With around 2000 of cryptocurrencies available in the market, finding the best one to bet your money on can be an overwhelming task. Where to begin? Which is the best cryptocurrency to invest in? These are indeed the biggest questions investors face.
So, if you are looking for some guidance on which is the best cryptocurrency to invest in right now, we are here to make things easier for you. Luckily, we did some research that analyzed several factors and has come up with the most important cryptocurrencies to invest in India.
Here are the most promising and worth investing cryptocurrencies in India.
1. Bitcoin (BTC)
Undoubtedly, bitcoin is the market leader. It is the first and best choice for crypto enthusiasts to invest in. Almost every popular crypto exchange offers you the option to buy BTC in India. As per the reports by top cryptocurrency exchanges in India, bitcoin is the most traded cryptocurrency to date. Even in previous years, bitcoin has performed incredibly well. As per bitcoin price prediction data, the value of bitcoin was raised to $5,412 per coin from $3,862 per coin between January 1st and May 1st of 2019.
Thus, people who invested in bitcoin in January enjoyed a monthly return of around 10 %. Holding an overall share of 40% in the digital currency market BTC is the biggest cryptocurrency. Moreover, the bitcoin utility is intended to increase in the coming years. It is quite stable and is thereby expected to remain elevated without being able to lose its status too soon.
2. Ethereum (ETH)
After bitcoin, Ethereum occupies the second largest cryptocurrency market share. Having more market applications than bitcoin, Ethereum encapsulates huge potential. Launched in the year 2017, Ethereum has risen to huge popularity among enterprises. The reason being its smart contract protocol integrated into its blockchain. Moreover, it is backed by the alliance of several fortune 500 companies such as Intel, JP Morgan, Thomson Reuters, Microsoft, HP, and many more. Plus, the limited supply for the circulation of Ethereum is expected to uplift its price. Already it is exhibiting signs of high ups and downs and has reached the $200 mark.
# 3. Ripple (XRP)
The next one to our list is Ripple, the third-largest cryptocurrency. Among Indian investors, Ripple has a good demand. This cryptocurrency works with prominent banking and financial institutions around the world. Banks being its major adopters, the price of XRP is likely to follow a positive trend. Therefore, XRP is a good option for investment. Ripple was launched to facilitate the instant movement of currency like information. Within 4 seconds Ripple XRP can transfer money from one end of the world to another. Besides this, it can execute 1,500 transactions per second. While on the other hand, bitcoin can process 5 transactions per second.
Hence, this is the list of preferred cryptocurrencies to invest in India. But make sure you research thoroughly about these cryptocurrencies. Read their white papers, find out their prices, and circulating supply