What are the right decisions regarding buying and selling digital currencies?
Cryptocurrencies have long ceased to be a rarity and have become part of everyday life.
Many have embarked on the adventure of cryptocurrency trading, and those who have not had certainly heard of them.
Criticized and despised on the one hand, and glorified and praised on the other, cryptocurrencies have found their place in the financial market and have no intention of leaving it.
From Bitcoin as the first cryptocurrency until today, a whole pleiad of different cryptocurrencies has appeared, which are active on the crypto market today.
There are currently about 6,000 cryptocurrencies in circulation that are used for transactions on crypto exchanges, and a total of almost 17k!
Many are wondering what the cryptocurrency market will look like next year, whether to invest in cryptocurrencies and which ones?
The basic question is which of the currencies will bring the biggest profit if we invest in it? The answer to this question would bring real wealth to anyone who could answer it.
Unfortunately, the magic wand does not exist, but it is possible, through a small analysis, to predict with high probability which digital currencies could achieve the highest growth in the next year.
Bitcoin
The biggest favorite is, of course, Bitcoin.
Mysterious Satoshi Nakamoto, who is considered the creator of Bitcoin, and whose identity has never been confirmed, claims that central banks and fiat currencies are to blame for the accumulation of wealth in the hands of a small number of people.
He also claims that cryptocurrencies will bring “democratization” to the financial system.
As a pioneer among cryptocurrencies, Bitcoin has the best chances to survive and its record growth is expected.
The next cryptocurrency on the list is Ether, which, in addition to Bitcoin, is one of the currencies that are of interest to a large number of users and which is rapidly advancing on the list, both in terms of value and volume of use. We have written about the relationship between the volume of use and the value of the cryptocurrency itself in the previous sequels.
Ethereum
The next cryptocurrency on the list is Ether, which, in addition to Bitcoin, is one of the currencies that are of interest to a large number of users and which is rapidly advancing on the list, both in terms of value and volume of use.
In addition to the use of cryptocurrency in the world, the Ethereum network is also used to generate so-called “Smart” contracts.
These are agreements between two parties where the system automatically controls the fulfillment of the obligation of each of the parties, which adds value to the Ether blockchain platform and the Ether cryptocurrency.
Ripple
Immediately behind Ether is the cryptocurrency Ripple XRP, which has the ability to enable more efficient and easier cross-border transfers of fiat currencies.
Because of this feature, it is even possible for Ripple XRP to become part of the traditional financial system.
Litecoin
It is followed by Litecoin, which is, in a way, a competition to Bitcoin itself.
Namely, the idea is that Litecoin is used for everyday payments, while Bitcoin would be used for larger payments and investments.
NEO
And at the end of this list, we would mention the cryptocurrency NEO.
The cryptocurrency NEO is realized on a more technologically advanced platform than Bitcoin and similar cryptocurrencies.
By the nature of things, it can be expected that more technologically advanced systems will achieve faster success and overcome systems that are technologically obsolete.
Although it is ungrateful to predict further developments in the crypto world, these five cryptocurrencies are the most promising.