3 Best Cryptocurrencies to Invest In If You Can Handle the Risk

Most investors have probably heard about cryptocurrencies. Cryptocurrencies are pervasive in news headlines as an asset to invest in for the future.

What is Cryptocurrency?

Cryptocurrencies are digital money or virtual currency. It is a digital asset stored on a network of distributed computers.

Cryptocurrencies utilize blockchain technology to record and verify transactions on a distributed ledger. It can be thought of as a shared public distributed database.

Risk of Investing in Cryptocurrencies

Blockchain is reportedly difficult to hack since it is decentralized. However, hackers have successfully stolen cryptocurrencies from wallets and exchanges.

Volatility is the price fluctuation of a tradeable asset. Cryptocurrencies, like Bitcoin, are volatile. For instance, Bitcoin’s price has fluctuated between a low of ~$29,800 to a high of about ~$67,600.

3 Cryptocurrencies to Invest In

There are 19.1 million Bitcoins in circulation, and thus the total market capitalization is more than $780 billion. The limit on the number of Bitcoins is 21 million.

Bitcoin

Ethereum

Ethereum is the second most common cryptocurrency to invest in, with about 19.5% market share. Although Ethereum is a cryptocurrency, it is not the same as Bitcoin and targets a different market niche.

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