With each passing day, cryptocurrency becomes more popular. Even though cryptocurrency is highly volatile and speculative, the number of investors is increasing because they fully understand the higher returns they will receive. That is why the cryptocurrency market is booming, especially in India. The most popular cryptocurrency in India is Bitcoin.
There are thousands of cryptocurrencies in circulation, listed on numerous cryptocurrency exchanges. Bitcoin is still at the top, like a king of the crypto world. But to afford to invest in Bitcoin is not everyone’s cup of tea.
Likewise, stocking up your Bitcoin wallet is not just for everyone. We always associate cryptocurrency with Bitcoin, Ethereum, XRP, and so on, but there are now cryptos catching the attention of new investors.
The top cryptocurrencies to invest in on the crypto investment app are listed below.
- Ethereum (ETH)
Market Capitalization: $395.942 Billion
Bitcoin is Ethereum’s closest competitor in terms of market capitalization. It is a cryptocurrency as well as a blockchain platform. Vitalik Buterin founded Ethereum in 2013, and it assists developers in creating smart contracts and decentralized applications without the interference of third parties. Bitcoin, unlike Ethereum, does not support smart contacts. Because of NFTs, many cryptocurrency enthusiasts are gravitating toward Ethereum. The Ethereum blockchain secures almost every other high-value NFT. Ethereum has released an updated version known as Ethereum 2.0, including new and improved features and smart contracts. There is a widespread belief that Ethereum will surpass bitcoin and become the dominant cryptocurrency.
- Tezos (XTZ)
Market Capitalization: $3.275 Billion
Tezos, like Bitcoin and Ethereum, is a decentralized ledger that employs blockchain technology and the proof of stake algorithm to ensure the platform’s security and extensibility. According to the developers, “Tezos” stands for “smart contract” in Greek. It allows users to control the network’s rules directly. It gives everyone the ability to point out or propose changes to be voted on without any inter-debate, and if your idea is approved, it will be implemented automatically.
- Avalanche (AVAX)
Market Capitalization: $25.158 Billion
Avalanche is a cryptocurrency and blockchain platform, and it was launched in 2020. It uses smart contracts to support a wide range of blockchain projects. It began in the 64th position in terms of market capitalization and finished in the 10th position. Anyone can contribute to the platform’s code since it is an open-source project. AVAX is used to pay transaction fees and secure the Avalanche network. The Avalanche blockchain has been reported to process approximately 4500 transactions per second.
Market Capitalization: $22.694 Billion
Polkadot is a blockchain platform and cryptocurrency that is open source and uses the proof of stake consensus algorithm. Initially released in 2020, it was created by Gavin Wood, an ex-co-founder of Ethereum. Polkadot is yet another thriving cryptocurrency gaining traction in high-risk ventures worldwide. Polkadot has drawn cryptocurrency investors because of its exciting features such as interoperability with other blockchains, network scalability, forkless network and software, customized security, and many more.
You can easily find these cryptocurrencies on an Indian trading app to get right into them.