Have you decided to take the leap forward and start investing in cryptocurrency?
You might feel overwhelmed with the different types of cryptocurrency available. You’re wondering which are the best options and which are the ones to avoid altogether.
This quick guide will introduce some of the best types of crypto investments to consider for new investors. It’ll help you make the transition to using crypto as a form of currency.
Here’s what you need to know about crypto for beginners:
Even if you aren’t familiar with it, there’s never been a better time to buy Audius. This is a crypto created solely for the audio industry and can get used to make transactions to buy audio products and services.
As audio is likely going to be one of the most popular mediums, there might be more need for Audius in the future. It’s currently trading at a low price, around $0.60 per token so now’s the best time to get in before the price skyrockets.
The original cryptocurrency is still one of the best investments that you’ll make. Bitcoin is great as an investment asset as the price has soared ahead of any other cryptocurrency.
As it’s one of the few cryptocurrencies with a limited supply, it’s also a great option to use as currency. Unlike fiat currencies, Bitcoin manages to retain its purchasing power because it can’t get printed on a whim like your country’s national currency!
The main drawback for many new investors is the high price of Bitcoin. However, you can focus on buying fractions of a Bitcoin before buying a whole amount.
You can also trade existing cryptocurrencies for Bitcoin if you need. As your other cryptocurrencies grow in value, you can sell some for fiat and then use this fiat for Bitcoin.
This is a derivation of the original Bitcoin and is a great option for newer investors on a budget.
Bitcoin Cash comes at a lower price tag and also has lower transaction fees. While it’s not the ideal investment for trading for fiat it’s a great option as an alternative currency.
You can also use Bitcoin Cash to trade for other cryptocurrencies. If you’re trying to accumulate other cryptocurrencies such as Bitcoin and Audius, you can always convert Bitcoin Cash into them.
Bitcoin Cash also has top level security and is a harder target for hackers. As a result, it’s likely to catch on with investors and entrepreneurs alike.
Those Are Some Different Types of Cryptocurrencies
Now that you know different types of cryptocurrencies you can choose the right one for your needs!
Audius is an emerging cryptocurrency that works for the audio industry and for streaming services. As audio is likely to be the most popular medium of the future, this is a great cryptocurrency to keep your eyes on.
Bitcoin remains one of the best cryptocurrencies as an investment asset and as a form of money. Bitcoin Cash is a cheaper alternative for Bitcoin.
You can read more about cryptocurrencies on our blog!