Categories
Cryptocurrency

How To Buy Alt Coins

Determining how to buy alt coins and how to invest in cryptocurrency can be confusing to new investors. Investing used to be simple: stocks, bonds, and real estate. However, the investment process today is much more complicated. As a result, there are an infinite number of choices that are difficult to understand. One of the new investment choices available to investors is cryptocurrency.

It seems clear that the future is bright for Ethereum and other alt coins. We discuss why cryptocurrencies deserve serious consideration and how to buy alt coins. In addition, we talk about some other options for cryptocurrency investing.where to buy alt coins

Bitcoin Critical Banks

The cryptocurrency Bitcoin is a relative newcomer to the financial investment space. Since Bitcoin has only been around since 2009, it has taken a lot of criticism and flak from traditional Wall Street investors. However, many investors who doubted Bitcoin in the past are beginning to come around to the idea of electronic currency and virtual store of value that Bitcoin offers. As a result, demand has surged for Bitcoin in recent years.

Traditionally, banks such as JP Morgan Chase have been hyper critical of cryptocurrency. Jaime Dimon, JP Morgan Chase’s front man, has led the criticism of Bitcoin in recent years. Other financiers, such as Warren Buffet spewed the same vitriol toward Bitcoin. Buffet famously called Bitcoin “rat poison.”

“Cryptocurrencies basically have no value and they don’t produce anything. They don’t reproduce, they can’t mail you a check, they can’t do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person’s got the problem. In terms of value: zero.” – Warren Buffet on CNBC, February 2020

Since Warren Buffet called cryptocurrency “rat poison,” Bitcoin price has skyrocketed!

Of course, when the “Oracle of Omaha” (Warren Buffet) made the disparaging remarks about crypto, Bitcoin was trading around $10,000. Apparently, his comments only emboldened contrarian investors because Bitcoin has continually risen in price since then, going as high as $60,000 in the Spring of 2021. Bitcoin is currently trading around $36,000. So, the question is, where can I find a crypto friendly bank?

Crypto Friendly Bank

Most of the bank heads and Wall Street big wigs have since backed from their critical positions toward cryptocurrency. As a result, some US financial institutions are now becoming a crypto friendly bank. However, keep in mind that many banks are still unsure about Bitcoin and have not begun participating. In addition, some banks only offer Bitcoin investment to high-net-worth clients.Best Crypto To Buy Today

A crypto friendly bank offers options and future trading only. Some offer Bitcoin custody accounts. As a result, a crypto friendly bank is still limited in number. Here is our crypto friendly bank list:

  • UBS
  • HSBC
  • BNP Paribas
  • Deutsche Bank
  • Credit Suisse
  • Bank of America
  • Citigroup
  • Morgan Stanley
  • JP Morgan Chase
  • Goldman Sachs

More on How to Buy Alt Coins

As previously stated, the learning how to buy alt coins using traditional banks may not be an option for the average investor. However, for most investors in the United States, the easiest way for how to buy alt coins is using Coinbase. The Coinbase exchange offers between 70-100 different cryptocurrencies to buy, depending upon which state you live in. It has made things simple and easy to use for investors. In addition, Coinbase offers two sister websites: Coinbase and Coinbase Pro. Coinbase is for beginners and people who like to keep things simple. Furthermore, Coinbase Pro allows those with trading experience or a little more technical background to tweak their trades a little more. On the other hand, Coinbase, which is used by beginners, has fees that vary between 1.5% up to 3.99%, depending on your payment method.

One newer method for how to buy alt coins, which may actually be cheaper than Coinbase is Swan. What makes Swan different is that it simplifies buying bitcoin. You simply link your bank account, set up a weekly, prepaid plan to buy bitcoin each week and then enjoy 0.99% fees. The only drawback to Swan is that it is newer than Coinbase and doesn’t have the history that Coinbase has. However, it seems like a promising way to buy on the cheap.

There are several cryptocurrency exchanges in the United States that allow you to buy Bitcoin and other cryptocurrencies by simply linking a bank account to your crypto account. And there is no special technical knowledge needed to open an account and buy Bitcoin. Other large American cryptocurrency exchanges include Kraken and Gemini.

Using Decentralized Exchanges – How to Buy Alt Coins

Honestly, if you decide to buy alt coins on a decentralized exchange, it can get a little complicated. Luckily, many exchanges have made the process as simple as possible. For example, let’s say that you want to use the Bancor exchange to obtain alt coins. You might then send some Ethereum that you purchased on Coinbase to your Bancor account. This Ethereum would then be used to obtain other tokens or coins on the Bancor network. Why use a decentralized exchange? The answer is that many common exchanges may not offer the new or unusual tokens or coins that you are looking for. However, decentralized exchanges like Hex, Bancor, Kyber Swap, Loopring, Uniswap and many more.

