73 with a market cap of $55.54B and an $11.38M volume. 

5. Polkadot (DOT)

The goal behind the establishment of the cryptocurrency is to bring about interoperability. Polkadot can connect other blockchains and oracles to allow the systems to work harmoniously. If you are looking for an altcoin, Polkadot will make your ideal favorite crypto.

One of the selling points of the cryptocurrency is its scalability. It has successfully eliminated the slow communication chains that previously existed between blockchains. Polkadot is an active blockchain, which has also seen its constant increase in value. 

The token possesses a powerful architecture and features that you can utilize for a wide range of Defi programs. The current Polkadot price is $21.53, with a market cap of $20.39B and a volume of $2.3B.

Favorite crypto in the market

When looking at the favorite crypto in the market, you should have your eyes on the price, market cap, and volume. This will tell you a lot about the adoptability of the cryptocurrency, value, and use. Bitcoin, Ethereum, Litecoin, Cardano (ADA), and Polkadot (DOT) are on the list of the most important cryptocurrencies in the market.
They all have their unique selling points and weakness. It is essential to look at the associated risks of investing in cryptos.

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