how many cryptocurrencies are there? is cryptocurrency a good investment?

How many cryptocurrencies are there
"cryptocurrency" by stockcatalog is licensed under CC BY 2.0

Cryptocurrency is the most demanding & booming investment strategy in the financial market? Many people are buying and selling cryptocurrency because it is the most secure and safe way to invest money.

How many cryptocurrencies are there are in the investment market? There are more than 2000 cryptocurrencies are available right now in 2020, and this number is increasing day by day. In 2018, there were around 1600 cryptocurrencies in the market.

Before investing money in cryptocurrency, you have to research different types of cryptocurrency. So, you will get a good return on that particular investment.

1. Bitcoin

As everyone knows that Bitcoin is the most popular virtual currency. Without Bitcoin, we can't believe the cryptocurrency. Bitcoin is the virtual currency that is used to trade cryptocurrency. Bitcoin is the currency from where the decentralized currency started.

At beginning of bitcoin, the price of bitcoin was 0.003 USD & now this price is increased to almost 10,000 USD.

2. Ethereum

how many cryptocurrencies are there - Ethereum
Image source: Google

Ethereum is the second popular decentralized currency platform. If you do not have enough money to buy the bitcoin, then you can choose this cryptocurrency for investment. 

The Ethereum is the Do-It-Yourself platform for Decentralized apps. Etherirum is the platform where we buy & sell cryptocurrency and the cryptocurrency we use here is Ether. 

Some people call bitcoin as digital gold and Litecoin as silver while Ether is digital oil. right now the price of 1 coin of Ethereum is around 200-250 USD

3. XRP - Ripple coin

how many cryptocurrencies are there - XRP Ripple coin
XRP Ripple coin image by QuoteInspector

XRP-Ripple coin is the cheapest and famous cryptocurrency. XRP is quite popular among people because of its low price. XRP's live price is around 0.20 USD which is cents. 

If you don't have so much money and you want to trade in cryptocurrency, then Ripple coin is best for you.

4. Litecoin

how many cryptocurrencies are there - Litecoin
"Litecoin IMG_3335" by btckeychain is licensed under CC BY 2.0
Litecoin is a peer-to-peer cryptocurrency. Peer-to-peer cryptocurrency is the most secure type of cryptocurrency because the transaction time of peer-to-peer is very low.

The price of Litecoin is 45 USD. So, you can consider this as your low budget cryptocurrency. Litecoin was invented to resolve the problem of the bitcoin. As the name itself suggest Litecoin is the lite version of Bitcoin.

5. Tether(USDT)

Tether (USDT) is the most stable crypto coin and you'll find its price around 1 USD at any time. Tether is one of the most popular cryptocurrency. 

Tether is a suitable crypto coin for traders who don't want to take any risk. The main usage of stable coins today is actually on cryptocurrency exchanges.

Using stable coins, traders can trade volatile cryptocurrencies for stable cryptocurrencies when they want to lower their risk.

6. Binance coin

how many cryptocurrencies are there - Binance coin

Binance coin is an exchange token and you often get benefits from this coin, when you use this on the finance platform.

Binance is the most unstable cryptocurrency. If the IEO comes to the Binance platform, the Binance coin increases because the Binance is the must participate in IEO.

When IEO comes to the Binance platform, the Binance coin price usually increases up to 2.5 times of original price.

Is cryptocurrency a good investment?

Is cryptocurrency is a good investment

Is cryptocurrency is a good investment?

Some people basically think the cryptocurrency is fake money. It's not real, But if we compare it to real money, that's locked in the bank. It's like the bank owns our money. 

But when we have virtual currencies like cryptocurrencies, it's not physical money just like a 10 USD note. But, we can actually carry it in our digital wallet.

That's how good it is. It's a matter of privacy and security.

Now, a lot of people will understand that Bitcoin is used for trading. I think that investing in cryptocurrencies is a big investment opportunity which most people can get in on. 

And a Bitcoin, Everyone knows about Bitcoin. I think that more people are familiar with Bitcoin first then they get to know about crypto. 

If you have invested 50 USD in Bitcoin in late 2010. Then now you'll get multiple times the exchange rate of 50 USD that you have invested 10 years ago. 

Now the question arises here is which Crypto is the best for investing and which is suitable for you? 

We have a lot of cryptocurrencies, there are around more than 2000 cryptocurrencies available in 2020 and after reading the above article, you have got an idea about which cryptocurrency is best for you!

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