There is more than 6000 cryptocurrency to choose Top cryptocurrency to invest in . Today in the Crypro market there is a large number of cryptocurrencies is available to invest in. . So one should check various factors before investing in any Cryptocurrency.
As this industry is in early-stage so investment is subjected to risk. There is a huge change in the price of crypto in just a single day. But owing to the market’s immense growth potential, there are other effective strategies to make profits with cryptocurrency
How to Chose Top Cryptocurrency to invest in.
There is a large number of options available in the market to invest in. If you will do an online search they you may so many recommendations for investment. There is no one size fits all formula and deciding which cryptocurrencies to invest in varies depending on the risk appetite of one person versus another
We have considered various factors to find the Top cryptocurrency to invest in. They are as below:
- Adoption Rate
- Track Record
Let’s discuss each factor in detail :
Different Crypto platforms need to be compared on the basis of security and usability.
You need to know about the speed at which transactions occur. Check whether the network can handle this transaction with or not.
You need to also check investment is secure or not, most of the platform blockchain technology to make the transaction transparent and trackable. Blockchain technology makes it harder for a hacker to steal your cryptocurrency.
You need to check the history of the cryptocurrency, nee to know how long it has been around in the market? New Cryptocurrency is not ruled out immediately in the market, so you need to check their history for comparison before investing
Adoption rate means you need to know How many people are investing in the cryptocurrency you are interested in.
When there is a high level of adoption, which means this cryptocurrency has better liquidity. Purchasing, selling or trading will be easier in the future. Good adoption means good return better investment.
You need to keep track of the platform to know How has the company performed during its years in business, for a secure investment.
Stability in prices is a good sign of investment. If you notice that the cryptocurrency is gaining traction and becoming more valuable with time, that’s even better.
Top Cryptocurrency to invest in October 2021
With consideration of the above-discussed factor, a list of top cryptocurrencies to invest in October 2021 has been prepared, which is as below:
Solana is a web-scale blockchain that provides fast, secure, scalable, decentralized apps and marketplaces. The system currently supports 50,000 TPS (Transactions per second) and 400ms Block Times.
2. Ethereum (ETH)
Ethereum is the next generation of blockchain technology which has grabbed eyeballs for being the second-largest cryptocurrency after Bitcoin. ETH is the first blockchain platform that enabled smart contracts and this innovation has spurned a series of ground-breaking solutions.
It is expected that ETH will continue to shine bright and break the market in the future.
3. Dogecoin (DOGE)
The year 2021 has been a year of revelation for Dogecoin. There is a huge increase of 15,000% makes it one of the hot cryptocurrencies to buy before it explodes.
With a huge push by Tesla and SpaceX boss Elon Musk Dogecoin has become a pioneer of a new race of digital assets.
4. Shiba Inu (SHIB) – “Dogecoin killer”
Shiba Inu is another dog-themed cryptocurrency that has impressed and gained the interest of investors. With the whopping increase of 21,000% in just one week makes it one of the best tokens to buy for the long term.
Tron is a blockchain-based decentralized platform that aims to build a free, global digital content entertainment system with distributed storage technology, and allows easy and cost-effective sharing of digital content. It is continuously growing in last 4-5 months, it better option to invest in.
6. CHAINLINK (LINK)
Chainlink expands the capabilities of smart contracts by enabling access to real-world data and off-chain computation while maintaining the security and reliability guarantees inherent to blockchain technology.LINK is among the best coins to invest in this year as this project still arouses the interest of retail and institutional investors alike.
7. Ripple’s XRP
Ripple is not like the other coins as its goal is to make cross-border payments easier. Its price jumped from $0.2 and touched the $0.5 mark in February which helped it to rally its price close to $1 in April.
Its market is growing continuously so it is the best option for investment.
8. Bitcoin (BTC)
Bitcoin is the oldest cryptocurrency so it is a leader, with a price, market cap, and volume that’s much higher than any other investment option. Bitcoin is widely accepted and so it is good to invest in it.
9. Binance Coin (BNB)
Unlike other cryptocurrencies, Binance Coin continued a slow but consistent trend upward. It is accepted by Binance Fintech for trading on its platform. Because of its performance, Binance Coin has proven to be one of the more stable investment options, posing fewer risks.
10. Polkadot (DOT)
PolkaDot cryptocurrency was designed to reward genuine investors and weed out people who are just trading to make money fast. Investors can also invest in this as it is an investor-oriented cryptocurrency.
Top Cryptocurrency to invest in: Final Take
Cryptocurrencies are a new generation of currency and are here to stay.
Which cryptocurrency is the best place to invest your money in the market?
Here are some other things to keep in mind:
- transactions Speed
- The fees for transaction
- The use of your cryptocurrency for regular purchases and bank transfers
You should consider it a long-term investment. If you’re strictly looking to invest without transacting within the network, remember that cryptocurrency isn’t a get-rich-quick scheme.