Finding a cryptocurrency that is guaranteed to give you high returns is hard because all cryptocurrencies are known for their price volatility and investment-related risks are high. However, if you can make the right choice, a cryptocurrency can actually yield very high returns. The trick is to do research beforehand and track developments in cryptocurrency trends.
Most people who have started investing in cryptocurrencies have the dream that they will become millionaires some day. If the value of Bitcoin and other crypto coins continue to escalate over the next few years, it is possible that this dream will come true. Small investments in the profit-yielding cryptocurrencies can generate colossal profits later on. Of the different cryptocurrencies that are available today, investing in the Bitcoin is the best move as this currency is expected to bring in big returns. Gaining some Bitcoin Era erfahrungen or experiences using bitcoin era software application will help you trade bitcoin efficiently as everything is automated.
The Bitcoin was launched in 2009 and can be stored in cold and hot wallets; it is based upon the blockchain technology where transactions are recorded in a public ledger and viewable by one and all. This decentralized currency is a peer-to-peer currency relying on cryptography for facilitating transactions. Since transfers are recorded in the blockchain, one can trace Bitcoin history to prevent people from spending currency that they do not own, or make copies.
Ever since investments in cryptocurrency began, people are getting wealthier because of the Bitcoin and other altcoins. For instance, the Bitcoin, which was valued at $13 way back in 2013, escalated to $20,000 in 5 years. The best way to get rich through cryptocurrencies is through buying Bitcoins and holding them.
This is similar to holding stocks or shares in the market; you buy an asset, wait for its value to go up, and then cash it out. In case of the cryptocurrency, you wait for the prices of the coins to escalate and then you get to sell at higher rates than what you bought them for.
There may be many crypto coins for investment, but it is best to stick to Bitcoin, Litecoin, Ethereum, and Ripple. All of them are secure and have been in existence for a while. Investing in new coins may require you to spend less money, but chances are high that the coins will disappear soon.
Which cryptocurrency can make you rich?
If you wish to invest in the Bitcoin you must stay updated with all the latest trends concerning Bitcoins. Even if the price falls, it may be a good time to buy the coins as you will get them for a low rate. You have to believe that Bitcoin has a future; only then should you invest in it to become richer.
2020 is believed to a great year for Bitcoins according to McAfee, founder of the antivirus software and a prominent individual in the cryptocurrency world. He believes that Bitcoin will strike $1 million by this year. The NASDAQ is expected to add BTC to its trading services. Since the Bitcoin will be experiencing forking in May, 2020 when it will be halved, market experts feel that there will be a huge surge in prices after the “halving”.
Prices of Ethereum are also going up steadily; in 2017 the climb was almost 3000%. Today, it is second only to the Bitcoin in terms of market cap, and investing in it may be a good idea. Unlike the Bitcoin, Ethereum is more than a digital currency; it refers to a blockchain project that allows developers to create their own cryptocurrencies.
Tipple or XRP has been one of the best performing cryptocurrencies of late and is likely to yield good returns. XRP is third in terms of market cap and Ripple remains popular because it doubles as a payment system. It uses blockchain technology for making international payments faster.