Check out the DefiPrime website to explore all the possibilities with decentralized finance exchanges.ethereum cryptocurrency

Ethereum: A Block Chain Project That Uses Smart Contracts to Power Other Projects

Ethereum is an open-source, decentralized block chain project that is known for its smart contracts. Furthermore, it provides open access to money, via the Ether cryptocurrency coin (ETH), and technology, exemplified by the thousands of applications that are operating on the Ethereum network. The ETH coin of Ethereum is second only to bitcoin in market capitalization.

Like Bitcoin, Ethereum is a Proof of Work consensus system. This means that powerful computers all over the world are continuously solving complexed equations to build blocks on the Ethereum block chain. Whichever machine or miner solves the problem quickest, completes the block and receives a reward as payment: ETH coin.

Although Ethereum shares some features with Bitcoin, such as being able to make peer-to-peer transactions, they serve different purposes and audiences. Moreover, Bitcoin was the original decentralized payment system that didn’t require a middleman bank to conduct payments. Although Ethereum is used for payment sometimes, its primary purpose is to serve as the core block chain on which newer projects operate.

Ethereum uses a payment system for ETH. In addition, it implements smart contracts which allows entirely new projects to run on top of the Ethereum block chain. For example, in November 2017, the decentralized application “CryptoKitties” was launched. It is a digital collecting and trading app of virtual felines that works on Ethereum.

Reasons Why Ethereum May Be an Awesome Alt Coin

  • Industry leader in smart contracts
  • Widespread use and adoption
  • $120 Billion market capitalization
  • Home of block chain decentralized applications (dapps)
  • Well established decentralized payment network
  • Serves as the block chain base for hundreds of projects
  • Independence from Banks
  • Borderless Payments
  • Low Fees

Other Cryptocurrencies to Consider

Here are some other cryptocurrencies that are worth looking at more deeply. Although Bitcoin is the most dominant and most secure cryptocurrency, there are many other cryptocurrencies that have strong security and strong use case value. A cryptocurrency investment portfolio may include other cryptocurrencies.Ada price prediction

Cardano (ADA)

Named after Gerolamo Cardano, a 16th century Italian polymath, the Cardano project began in 2015. It is an open-source software project. Moreover, it innovates the design of cryptocurrency. Cardano has a long-term plan called the Road Map. Cardano’s most notorious feature is its implementation of peer-reviewed research. Research and peer review are a part of project development. It has a $3 Billion market capitalization.

A team of academics, researchers and developers managed Cardano. They focus on solving cryptocurrency problems. Moreover, Cardano doesn’t focus on one use case scenario for cryptocurrency; instead, it appears to be tacking many problems at once, such as currency, proof of stake, smart contracts, scalability, security and even scripting. In addition, Cardano uses the delegated proof-of-stake method to maintain the network functionality. This is different because it is more efficient for electricity consumption. Cardano is one to watch if you are looking for a cryptocurrency to invest in.

Monero (XMR)

Created in 2014 from a fork in the Bitcoin block chain, Monero is a privacy coin. Monero uses what it calls an “obfuscated public ledger” which makes transactions of Monero private. Moreover, Monero is a tested privacy payment method. The project has longevity and a working record of privacy.

Monero gets a bad reputation at times. For example, it has been used on the dark web as an illegal payment method. However, it should be noted that paper currency such as the US Dollar can also be used for illegal purposes. Privacy for legal transactions is an important aspect for money and Monero is the foremost privacy cryptocurrency on the web. Monero is cryptocurrency to invest in for those who love privacy.

Chainlink (LINK)

Developed in 2017, Chainlink is a decentralized network that connects smart contracts with real world data. Furthermore, the Chainlink decentralized oracle network is operated by node operators. In addition, operators that maintain nodes are paid LINK cryptocurrency. The nodes connect the system like links in a chain. Chainlink runs on the Ethereum network and plays a critical role in execution of smart contracts. It is one of the new rising stars of the cryptocurrency revolution and an important cryptocurrency to invest in.

Polkadot (DOT)

Another new rising star in the cryptocurrency space is Polkadot. The Web3 Foundation created Polkadot. Its primary function is to facilitate the operation of block chains together. The DOT coin functions in three ways: staking, bonding, and networking. Finally, Polkadot contains special tools like specialization, scale and inoperability which act as catalysts between block chains. As a result, it may be one of the best crypto to buy today.

Pros of Owning Cryptocurrency

Owning Cryptocurrencies May Save A Failing System

Owning cryptocurrencies requires that you have a future vision that is radically different than our current banking system. In addition, cryptocurrency is inherently risky and volatile for investors. However, many believe that cryptocurrency investment is a vote for monetary freedom and independence from governments.

Currently, many countries throughout the world are struggling with debt. As sovereign debt climbs higher in the United States, there doesn’t appear to be an effort to keep the financial system from boiling over. In addition, inflation for many people has become a problem and prices are going higher. Many investors are looking for an alternative investment from an overpriced stock market and real estate market. Cryptocurrency may be a safer place to invest.

