Most people heard about cryptocurrency through the massive growth of Bitcoin. Established in 2008 under enigmatic circumstances, Bitcoin has created many people wealthy.
If you had bought 10 Bitcoin in October of 2013 when a particular coin went for about $164. And now one Bitcoin is worth $33,863, which means your initial investment would now be valued at $338,630.
Some experts claim that Bitcoin could simply exceed $300,000 or more in value in the next few years. Other experts say it’s destined to collapse.
Nevertheless, you need to learn about many other cryptocurrencies.
New and future cryptocurrency services will all have to compete for your business. Eventually, this will help customers. Competition helps the buyer and forces companies to operate at a lower cost.
You can also employ different cryptocurrencies to differentiate your portfolio even more. The consequences of blockchain technology, the technology that powers Bitcoin, get far greater than Bitcoin and other digital currencies. Cryptocurrency is innovative, and it is also the very simple implementation of Blockchain.
Ethereum, presently trading at around $1,400, is lesser recognized for now which generates the prospective for larger growth. Ethereum is constantly an excellent choice for investing if you’re looking to diversify your portfolio with cryptocurrency.
Also consider Polkadot and its DOT token, a new internet of blockchains, or the industry-favorite LINK token from Chainlink.
Additionally, enthusiasm is building for currencies in the DeFi ecosystem, from Synthetix to Chainlink.