With October being halfway done, we take a look at top 10 cryptocurrency that will be profitable for you this month
It is safe to say that the cryptocurrency industry is still in its early stages and it is still very volatile. Whenever there is an price increase investors are attracted to the industry and whenever the market crashes they in heavy losses, but there are still certain strategies that you can use to make profit with cryptocurrencies.
So let’s take a look at the top 10 cryptocurrencies you should invest in this month.
BITCOIN (BTC)
Of course this cryptocurrency is number 1. With market cap over 64 billion dollar the Bitcoin is the original cryptocurrency. Bitcoin runs on a blockchain and is distributed across a network of thousands of computer and Bitcoin is one of the safest cryptocurrencies you will ever encounter
And the superb rise of the tries is yet another proof that Bitcoin is here to stay and why this coin is still number one full stop the price has skyrocketed from $43000 on September end and it is now sitting at around 62000 just in under a month
Many crypto experts are now predicting that Bitcoin will reach around $100000 by the end of this year or around February of next year.
So if you ever wanted to invest in Bitcoin and think the prices are too high right now, you need to go in before they go even higher!
ETHEREUM (ETH)
No price for guessing what the next cryptocurrency in this list is. Ethereum is the second largest cryptocurrency with the market cap of over 353 billion dollars.
Any theorem is also a favourite for program developers because of its potential real life application like smart contracts that automatically execute when conditions are met.
Not to mention the new big hype non-fungible tokens (NFTs) along with the tremendous growth in the cryptocurrency in the past few years.
Just in the last five years, the price went from 11 dollars and is now sitting at $3800, which is well over 35000 % profit
TETHER (USDT)
Unlike other forms of cryptocurrency, tether is a stable coin which means it is a union between Fiat currency is like US dollar and the Euro and also keeps a value equal to one of those currency.
If you are looking for a stable coin, this is the one you should go for as its value is supposed to be more consistent than other cryptocurrencies and it is favoured by investors who are worried about the extreme volatility of other coins
CARDANO (ADA)
Here’s where things get interesting. With the market cap of over 67 billion dollars cardano was late in the crypto seen but still is one of the most well received cryptocurrency currently.
Cardano is mostly famous for its early utilisation of proof of check validation which reduces transaction time and decreases energy usage and also helps the environmental impact by removing the transaction verification process like the one present in Bitcoin.
Cardano also works with at therium to enable smart contracts and decentralized application which are powered by Ada its native coin.
Binance coin (BNB)
Another ever growing coin is binance coin which is a form of cryptocurrency you can use to trade and pay fees on binance.
With the market cap of over 64 billion dollars, and a utility in binance which is one of the largest crypto exchanges in the world, binance coin has expanded past its initial use of trades on exchange platform
Now you can use binance coin for trading, payment processing or even book travel arrangements it can also be traded or exchange for other forms of cryptocurrency such as etherium or Bitcoin.
Its price in 2017 was just $0.10, by the end of September 2021, it had risen to over 382 dollars which is more than 382 thousand percentage growth!!!
Polka Dot (DOT)
This is one of the most underrated cryptocurrency which is due to blow up in the near future
With the market cap of 428 billion dollars, polka.in to integrate the number of blockchain and create a cryptocurrency network that would help connect all different kind of blockchain so they can work together with each other.
This could change the entire crypto seen on how cryptocurrencies are manage and it has also shown impressive growth since its launch in 2020.
Just in the last year alone the price of this cryptocurrency grew more than 900% and it will go even higher as crypto scene becomes more and more mainstream.
XRP (XRP)
Market cap : over $44 billion
One of our favourite coins and a great coin to start your portfolio with as this coin is much much cheaper compared to any other coin in this list currently, xrp who was created by some of the same founders as ripple which is a digital technology and payment processing company.
Xrp can be used on that network to facilitate exchanges of different currency type including Fiat currency and other major cryptocurrency too
With the price of justice 0.94 dollars at the end of September, this is a great point for anyone who is just getting into the crypto scene.
USD COIN (USDC)
A coin similar to tethar, USD coin is a stable coin which is backed by US dollar and AIMS for a 1 USD to 1 USDC ratio.
With the market cap of over 31 billion dollars and powered by ethereum, you can use USD coin to complete global transaction.
Solana (SOL)
Developed to help power decentralized finance uses, decentralized app and smart contracts, solana runs on a unique hybrid proof of check and proof of history mechanism that help it process transaction quickly and securely.
The sol token which powers the platform which was launched in 2020. The initial price of the token was 0.77 dollars but is price has risen to almost $140 which is a gain of 18000 percentage
DOGECOIN (DOGE)
And last but not the least, we have one of our favourite mean coins in this list.
With the market cap of over 26 billion dollars, dogecoin was created as a joke but has now gained really big fame thanks to celebrities and billionaires like Elon Musk and it doing rounds on Twitter.
Unlike other cryptocurrencies, there is no limit on the number of those coins that can be created but all the means and everything else on social platform has been helping the price for dogecoin to rise up steadily for the past few months.
Be very that the unlimited supply also lives this coin more prone to devaluation as more and more coins are created and circulated in the market.
But that does not stop the price rise for this mean coin as it has seen more than one hundred thousand percent increase since it was formed!