Bitcoin doesn’t require using a bank; the bitcoin holder is the bank. Making borderless payments between friends became easier and more private. In addition, Bitcoin is deflationary, with only 21 million Bitcoins available for use. And, if you are starting to have doubts about government money printing and overspending, then Bitcoin is an obvious candidate for safe-haven status. Clearly Bitcoin is one of the best cryptocurrencies to buy today.

Future Predictions of Ethereum Prices

Reputable Investors Foresee Exponential Growth in Bitcoin and Ethereum Markets

It seems clear that in 2021, Bitcoin and Ethereum have begun the next phase of expansion and adoption. As a result, the price of both cryptocurrencies will likely go much, much higher. In addition, these may be the best crypto to buy today. However, there are other good choices as well.

Many investors are optimistic about the Ethereum future price. Because Ethereum’s market capitalization is only $375 Billion, there is much room for growth. Continual adoption of Ethereum by institutional investors could easily lead to a $1 Trillion market capitalization, equating to a $7,500 ETH price. Investors such as Nigel Green and Blockfyre co-founder Simon Dedic predicted much higher prices ($2,500 – $9,000) for Ethereum in the future.

Several of the investors mentioned are worth Billions cumulatively and have a clear track record of investing in markets. They have been advising investors of which is the best crypto to buy today for years. As a result, their predictions are reputable and should be given serious consideration.

Bitcoin Exchanges and More Information

Hopefully this article has helped you make a better decision about how to buy alt coins. There are many exchanges that can be used to purchase cryptocurrency. Binance, Gemini, Kraken, Coinbase, as well as DeFi exchanges. Please do your research if you decide to invest. There are many scams in the crypto industry that are searching for an easy mark. If you want to learn more about Bitcoin and cryptocurrency, there are more articles by Piggy Bank Coins below.

Wrap Up: How to Buy Alt Coins

As you can see, there are many choices for how to buy alt coins. Cryptocurrency is a growing industry with a bright future. Learning how to buy alt coins can be as simple as logging into a bank account and clicking a mouse. Blockchain technology is here to stay and will be a part of the growing tech revolution. As a result, cryptocurrency should play an important part in everyone’s investment strategy.

Read More:

Best Altcoins for 2021

Cryptocurrencies to Invest In

Cheapest Way to Buy Bitcoin

Cryptocurrency for Dummies

Prediction of Bitcoin Price

The Fastest Growing Cryptocurrency

Best Cryptocurrency

Bitcoin

Top 10 Cryptocurrency

How to Become a Millionaire from Nothing

Cardano ADA News

One World Currency

Disclaimer:

It is important to note that Piggy Bank Coins does not provide financial advice. We don’t endorse or recommend any financial investments. Instead, we provide information for educational purposes to those seeking knowledge regarding personal finance. However, in the spirit of transparency, note that the author is an investor in cryptocurrencies, precious metals, and some equities.

In addition, The Federal Trade Commission (FTC) requires that Piggy Bank Coins disclose to readers that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. Moreover, we try our best to keep things fair and balanced, to help you make the best choice for you.

 

Categories
Cryptocurrency

Trusted Bitcoin Investment Sites

In this article we discuss the trusted bitcoin investment sites. In addition, we talk about cryptocurrency investment options, trusted bitcoin exchanges, recommendations for cryptocurrency projects you should be watching and explanations of some terminology in the crypto industry.

If you are thinking about investing in Bitcoin, there’s never been a better time. For example, Bitcoin has been increasing in value for more than 12 years and there are many other cryptocurrencies that may be worth looking at. In this article we will share some of the rusted bitcoin investment sites as well as discuss cryptocurrency and blockchain.

Bitcoin price prediction 2024Primarily, we will discuss the cryptocurrency Bitcoin. With an approximately $800 Billion market capitalization, Bitcoin is the oldest and most trusted cryptocurrency investment. In fact, understanding Bitcoin is fundamental to understanding cryptocurrencies and cryptocurrency investment.

However, prior to getting started talking about cryptocurrency investment and trusted bitcoin investment sites we should understand some cryptocurrency terminology. For example, we’ll look at the terms “Bitcoin”, “cryptocurrency”, “block chain.”

Bitcoin Critical Banks

The cryptocurrency Bitcoin is a relative newcomer to the financial investment space. Since Bitcoin has only been around since 2009, it has taken a lot of criticism and flak from traditional Wall Street investors. However, many investors who doubted Bitcoin in the past are beginning to come around to the idea of electronic currency and virtual store of value that Bitcoin offers. As a result, demand has surged for Bitcoin in recent years.

Traditionally, banks such as JP Morgan Chase have been hyper critical of cryptocurrency. Jaime Dimon, JP Morgan Chase’s front man, has led the criticism of Bitcoin in recent years. Other financiers, such as Warren Buffet spewed the same vitriol toward Bitcoin. Buffet famously called Bitcoin “rat poison.”

“Cryptocurrencies basically have no value and they don’t produce anything. They don’t reproduce, they can’t mail you a check, they can’t do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person’s got the problem. In terms of value: zero.” – Warren Buffet on CNBC, February 2020

Since Warren Buffet called cryptocurrency “rat poison,” Bitcoin price has sky rocketed!

