Price interest has increased on cryptocurrencies this year. Let’s look at the top 5 crypto currencies and learn more about them
Bitcoin is the king of cryptocurrencies and has a market cap of 425 billion market caps
Money has evolved over time. As we can see in the photo below. Bitcoin is its last phase of evolution.
Bitcoin, also known as BTC, is a decentralized cryptocurrency originally described in 2008 and released in January 2009. Bitcoin is a peer to peer transaction network. It does not need any third party or other network participants.
The price of Bitcoin has seen a whirlwind of a few months. BTC started with 7300 at the start of the year. I went to $ 3,800 in March and is now $ 23,000, a 6-fold jump in 9 months.
But how can users invest in such a volatile asset? Investing in such a volatile asset requires systematic planning to achieve it. Fortunately, there are products now that help you make systematic or SIP investments in Bitcoin even with as little as INR 100 per day and the returns have been staggering. Products like bitdroplet.com allow users to do the same.
You can check the picture below:
Ethereum is a global open-source platform for decentralized applications. Ethereum is the second largest crypto asset in the world. Think of it like a google playstore for decentralized apps where Google can’t delete any apps. Ethereum’s first price was around $ 0.2 / ethereum. It is currently 600 USD per ETH. Once again, investing in Ethereum has been a crazy experience due to the volatility. Volatility has decreased over time, but it is still much higher than traditional asset classes. The price of ETH was $ 220 at the start of the year and $ 86 in March 2020, and rose to $ 670 in December 2020. Fortunately here, too, users have the option to systematically invest in ETH by using SIP through products like bitdroplet.com You can start with as little as INR 100 and most SIP in crypto assets. Ethereum has some interesting applications and could create a very unique way to bank unbanked people. Here is a chart of the returns with ETH SIP and other asset classes.
XRP tokens are consistently among the top 5 assets of the crypto market capitalization. It was launched in 2012. Ripple labs is the American company that develops the Ripple payment protocol. XRP tokens are the fuel that runs through the ripple payment protocol. XRP has been controversial in its roots given its rather non-decentralized nature compared to BTC and ETH. XRP has seen a wide variation in price over time. The fluctuations have subsided over time. But XRP experienced a massive fluctuation in 2017. It went from around $ 0.01 to around $ 3.5 in the space of a year. Traders who appreciated the volatility benefited from the fluctuation. As investors, XRP has underperformed other major coins over the past few years. Users can trade XRP from platforms such as bitbns with as little as INR 100. Recent reports that XRP could face a lawsuit from the SEC as there is a chance it will qualify as a stock. The current price of XRP is around $ 0.45
About the Author:
Gaurav Dahake, the author works for Bitbns.com and has built businesses and adapted them to millions of users. Passionate about crypto, his first contact with crypto came when he tried mining in college in 2012. You can contact [email protected] in case of feedback.
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