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Investing rock star Warren Buffett has called Bitcoin rat poison, a mirage, and worthless. He has also noted that cryptos are basically worthless because “they don’t produce anything.” We’d like to offer a rebuttal of that here and here. But we don’t have any illusions that minds will be changed.
Carl Icahn has gone on record describing cryptocurrencies as “ridiculous.” But at least he also noted that he just might be too old to understand them.
Dallas Mavericks owner Mark Cuban has said that he did rather have bananas than Bitcoin… After all, at least you can eat bananas. But you could also trade a single Bitcoin for more than 150,000 bananas. So that might not be the sagest advice, Mr. Shark Tank has imparted. It’s also worth noting that he estimates 80% of his investments are now crypto-related. It’s nice to see that his strategy has changed with the tides.
Then there’s JPMorgan Chase CEO Jamie Dimon. He’s referred to digital currency as a “fraud” He also said that people studio enough to buy it will pay the price for it in the future. He was close… It turns out Bitcoin investors have been paid a price- and a substantial one at that. He’s also changed his tune on crypto over the past couple of years.
Even “the fools” who jumped in on Bitcoin during its 2017 highs now see a return on their investment. That is f they were wise enough to hold. That being said, it did take a few years and those who waited for the 2017 crypto frenzy to die down have been even luckier.
If the past two years have proven anything, it’s that cryptocurrencies have more lasting power than the naysayers thought. So a list of the best cryptocurrencies is a worthwhile endeavor.
Lists of the best Cryptocurrencies are as followings:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Binance Coin (BNB)
- Solana (SOL)
BITCOIN (BTC) :
After all, there’s something to be said about the cryptocurrency that started it all. With a market cap of more than $800 billion, it’s without a doubt the strongest cryptocurrency out there. Its steep price keeps many potential investors on the sideline. But that isn’t the case. For instance, here we are picking up $17 worth of Bitcoin in a Robinhood account. While Robinhood isn’t the preferred way to invest in crypto, this example does highlight simplicity. Bitcoin was back when it was trading for around $36,000 a token. But that small holding still grants exposure to the most prominent cryptocurrency out there.
ETHEREUM (ETH) :
While Bitcoin rules the crypto roost, Ethereum is a potent second fiddle with lots of upside potential. For every Batman, there’s a Robin. Ethereum is an alternative to fiat currency. But its blockchain technology is more focused on decentralized applications and an NFT marketplace than digital currency. But that hasn’t slowed this altcoin’s rise in value.
While operating as a software platform, it enables decentralized applications to be built and run without fraud or third-party interference. The applications that run on its platform operate via their own cryptographic token. That makes this crypto sought after by developers looking to improve and run apps within this network.
Ethereum also happens to be one of the most popular cryptos that can be used on exchanges to buy other cryptocurrencies. While its market cap is still less than half of Bitcoin’s, it has slowly been making headway and with momentum on its side, Ethereum is an easy pick for one of the best cryptocurrencies available.
LITECOIN (LTC) :
It was founded by former Google employee Charlie Lee, this crypto shares a lot of similarities with Bitcoin. It was developed with the intention of improving transaction times and lower transaction fees. It has a substantially faster block generation rate than Bitcoin, and unlike most cryptos, the list of merchants that accept Litecoin is growing rapidly.
BINANCE COIN (BNB) :
It is the largest cryptocurrency exchange in the world based on volume. and naturally, is the official token of the Binance exchange. It allows users to trade in other cryptos with seamless efficiency. It can also simplifies transaction fees and even pay for goods and services. There is a Binance Card available now. This allows folks to pay for things just like they would like their regular credit card. The only difference is that they load up the card with Bitcoin or Binance Coin to pay for groceries or a new crypto hard wallet.
Based on usability alone, its easily one of the best cryptocurrencies available. It’s also the preferred token for trading pon popular decentralized exchanges like pancakeSwap and Network.
SOLANA (SOL) :
When we first checked out Solana, this project looked like it could hit it out of the park and while it’s currently trading about 53% its all-time-high, our thesis hasn’t changed. That’s in part due to the fact that it’s up more than 7,800% compared to this time last year.
The blockchain behind Solana set out to revolutionize the crypto market. It’s low transaction fees and breakneck confirmation speeds leave us in awe for currently trading at a discount.
The not so great Cryptocurrencies to date
The two biggest cryptos out there that didn’t make this list missed it for two reasons.
Diem : It’s is formerly known as Libra and it’s the most hyped crypto ever.
Ripple (XRP) : It’s has been one of the most widely know cryptos for years. it’s had ups and downs in value just like the others but while many cryptos are surging upward, Ripple is floundering in a big way. At the end of 2020, Ripple took a big hit, and it’s uncertain how long the damage will last.
There are roughly 8,000 different cryptocurrencies out there and, a whole lot of them aren’t worth the space they take up on your hard drive. For instance Dogecoin had a stellar year in 2021 but it’s one of those tokens that really doesn’t do anything and with a virtually unlimited supply demand is unlikely to keep up with supply for very long.