There is huge buzz around the market of cryptocurrency, and understandably so. With more people entering the investment playing field, you too may be looking to decide which cryptocurrency may be the best investment for you. Look no further, we got you covered. Here we have our top picks for the most legitimate cryptocurrencies in the market today.
5. Ripple (XRP)
If you have never heard of Ripple, we don't know where you've been. It is relatively reasonable to call it a cryptocurrency, but in reality, it is so much more. Its created by Chris Larsen and is now a product of Ripples Lab Inc, the company responsible for developing this payment protocol. It has two main products, xCurrent, and xRapid. Without going into too much detail, they are both forms of cross border payments. I'm sure you know what SWIFT is, Ripple is disrupting their market with blockchain. With way fewer fees, now you understand more or less what Ripple is all about.
Which brings Ripple to our number 5 spot; it has a product and a promising one. They are widely available in exchanges, not as much as Bitcoin but quite close.
Much remains to be seen since it is a one-on-one battle between Ripple and Swift. Banks everywhere have been using Swift for a long time, and one knows a fight against anything backed by a bank is an uphill battle. Still, Ripple is legitimate, and we hope it does reduce the cost of cross border payments in the future.
This is an affordable cryptocurrency that is quickly becoming the new cult favorite. Since its establishment in 2015, it has become a strong player in the market with its Ouroboros blockchain, meaning it has two blockchains instead of one. Here, one blockchain will manage general ordinary transactions while the other will manage smart contracts. This gives Cardano the ability to remain scalable and fast as two types of transactions will not slow it down. Fun Fact: most of the people who have invested in this cryptocurrency are from Japan, giving Cardano the name of “Japanese Ethereum” because it uses the Proof of Stake algorithm which Ethereum has been planning to do for a long time now.