London, UK, 12th August 2021, ZEXPRWIRE – The cryptocurrency market is always moving at a fast pace and it can sometimes be difficult to know where to invest in the new digital currencies. Even though Bitcoin still remains king of the crypto world, with its price having hit over $5000 in recent weeks there are some other cryptocurrencies that have shown considerable growth. When investing in these alternative coins you should consider the potential of the blockchain network they are created around, if it is scalable and can be used for real world applications. You will also want to ensure that its usability is growing incrementally over time as well as looking at any updates scheduled for the upcoming months. These are all factors you should take into account when researching a new cryptocurrency before investing in what you hope can be a profitable purchase.
Financialcentre broker, Daniel Levin gives some of the best cryptocurrencies to invest in now:
Steem Dollars (STEEM)
With Steem you have an autonomous, community-driven digital currency that is traded on the open market for those looking to make a quick buck. The reason this cryptocurrency is one of the best to invest in now, is that it has already shown a considerable return for investors (with an increase from $0.8 to over $5) and its value will only continue to rise as more people begin using it in their daily lives. In 2021 Steem Dollars will have their own blockchain and a new cryptocurrency called STEEM.
Steem is unique as it rewards users for the work they do in the community by giving them a type of credit that can be traded on an open market. The value of what you receive from posting on Steemit can increase considerably with more people signing up to the social blogging site. Another plus point to investing in Steem Dollars is that you will also be able to trade them on several decentralized exchanges (DEX) as it becomes more popular and the number of user’s increases.
The best way to invest in this cryptocurrency now is via STEEM Power, which grants holders influence over the network and can be exchanged back to STEEM at any time.
Ripple is a scalable digital asset transfer system that was created to make it easy for banks and global businesses to send real-time payments around the world. In short, this means that Ripple is planning on revolutionizing how money is transferred between institutions with its blockchain network and by investing in XRP you are purchasing a digital currency that will increase in value as more people secure it to make an online transfer.
Ripple is currently being used by several financial institutions, with the latest announcement from MoneyGram that they are going to use Ripple’s blockchain network for international money transfers just one example of its growing popularity.
Much like other cryptocurrencies, Ripple has been rising steadily over the past few months and with more people becoming aware of its potential it could be worth investing in now while it is relatively cheap. You can purchase XRP at several exchanges including Binance and Coinbase although before transferring it to an exchange wallet you will need to complete your due diligence on the platform and ensure that it is safe.
The best way to invest in Ripple now is via XRP, which can be traded on decentralised exchanges and allows you to buy a stake in the currency, although if you are looking for a quick turnaround then purchasing Ripple it may be the better option.
Lisk is a Blockchain as a Service cryptocurrency (BaaS) that was created to enable developers and entrepreneurs to create blockchain applications without being concerned about the underlying technology. With Lisk there are four core components; the Blockchain Application Platform, Crypto Resources, Skills Framework & Community.
Beginner friendly do-it-yourself projects, custom tokens, ICO hosting & a developer fund are all pretty big deals that will appeal to anyone looking for an easy way to begin trading their own cryptocurrencies. With Lisk there is also a strong focus on education and with the community development program you can learn about the cryptocurrency world while helping others at the same time.
Lisk’s token (LSK) has been steadily increasing in value over the past few months and if it continues on this upward trend then investing now could provide a considerable return. In 2021 when Lisk transfers from the Ethereum blockchain to their own mainnet (and subsequently increases in value), there are also plans for LSK dapps, sidechains and lightweight contracts that will add to its value.
The best way to invest in Lisk now is via the LSK token, which can be stored on a decentralised exchange (DEX) and traded with other cryptocurrencies. There are several exchanges including Binance that you can trade your Bitcoin or Ethereum for before transferring it to an exchange wallet such as Coinomi. After you have acquired some LSK tokens, the best option is to transfer them back to your exchange wallet. If you are looking for a quicker return then purchasing and holding Bitcoin or Ethereum is still viable but both of these currencies will fall in value if they aren’t used by more people.
Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.