With the ever-rising demand of digital currencies, we have seen a drastic rise in the popularity of cryptocurrencies from 2017. The amazing part is that these currencies are still growing exponentially even in 2020.
The challenge a newbie may encounter is knowing which of the cryptocurrencies to invest in. Hence, this write-up sets to inform you about the 3 growing cryptocurrencies to keep tabs on.
Bitcoin is the most popular digital currency and it has about 45% of all cryptocurrencies. It is currently the most valued digital currency with 1 bitcoin amounting to ₦3,668,551.62 as of June 2020.
It is worth nothing that if you must venture into Bitcoin, you must constantly keep yourself updated with changing information as this serves to guide you on when to invest and when not to.
For all your Bitcoin investments, you can visit Nairadirect or Exchange indeed.
Ethereum is a network which uses Ether as its digital currency. It holds second place in the world of cryptocurrencies and it’s seriously gaining popularity.
Ether can be used to transact and can be sent to people in any part of the world. Unlike most of the block chains we have in existence, Ether can be used for many things, such as making payments, investments in digital assets or even borrowing and lending via the enabling applications etc.
As of June 2020, 1 Ether equals ₦90,636.32 whereas in February 2020 it was about ₦50,429.40. This shows how much value the Ether has gained over just a short period.
3. (XRP) Ripple
The next on this list is Ripple, which is only third after Bitcoin and Ethereum. It was first introduced in 2012. Ripple was conceived by Jed McCaleb and created by Arthur Britto and David Schwartz. Ripple has over one billion dollars worth of cryptocurrency on its network and it is an open-source decentralized system that promotes a seamless transfer of money in any form, (yen, dollars, or Bitcoin)
The advantage of ripple is that Ripple uses a group of servers to confirm transactions. Ripple transactions use less energy than Bitcoin, and it takes seconds for transactions to be confirmed. Its confirmation costs very little, compared to its counterpart, Bitcoin and Ethereum, which is costly and takes minutes or a longer time to be confirmed.
There are so many cryptocurrencies in existence, but Bitcoin, Ethereum and Ripple are the most valued cryptocurrencies in the world. For your opinion on the three growing cryptocurrencies to watch out for, please a comment below.