Top 5 Best Cryptocurrency for Investment in India

The cryptocurrency industry, which is still in its early stages, has acquired a lot of traction and has attracted the interest of numerous young Indian investors. Retail and institutional investors are becoming interested in digital currency as a long-term and short-term investment. Cryptocurrencies such as Bitcoin and Ethereum are undoubtedly among the most well-known cryptocurrencies. Young individuals who want to participate in the cryptocurrency business are unsure where to start. Profit and loss are, however, a feature of the crypto sector, just as they are in the stock market, and are susceptible to market risk.

Crypto assets, a new cutting-edge investment class, have outperformed the market by more than 1000 percent in the previous year. Coins and tokens with solid fundamentals have the potential to grow in the future. Bitcoin, Ethereum, Cardano, and other cryptocurrencies have already established themselves as the most deserving candidates in the crypto sector

Crypto space and alternative investment industry are no longer obscure to investors, but have instead matured into a mature market. Not only is it a shelter for techies and nerds, but institutional investors and traditional investors have begun to put their faith in it and have increased acceptability. This has been demonstrated by the high amount of growth.

Not only this, meme coins/tokens and the entire globe are on the edge of their seats. Due to recent price increase, global markets are listing Doge and Shiba Inu, which are catching everyone’s attention.

Here, we’ll look at five cryptocurrencies that have consistently topped the market capitalization charts and might be strong long-term investments.

Bitcoin (BTC)

Bitcoin (BTC) is the first cryptocurrency, having been created in 2009 under the pseudonym Satoshi Nakamoto. BTC is the world’s largest cryptocurrency and is often known as ‘digital gold.’ The market capitalization of Bitcoin is US$1.151 trillion. Bitcoin’s price per token has increased by nearly 113 percent in the last year, reaching a new all-time high of almost $67,000 per token. Bitcoin accounts for 46% of the worldwide cryptocurrency market.

Today, Bitcoin is the most widely used cryptocurrency in India. It’s most likely due to the fact that BTC is one of the most established and reputable cryptocurrencies on the market. Its underlying technology encourages innovation, and its value encourages investment in other cryptocurrencies. Its recent acceptance by many significant IT firms and countries like El Salvador has skyrocketed its worth.

Ethereum (ETH) 

The Ethereum blockchain is gaining popularity quickly and is virtually always in rivalry with Bitcoin. Ethereum, often known as ether, is the second-largest cryptocurrency by market value, with a market capitalization of $469 billion. Ether’s market share in the cryptocurrency industry has lately risen from 18% to 20%. It’s a decentralised blockchain network that eliminates the need for third-party intermediaries. According to the research, the price of Ether each token has increased by 458 percent in 2021 trade.

Ripple effect (XRP)

Ripple, which was founded in 2013, is one of the most valuable digital asset projects in the world, with a market valuation in the tens of billions of dollars. Ripple is still a low-value crypto currency, with a total quantity of 100 billion XRP tokens. Ripple is now utilised for cross-border payments by over 250 banks and boasts a fast transaction processing time and low costs.

Dogecoin (DOGE)

Dogecoin is a meme coin, a cryptocurrency inspired by or based on memes. There are 128 meme currencies with a market capitalization of more than $44 billion. Dogecoin is the most valuable meme coin, with a market capitalization of US$38.657 billion.

Since its inception, DOGE currency has had a high mining rate. Dogecoin received a lot of attention from Reddit users and, of course, Elon Musk in 2021. Interestingly, along with Bitcoin and Ether, Elon Musk also owns Dogecoin.

Shiba Inu (SHIB)

Shiba Inu rocketed to new highs on Sunday, becoming the 11th-largest cryptocurrency by market capitalization. SHIB, which was founded in 2020 by an unknown individual going by the name Ryoshi, was up 50% on Sunday and hit a new high. The website for the Shiba Inu coin describes it as “a decentralised meme token that grew into a dynamic ecosystem.”

Shiba Inu rose over 40% in September 2021 when Coinbase announced that its clients may trade, transmit, receive, and store SHIB on its platform. The Shiba Inu has a market capitalization of $44.762 billion dollars.

Shiba Inu is seeing a record-breaking surge this week, and it is expected to become one of the market’s top cryptocurrencies. It began as a joke and soon grew in popularity as a community of investors were attracted in by its instant appeal, as well as tweets from prominent tech figures. The ‘dogecoin killer’ is another name for it.

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