5 best cryptocurrencies to invest today

Highlights

• A CNBC survey has found that 1 in 10 people are currently investing in cryptocurrencies at present.
• Digital coins have been ranked fourth most popular investment after real estate, stocks, mutual funds and bonds.
• Fintech companies are also entering the crypto market, such as PayPal launching cryptocurrency services in the U.K this week.

A new survey has found that 1 in 10 people are currently investing in cryptocurrencies at present, mainly due to ease of trading. The CNBC/Momentive Invest in You survey has stated that after real estate, stocks, mutual funds and bonds, digital coins are the next most popular investment option. Last year, around 65% of the cryptocurrency investors started investing in this asset class. Trademark volatility has been witnessed in several cryptocurrencies during the same time period. A major example being bitcoin, which had a price rise to an all-time high of over US $63,000 in April, and then slumped afterwards, before recently rising again to around US $50,000.

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According to the survey, the main reason for increasing investments in the cryptocurrency market is the ease to make trades, which can potentially lead to high returns over a relatively shorter period than the traditional stocks. The exciting crypto market feels like a game to investors, which is further encouraged by social media personalities. However, just like other assets, there are risks associated with cryptocurrency investments as well. Thus, it becomes critical to conduct a meticulous research before buying any cryptocurrency to be aware of its pros and cons beforehand.

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Cryptocurrencies can help in creating a well-balanced and diversified portfolio, and cryptocurrency stocks have presently become a major focus of the stock markets. Fintech companies have also started entering the cryptocurrency market, such as PayPal launching its cryptocurrency service in the UK this week. However, the top cryptocurrencies are not in a good place today as the prices of Bitcoin and Ethereum are going down. Here are five best cryptocurrency stocks to consider in the stock market now.

Bitcoin (BTC)

Bitcoin is the oldest and the largest cryptocurrency in the world and is a peer-to-peer digital currency. Introduced in 2009, it literally started the cryptocurrency movement. It is among the most popular cryptocurrencies and its price movement has a strong impact on other cryptocurrencies. Despite BTC’s prices falling sharply earlier this year due to China’s crackdown on the digital currency, the digital currency has rebounded in recent months.

Bitcoin’s price is currently trading at US$ 46,786.7461, down by 4.44% per cent in the past 24 hours as of 26 August at 8:07 AM GMT+1, while BTC’s market cap stands at US$ 901.59 billion. BTC’s prices have risen by 5.11 per cent in the past week.

Also, BTC’s total volume stands at US$ 32.94 billion, up by 9.83 per cent in the past 24 hours. Bitcoin is still the most popular crypto with 18,797,756.00 BTC circulating supply, and dominance currently at 44 per cent as of 26 August.

Ethereum (ETH)

Ethereum, also known as Ether, is an open source, which means that it uses blockchain technology to enable smart contracts and cryptocurrency exchange securely without a third party. It is the second most popular cryptocurrency after bitcoin and is different from it as it allows developers to build applications using its platform, and facilitates developing others cryptocurrencies and DeFi apps. Popular coins such as Tether, Binance Coin and others are built on the Ethereum network.

Ethereum’s price is currently trading at US$ 3,149.4463, down by 4.71 per cent in the past 24 hours, as of 26 August at 8:19 AM GMT+1, while ETH’s market cap stands at US$ 369.30 billion. ETH’s prices have risen by 2.50 per cent in the past week.

Also, its total volume stands at US$ 18.88 billion, up by 1.35 per cent in the past 24 hours. 117,260,191.50 ETH is its circulating supply, with its dominance currently at 18.1 per cent as of 26 August.

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Cardano (ADA)

Founded in 2015 by Ethereum co-founder Charles Hoskinson, Cardano is a public blockchain platform. It is open-source and enables decentralized applications, similar to Ethereum, with consensus achieved using proof of stake validation. It focuses on reducing its transaction time and the energy usage as environmental issues are becoming a major concern of investors in platforms like bitcoin.

Cardano’s price is currently trading at US$ 2.6204, down by 4.17 per cent in the past 24 hours, as of 26 August at 8:35 AM GMT+1, while its market cap stands at US$ 84.23 billion. ADA’s prices have risen by 22.96 per cent in the past week.

Also, its total volume stands at US$ 7.37 billion, down by 17.20 per cent in the past 24 hours. 32.13B ADA is its circulating supply at present.

Binance Coin (BNB)

Launched in 2017 and issued by Binance exchange, the Binance Coin is a form of cryptocurrency that can be used to trade and pay fees on Binance, which is among the leading crypto exchanges across the globe.

Binance Coin’s price is currently at US$ 492.8466, down by 1.90 per cent in the past 24 hours, as of 26 August at 8:43 AM GMT+1, while its market cap stands at US$ 82.87 billion. BNB’s prices have risen by 21.78 per cent in the past week.

Also, its total volume stands at US$ 3.76 billion, up by 19.59 per cent in the past 24 hours. 168,137,036.00 BNB is its circulating supply at present.

Tether (USDT)

Launched in 2014 as Realcoin, Tether is a stablecoin, as it is backed by fiat currencies such as US Dollars and Euro and hypothetically keeps a value equal to one of those denominations.

Tether’s price is currently trading at US$ 1.00, up by 0.03 per cent in the past 24 hours, as of 26 August at 8:49 AM GMT+1, while its market cap stands at US$ 65.53 billion. Its prices have not changed in the past week.

Also, its total volume stands at US$ 83.11 billion, up by 5.05 per cent in the past 24 hours. 65.51B USDT is its circulating supply ay present.

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