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The Best Cryptocurrencies for Beginners
Factors to Consider
When choosing the right cryptocurrency for beginners, there are several key factors to consider:
- Volatility: Cryptocurrencies can be highly volatile, so it's important to choose one with a track record of relative stability.
- Liquidity: You want to choose a cryptocurrency that is easy to buy and sell, with high trading volume.
- Usage: Consider how you plan to use the cryptocurrency. Some coins are primarily used for investment, while others have more practical applications.
- Reputation: The reputation of the cryptocurrency and its team is also important. Do your research to make sure the project is legitimate and has a good track record.
Recommended Beginner-Friendly Cryptocurrencies
Here is a list of novice-friendly cryptocurrencies that meet the above criteria:
- Bitcoin SV (BSV): A fork of Bitcoin that offers faster transactions and higher scalability.
- USD Coin (USDC): A stablecoin pegged to the US dollar, making it less volatile than other cryptocurrencies.
- VeChain (VET): A blockchain platform for supply chain management and tracking.
- TrueUSD (TUSD): Another stablecoin pegged to the US dollar, designed to provide greater stability.
- Holo (HOT): A decentralized hosting platform that allows users to rent and share computing resources.
Remember, investing in cryptocurrencies is not without risk. It's important to conduct thorough research and only invest what you can afford to lose.
Historical Snapshot
As of 07 January 2018, here is a historical snapshot of all active cryptocurrencies:
- Total number of cryptocurrencies: 1,554
- Total market capitalization: $798 billion
- Top 10 cryptocurrencies by market capitalization: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Stellar, Cardano, IOTA, TRON