The best cryptocurrency to invest in 2019
Nov 14, 2018
People are asking themselves one question these days: what is the best cryptocurrency to invest in? We are currently observing a great boom in this market. A few years ago, cryptocurrencies were rather the domain of people with extensive technological knowledge.
At that time, mainly people fascinated with cryptocurrencies invested in them. Contrary to today, only a few hundred cryptocurrencies were available.
People are asking themselves one question these days: what is the best cryptocurrency to invest in? We are currently observing a great boom in this market. A few years ago, cryptocurrencies were rather the domain of people with extensive technological knowledge.
At that time, mainly people fascinated with cryptocurrencies invested in them. Contrary to today, only a few hundred cryptocurrencies were available.
However, the market has changed a lot today. The amateurs were replaced by serious investors with large capital. Additionally, the number of cryptocurrencies has also increased. Instead of a few hundred, we now see around 1,650.
Having multiple cryptocurrencies allows you to diversify your wallet, offering plenty of opportunities, but can also be a source of problems.
Invest in cryptocurrencies
As with stocks, real estate, and gold, the decision to invest in cryptocurrencies should be well thought out and made without pressure, tension, or rush. It is important to draw the appropriate conclusions yourself. You are fully responsible for any losses incurred.
Does that mean you don't need help figuring out which cryptocurrency is best to invest in? Absolutely not! In fact, in this situation it is worth leaning on others. Before you invest, you need to understand your investment goals, define them, and then work towards achieving them.
Ask yourself the following questions: "How quickly do I want to make a profit?", "How much money do I want to invest?", Etc. The answers to these questions will give you courage and push you forward when the situation becomes temporarily difficult.
The current situation in the cryptocurrency markets
It all started with Bitcoin in 2009. Litecoin and Ethereum quickly joined Bitcoin and began competing with it for investors in the market. In about nine years, several cryptocurrencies emerged, but none of them enjoyed the same popularity as Bitcoin in 2017. The price has risen almost 4,000 percent, bringing its market capitalization to around $ 450 billion.
About 3,000 new cryptocurrencies have also appeared on the market, and each of them claims to be the best after Bitcoin. Unfortunately, many of these currencies disappear before they are even released into circulation. In fact, 92% of blockchain projects that have been launched since 2015 have failed. Therefore, it is important to carefully consider which cryptocurrency to invest in before making your final decision.
Bitcoin (BTC)
bitcoin logo
First introduced in 2009, Bitcoin is the first cryptocurrency to be implemented. Satoshi Nakamoto, an anonymous person or group of people, sent a Bitcoin technical document to prominent cryptographers and developers in 2008. Here's how Bitcoin was born.
A document titled "Bitcoin: a Peer-to-peer Electronic Cash System" covered all the details and plans for Bitcoin. In January 2009, Satoshi mined the first Bitcoin block, often referred to as the Genesis Block. for which he received 50 coins Mining the Genesis block caused the activation of the Bitcoin network.
Unlike traditional currencies, which rely on the efforts of government and corporate bodies to create currencies, Bitcoin works differently. Bitcoin is a decentralized peer-to-peer protocol based on users creating more units. But this is by no means the first such project.
Nick Szabo referred to the idea of ??a decentralized digital currency called Bit Gold. And Bitcoin can be viewed as a direct implementation of the Bit Gold system. Instead of a private LEDGER kept by an authority in a centralized system, the Bitcoin ledger is public.
This public ledger is called blockchain - blockchain.
Tokens are created and transactions are verified by a running test algorithm and a process called mining. Miners verify transactions by solving a computational puzzle and add a transaction block to the blockchain.
There are only 21 million Bitcoins - that's the limit - and Satoshi owns 1 million of them. The Bitcoin Foundation is currently developing and maintaining the Bitcoin network.
What Makes Bitcoin Attractive in 2019?
Bitcoin is a good option for investors due to its high popularity. Since its inception, Bitcoin has always been a favorite among fans. But recent price increases have also sparked the interest of veterans in the market.
As of now, Bitcoin's market capitalization is $ 127 billion with a unit price of $ 7,500. Of the 21 million bitcoins that exist, 17 million have already been mined
