Which of the Top 5 Cryptocurrencies Has Long Term Appeal?
It is always going to be your decision regarding just which cryptocurrencies you should be investing in, for it is very true to say that any of them can and will increase and decrease in value at any time.
If you are new to the cryptocurrency investing environment, then you will probably be best advised to concentrate your initial investing efforts on the top five cryptocurrencies, and possibly not get too carried away regarding the amounts you invest in any of them, whilst you are finding your feet so to speak.
The most obvious cryptocurrency and one that is often at the very top of all first-time cryptocurrency investors list of ones to invest in is of course Bitcoin, and there are pros and cons of investing in that one.
Firstly, you need to be aware that you are never going to have to be forced to buy one single full unit of Bitcoin, which may be music to your ears, for with its value at this moment in time being $7,076.33 you will need a very large investment fund if you were to buy single full units of that cryptocurrency.
The major downside of investing in Bitcoin though, is that its value is one of the most volatile, due to the cost being so high, so that should only be one you invest in if you are fully aware of the risk to your trading funds.
But it is very true to say that when Bitcoin does shoot up in value rather than drop in value, there are some huge profits to be made when investing in it at just the right time.
Ethereum and Ripple
Two other cryptocurrencies that you may be interested in investing in are Ethereum and Ripple, the former is very popular with many investors for Ethereum is a cryptocurrency that offers users the ability of launching their own coins and tokens.
The smart contracts offered on the blockchain of Ethereum may take some time to get used to, but they certainly do offer a range of additional options regarding investments that other cryptocurrencies do not.
Keep in mind that Ethereum is nowhere as expensive to buy as Bitcoin and for reference the current value of a full single unit of Ether is $394.45, but the coins and tokens built onto its blockchain and and do vary sufficiently in price.
Ripple is going to directly appealing to investors who are not prepared to invest huge amounts of cash in any cryptocurrency, and with one unit of Ripple currently being priced at $0.512937 is may be the perfect one of you to invest in if you want to dip your toes into the cryptocurrency trading environment in a low-cost way.
There are however fees and charges to be paid when you buy any cryptocurrencies on a digital currency change so be aware of them as they will be charged no matter what quantity of any cryptocurrencies you do decide to purchase from such exchanges.
Bitcoin Cash and Litecoin
The fourth largest and most popular cryptocurrency based on its market capital is of course Bitcoin Cash and due to the simple fact that one full single unit of that cryptocurrency so only going to cost you it is another one that may appeal to you.
Keep in mind, that as the name of that cryptocurrency does imply it is related to Bitcoin, and for reference it is a simple fork of the Bitcoin blockchain that it has been built upon.
The final cryptocurrency I would like you to possibly consider investing in is Litecoin which is currently the fifth largest and most popular cryptocurrency in use around the world based on its market capital value, and if that is a cryptocurrency you want to invest in then one single unit of it is currently going to cost you just $119.54.
However, make no mistake about it, no matter which cryptocurrency you do end up investing in, you are going to find their respective values can and will bounce around all over the place, and the one way that you are going to be bale to make a profit when investing in any of them is to buy when the price is low and then sell when the price is high.
But by being fully aware of the volatile nature of all cryptocurrencies and only investing money you can afford to lose, you should find it is a very exciting and can often be a profitable investing environment too.