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If you handle your cryptocurrency investments correctly, they may be essential to your overall portfolio. It is possible to increase your assets by purchasing numerous cryptocurrencies, protecting you from losing your whole investment portfolio.
One of the most popular ways to earn money these days is via cryptocurrency trading, but it is hazardous because of the high level of volatility. This is a frightening concept for anybody who has worked hard, but there is a fair probability of even greater reward when there is a significant risk.
There are other profitable ways to use cryptocurrencies. If you want to become a millionaire this April 2022, this article lists the top 5 cryptocurrencies.
The previous years have been like a rollercoaster ride for investors due to the volatile nature of the cryptocurrency market. However, this did not stop millions of crypto enthusiasts and it seems like more and more are becoming invested and interested in the industry.
It’s normal for newbie traders to feel confused and would like to try different ways to trade, in hope of gaining potential profit. Luckily, trading applications like Bitcoin Motion exist to connect traders to reliable brokers that help for a deeper understanding of crypto trading and learn about the different trading strategies. Join the Bitcoin Motion trading platform to purchase any of the listed trending cryptocurrencies.
Top 5 Hottest Cryptos on the Market
Bitcoin
It should come as no surprise that Bitcoin continues to be the most widely used cryptocurrency today. Its current market capitalisation is around $1.1 trillion. If Bitcoin were a corporation, it would be more significant than both Meta Platforms (previously known as Facebook), and Tesla combined in market capitalisation.
Bitcoin continues to benefit because it was the first cryptocurrency to be created. It is more commonly acknowledged than any other digital currency, primarily because it has been around for a more extended period.
Bitcoin is available on major crypto platforms, namely, Binance, Kucoin, and e-Toro.
Ethereum
Ethereum comes in at a distant second to Bitcoin on the list of the most popular cryptocurrencies, which takes the top spot. Its market capitalisation is around US$500 billion, which is less than half the size of Bitcoin’s market capitalisation. On the other hand, some feel that Ethereum will be the Bitcoin of the future.
Ethereum is useful in the actual world and is a significant advantage. Its blockchain technology enables smart contracts, which may be employed in various applications. Ethereum is particularly well-suited to creating non-fungible tokens (NFTs), which are a kind of cryptocurrency.
1INCH Token
The 1INCH Network was formed on May 1, 2019, by Surjey Kunz and Anton Bukov during the ETH Global Hackathon in New York. They first met on Kunze’s YouTube channel “cryptics” and quickly became close. Together they won two hackathons in Singapore.
The 1INCH network offers users a single interface for several decentralised cryptocurrencies. The projects on the 1INCH network are managed through a decentralised, autonomous organisation.
The native token, the 1INCH token, is used for governance in the 1INCH network. In addition, token owners can choose key protocols for DAO models and take part in network governance. 1INCH represents an “immediate governance token”.
This means that governance protocols can start adjusting based on the total votes in 24 hours. Its use as a currency for liquidity protocol carries a variety of functions.
Binance Coin
Binance Coin is the largest cryptocurrency exchange globally, with a market capitalisation of $1 billion. So, it makes perfect sense that Binance Coin is one of the most popular digital currencies on the market, behind Bitcoin and Ethereum.
It is the native currency of the Binance Coin exchange, and it has a market capitalisation of moreover $96 billion at the time of writing. Investors that use Binance Coin to pay transaction costs will benefit from a discount. Each quarter, Binance decreases the amount of digital currency available for trade depending on the volume of transactions.
Binance Coin is, of course, available on Binance. Aside from this major money exchange, you can also get your first Binance Coin via popular trading sites such as Coinbase and e-Toro. Another option will be to get this token from reliable cryptosystems, which will connect you to trusted and regulated brokers who can help you start trading.
Avalanche
Avalanche is a layer one blockchain that provides a foundation for decentralised apps and bespoke blockchain networks.
It is still under development. It is a contender to Ethereum, and it is attempting to dethrone Ethereum as the most popular blockchain for smart contracts by 2020. It intends to have a larger transaction output of up to 6,500 transactions per second while maintaining excellent scalability.
Conclusion
Opening an account with a cryptocurrency exchange is an excellent place to start if you’re looking to purchase or trade various digital currencies. If you want to proceed to invest in cryptocurrency, you can choose between exchange platforms or cryptosystems.
On the other hand, if you are more confident in your trading skills, you can exchange your fiat at major crypto trade and exchange platforms such as Kucoin, Kraken, and Coinbase. When selecting a cryptocurrency exchange, issues like supported assets, fees, payment methods, and security should be considered.
When compiling this list of the top cryptocurrency exchanges, we thought of these aspects to aid you in your search. Crypto is a very risky investment. Thus, after thorough research and consideration of your finances and skills, investments shall be made.
