Cryptocurrency Overview: What Coin Is Best for You?
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If you’re familiar with Bitcoin, you know it’s recognized as a great way to diversify your investment portfolio. However, many cryptocurrencies offer unique value propositions beyond just being a store of wealth. Each offers something unique. So, which is the best cryptocurrency to invest in?
With thousands of different cryptocurrencies out there, most of them probably won't become something useful or profitable. Fortunately, CoinFlip's offerings narrow down the long list of cryptocurrencies to provide you with our favorite established cryptocurrencies.
Which Cryptocurrency Is the Best to Invest in?
Bitcoin (BTC) - Bitcoin is the world's first, most popular, and most valuable cryptocurrency. It is a decentralized currency that relies on a massive collection of computers spread across the world that use the mathematical principles of cryptography to verify transactions and virtually eliminate the risk of somebody high jacking the network.
Ethereum (ETH) - Ethereum is a decentralized, open-source blockchain used to create decentralized applications (dApps) and smart contracts. Ether is Ethereum's native cryptocurrency and is used to pay for services on the Ethereum network. Ethereum is one of the most actively used blockchains in the world because it enables authentic collectibles through non-fungible tokens (NFTs) and is commonly used in Decentralized Finance (DeFi).
Litecoin (LTC) - Litecoin is a bit of a cult classic in the crypto-community and lives in the top twenty most popular coins by market value. Litecoin was created as a "lighter" version of Bitcoin, which means that it has faster transaction times and low transaction fees.
Dogecoin (DOGE) - Dogecoin (DOGE) is a cryptocurrency that features the Shiba Inu dog's face from the famous "Doge" meme. Beyond its humorous origins, Dogecoin is useful for payments due to its low network fees.
Chainlink (LINK) - Chainlink is a platform that communicates to and from the blockchain with a decentralized network of oracles that provide real-world data to smart contracts. LINK is the platform's native token and is used to pay for network services.
Stellar Lumens (XLM) - Stellar seeks to simplify the process of cross-border payments by uniting the world's financial infrastructure so that money can be moved quickly and inexpensively between banks, businesses, and individuals. Stellar's native token Lumen is used to pay transaction fees on the Stellar network, which are less than one cent.
USD Coin (USDC) - USD Coin was created to tokenize the US dollar and make it easy to use online and on the blockchain. It is a "stablecoin" that guarantees a single US dollar backs each USD Coin. 1 USDC can always be redeemed for $1.00.
Tether (USDT) - Like USDC, Tether is a stablecoin designed to be valued at roughly $1 per USDT token. It does this by maintaining a reserve of assets equal to the dollar amount of Tether tokens in existence.
PAX Gold (PAXG) - PAX Gold is a digital token backed by physical gold. This means that for every PAX Gold token created, there is a corresponding amount of physical gold held in a secure location. This makes PAX Gold unique because it combines the security and stability of gold with the convenience and accessibility of digital tokens. PAXG enables investors to start diversifying in gold with as little as $20.
XRP - XRP is a cryptocurrency and the native token of the XRP Ledger, an open-source blockchain designed to facilitate fast and low-cost cross-border transactions. It is used by the Ripple network to serve as a bridge currency in financial transactions, making it easier to exchange different currencies. XRP is known for its efficiency, with faster transaction times and lower energy consumption compared to other cryptocurrencies like Bitcoin.
Pepe Coin (PEPE) - Pepe Coin is a meme-based cryptocurrency inspired by Pepe the Frog. Created for fun and community use, it's often used for tipping and small transactions.
Shiba Inu (SHIB) - Shiba Inu is a decentralized cryptocurrency created in 2020 by "Ryoshi." An Ethereum-based ERC-20 token inspired by Shiba Inu dogs, it is marketed to compete with Dogecoin.
Choose the Cryptocurrency for Your Needs
Whether you are looking for cryptocurrency as an investment, or for sending funds to friends and family around the world, we have the coins you need. Purchasing cryptocurrency can seem overwhelming, but with CoinFlip it doesn’t have to be. We take pride in being the world’s most trusted Bitcoin ATM operator and strive to be as transparent as possible. We are big believers in the importance of cryptocurrency education and adoption.
If you’re just getting started with crypto, then I recommend checking out these other beginner-friendly articles:
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