Of course, when the “Oracle of Omaha” (Warren Buffet) made the disparaging remarks about crypto, Bitcoin was trading around $10,000. Apparently, his comments only emboldened contrarian investors because Bitcoin has continually risen in price since then, going as high as $60,000 in the Spring of 2021. Bitcoin is currently trading around $36,000. So, the question is, where can I find Trusted bitcoin investment sites?

Trusted Bitcoin Investment Sites

Most of the “talking heads” on Wall Street have since backed off of their critical attitudes toward cryptocurrency. Furthermore, many experts in the financial industry realize that cryptocurrencies such as Bitcoin are here to stay. As a result, some US banking institutions are now becoming trusted bitcoin investment sites. However, keep in mind that many banks are still unsure about Bitcoin and have not begun participating. In addition, some banks only offer Bitcoin investment to high-net-worth clients.

Some trusted bitcoin investment sites offer options and future trading only. Some offer Bitcoin custody accounts. As a result, trusted bitcoin investment sites are still limited in number. Here is a list of mainstream banks that have begun offering investment into cryptocurrency:

  • UBS
  • HSBC
  • BNP Paribas
  • Deutsche Bank
  • Credit Suisse
  • Bank of America
  • Citigroup
  • Morgan Stanley
  • JP Morgan Chase
  • Goldman Sachs

More Ways to Buy Using Trusted Bitcoin Investment Sites

As previously stated, the aforementioned traditional banks may not be an option for the average investors. However, for most investors in the United States, the easiest way to buy Bitcoin is using Coinbase. It has made things simple and easy to use for investors. In addition, Coinbase offers two sister websites: Coinbase and Coinbase Pro. Coinbase is for beginners and people who like to keep things simple. Furthermore, Coinbase Pro allows those with trading experience or a little more technical background to tweak their trades a little more. On the other hand, Coinbase, which is used by beginners, has fees that vary between 1.5% up to 3.99%, depending on your payment method.

Bitcoin Price ForecastOne newer method that may actually be cheaper than Coinbase is Swan. What makes Swan different is that it simplifies buying bitcoin. You simply link your bank account, set up a weekly, prepaid plan to buy bitcoin each week and then enjoy 0.99% fees. The only drawback to Swan is that it is newer than Coinbase and doesn’t have the history that Coinbase has. However, it seems like a promising way to buy on the cheap.

There are a number of cryptocurrency exchanges in the United States that allow you to buy Bitcoin and other cryptocurrencies by simply linking a bank account to your crypto account. And there is no special technical knowledge needed to open an account and buy Bitcoin. Other large American cryptocurrency exchanges include Kraken and Gemini.

What is Bitcoin (BTC)?

Bitcoin is a Peer-to-Peer Cryptocurrency Payment System Founded in 2009

Bitcoin is an open-source, block chain-based technology that was designed as a peer-to-peer payment system. It is designed to be a decentralized electronic payment method that can be conducted semi-anonymously among individuals. As well, Bitcoin is digital cash. The other intent of Bitcoin is to solve the double spend problem that had been encountered in the past with electronic currencies.

It uses block chain technology to maintain its function. First, for users to send and receive bitcoin, the block chain depends on miners. Second, miners use special computers to complete complex calculations which build blocks on the block chain. As a reward, miners are paid in Bitcoin upon completion of each block.

The world first learned about Bitcoin in 2009. It is unknown who invented bitcoin; however, a developer named Satoshi Nakamoto (probably a pseudonym) released a 9-page white paper entitled, “Bitcoin: A Peer-to-Peer Electronic Cash System.” As a result, the Bitcoin white paper describes Bitcoin’s purpose and how it works.

It was the first cryptocurrency to experience widespread use and adoption. However, Bitcoin’s use case has evolved over the years from a peer-to-peer payment method to a store of value model. For instance, many Bitcoin users hold bitcoin much like you would hold silver or gold in an investment portfolio.

What is Cryptocurrency?

Cryptocurrency is a digital asset. Payments occur between individuals on the internet. In addition, the best cryptocurrency uses cryptography to secure transactions on a network. Block chain technology is part of what makes the network secure. Miners use powerful computers to solve advanced equations in order to earn Bitcoin or other cryptocurrencies. Finally, mining makes the distributed ledger network secure. In addition, it ensures that transactions are complete. As a result, no one can cheat the system.

What is Block Chain?

The block chain stores data on a public database. The blocks of information include transaction data, participant data and distinguishing data. Each block of data stores thousands of transactions under cryptographic lock and key. A network of computers operates the blockchain. They make the network run and keep it secure by solving algorithmic hashes. The network computers earn cryptocurrency for their work. The bitcoin block chain technology uses a distributed ledger. Bitcoin’s network security hinges on the distributed ledger that the network participates in.

What is the Best Cryptocurrency?

