There are many options for those looking to get into cryptocurrency but there can be a bit of a learning curve with the sheer number of coins and wallets that is available. This article will go through some best crypto for beginners that you can buy right now.
Before you learn about the best coins for beginners, it’s important to understand how cryptocurrencies work as an asset class. In this guide, we’ll focus on what it means to invest in cryptocurrency as well as where you can buy your first coins.
Bitcoin was among one of the first cryptocurrencies created and has been around almost since the inception of blockchain technology. As such it is widely understood by most people who have heard of bitcoin before. It is considered a store of value, similar to how gold is viewed. This means that bitcoin is not affected by bear markets the way most altcoins are, and are often viewed as a safe haven in times of an economic crisis so get these codes today.
Bitcoin is still considered one of the best cryptocurrencies for beginners, primarily because it’s the most popular and has the most recognizable name behind it, features on most exchanges and is bought using other coins rather than fiat currency.
Ethereum was created after bitcoin with the intention of being more open and flexible in its application within blockchain technology. It can be used to create custom “smart contracts” which allow people to agree upon terms without having to trust each other beforehand through an automated process which executes when both parties meet their end of the bargain.
It is the best altcoin for beginners to learn about smart contracts and is a very viable alternative to bitcoin, although it’s value doesn’t fluctuate as much. It also features faster transactions times than bitcoin.
Ripple was created with a focus on making a payment system that can handle cross-border payments within seconds rather than hours or days. Ripple has been adopted by banks all over the world and it’s price tends to rise during market dips because of this use case which makes it a good coin to hold in any portfolio long term.
This cryptocurrency should not be confused with XRP, an independent digital asset which cannot be mined and exists within the ripple blockchain.
Litecoin is often referred to as the silver to bitcoin’s gold. It was designed to be a more accessible and faster version of bitcoin with a shorter block time and a larger maximum number of coins that can be mined.
Litecoin is often considered one of the best cryptocurrencies for beginners because it is easy to mine, understand and use. The price also doesn’t fluctuate as much as other altcoins making it a relatively stable investment.
EOS is a newer cryptocurrency that has been quickly rising in value and popularity. It bills itself as “the most powerful infrastructure for decentralized applications” and aims to solve some of the problems that Ethereum faces such as scalability.
EOS is not as well known as some the other coins on this list but it is still a top 10 cryptocurrency with market share over 5% at the time of this writing. It is another good alternative to bitcoin for beginners because it also does not fluctuate as much in value making it a relatively stable investment.
There are many other cryptocurrencies that are available to buy right now, but these are the ones which are most often viewed as being beginner friendly. This article may change depending on trends in the industry over time so be sure to check back occasionally for updates.