Plenty of people, when someone mentions cryptocurrencies, automatically think of Bitcoin. If you are new to the cryptocurrency game, you should know that Bitcoin and cryptocurrency are not synonyms.
Sure, Bitcoin has been around for quite some time now and it’s definitely a pioneer, but it’s not the only cryptocurrency worth investing in.
That being said, here are the 3 different cryptocurrencies you should consider having in your portfolio. Also, see this article from Time.com on how many cryptocurrencies you should own in your portfolio.
Ethereum (ETH)
Sources like https://mrcrypto.io claim that Ethereum is one of the cryptocurrencies that should be in everyone’s portfolio. The fact that its market cap is over $357 billion definitely supports that claim.
One of the things you should know is that Ethereum is both a cryptocurrency and a blockchain platform. It’s safe to say that this cryptocurrency is a favorite among developers because of features like smart contracts that are auto executed when the necessary conditions are met and non-fungible tokens (NFTs).
Another thing that places Ethereum among the big players is the tremendous growth in the last five years. To be specific, Ethereum’s price went from $11 to over $3,000. Pretty impressive, wouldn’t you agree?
Dogecoin (DOGE)
Brad Pitt’s legendary line from Snatch goes like this – d’ya like dags? We ask you the same thing, just a little bit differently – do you like DOGE? Of course, you do, especially since its market cap is over $40 billion. This definitely earns it a spot in your portfolio.
It started as a joke in 2013, but thanks to creative memes and endorsements from celebrities like Elon Musk, Dogecoin became a viable option for many investors. Unlike the majority of cryptos, there is no limit regarding the number of Dogecoins that can be created.
You should know that this leaves the currency susceptible to devaluation after the increase in supply. However, Dogecoin’s price in 2017 was $0.0002. In August 2021, its price was $0.31. This is a 154,900% increase and it might encourage you to invest in it.
Binance Coin (BNB)
If you think about investing in cryptocurrencies, The Binance Coin should be in your portfolio. This is a crypto that you can use to trade and pay fees on Binance, one of the most trusted crypto exchanges in the world. It can also be used for payment processing and booking travel arrangements.
Binance coin can be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin. Back in 2017, its price was $0.10. In August 2021, the price was $419.