5 Cryptocurrency you can invest into and make money

It isn't news again that cryptocurrency is one of the factors to invest in. Cryptocurrency is a blockchain technology.

Apart from investing, cryptocurrency can be used for purchases as it is accepted in most countries. In every investment their is a risk and reward as cryptocurrencies isn't exempted. Volatility makes investing in cryptocurrency risky.

Now let's go into to 5 cryptocurrency you can invest in

The first on our list is

(1)Bitcoin (BTC):

Bitcoin is the leading coin in all crypto currencies as it's market cap and price is much higher than any other cryptocurrency.

Bitcoin is one of the oldest coin to grace cryptocurrency.

It is also accepted by many businesses as means of payment as it is considered safe and also fast. Examples of companies that accepts bitcoin as means of payment is Visa, they transacts with bitcoin and many more companies.

Investing in bitcoin can be of great usefullness, but as useful it might be, it carries it own risk as the value of bitcoin tends to flunctuate a lot. The price might go up or down thousands of dollars as seen in the year 2022 when bitcoin came down to one of it lowest value, with many investors lossing money in the process. But thankfully bitcoin is back on it rise as on this writing of this article it is worth $30,000 plus. So if you want to consider investing in bitcoin know the risk and reward involved.

(2)Ethereum (ETH):

Ethereum is another coin you can consider when you want to invest.

Ethereum value is far behind bitcoin but it is also a very good coin to consider as it is also valued than other competitors. Ethereum also allows developers to create their own cryptocurrency and deploy smart contracts utilizing the network.

Ethereum is the second largest cryptocurrency behind bitcoin as it is the most popular blockchain. Ethereum is a coin i would recommend if you want to invest into cryptocurrency. Ethereum also carries it own risk as it's slow transaction and high gas fees it an issue. Transactions takes longer to process when the network is overloaded.

(3)BNB (BNB):

Investing in BNB is also another profitable option. BNB which formerly called Binance coin is one of the more stable investment option. It has grown in line with binance's expansion.

BNB can be used to transact on the binance exchange. Apart from being one of the world's popular tokens, you can trade BNB like any other cryptocurrency and also use as a wide range of applications and use cases. This is one of the coin i would recommend for investing. BNB also has it risks which must be considered when investing.

(4) Litecoin (LTC):

Litecoin is another coin to consider investing in. Lite coin was created in the year 2011 as an Improved alternative to Bitcoin.

Litecoin is another coin which has grown over the years. It offers faster block generation and more efficient commissions.

Another advantage about litecoin is that it can be used to transfer funds directly between individuals or businesses. This makes it safe and more secure.

Another special thing about litcoin is that it generates blocks every two and a half mimutes, which is four times faster than Bitcoin's block mining time of ten minutes.

One of litecoin weaknesses is that wealth centralization is higher than in bitcoin. Consider the risk and reward when investing in litecoin.

(5) Solana (SOL):

The last but not the least on our list is solana. If you are considering to invest in a cryptocurrency asset then solana would be recommended.

Solana is one of the best cryptocurrency in term of profitablility.

Solana is a blockchain platform which uses a proof-of-stake mechanism to provide smart contract functionality. One advantage of solana is that it was designed to address security and scalability. It transaction rate is also fast and it also has low cost.

So if you are considering investing, Solana can be perfect for you. This coin also carries it risk as it is something you should look into also.

Komolafe Peter Adedayo

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