If you want to invest in cryptocurrency, you will be wondering what the best cryptocurrency is. When it comes to which cryptocurrency tops the ranking scale, it's Bitcoin. It has the highest market capitalization, but it has a high price. Based on the ranking scale, it is the best cryptocurrency in 2019.
No recommendation can be given as to which cryptocurrency is actually the best. Everyone has to set their own priorities and decide which cryptocurrency is the best. Bitcoin is not the best cryptocurrency for mining, because you have to invest in a powerful computer and need a lot of energy, which doesn't always pay off.
Table of contents
- What indicates the best cryptocurrency?
- Is there a perfect cryptocurrency?
- Separate the wheat from the chaff
- The best cryptocurrency 2019 measured by market capitalization
- What is the best cryptocurrency to mine?
- Bitcoin as the best cryptocurrency to mine?
- age of a cryptocurrency not critical to best cryptocurrency
- best cryptocurrency 2019 - the most important digital currencies you Should know
- Conclusion: A general statement about the best cryptocurrency is not possible
Act now with the crypto broker test winner IQ Option
What characterizes the best cryptocurrency?
Before you decide to buy a cryptocurrency, you will I'm wondering what the best cryptocurrency 2019 is. Bitcoin is still the cryptocurrency with the highest market capitalization.
It will probably also keep its first place on the ranking scale. It is the oldest and best known digital motto. Bitcoin has a high intrinsic value, which is due to the high cost of mining.
In addition, Bitcoin is the digital currency with perhaps the highest level of security, because in the history of Bitcoin it still happened never hacking incidents. However, Bitcoin doesn't necessarily have to be the best cryptocurrency.
It's expensive and characterized by long transactions. You decide what the best cryptocurrency is by setting priorities. What criteria does a digital currency have to meet to be the best cryptocurrency? The crypto currency must be
- as safe as possible from hacker attacks
- allow fast transactions
- have the highest possible market capitalization
- offer a benefit, because it can be used as a means of payment, for example.
In addition, it is important for various interested parties that a cryptocurrency is well suited for mining. Bitcoin is suitable for mining, but since Bitcoin mining can be expensive, Bitcoin is not the best cryptocurrency for mining.
Many digital currencies are suitable as a means of payment. In order to be considered the best cryptocurrency, a cryptocurrency should also have a large acceptance range. Cryptocurrencies also offer benefits if they enable smart contracts.
Is there a perfect cryptocurrency?
There is no perfect cryptocurrency because there is no cryptocurrency that combines all the advantages. If a perfect cryptocurrency existed, this cryptocurrency would have the highest market capitalization, would allow fast transactions, would be excellent for mining and would have the greatest acceptance as a means of payment.
If there were a perfect cryptocurrency, it would be in addition to all of these Properties in the course will be largely stable. There is no cryptocurrency that meets all of these requirements or comes first in all of these criteria.
Most cryptocurrencies are characterized by high volatility. This high volatility can lead to high profits, but it can also lead to high losses.
When it comes to the best cryptocurrency in 2019 in terms of market capitalization, Bitcoin comes first. It has by far the highest market capitalization. Other cryptocurrencies that have a similar market cap often go head-to-head because of volatility on the ranking scale, so before you invest in a digital currency, you should look at the digital currency exchange rate charts
If a cryptocurrency shows an upward trend, you can assume that the crypto currency has good potential. Not only cryptocurrencies that have been established for a few years have good potential. Some new cryptocurrencies, to which the altcoins belong, also promise good potential.
Evidence of this is Bitcoin Cash, a hard fork of Bitcoin that is very popular and has some advantages over Bitcoin. However, Bitcoin Cash does not have to be the best cryptocurrency in 2019.
Trade the crypto broker test winner IQ Option now
Cryptocurrency Binary Options Broker. Earn Bitcoin 2020
Separate the chaff from the wheat
Altcoins are alternatives to Bitcoin and promise high potential. For many traders, the best cryptocurrency could be among the altcoins. Altcoins include the so-called forks, which differentiate between softforks and hardforks.
