Question from our reader:
Hi, I’m looking for an idea to invest £2,100 in cryptocurrencies. If I had decided earlier, I would have gone for Bitcoin right away, but for now I don’t think it’s a good idea. Which cryptocurrencies are now considered most promising and future-oriented?
There are many cryptocurrencies with a strong position and with a potential for growth in the near future. We’ll mention them briefly:
Cardano is an intelligent contract platform that provides a better alternative to Ethereum. The project is led by former Ethereum programmer Charles Hoskinson. It is also better than Ethereum in terms of many categories. Ethereum’s scalability is only capable of handling 15 TPS, while Cardano’s protocol has 200 TPS. Intelligent contracts – Solidity currency is considered a populariser of intelligent contracts, but it also has many security flaws. Cardano, on the other hand, is based on an extremely secure system.
In contrast to last year, this year’s increase in cardano’s value is enormous. On 8 May, the team working on the cryptocurrency announced that they were still working on a new improvement, which would be revealed in two to four weeks’ time. Our editorial team agrees that the current price of cardano does not reflect the actual value of the project. Therefore, cardano can significantly rise in value this year.
Binance Coin (BNB)
Binance coin recently ranked among the top ten largest currencies in terms of market capitalization, which says a lot about how promising this cryptocurrency is. As the name suggests, Binance coin is the native coin of Binance, the largest cryptocurrency exchange in the world in terms of turnover, which took up the cryptographic world by storm. Since its launch in 2017, 75 per cent of BNB transactions take place at Binance.
But, if there is a promising cryptocurrency that is a favourite in our editorial team, it is definitely XRP. With the acquisition of Ethereum and the second place at CMC, XRP is gradually becoming a major component of the global financial system. RippleNet, RippleNet’s cross-border payment service, has signed agreements with more than 200 financial institutions worldwide.
Most importantly, if all financial institutions joined forces with RippleNet to make international payments, XRP’s price would rise sharply to $692.30 and the ripple market would be worth $27 billion.