Are you looking for the best cryptocurrencies to invest in 2019? Choosing between different blockchain technologies to support it can be overwhelming and confusing. With hundreds of cryptocurrencies available, picking the best one is tricky. And most probably, you’re also wondering whether to invest in Bitcoin or Litecoin.
Since Bitcoin’s inception, more people have been making money from this entirely digital currency platform. These digital assets have become popular due to the meteoric rise in Bitcoin prices and other cryptocurrencies in the past. Like the stock market and other investment platforms, investors are also interested in trying their luck in cryptocurrencies. However, this unregulated market is also subject to extreme volatility. This means investing in Bitcoins or other cryptos is highly speculative. Unlike traditional currencies, crypto coins are decentralized and are not controlled by any central bank or financial institution. The digital currencies work on the “blockchain” mechanism, where encryption records every transaction in a public ledger.
Investment is all about knowing where to put your money to get rich. In 2019, there are good chances of reaching a bull market. But it would help if you remembered that trading in any cryptocurrency involves risk. So, the best way to minimize that risk is by diversifying your holdings and investing in multiple cryptos. Diversifying your holdings gives you some protection even if one currency underperforms. Moreover, it would help if you framed a successful trading strategy before investing.
In the crypto industry, there are several altcoins besides Bitcoin. If you’re looking to invest in the crypto market, you need to know which coins have the best chance of generating profit in the future. With that in mind, we have compiled a list of the top 3 most promising cryptocurrencies to invest in 2019. So, let’s take a look!
Bitcoin (BTC)
Bitcoin always remains the first and the most obvious choice to invest in. As the world’s first Cryptocurrency, Bitcoin is still the market leader, with 40 percent of the total market share. The price of Bitcoin keeps fluctuating as it has gone from around $76 to as high as $20,000 in December 2017. However, ever since reaching its highest point in December, the price of Bitcoin has been dropping. But despite such volatility, Bitcoin still dominates the cryptocurrency market. Bitcoin should make up a significant portion of your portfolio because it’s the main trading pair for all other cryptos. Several reasons still make Bitcoin a strong contender in the market. BTC is an open-source project, which means anyone can contribute to it.
Moreover, its core development team is constantly engaged in improving the Bitcoin network. Also, this digital currency is listed on every single cryptocurrency exchange. There must be something great about Bitcoin: even Charlie Lee, the founder of Litecoin, had recommended that traders own at least 1 BTC before investing in any other cryptocurrency.
Ethereum (ETH)
The next most trusted blockchain project in the world is Ethereum. It was launched in July 2015 by Vitalik Buterin, a computer programmer. In 2017, this Cryptocurrency grew by about 3000%, and its price skyrocketed close to $1600 on 13 January 2018. With this, Ethereum became the second-largest Cryptocurrency, next only to Bitcoin. The coin has caught the attention of crypto developers and has begun to reverse its last year’s losses. ETH is more affordable than Bitcoin but costlier than BAT and Ripple. As an intermediate coin, buying ETH can help make your portfolio more diverse. Ethereum is an even more advanced blockchain technology than Bitcoin, which can hedge the risks of investing in newer coins.
Ripple (XRP)
If you’re looking for the best Cryptocurrency to invest in 2019, then Ripple can be the right option. Ripple is one of the most stable cryptocurrencies in the industry. Ripple sees more than $800 million daily trading volume as a low-risk investment and the most liquid Cryptocurrency. Ripple technology holds the potential to revolutionize the way payments are made. In 2017, Ripple became the best Cryptocurrency to invest in, jumping from just a couple of cents to $2.4. Now, the company behind Ripple is trying to make more companies use their technology. With this move, the price of XPR is expected to go up further. Ripple technology is already used by big companies like JP Morgan, American Express, and Saudi Arabia’s central bank, and MIT accepts Ripple as a legitimate form of payment. With a market capitalization of over $18 billion and nearly 40 billion coins in circulation, XRP is the third-largest coin behind Bitcoin and Ethereum. This makes the XRP coin one of the best cryptocurrencies to invest in in 2019.