Softforks are created by modifying the software, while hardforks are created by splitting off the blockchain. Not all of these forks actually have high potential. Other digital currencies can also count as altcoins, for example Litecoin.
The cryptocurrency market is constantly evolving. New cryptocurrencies are added, while other cryptocurrencies disappear from the market. You should follow the recommendations of experts to find a suitable cryptocurrency.
A look at the white paper can help, because it provides information about the technical details of the different cryptocurrencies and the goals of the developers of the different coins. The white paper will help you identify worthless cryptocurrencies. Such cryptocurrencies never developed their potential, lost their value and turned out to be frauds.
You can recognize worthless cryptocurrencies by the pattern. First of all, these digital currencies are offered at a low price. The price rises massively, but it drops again after a few days. A further exchange rate increase then no longer takes place.
Each cryptocurrency can lose value. One reason for this can be profit-taking when traders sell their shares. However, the price can recover if other traders use the low entry price. If there is no recovery and the downward trend continues, you have to expect the value of this crypto currency to approach zero.
The best cryptocurrency in 2019 measured by market capitalization
it's the best cryptocurrency 2019 by market cap, that's Bitcoin. It is the cryptocurrency with the highest market capitalization, which currently stands at 134.1 billion euros.
The market capitalization is determined by multiplying the number of available coins by the price per coin. Since the price is dependent on supply and demand, it can change constantly.
This affects the market capitalization, which can rise or fall. The market capitalization is determined several times a day. Bitcoin will continue to play a pioneering role in terms of market capitalization. Other cryptocurrencies that are similar in their market capitalization can change their placement in the ranking. Currently, market capitalization is followed by
- Ethereum with 17.139 billion euros
- XRP (Ripple) with 9.56 billion euros
- Tether with 3.782 billion euros
- Bitcoin Cash with EUR 3.764 billion
- Litecoin with EUR 3.216 billion
on the Bitcoin. However, not all of these digital currencies offer properties as the best cryptocurrency. Tether is unknown to many traders, but he has a comparatively high market capitalization. Tether is also known as stablecoin because the volatility is significantly lower than with other digital currencies.
The peculiarity is that Tether is pegged to the US dollar. Tether's rate is evolving like the rate of the US dollar. In November 2017, Tether was hacked. Tether is controversial as a cryptocurrency and is therefore not considered the best cryptocurrency.
Trade the IQ Option crypto broker test winner now
What is the best cryptocurrency to mine?
With the Mining cryptocurrency allows you to earn cryptocurrency without buying the cryptocurrency. They provide computing capacity and are rewarded with cryptocurrency.
Mining can only generate cryptocurrencies that are based on a blockchain. XRP, Ripple's cryptocurrency, is high on the 2019 Best Cryptocurrency list, but this digital motto is not blockchain-based and therefore cannot be generated by mining.
Find the best cryptocurrency to mine, it comes down to a reasonable relationship between mining calculator, energy consumption and reward. Mining Bitcoin is associated with expensive mining computers and a high energy expenditure.
It is becoming increasingly difficult to solve the tasks of checking found blocks. Bitcoin is therefore not the best cryptocurrency to mine. Mining Bitcoin Cash is easier because the investments are significantly lower and the transactions take place much faster.
However, it also depends on the rate of the cryptocurrency so that the mining is worthwhile. Since cryptocurrencies are very volatile and prices fluctuate strongly, it cannot be said in general what the best cryptocurrency is to mine. With various digital currencies such as Bitcoin, Ethereum or Litecoin, miners often combine to form mining pools in order to mine more efficiently.
Mining pools for Bitcoin are the best known. In order not to have to invest in the expensive hardware, cloud mining is also possible, where you rent or buy computer capacity and then receive the digital currency according to the rented or purchased computer capacity.
Bitcoin as the best cryptocurrency for mining?
Bitcoin is the best-known cryptocurrency and is considered the best cryptocurrency for many traders. Whether it is actually the best cryptocurrency depends on the priorities of the traders. Bitcoin could be considered the best cryptocurrency for mining thanks to its good forecast.
