In this article we’ll talk about the top crypto currencies and the top crypto currency exchanges.
Crypto currencies are all the rage these days, and trading them can be quite lucrative if you know what you’re up against.
I’m sure you have heard stories of people who bought Bitcoin for a few cents and cashed out for hundreds of thousands of dollars of profit.
Since Bitcoin gained in popularity, waves of new currencies have been hitting the market.
Most of them fizzle out and die after a few months. But some stick around.
As most investors will tell you it’s a good idea to diversify your portfolio so you don’t have all your eggs in one basket.
The same concept applies for trading cryptocurrencies; it’s recommended to buy a bunch of different ones, to make up for potential losses.
Quick Note On Crypto Currency Scams:
One of the most common types of cryptocurrency scams comes in the form of ICO’s. An ICO (Initial Coin Offering) is a way for companies to collect funds to invest in their new cryptocurrency.
The problem is a lot of scammers launch an ICO as a way to make quick cash but never deliver on their promises.
Instead, they take the money and run.
Of course, there are legitimate companies that launch cryptocurrency ICO’s and are worth looking into.
Just a heads up; if a company promises a slightly unrealistic return on investment, it’s best to proceed with caution.
Top Crypto Currencies:
So now that you know what to expect from scammers in this industry, we can get into the meat of the article.
Most of these major crypto currencies are in the top crypto currencies!
1. Bit Coin:
Bit Coin is the main cryptocurrency on the market, it started the trend. If it weren’t for this coin, I imagine most of the other currencies wouldn’t exist.
People still make decent cash trading Bit Coin but the market can be quite unpredictable.
Here is a look at the graph for this year; notice the crazy spikes?
From the looks of it, the value seems to be on the decline, but there’s no saying when it will spike again.
Still, I think it’s worth investing a bit into Bit Coin.
What’s interesting about Bit Coin is that a lot of other crypocurrencies depend on it.
You’ll notice when the value of Bit Coin drops, the value of other currencies does too.
Ethereum depends on Bit Coin, and as you’ll see from the chart below, it spikes when Bit Coin spikes.
Ethereum and Bit Coin are the two major cryptocurrencies and they’re quite expensive at the moment.
Nevertheless you don’t need to buy an entire coin. You can buy portions at a time. You may want to consider getting a bit of Ethereum to mix things up a little.
The business plan behind the coin is quite interesting too, and there are other versions of Ethereum such as Ethereum Gold, Ethereum Classic, etc.
Next, we have the small cryptocurrencies that have the potential to balloon… or crash.
3. Ripple (XRP):
Ripple is really cheap compared to the previous two crypto currency exchanges.
What’s interesting about Ripple is transfers are instant and the fees are really low.
The difference between Ripple and other currencies is it’s designed as a secure payment system, not an investment option.
The company is partnering with a bunch of financial firms and companies around the world, which should lead to some interesting features.
Even Microsoft has shown interest in the business, though no official partnership has been confirmed (though the Microsoft logo is on Ripple’s website).
Getting a bit of Ripple is an excellent idea.
4. Lite Coin:
Lite Coin is another attempt to create a global currency, where payments and transfers can be made without high fees.
The cool thing about Lite Coin is they have a super-secure wallet system.
You can check your balance from either your phone or PC and receive notifications when payments are sent or received.
Lite Coin still has a long ways to go before they achieve their goal, but it’s worth keeping an eye on.
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Top Crypto Currency Exchanges:
Below is a list of our top crypto currency exchanges:
Generally, it’s always better to go with an established trading company that has been around for awhile.
eToro is an excellent trading site, but it’s more for stocks and shares.
Nevertheless, it does have some crypto currencies on there, mainly the big ones; Bit Coin, Ethereum, Lite Coin, and a few others.
It doesn’t have the smaller coins yet.
2. Bit Finex:
Bit Finex is the go-to website for trading Bit Coin and other currencies.
On the other hand…
In 2015 it was the victim of a cyber-attack and the hackers stole about 1500 Bit Coins and $72 million worth of coins from customers.
Since then, the company created a coin called BFX to back up any earnings, in case of another attack.
And the company paid off all the customers who lost cash.
It was a huge incident that reduced the global value of Bit Coin by about 20%.
3. Coin Base:
Coin Base is a digital exchange platform where you can sell major cypto currencies such as Bit Coin, Ethereum, and Lite coin.
You can use it to buy currencies or trade them.
Currently it only supports the major crypto currencies, but the company plans to add more soon.
Nevertheless, Coin Base is one of the easiest platforms to buy and trade cryptos.
It’s one of the top cryptocurrency exchanges.
Our Crypto Conclusion:
Investing in crypto currency is like trading stocks online; it’s risky but can be rewarding!
If you do plan to invest, I recommend going with one of our top crypto currency exchanges, as they have proven to be legitimate.
Just keep in mind the value can spike or drop at a moments notice, so it’s not recommended to put all your eggs in one basket.
Do your own research into each currency and the company behind them before you make a choice.
Trading is a fun way to make some extra cash, but it’s also quite risky, and you should never invest more than you can afford to lose.
Generally, I think its better to focus on building a simple niche website of your own. The start up costs are extremely low, and the income potential is high.
If you want to to learn more about that, follow my free training series below…
Thanks for taking the time to read this article. Leave a comment if you have any questions!