When it comes to investing in cryptocurrency, what’s the best crypto for beginners?
We understand that battling through ‘which one is better or which one to buy’ can be overwhelming. We also know that we can’t really tell which crypto to invest in. But we can keep things as simple as possible by curating what we consider are the best currencies based on market capitalization.
Market capitalization refers to how much a company is worth as determined by the stock market. It is defined as the total market value of all outstanding shares. So, here’s a brief overview of top 5 cryptocurrencies that you can try (based on data May 2022):
1. Bitcoin (BTC)
The original and most well-known cryptocurrency, Bitcoin has become a household name (and market cap leader) since it was created anonymously in 2009 by Satoshi Nakamoto. Bitcoin’s price has skyrocketed, in May 2016, you could buy Bitcoin for about $500, as per May 2022, a single Bitcoin’s price is around $29,000.
2. Ethereum (ETH)
Ethereum is the second largest cryptocurrency in terms of market cap, it has grown exponentially since its launch in 2015. From April 2016 to the beginning of May 2022, its price went from about $11 to over $2,000.
3. Tether (USDT)
Unlike some of other forms of cryptocurrency, Tether is a stablecoin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations.
4. U.S. Dollar Coin (USDC)
USDC is powered by Ethereum, and you can use USD Coin to complete global transactions. Like Tether, USDC is backed by U.S. dollars and aims for a 1 USD to 1 USDC ratio.
4. Binance Coin (BNB)
You can use BNB to trade and pay fees on Binance, it is one of the largest crypto exchanges in the world. Since its launch in 2017, BNB was just $0.10 and by early May 2022, its price had risen to to around $279
*Disclaimer: The content of this article is not financial advice. The article is for educational and informational purposes only. Readers should do their own due diligence when purchasing cryptocurreny.
