Top 10 Cryptocurrency to Invest in Nigeria 2019
This article talked on the most profitable Cryptocurrency best for Nigerians to invest on.
Cryptocurrency has been the talk of the of town in recent days.
Looking back, there is no doubt that bitcoin as a cryptocurrency happened to be the most valuable cryptocurrency that emerged far back in the year 2009.
You must have heard about Bitcoin, Ethereum or Ripple right!
The cryptocurrency market is getting fast and extremely wild day by day.
Now to the big question!
“What could be the possible reasons for the fast growth of cryptocurrencies?”
The entire prices are driven by increase of the mainstream adoption and rising awareness of cryptocurrency in the public.
In other words, the laws of demand and supply are the crucial factors that affects the prices of this digital currency.
The increase in price of bitcoin over the years has awaken the interest of many investors in different types of cryptocurrency the exit in the world the world.
What is Cryptocurrency
A cryptocurrency is a digital asset designed specifically to work as a medium of exchange using cryptography security to secure its transactions, the control of creating more units, as well as to verify the transfer of assets.
In addition to that, Cryptocurrency is a decentralized digital money for fast and convenient means of payment world wide.
Remember the law of demand! “The higher the demand the higher the price”.
The increasing demand and rise in people’s interest in cryptocurrency is letting its prices touch greater heights.
Welcome to the flight of cryptocurrency. Fasten your seat belts and get ready for take off to a digital world, a world of virtual money. On our arrival, you will be aware of major digital currency that has potentials of growing.
Not till now, Bitcoin had been the leading among other cryptocurrencies.
Bitcoin record breaking and potential to keep growing should not be underestimated.
However, the recent fluctuations in bitcoin daily prices for a while now should be a major concern which must be looked into.
Aside from bitcoin, some other cryptocurrencies has also displayed potentials in them.
Crypto Coins like; Ripple, Ethereum, Litecoin and Bitcoin Cash among others, shouldn’t be left behind.
We will discuss the top cryptocurrencies in the world that has potentials in Nigeria for real time investment.
Top 10 Cryptocurrencies Best for Investment
Bitcoin is the most popular among other cryptocurrencies in the world today. It is also the most valued it terms of exchange to real money.
Over the years, bitcoin has grown unimaginable. Some financial expert has made strong statement that a bitcoin will hit 100,000 USD in years to come.
Bitcoin as a digital currency is based on the peer to peer technology system. A kind of system where transactions are recorded in public a distributed ledger known as Blockchain.
The number of businesses that now accept bitcoin for exchange of goods and services is really on the increasing side.
Most well known e-commerce stores and online shops are not left behind.
The price of Bitcoin have been skyrocketing. It even got to a price above $11,000 for a bitcoin in last month of 2017.
The rise in the price of bitcoin is just unstoppable. Although, most Nigerians believe the price of bitcoin will soon crash. Their point is that, “anything that goes up must surely come down“. But, only time can tell for sure.
To buy a bitcoin you can use your debit or credit card instantly.
The major concern on bitcoin by many countries is that it can be used anonymously. This means that terrorists can take advantage of it, or it can be used for secret missions.
As a result of this, Governments of some countries are putting some level of restrictions on trading and usage of bitcoins.
On the other hand, some governments have legalized this mode of digital system of payment. The truth still remain that bitcoin worth giving a trial over other cryptocurrencies in existence today.
Second in our list is Ethereum. Just like bitcoin, Ethereum is also a decentralized platform for applications running exactly the way it is programmed.
It is programmed to run Smart Contracts based on a custom blockchain.
There are also Ethereum wallets to hold and secure ethereum to deploy and use smart contracts.
In other words, Ethereum is an open software. The platform is based on blockchain technology which focuses on smooth running code of any decentralized application, also know as Dapps.
Ethereums has also been growing over the years. Which and still has the potentials to grow even more.
Ethereum portrays itself like a platform more than a currency. With the rise of Dapps, ethereum should not be over looked. It is really good investment for future gains.
3. Bitcoin Cash (BCH)
Bitcoin Cash (BCH) brings a sound money to the world, fulfilling the original promise of Bitcoin as “Peer-to-Peer digital cash“.
Merchants and users of the bitcoin cash are empowered with low fees and reliable confirmations.
The future of bitcoin cash shines with unrestricted growth, permission-less innovation, global adoption, and decentralized development.
You are welcome to join the growing Bitcoin Cash community as they move forward in creating a sound money accessible to the whole world.
Bitcoin Cash protocol ensures that there will never be more than 21 million coins in existence.
Governments continually print money, endlessly thereby inflating the supply and devaluing people’s savings. But Bitcoin Cash has fixed supply and therefore represents sound money.
Bitcoin Cash network fee for transactions is less than one penny. To convert your Bitcoin Cash into traditional currency, such as US dollars, it cab be done via merchant processors for a cost that is still much lower than the credit card processing.
What is the difference between Bitcoin and Bitcoin Cash?
4. Ripple (XRP)
Ripple can be refer to as a transaction protocol for Global Payments. Ripples helps in transmitting payments globally at a very low rate.
Ripple connects digital asset exchanges, banks, payment providers and corporates via RippleNet to provide one frictionless experience, which is to send money globally.
It is built on advanced blockchain technology which is scalable, secure and incorporates many networks.
Payment providers, digital asset exchanges and banks, process and provide liquidity for payments on RippleNet, therefore creating a new, competitive cross-border payments services available for their customers.
The Litecoin is also a peer-to-peer Internet currency which enables instant, near-zero cost payments wherever in the world.
Litecoin is an open source global payment network platform that is totally decentralized without any central authorities.
Mathematics is used to secures the network and empowers individuals to control all their finances.
Litecoin features a very fast transaction confirmation times and improved storage efficiency.
With industry support, liquidity and trade volume, Litecoin will be proven medium of commerce complementary to Bitcoin.
Miners here are currently rewarded with twenty-five new litecoins per-block.
The Litecoin network is scheduled to produce 84 million litecoins, which is 4x as many currency units as Bitcoin.
NEO was China’s first digital coin. It is a direct competitor of Ethereum.
The NEO coin is more than just a digital currency. NEO is actually a blockchain based framework that allows developers to create Smart Contracts with decentralized applications.
Smart contracts are the next big thing which can be applied to many real life businesses and situations.
Cardano is a decentralized blockchain and crypto project which is also a full open source cryptocurrency project.
This Cardano crypto is developing a smart contract platform that seeks to deliver more advanced features than any protocol ever developed.
It happens to be the first blockchain platform to evolve out of a scientific philosophy. The development team consists of a large collective of expert engineers and researchers worldwide.
EOS is said to be the most powerful infratructure for decentralized applications.
Basically, EOS is a blockchain technology similar to Ethereum. EOS plans to create their own blockchain with a list of impressive features. Some refer to EOS the Ethereum killer.
Stellar is a platform that connects people, banks and payments systems. Integrate to move money more quickly, more reliably, at almost no cost.
This Monero is also a digital currency which offers a high level of anonymity for its users and their transactions.
Monero is a decentralized peer-to-peer cryptocurrency, but characterized as a private digital cash.
Although Bitcoin seems to be the most famous and most preferred cryptocurrency. But potential investors are keeping an eyes price fluctuations in other top virtual currencies as well.
Please note that one needs to be cautious while investing on cryptocurrency no matter the level of profits to it.
However, Crypto Wind is really blowing with full force internationally. It is really disrupting the financial space to a larger extent.
Finally, please note that we are not advising anyone to invest in cryptocurrency. The information we wrote here is for research and awareness purpose only. If you decide to invest in cryptocurrency we will not take responsibility of any loss or damage.