The best cryptocurrency is the most secure, has the strongest user base, has been operating the longest. In addition, it has the highest capitalized market. By this standard Bitcoin is the best cryptocurrency.

Bitcoin Security

The Security of Bitcoin is Based Upon a Strong User Network

The security of the Bitcoin network has proven itself time and again. Over the 12-year history of Bitcoin there have been many challenges to the network that could have spelled failure. However, Bitcoin lives on. However, it’s important to note that many of the most infamous Bitcoin hacks have been of the exchanges that transact Bitcoin. As a result, experts have faulted the exchanges lack of security for the hacks and not the Bitcoin network itself.

bitcoin friendly bankBlock chain networks like Bitcoin handle transactions of cryptocurrency on a distributed ledger. This means that the mining computers that run the network share information on the ledger and ultimately, must reach a consensus. As a result, the more computer users that operate on the network means the ledger becomes more distributed among users. This inherently creates security and decreases the chances of one hacker group to gain control of the network. This also ensures that Bitcoin is a solid cryptocurrency investment.

One other security factor is the price of Bitcoin. Bitcoin’s network was fragile and was new. From the start, Bitcoin had few users, low capitalization and a weaker network. However, currently Bitcoin price is approximately $30,000. Hacking the Bitcoin network today is nearly impossible. The network is impenetrable without $Billions in capital.

Community Support

Bitcoin has a long history of community support. It has a growing community and network of individuals who believe in the project and who contribute to Bitcoin’s success. The Bitcoin community includes people like crypto enthusiasts, coders, technology developers, Bitcoin users and block chain startups. Ideas are shared on Reddit and Telegram, two popular Bitcoin communities.

$1 Trillion Market Capitalization of Bitcoin

The total market capitalization of Bitcoin is around $800 Billion and growing. Bitcoin has always been the dominant cryptocurrency in the market and remains so. Moreover, its market dominance is approximately 40% against the other cryptocurrencies. Additionally, approximately $6 out of every $10 in the cryptocurrency market is used to purchase Bitcoin.

Bitcoin Continues to Grow

There are a couple of things to understand about Bitcoin growth. First, Bitcoin is growing in popularity and use worldwide. Users are adopting Bitcoin as a store of value like gold and using it as a payment method in places where banks don’t exist. Second, Bitcoin is growing in price.

When users began mining Bitcoin on laptops in 2009, it had little value. Yet, today one Bitcoin can be exchanged for approximately $50,000! In 2020, billions of Dollars of institutional money began to flow into cryptocurrency investment. People world-wide have been converting dollars to bitcoins for years.

Examples of Institutional Money Investments in Bitcoin (converting dollars to bitcoins):

Other Cryptocurrencies to Consider

Here are some other cryptocurrencies that are worth looking at more deeply. Although Bitcoin is the most dominant and most secure cryptocurrency, there are many other cryptocurrencies that have strong security and strong use case value. A cryptocurrency investment portfolio may include other cryptocurrencies.

Ethereum (ETH)

Ethereum price prediction todayA Block Chain Project That Uses Smart Contracts to Power Other Projects

Ethereum is an open-source, decentralized block chain project. Smart contracts are one thing for which Ethereum is known. It provides open access to money, via the Ether cryptocurrency coin (ETH), and technology, exemplified by the thousands of applications that are operating on the Ethereum network. The ETH coin of Ethereum is second only to bitcoin in market capitalization.

Ethereum uses a payment system for ETH (Ethereum token). In addition, it implements smart contracts and allowing whole new projects to run on top of the Ethereum block chain. For example, “CryptoKitties” was launched in November 2017. CryptoKitties was a decentralized application. It is a digital collecting and trading app of virtual felines that works on Ethereum.

Upside of Owning Cryptocurrency

Owning Cryptocurrencies Requires Belief That They Will Save a Failing System

Owning cryptocurrencies requires that you have a future vision that is radically different than our current banking system. In addition, cryptocurrency is inherently risky and volatile for investors. However, many believe that cryptocurrency investment is a vote for monetary freedom and independence from governments.

Bitcoin doesn’t require using a bank; the bitcoin holder is the bank. Making borderless payments between friends became easier and more private. In addition, Bitcoin is deflationary, with only 21 million Bitcoins available for use. And, if you are starting to have doubts about government money printing and overspending, then Bitcoin is an obvious candidate for safe haven status.

Bitcoin Exchanges and More Information

Hopefully this article has helped you understand cryptocurrency investment. Several exchanges buy and sell cryptocurrency. Binance, Gemini, Kraken, Coinbase and so many more. Moreover, please do your research if you decide to move forward with cryptocurrency investment. There are many scams in the crypto industry that are searching for an easy mark. Finally, if you want to learn more about Bitcoin and cryptocurrency, one place to start might be Investopedia.

Other Helpful Cryptocurrency Websites

There are several other cryptocurrency websites that provide data and information, as well as analysis on cryptocurrencies. Websites like these help crypto investors make informed decisions about market sentiment, price direction and technical strength.

