WHAT CRYPTOCURRENCIES ARE GOOD TO INVEST
To invest in cryptocurrency is complex especially for the traditional investors because it is digital and required to be technology savvy.
The reason is that investing in cryptocurrencies required to learn how to use new technologies, tools and following some new concepts
If you are thinking of investing in cryptocurrency, you need to first do research and have a clear idea of how it works and what to expect from your investment
There are many types of cryptocurrency you can choose to invest . Whether it is Bitcoin, Ethereum, Litecoin, Polkadot, $Kings or anyone from the 4157 currently listed on coinmarketcap or those yet to be listed on it.
Major cryptocurrencies by coinmarketcap
Most people are often confused between the two terms crypto and bitcoin. Bitcoin is the most popular decentralized cryptocurrency , it is widely known because of the dominance in the market share.
This index, offered by CoinMarketCap, measures Bitcoin’s market capitalisation (market cap) compared to the overall market for other cryptocurrency . There are some other reliable cryptocurrencies that worth investing if you are thinking of crypto-investment
Bitcoin is the first decentralized digital currency. All Bitcoin transactions are documented on a virtual ledger called the blockchain, it is accessible for everyone to see and view.
Bitcoin gives you complete control over your money so far you saved it in private wallet that you have the key, unlike other assets you own which are regulated by banks and governments
As bitcoin gains more popularity, more and more institutional investors and countries are adopting it today
It was launched in the year 2015, Ethereum is a decentralized software platform that enables distributed applications and smart contracts to function without third party interference. The currency is the ether that is like an accelerator within the ethereum platform.
In the leading cryptocurrencies space, Ethereum. Is the second largest cryptocurrency by market capitalization. With lot of projects using it blockchain as ethereum-based tokens
Litecoin is a peer-to-peer cryptocurrency based on blockchain technology and it is aiming to serve as the foundation for a global digital payment system.
It is like bitcoin in a lot of ways, however, in terms of speed, the block of Litecoin is faster that the one of bitcoin.
This is one reason Litecoin is accepted globally by investors, it is created by a former engineer at Google Charlie Lee
Cardona is a proof-of-stake blockchain platform and the first to be founded on peer-reviewed research and it was developed through evidence-based methods.
It merges pioneering technologies to provide unparalleled security and sustainability to decentralized applications, systems, and societies
They have a leading team of engineers, cardano functions to reallocate power from unaccountable structures to the margins – to individuals – and be an enabling force for positive change and progress in cryptoworld
The project creation idea was conceived by co-founder of Ethereum Dr. Gavin Wood and the developer have been working on the protocol since four years ago.
The project was popular during the era of ICO ( initial coin offering ) with a lot of supporters and publicity for the project and it was founded by the Web3 Foundation. Their Web3 Foundation has contracted for five teams and over 100 developers to build Polkadot.
Their light paper highlighted that the protocol is built on heterogeneous blockchain.
Furthermore Polkadot is a next generation blockchain protocol that allows arbitrary data—not only tokens—to be transferred across blockchains.
This simply means Polkadot is a true multi-chain application environment where things like cross-chain registries and cross-chain computation are possible.
Kingswap made the list because, it is the first defi regulated project in Singapore, and they are under the singaporean pdpa (personal data protection act) and their token $king was regulated in Singapore
The platform Token $king is designed as rewards for a high yield staking LP Token model. It is given as rewards for liquidity miners .
There are a lot of ways holders can use $King to take part in the ecosystem and earn more $king with other perks and benefits. It can also be used as a medium of exchange for other currencies from LPs
Kingswap was standing out among other Defi projects because of this following features they have :
(1) Early leader in NFT usage and marketplace
(2) Real use case and real tech and products
(3) Great market timing
(4) Real and committed team and advisors
(5) Strong partnerships and ecosystem support
(6) Regulated token
There are two types of exchanges where you can buy and sell cryptocurrency centralized exchange known as Cex and decentralized exchange popularly known as Dex
Centralized exchange is the first version of cryptocurrency exchange , it is a kind of exchange that is built and the admin of the exchange has total control on all the users’ data, assets and stored funds in the central server
This type of exchange worked like a bank where the traders deposited their fund and the admin is the one in charge of the fund, the order book that shows all trade orders, user can set up 2fa and other security measures on their account but the admin stored all their assets in a central servers
Decentralized exchange is an exchange that didn’t controlled by the central party . It is completely decentralized in such a way that the platform didn’t need information, data to pass through a single point
It is a peer-to-peer; it is independent of intermediaries, though the server is being controlled by the admin but the exchange is not, it is more safer and secured because you are in control of your fund .
No other party has access to your information, and it uses a digital signature to authorize the trades . It didn’t require kyc to use and give user more control over the fees and others
Popular exchanges to buy and sell cryptocurrency
Binance is unarguably number one exchange on the coinmarketcap, and it is one of the largest exchanges with varieties of active markets with great selection of pairs . It is knowns as a safe exchange because it has features whereby users can protect their accounts via the use of 2FA(Two Factor Authentication) and have a SAFU ( Secure Asset Fund for Users)
Coinbase is one of the most trusted and secured cryptocurrency trading platform, it allows users the ability to trade all sorts of digital assets on their secured and insured platform. Their industry leading API , insurance protection and competitive fees give them an edge over others '
Undoubtedly huobi is one of the best exchanges to trade cryptocurrency, they have been one of the leading exchanges for some years now; they have extraordinary security features, asset listings, 24/7 customer support, their trading fees is also fair compared to other exchanges . It is a recommended exchange to start your crypto trading
Without doubt, Kraken is one of the largest and oldest cryptocurrency exchanges in the world, many times Kraken is dubbed one of the best places to buy and sell cryptocurrency online because of their excellent service , low fees, flexible funding possibility , their security is also top-notch. They have been in the blockchain's limelight revolution since 2011.
Kingswap is a newly built and promising decentralized digital exchange that has a distinctive feature ahead of successful Defi protocol–Uniswap.
KingSwap was initially a UniSwap fork (a copy of SushiSwap), but KingSwap has since become a hybrid platform (a mix of decentralized finance “DeFi” and centralized finance “CeFi”).
HyFi platform allows users to perform transactions in a DeFi manner ( i.e. Trade on a decentralized exchange like uniswap and have your own wallets to store your tokens) and CeFi manner, to all lovers of decentralized exchange, Kingswap Dex is exciting
Kingswap is a fork of the Uniswap protocol, with additional improvements and features such as upcoming layer 2 and layer 3 implementations,
Layer 2 is all about reducing the gas fees and slippage index transactions, and layer 3 is all about the Fiat conversion solution. The fiat off-ramp solution over Uniswap and Sushiwap is an enormous boost.
Kingswap also have an e-commerce shop where beginners who need affordable bitcoin packages can buy it with their debit or credit card as low as $100 with monthly return of %1 on their deposit
Kingswap fiat off-ramp debit card program also allows holders to has also rolled out a much needed fiat off-ramp debit card program that allows holders to easily swap their crypto currencies into USD and can spend the USD online or at stores, or withdraw as a cash from ATMs globally
There are over 4157 cryptocurrencies to trade, and it is impossible to deal with all of them. Spreading your fund to buy a few of them will give you an immense advantage than investing all on one . It is good to do thorough research before committing funds . With that, you can detect rugpull projects that can cause poor investment.
Furthermore, before you make any attempt to invest in any crypto-asset, ensure you know its market cap, price changes, total supply, circulating supply and daily trading volumes. You can get all the information about the project on coinmarketcap, also on google and visit their websites. Keeping a healthy portfolio is the best way to reap big from these digital assets.