Cryptocurrency has been the talk of the town in recent days.
There is no doubt that bitcoin is the most valuable cryptocurrency. It emerged far back in the year 2009.
You must have heard about Bitcoin, Ethereum, or Ripple right!
The cryptocurrency market is getting fast and extremely wild day by day.
Now to the big question!
“What could be the possible reasons for the fast growth of cryptocurrencies?”
The entire prices are driven by the increase of the mainstream adoption and rising awareness of cryptocurrency in public.
In other words, the laws of demand and supply are the crucial factors that affect the prices of this digital currency.
The increase in bitcoin price over the years has awakened the interest of many investors, in different cryptocurrencies.
What is Cryptocurrency
A cryptocurrency is a digital asset. It is explicitly designed to work as a medium of exchange using cryptography security to secure its transactions. The control of creating more units, as well as verifying the transfer of assets.
Cryptocurrency is best for fast and convenient means of payment worldwide.
Remember the law of demand! “The higher the demand, the higher the price”.
The increasing demand and rise in people’s interest in cryptocurrency are letting its prices touch more considerable heights.
Welcome to the flight of cryptocurrency. Fasten your seat belts and get ready for taking off to a digital world, a world of virtual money. On our arrival, you will be aware of the main digital currency that has the potential of growing.
Not till now, Bitcoin had been the leading among other cryptocurrencies. Bitcoin’s record-breaking and the potential to keep growing should not be underestimated.
However, the recent fluctuations in bitcoin daily prices for a while now should be a major concern that must be looked into.
Aside from bitcoin, some other cryptocurrencies have also displayed potential in them.
Crypto Coins like; Ripple, Ethereum, Litecoin, and Bitcoin Cash, among others, shouldn’t be left behind.
We will discuss the top cryptocurrencies in the world that have potential in Nigeria for real-time investment.
Best Cryptocurrencies For Investment
1. Bitcoin
Bitcoin is the most popular among other cryptocurrencies in the world today. It is also the most valued in terms of exchange for real money.
Over the years, bitcoin has grown unimaginable. Some financial expert has made a strong statement that a bitcoin will hit 100,000 USD in years to come.
Bitcoin as a digital currency is based on the peer-to-peer technology system, a kind of system where transactions are recorded in public a distributed ledger known as Blockchain.
The number of businesses that now accept bitcoin for the exchange of goods and services is really on the increasing side.
Most well-known e-commerce stores and online shops are not left behind.
The price of Bitcoin has been skyrocketing. It even got to a price above $11,000 for a bitcoin in the last month of 2017.
The rise in the price of bitcoin is just unstoppable. Although most Nigerians believe the price of bitcoin will soon crash. Their point is that “anything that goes up must surely come down“. But, only time can tell for sure.
To buy a bitcoin, you can use your debit or credit card instantly.
The primary concern on bitcoin by many countries is that it can be used anonymously. It means that terrorists can take advantage of it, or it can be used for secret missions.
As a result of this, Governments of some countries are putting restrictions on bitcoin trading.
On the other hand, some governments have legalized this mode of a digital system of payment. The truth remains that bitcoin worth was given a trial over other cryptocurrencies in existence today.
2. Ethereum
Second in our list is Ethereum. Just like bitcoin, Ethereum is also a decentralized platform for applications running precisely the way it is programmed.
It is programmed to run Smart Contracts based on a custom blockchain.
There are also Ethereum wallets to hold and secure Ethereum to deploy and use smart contracts.
In other words, Ethereum is an open software. The platform is based on blockchain technology which focuses on the smooth-running code of any decentralized application, also known as Dapps.
Ethereum has also been growing over the years. Which still has the potential to grow even more.
Ethereum portrays itself as a platform more than a currency. With the rise of Dapps, Ethereum should not be overlooked. It is an excellent investment for future gains.
3. Bitcoin Cash (BCH)
Bitcoin Cash (BCH) brings sound money to the world, fulfilling the original promise of Bitcoin as “Peer-to-Peer digital cash”.
Merchants and users of bitcoin cash are empowered with low fees and reliable confirmations.
The future of bitcoin cash shines with unrestricted growth, permission-less innovation, global adoption, and decentralized development.
You are welcome to join the growing Bitcoin Cash community as they move forward in creating sound money accessible to the whole world.
Bitcoin Cash protocol ensures that there will never be more than 21 million coins in existence.
Governments continually print money, endlessly thereby inflating the supply and devaluing people’s savings. But Bitcoin Cash has a fixed supply and therefore represents sound money.
Bitcoin Cash network fee for transactions is less than one penny. To convert your Bitcoin Cash into real money. It can be done via merchant processors for a cost that is still much lower than the credit card processing.
What is the difference between Bitcoin and Bitcoin Cash?
4. Ripple (XRP)
Ripple can be referred to as a transaction protocol for Global Payments. Ripples help in transmitting payments globally at a meagre rate.
Ripple connects digital asset exchanges, banks, payment providers, and corporates via RippleNet to provide one frictionless experience, which is to send money globally.
It is built on advanced blockchain technology which is scalable, secure, and incorporates many networks.
Payment providers, digital asset exchanges and banks, provide liquidity for payments on RippleNet, therefore creating a new, competitive cross-border payments services available for their customers.
5. LiteCoin
Litecoin is also a peer-to-peer Internet currency that enables instant, near-zero cost payments wherever in the world.
Litecoin is an open-source global payment network platform that is decentralized without any central authorities. Mathematics is used to secure the network and empowers individuals to control all their finances.
Litecoin features swift transaction confirmation times and improved storage efficiency. With industry support, liquidity, and trade volume, Litecoin will be a proven medium of commerce complementary to Bitcoin.
Miners here are currently rewarded with twenty-five new litecoins per block.
The Litecoin network is scheduled to produce 84 million litecoins, which is 4x as many currency units as Bitcoin.
6. NEO
NEO was China’s first digital coin. It is a direct competitor of Ethereum.
The NEO coin is more than just a digital currency. NEO is a blockchain-based framework that allows developers to create Smart Contracts with decentralized applications.
Smart contracts are the next big thing which can be applied to many real-life businesses and situations.
7. Cardano
Cardano is a decentralized blockchain and crypto project. It is also a fully open-source cryptocurrency project.
This Cardano crypto is developing a smart contract platform that seeks to deliver more advanced features than any protocol ever developed.
It happens to be the first blockchain platform to evolve out of scientific philosophy. The development team consists of a large collective of expert engineers and researchers worldwide.
8. EOS
EOS is said to be the most powerful infrastructure for decentralised applications.
EOS is a blockchain technology similar to Ethereum. EOS plans to create its blockchain with a list of impressive features. Some refer to EOS as the Ethereum killer.
9. Stellar
Stellar is a platform that connects people, banks and payments systems. Integrate to move money more quickly, more reliably, at almost no cost.
10. Monero
This Monero is also a digital currency that offers a high level of anonymity for its users and their transactions.
Monero is a peer-to-peer cryptocurrency characterised as private digital cash.
Conclusion
Although Bitcoin seems to be the most famous and most preferred cryptocurrency. But potential investors are keeping an eyes on price fluctuations in other top virtual currencies as well.
Please note that one needs to be cautious while investing in cryptocurrency no matter the level of profits to it.
However, Crypto Wind is blowing with full force internationally. It is disrupting the commercial space to a larger extent.
Finally, please note that we are not advising anyone to invest in cryptocurrency. The information we wrote here is for research and awareness purpose only. If you decide to invest in cryptocurrency, we will not take responsibility for any loss or damage.
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