Future Predictions

It seems clear that in 2021-2022, Bitcoin will begin its next phase of expansion and adoption. As a result, Bitcoin’s price will likely go much, much higher.

Anthony Pompliano and Max Keiser, two well-known investors in the Bitcoin space believe that Bitcoin price will exceed $100,000 in the next few years. Investors like Mike Novogratz and Chamath Palihapitiya believe Bitcoin price will go higher. In fact, their predictions are $400,000 and $1,000,000, respectively. The investors mentioned are millionaires and billionaires. They clearly understand money and markets. As a result, their predictions are very serious.

Wrap Up of Trusted Bitcoin Investment Sites

Hopefully this article has helped you better understand bitcoin, cryptocurrencies and the trusted bitcoin investment sites. Although there are many ways to purchase bitcoin, the cheapest way to buy bitcoin is by getting it on Coinbase Pro. Coinbase is a trusted, secure source and is definitely the cheapest way to buy bitcoin. It’s also quite easy to buy Bitcoin.

Read More:

Bitcoin Prediction 2023

Who Owns The Most Bitcoin?

Cryptocurrency For Dummies

The Fastest Growing Cryptocurrency

Best Cryptocurrency

Bitcoin

Bitcoin Daily Predictions

Top 10 Cryptocurrency

How to Become a Millionaire from Nothing

Disclaimer:

It is important to note that Piggy Bank Coins does not provide financial advice. We don’t endorse or recommend any financial investments. Instead, we provide information for educational purposes to those seeking knowledge regarding personal finance. However, in the spirit of transparency, note that the author is an investor in cryptocurrencies, precious metals and some equities.

In addition, The Federal Trade Commission (FTC) requires that Piggy Bank Coins disclose to readers that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. Moreover, we try our best to keep things fair and balanced, in order to help you make the best choice for you.

 

Categories
Cryptocurrency

Best Cryptocurrency To Invest In 2022

Knowing the best cryptocurrency to invest in 2022 and how to invest in cryptocurrency can be challenging to new investors. Investing used to be simple: stocks, bonds and real estate. However, the investment process today is much more complicated. As a result, there are an infinite number of choices that are difficult to understand. One of the new investment choices available to investors is cryptocurrency.

Although we cannot advise you on what you should invest in, we will share information about the best cryptocurrency to invest in 2022, what cryptocurrency is, the pros and cons of owning cryptocurrencies and some future predictions.

It seems clear that the future is bright for Bitcoin and Ethereum. We will discuss why these two cryptocurrencies deserve serious consideration as the best cryptocurrency to invest in 2022. In addition, we talk about some other options for cryptocurrency investing.

What is Cryptocurrency?

Cryptocurrency is a digital asset that can be exchanged. It is a payment method between individuals. It is exchanged among individuals on the internet. Furthermore, cryptocurrencies use cryptography to secure transactions on a block chain network. Miners use powerful computers to solve advanced equations in order to earn Bitcoin or other cryptocurrencies. Finally, mining makes the distributed ledger network secure.

The first successful cryptocurrency was Bitcoin. It was introduced to the world in January 2009. After Bitcoin came Ethereum. If Bitcoin is king, then Ethereum would be the queen. These two cryptocurrencies may be the best cryptocurrency to invest in 2022 in our lifetime. However, all investments come risks and you must do your own research to determine how to invest personally.

Bitcoin: A Peer-to-Peer Electronic Payment System Created by Satoshi Nakamoto

Bitcoin is an open-source, block chain-based technology that was designed as a peer-to-peer payment system. It is designed to be a decentralized electronic payment method. Payments can be conducted semi-anonymously among individuals. Bitcoin is digital cash. Many consider Bitcoin to be the best cryptocurrency to invest in 2022.

Furthermore, it uses block chain technology to maintain its function. In order for users to send and receive bitcoin, the block chain depends on miners. Miners use computers to complete complex calculations. The Bitcoin miners build blocks on the block chain. As a reward, the miners receive Bitcoin as payment.

Satoshi Nakamoto created Bitcoin in 2009. He wrote a 9-page white paper entitled, “Bitcoin: A Peer-to-Peer Electronic Cash System.” Bitcoin was the first cryptocurrency to experience widespread use and adoption. However, its use case has evolved over the years from a peer-to-peer payment method to a store of value model. Many Bitcoin users hold bitcoin much like you would hold silver or gold in an investment portfolio.

Why Bitcoin May Be the Best cryptocurrency to invest in 2022

  • First cryptocurrency to experience widespread use and adoption
  • $1 Trillion market capitalization
  • Use case as a peer-to-peer payment method
  • Serves as a store of value much like silver or gold
  • Deflationary money: Limited supply of only 21 million Bitcoins
  • Replaces the US Dollar as World Reserve Currency
  • Privacy
  • Independence from Banks
  • Borderless Payments
  • Low Fees
  • Meets all the requirements of the definition of money

Ethereum: A Block Chain Project That Uses Smart Contracts to Power Other Projects

Ethereum is an open-source, decentralized block chain project that is known for its smart contracts. For example, it provides open access to money, via the Ether cryptocurrency coin (ETH), and technology, exemplified by the thousands of applications that are operating on the Ethereum network. The ETH coin of Ethereum is second only to bitcoin in market capitalization.

