Promising Cryptocurrencies that Even Students Can Afford
Fast Growing And Stable Cryptocurrencies For Student Investment
In 2009, people faced a financial crisis, and in response to this problem, bankers offered Bitcoins. Many people considered the replacement ineffective because it is a digital currency – no one could have imagined that Bitcoins were a new and powerful asset. Today, Bitcoins are considered the most profitable and best cryptocurrency to invest in. However, there are other valuable cryptocurrencies.
The cryptocurrency market is the most extensive and is worth over $ 1.3 trillion. If you can’t choose the coolest coins for investing, you can use our review and advice. Why is it essential to invest in the right cryptocurrency? So that your income does not exceed expenses! We have collected seven of the most convenient and profitable crypto coins for student investment.
Charles Lee developed the Litecoin cryptocurrency in 2011. In his project, the developer tried to preserve all the advantages of the Bitcoin cryptocurrency and strengthen them, eliminating the existing errors. Already two years after its inception, Litecoin was rightfully considered the central reserve digital currency after Bitcoin. In 2016, it became the second most expensive and fastest-growing cryptocurrency.
The creators of Litecoin set a goal to surpass Bitcoin in all respects and make LTC the leading cryptocurrency in the digital market. Many have already noted that Litecoin has grown significantly – Litecoin is among the top 7 cryptocurrencies with the highest market capitalization. Therefore, the version about the replacement of Bitcoin no longer seems so fabulous. Litecoin has higher throughput and lower transaction fees.
On Litecoin, all known world cryptocurrency systems are guided today, which speaks of its strong positions. Moreover, online stores and online paper writing service are planning to introduce payment with this cryptocurrency. Litecoin currently has a market cap of $ 4 billion and costs $ 190 per token. If your priority is the speed of trading operations, guaranteed confidentiality of transactions, the security of your accounts, and protection from hacker hacks, then you can safely invest in Litecoin.
The history of Bitcoin began in 2008 with the posting on the network of a message by Satoshi Nakamoto. He announced the creation of a new cryptocurrency. The purpose of Bitcoin was to create a means of payment that allows you to pay anonymously online without intermediaries.
This is the first decentralized currency, which differs from monetary units and payment systems created before it. Bitcoin is not tied to assets, national currencies, and the cost of coins regulates the supply and demand of the market. Today Bitcoin is the most popular cryptocurrency in the world. Along with this, the value of the currency is also growing and will increase.
A young developer Vitaly Buterin, carried away by blockchain technologies, in 2012 founded a specialized magazine for cryptocurrency lovers Bitcoin Magazine. Between 2013 and 2015, he created his decentralized platform for working with smart contracts using blockchain technology. The new cryptocurrency was named Ethereum. It turned out to be so successful and promising that its creator became a business partner of such world-famous corporations as IBM, Microsoft, and one of the world’s largest banks, JPMorganChase.
Ethereum, created on software code with a higher level of reliability, allows users to pay for homework help, clothing, food, or other services and develop different decentralized applications. It takes only about 15 seconds to form a new block of Ethereum, which is several times faster than for Bitcoin. Ethereum is today the leader in implementing the Smart contract concept in the field of financial relations. That is why it is considered a promising digital currency and the future of the digital economy.
Cardano is a blockchain platform that developed a cryptocurrency known as ADA. For the first time, the idea of the project was provided by the co-founder of Ethereum Charles Hoskinson in 2015. It took two years to implement the project – in 2017, people began to use the ADA cryptocurrency actively. The creator of Cardano named the cryptocurrency after Ada Lovelace, better known for her work on a computing machine in the 19th century.
The main advantages of Cardano are environmental friendliness, which is essential for many countries. For example, China and Iran banned mining a few years ago, arguing that the computers used in the process consumed too much power and caused power outages. With the advent of Cardano, this problem disappeared, and countries re-opened access to mining.
If we compare Cardano with Bitcoin, this cryptocurrency consumes ten times less energy – only 0.006 terawatts per hour. Thanks to Cardano, the annual emissions from bitcoin mining have decreased. Therefore, if you want to conserve nature and save on energy consumption, Cardano is a great choice. Cardano currently has a market cap of $ 71 billion – one ADA equals $ 2.50.
Dogecoin is a cryptocurrency based on the popular Shiba Inu dog meme. It was created by Billy Markus and Jackson Palmer in 2013 based on the Litecoin code. They hoped to launch a digital asset that is more interesting and more attractive to new users than Bitcoin without adding any technical delights.
The creators compared Dogecoin to “a little change that you throw in a piggy bank when you come home.” The cryptocurrency gained fame among the general public thanks to the attention of Tesla CEO Elon Musk, who repeatedly wrote about it on Twitter, which subsequently resulted in a rapid rise in its rate.
Dogecoin was created so that anyone could mine it on a CPU or GPU by following the summary guide. The Dogecoin blockchain can process about 30 transactions per second – transaction processing fees are usually around a cent. Today, Dogecoin has 130 billion coins in circulation and is growing every year.
Polkadot is a segmented bridging protocol that supports communication between other cryptocurrencies, enhances value transfer, and improves blockchain security. The idea was introduced by Gavin Wood, co-founder of Ethereum and founder of Parity Technologies, at the end of 2016. The project was released at the end of 2020.
The main idea behind Polkadot is to connect private and consortium networks, public and permissionless networks, oracles, and other technologies. Polkadot provides secure Internet access for cryptocurrency holders and makes it easy to access platforms. Independent blockchains can exchange information and transactions without trust using the Polkadot relay chain.
Polkadot is rapidly gaining traction in the Defi space and the broader crypto community. With easy integrations, available grants, and a general layout, Polkadot projects are gaining value, and the Polkadot Association seems to have a positive impact on the project’s token value.
Binance coin is a currency created by the developers of one of the largest cryptocurrency exchanges in the world – Binance. Binance launched its ICO in July 2017. In just 3 minutes, the developers managed to collect the required amount – $ 15,000,000. The main goal of this cryptocurrency is to develop a platform of the same name and use BNB inside it as a financial asset.
The main difference between Binance coin and other cryptocurrencies is that it is a token that provides the ecosystem of the largest exchange, which offers ample opportunities for its use. For example, using BNB tokens when trading on the Binance exchange, you can pay a commission for the purchase and sale of cryptocurrencies, thereby receiving a discount on the size of the commission.
You can also pay commission fees for transfers and withdrawal of funds from the exchange, participate in IEO, buy digital currencies available for trading on the exchange, store tokens, and receive additional dividends for this. As you can see, this token has an extensive application, which indicates its high demand among platform users and provides an excellent potential for further development and distribution. This platform confidently ranks first in terms of trading volume among all cryptocurrency exchanges in the world during 2018, 2019, 2020, and 2021.