It is true that the cryptocurrency market has seen an era of evolution. The craze for cryptocurrency started with the launch of Bitcoin in 2009. Launched in 2009, Bitcoin was priced at $1, making it affordable. The price for the same has gone up to $40000 as of 2021. In addition to a price increase, the cryptocurrency market has seen a large number of investors globally. As of December 2021, there is a total market cap of 2 trillion on crypto investments. Additionally, the total number of investors has grown exponentially making India and USA rank top in the list.
With growing acceptance, there is also an increase in the total number of cryptocurrencies available globally today. As of today, there are 14000 cryptocurrencies available making investors diversify their portfolio of investment.
With more than 14000 cryptos now available in the market, it makes it difficult to understand which crypto to choose. Bitcoin is pricey and making your investment on this coin may not be feasible for every investor. If not Bitcoin, then what next?
Let us understand two other prominent cryptocurrencies that you can choose as per your budget availability.
Tether
Tether came up as a ray of hope to the cryptocurrency investors. Tether attracted investors who are looking for long-term investments and are tired of price volatility. It became the fourth leading cryptocurrency in the investment market. As of today, the total market capitalization of more than $90 billion. The low pricing model of Tether has attracted an investment model as compared to Ethereum and Bitcoin. According to a study conducted, Tether was able to provide its investors with more than a 100% increase in 2020.
Is Tether a good investment option for you?
Tether is built on blockchain philosophy. Tether is also backed by the US dollar. This means every Tether is valued equal to its dollar value. Tether is a good investment model if you are looking at purchasing other crypto tokens, transferring funds from one account to another, and holding to earn long-term interest. Tether provides investors with more than 20% investment earnings. The tether can also be used for purpose of lending.
Another good news about Tether is that the coins are made available to investors based on market demands. Unlike other cryptos like Bitcoin and Ethereum, this coin is not mined. Considering the market demand, Tether limited mints the coin and makes it available for market use.
Another important thing to look out for while investing in Tether is to understand price fluctuation. In the past, Tether has seen price change from $1 to $1.06 and $0.90 as well. Hence, this investment model needs you thorough understanding before doing so.
Ethereum
Ethereum came out as the second alternate coin to Bitcoin. It was able to uphold Bitcoins’ flaws and allow for easier transactions at lesser fees. The coin is scalable and provides investors with better transaction speed as compared to its predecessor. Ethereum became famous for being able to undertake transactions when certain conditions are met. This also included the execution of smart contracts without any third-party intervention.
Yet another added advantage of Ethereum is its ability to upgrade and come up with new features. The recent addition to this list is the launch of Ethereum 2.0. Ethereum founders have come up with a new version of the existing token to allow for easier investment, better traffic control, and work on proof of stake philosophy. This upgrade will help to curb existing deficiencies related to environment mining, price volatility, etc.
Another growing attraction to this investment model is accepted by many online companies. Today, online shopping websites and other retail stores accept Ethereum as a legal payment model making this an effective investment option for you.
How to buy Ethereum?
Investing in an Ethereum token is easy. You need to create a legible account with any leading crypto exchange like quantum ai. Make sure that the exchange you choose allows you to trade using multiple currencies. Pick the required quantity and go ahead with making payment for the same. Depending upon the market demands and price fluctuations you can choose to retain Ethereum as a long-term investment. But if you are not interested, then you can also go with carrying out daily trading activities.
(Devdiscourse’s journalists were not involved in the production of this article. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse does not claim any responsibility for the same.)