Crypto tip: Top 5 cryptocurrencies for beginners
Cryptocurrency has been around for more than a decade, starting with the release of the first decentralized blockchain-based digital currency in 2009. Cryptocurrency runs on distributed public ledgers called blockchains and does not rely on a central banking system.
Crypto has hit the mainstream with billions of dollars in transactions every day. It’s been picked up by social media, where influencers and celebrities have found a source of income promoting crypto. This has led to a recent lawsuit involving some high-profile names and questionable moves. Tap or click here to check out the story.
There are thousands of digital currencies out there, and it’s easy to get lost in the sheer volume of options. We’ve broken down five popular cryptocurrencies for you to check out.
Before we dive in, this is not financial advice. Cryptocurrency is inherently risky, and you should never invest money you are not willing to lose.
1. Bitcoin
Bitcoin was the first cryptocurrency debuting in 2009, and it’s undoubtedly the most well-known. Starting at virtually zero, Bitcoin’s value came close to $70,000 in November 2021, according to charts at blockchain.com.
You don’t need to be rich to get started in Bitcoin. You can purchase fractional shares for as little as $1 through many exchanges and investment platforms.
The price of one Bitcoin is just over $41,000 as of this writing.
2. Ethereum
Ether, the native currency of the Ethereum network, is the second-largest crypto after Bitcoin. It’s come a long way since its launch in 2015 to become a significant competitor in the crypto marketplace.
While Bitcoin was introduced as an alternative to traditional legal tender, Ethereum provides a platform for the peer-to-peer exchange of anything with value, such as property, investments, money and more.
Ether is at about $2,900 as of the time of this writing.
Everything you need to know about NFTs
You’ve probably heard of the acronym NFT at some point. It’s popping up in headlines left and right, and if you follow financial publications, you’re probably well-acquainted. It’s the red-hot investing craze stealing the nation’s attention.