Like Bitcoin, Ethereum is a Proof of Work consensus system. This means that powerful computers all over the world are continuously solving complexed equations in order to build blocks on the Ethereum block chain. Whichever machine or miner solves the problem quickest, completes the block and receives a reward as payment: ETH coin.

Although Ethereum shares some features with Bitcoin, such as being able to make peer-to-peer transactions, they serve different purposes and audiences. Moreover, Bitcoin was the original decentralized payment system that didn’t require a middleman bank to conduct payments. Although Ethereum is used for payment sometimes, its primary purpose is to serve as the core block chain on which newer projects operate.

Ethereum uses a payment system for ETH. In addition, it implements smart contracts which allows entirely new projects to run on top of the Ethereum block chain. For example, in November 2017, the decentralized application “CryptoKitties” was launched. It is a digital collecting and trading app of virtual felines that works on Ethereum.

Reasons Why Ethereum May Be the Best Cryptocurrency to Invest in 2022

  • Industry leader in smart contracts
  • Widespread use and adoption
  • $440 Billion market capitalization
  • Home of block chain decentralized applications (dapps)
  • Well established decentralized payment network
  • Serves as the block chain base for hundreds of projects
  • Independence from Banks
  • Borderless Payments
  • Low Fees

Other Cryptocurrencies to Consider

Here are some other cryptocurrencies that are worth looking at more deeply. Although Bitcoin is the most dominant and most secure cryptocurrency, there are many other cryptocurrencies that have strong security and strong use case value. A cryptocurrency investment portfolio may include other cryptocurrencies.

Cardano (ADA)

Named after Gerolamo Cardano, a 16th century Italian polymath, the Cardano project began in 2015. It is an open-source software project. Moreover, it innovates the design of cryptocurrency. Cardano has a long-term plan called the Road Map. Cardano’s most notorious feature is its implementation of peer-reviewed research. Research and peer review are a part of project development. It has a $30 Billion market capitalization.

A team of academics, researchers and developers managed Cardano. They focus on solving cryptocurrency problems. Moreover, Cardano doesn’t focus on one use case scenario for cryptocurrency; instead, it appears to be tacking many problems at once, such as currency, proof of stake, smart contracts, scalability, security and even scripting. In addition, Cardano uses the delegated proof-of-stake method to maintain the network functionality. This is different because it is more efficient for electricity consumption. Cardano is definitely one to watch if you are looking for a cryptocurrency to invest in.

Monero (XMR)

Created in 2014 from a fork in the Bitcoin block chain, Monero is a privacy coin. Monero uses what it calls an “obfuscated public ledger” which makes transactions of Monero private. Moreover, Monero is a tested privacy payment method. The project has longevity and a working record of privacy.

Monero gets a bad reputation at times. For example, it has been used on the dark web as an illegal payment method. However, it should be noted that paper currency such as the US Dollar can also be used for illegal purposes. Privacy for legal transactions is an important aspect for money and Monero is the foremost privacy cryptocurrency on the web. Monero is cryptocurrency to invest in for those who love privacy.

Chainlink (LINK)

Developed in 2017, Chainlink is a decentralized network that connects smart contracts with real world data. Furthermore, the Chainlink decentralized oracle network is operated by node operators. In addition, operators that maintain nodes are paid LINK cryptocurrency. The nodes connect the system like links in a chain. Chainlink runs on the Ethereum network and plays a critical role in execution of smart contracts. It is one of the new rising stars of the cryptocurrency revolution and an important cryptocurrency to invest in.

Polkadot (DOT)

polkadot cryptocurrency

Another new rising star in the cryptocurrency space is Polkadot. The Web3 Foundation created Polkadot. Its primary function is to facilitate the operation of block chains together. The DOT coin functions in three ways: staking, bonding and networking. Finally, Polkadot contains special tools like specialization, scale and inoperability which act as catalysts between block chains.

Binance Coin (BNB)

Binance coin is a utility token. It is used to pay for Binance exchange fees. In addition, it also helps power the Binance decentralized exchange (DEX). The Binance coin is a deflationary coin. It is burned frequently by Binance. Part of the reason that BNB is so popular and successful is due the success of the Binance exchange. Binance is definitely a strong consideration when looking for one of the top 5 altcoins 2021.

Bonus: More Top Cryptocurrency Altcoins 2022

The cryptocurrencies discussed so far have demonstrated longevity, strong communities and real use cases for their growth and development. We believe they are legitimate projects and not $h*t coins. Here are a few more cryptocurrency altcoins that are a little riskier, but offer more growth (and profit) potential (Remember: do your own research before investing).

