When Bitcoin took over the digital world, there were many who made investments in it and started making a profit of it. If you are looking for a long-term commitment to gain a sizable profit, then you need to look at cryptocurrencies that will last the test of time owing to their applications and actual uses instead of the ones that are trending because people are buying them to look cool. For example, a cryptocurrency like Ethereum, which is the base for many other cryptocurrencies, is sure to last for a long time. Ethereum price INR is sure to climb and will be more after a few years. The cryptocurrencies that have a bright future can help you create the profitable portfolio you are looking for. Let us take a look at these cryptocurrencies.
- Bitcoin – The one that has been leading the market of crypto for years together is Bitcoin. Launched in 2009 by a scientist with a pseudonym, Bitcoin has come a long way. The blockchain is a ledger that holds transactions and miners who have to solve complex problems are rewarded with Bitcoin. Bitcoin works on the concept of Proof of Work. The BTC to INR value in February 2022 is 32,92,369 rupees. This cryptocurrency is sure to be a success in the future.
- Ethereum – Ethereum is the second leading cryptocurrency in the world. Most people believe it is sure to surpass Bitcoin soon. One of the most successful altcoins, it has managed to overtake Litecoin and other altcoins that were already existing when Bitcoin was launched. From April 2016 to February 2022, the Eth to INR value climbed from 822 rupees to 2,31,791 rupees. Ethereum is the base of many other blockchains and it has real-world applications as well.
- Binance coin – The Binance coin is a cryptocurrency used on Binance for trading. It can be used to pay the commission and make the process of transferring funds much easier. Launched in 2017, the Binance coin has grown by 377,000%. It can be used for trading on the platform, for booking travel tickets, can be traded as a commodity, or can be exchanged for other cryptocurrencies.
- Polkadot – Cryptocurrencies can use multiple blockchains and the goal of Polkadot is to integrate them by creating a cryptocurrency network so that blockchains can work together. This integration has completely transformed how cryptocurrencies work and has seen growth in the last 2 years.
- Ripple – Ripple was introduced in 2012 and the goal of ripple has been to focus on streamlining the use of cryptocurrency in absence of regulatory authorities. XRP is the cryptocurrency used on the payment platform used on Ripple for financial transactions. XRP was launched to streamline the usage of cryptocurrency. Many financial institutions have shown faith in this cryptocurrency by adopting the payment method. The list of international banks that support Ripple is growing by the day. If Ripple’s network keeps growing, the value of XRP will keep growing as well.
- Cardano – Cardano is known for its use of the concept of Proof of Stake and Ethereum is going to follow suit soon. It reduces energy usage and the environmental impact as compared to Proof of Work which is being used by most cryptocurrencies as a security model. This method also enhances the transaction time by removing the need for solving complex problems.
- Tether – Tether is one of the most popular stablecoins and it is backed by FIAT currencies like the dollar and the Euro. Theoretically, Tether has a value equal to one of the FIAT currencies. Stablecoins are being preferred by investors who are looking for stability in this extremely volatile market.
- Terra (LUNA) – Terra is a payment platform that works on maintaining a balance between 2 types of cryptocurrencies. Terra-backed stablecoins are equivalent to the value of FIAT currencies. This platform is powered by LUNA, which is used to mint more Terra stablecoins. They both function in tandem to manage the demand and supply.
These cryptocurrencies have the potential to spike your profits and make you wealthy. The point of investing in cryptocurrencies with a bright future is so that you can trade them or use them for payment. These cryptocurrencies have a lot of untapped potentials that are sure to make them more valuable as time goes on.
If you are looking to trade, you should start by looking at exchange platforms and investing your money the right way. One of the most amazing platforms that you can use in India is CoinSwitch. It is an easy-to-download app that can help you on your journey to making profits with crypto!