However, mining Bitcoin also has a downside. The hardware is expensive and has to become more and more powerful in order to be able to perform the increasingly difficult tasks. It often becomes obsolete within two years. The energy consumption when mining Bitcoin is higher than when mining other digital currencies.
A special feature of mining Bitcoin is the halving of the block, which occurs about every four years. For the miners, that means halving the reward. At first glance, it seems like Bitcoin mining is becoming increasingly unattractive and Bitcoin is not the best cryptocurrency to mine.
Past experience has shown, however, that in the year that occurred the halving of the block followed, so far has always reached a price high. This was also the case in 2017 after a block was halved in 2016.
Bitcoin climbed to its record high in late 2017. A halving of the block is also pending for 2020. A new record high of Bitcoin is expected. If the reward is related to the price, you can get more on the bottom line if you sell the Bitcoin. If the block is halved, the supply is lower if there is an increase in demand.
Act now with the crypto broker test winner IQ Option
Age of a cryptocurrency is not decisive for the best cryptocurrency
Bitcoin is the oldest cryptocurrency and, in terms of market capitalization, the best cryptocurrency in 2019. However, whether a cryptocurrency is among the best does not depend on how long the cryptocurrency has been on the market.
There are crypto currencies that are new and quickly achieve a high market capitalization. The level of awareness makes an important contribution.
Libra, the digital motto planned by Facebook, is to be introduced in 2020. Even now, since this digital currency is not yet available, it is well known and promises great potential.
The controversial discussions among financial experts and banks make an important contribution to this long before the introduction. Libra will be characterized by a high level of benefit and a broad acceptance range, because Facebook was already able to inspire numerous partners for Libra in 2019.
Another advantage that Libra is to offer is the low fluctuations. Facebook wants to link Libra to established means of payment in order to reduce volatility. Despite the fact that Libra will have great potential, politicians and central banks are against the introduction. If Libra is introduced, the digital currency could quickly reach a high market capitalization and occupy a leading position in the cryptocurrency ranking.
Best cryptocurrency 2019 - the most important digital currencies that you should know
If you are looking for the best cryptocurrency in 2019, it could be Bitcoin because it can be used as a means of payment, is suitable for mining, has a high level of awareness and experts expect price increases. Bitcoin is also the digital motto with perhaps the most secure network, because Bitcoin has not been hacked since it was introduced in 2009.
Ethereum ranks second in the ranking and has the second highest market capitalization. Ethereum is also considered a means of payment and is suitable for mining. Ethereum also enables the conclusion of smart contracts, with which the contractual partners ensure compliance with the previously agreed rules. The price of Ethereum is significantly lower than that of Bitcoin.
Ripple has a price of significantly less than 1 euro, but this digital motto also has potential. Ripple is not based on a blockchain and cannot be generated by mining. The development of Ripple is not yet complete. Upon completion of the development, Ripple will serve as a payment method and trading platform.
Bitcoin Cash is perhaps the best-known hard fork of Bitcoin and is described by some traders as the best cryptocurrency. Bitcoin Cash enables fast transactions, security and quick mining. The price is significantly lower than that of Bitcoin.
Litecoin is comparable to Bitcoin because the system is very similar. However, the price is significantly cheaper.
Act now with the crypto broker test winner IQ Option
Conclusion: It is not possible to make a general statement about the best cryptocurrency
A general statement as to which is the best cryptocurrency can not be hit. For a cryptocurrency to be one of the best, it has to have different characteristics.
It has to offer a benefit and be considered safe. In terms of market capitalization, Bitcoin is the best cryptocurrency 2019, but it is expensive and the mining is connected with powerful hardware and a lot of energy.
Even a general statement about the best cryptocurrency for mining cannot be made. The course plays an important role in making a cryptocurrency attractive for mining. You should consider expert recommendations when looking for the best cryptocurrency. Experts provide information on the most important properties of digital foreign exchange and its special features.