  • Elrond (EGLD)
  • Aave (AAVE)
  • Uniswap (UNI)
  • Oasis Network (ROSE)
  • Ramp (RAMP)
  • Synthetix (SNX)
  • Zilliqa (ZIL)
  • VeChain (VET)
  • Kyber Network (KYB)

Note: Some of these altcoins may be more difficult to obtain, especially for US Citizens. Again, these are high risk, and you can easily lose money here. Buyer beware.

Pros of Owning Cryptocurrency

Owning Cryptocurrencies May Save A Failing System

Owning cryptocurrencies requires that you have a future vision that is radically different than our current banking system. In addition, cryptocurrency is inherently risky and volatile for investors. However, many believe that cryptocurrency investment is a vote for monetary freedom and independence from governments.

Currently, many countries throughout the world are struggling with debt. As sovereign debt climbs higher in the United States, there doesn’t appear to be an effort to keep the financial system from boiling over. In addition, inflation for many people has become a problem and prices are going higher. Many investors are looking for an alternative investment from an overpriced stock market and real estate market. Cryptocurrency may be a safer place to invest.

Bitcoin doesn’t require using a bank; the bitcoin holder is the bank. Making borderless payments between friends became easier and more private. In addition, Bitcoin is deflationary, with only 21 million Bitcoins available for use. And, if you are starting to have doubts about government money printing and overspending, then Bitcoin is an obvious candidate for safe-haven status. Clearly Bitcoin is one of the best cryptocurrencies to buy right now.

Cons of Owning Cryptocurrency

Fraud, Theft and Volatility Are Still Issues with Cryptocurrencies

There are some cons to owning cryptocurrency. In addition, cryptocurrency and the block chain space are a very new industry. Bitcoin is only 11 years old and there have been growing pains in the space. First, cryptocurrency has been vulnerable to fraud in the past. For example, $800 Million worth of Bitcoin was stolen from “Mt. Gox” crypto exchange in 2014. Second, scams have been a problem in the industry, especially with new projects. Finally, price volatility has frightened away many new potential Bitcoin users.

Best Cryptocurrency to Invest in 2022

Currently, in 2022, Bitcoin is trading around $50,000 per Bitcoin. There are many analysts who believe it could go much higher. But even more importantly, Bitcoin and other cryptocurrency may break the banking chains that imprison us today. And it’s no longer a conspiracy theory to discuss cryptocurrency. Respected investors are taking it seriously like never before.

Future Predictions of Bitcoin and Ethereum Prices

Reputable Investors Foresee Exponential Growth in Bitcoin and Ethereum Markets

It seems clear that in 2021, Bitcoin and Ethereum have begun the next phase of expansion and adoption. As a result, the price of both cryptocurrencies will likely go much, much higher. In addition, these may be the best cryptocurrency to invest in 2022. However, there are other good choices as well.

Anthony Pompliano and Max Keiser, two well-known investors in the Bitcoin space believe that Bitcoin price will exceed $100,000 in the next few years. Other investors like Mike Novogratz and Chamath Palihapitiya believe Bitcoin price is destined to go even higher to levels like $400,000 and $1,000,000, respectively.

As for Ethereum, investors are optimistic about its future price as well. Because Ethereum’s market capitalization is only $40 Billion, there is much room for growth. Continual adoption of Ethereum by institutional investors could easily lead to a $1 Trillion market capitalization, equating to a $7,500 ETH price. Investors such as Nigel Green and Blockfyre co-founder Simon Dedic predicted much higher prices ($2,500 – $9,000) for Ethereum in the future.

Several of the investors mentioned are worth Billions cumulatively and have a clear track record of investing in markets. Furthermore, they have been advising investors of which is the best cryptocurrency to invest in 2022 for years. As a result, their predictions are very serious.

Bitcoin Exchanges and More Information

Hopefully this article has helped you make a better decision about the best cryptocurrency to invest in 2022. There are many exchanges that can be used to purchase cryptocurrency. Binance, Gemini, Kraken, Coinbase and so many more. Please do your research if you decide to invest. There are many scams in the crypto industry that are searching for an easy mark. If you want to learn more about Bitcoin and cryptocurrency, there are more articles by Piggy Bank Coins below. Thanks for reading and good luck!

Read More:

Best Altcoins for 2021

Cryptocurrencies To Invest In

Cheapest Way To Buy Bitcoin

Cryptocurrency For Dummies

Prediction of Bitcoin Price

The Fastest Growing Cryptocurrency

Best Cryptocurrency

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Top 10 Cryptocurrency

How to Become a Millionaire from Nothing

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Disclaimer:

It is important to note that Piggy Bank Coins does not provide financial advice. We don’t endorse or recommend any financial investments. Instead, we provide information for educational purposes to those seeking knowledge regarding personal finance. However, in the spirit of transparency, note that the author is an investor in cryptocurrencies, precious metals and some equities.

In addition, The Federal Trade Commission (FTC) requires that Piggy Bank Coins disclose to readers that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. Moreover, we try our best to keep things fair and balanced, in order to help you make the best choice for you.