It's not a new fact that cryptocurrencies, especially Bitcoin are drastically increasing in its value. Some researchers have said that Cryptocurrencies have limitless potential whereas the critics say that there is a lot of risks involved.
There's nothing wrong in saying that the future of cryptocurrencies is going to be full of potential as history has been quite well.
Let's know about some of the most profitable cryptocurrencies that may be going to explode in the coming years.
Why maybe? Because we aren't sure of any upcoming natural or economical disaster that may disrupt the growth of cryptocurrencies.
Which Cryptocurrency Is The Most Profitable?
-The answer is Bitcoin (BTC).
Why Bitcoin is acknowledged as the most profitable cryptocurrency?
There was a time in 2010: A guy made the first real transaction using Bitcoin. He paid around 10,000 Bitcoins to get a pizza worthing $30. Right now those 10k Bitcoins would worth $57m.
Let us know what exactly made Bitcoin the most profitable cryptocurrency:
1. The rarity of cryptocurrency makes it more valuable. Bitcoin's quantity is just limited to 21 million which is quite small if compared to the fiat or real currencies circulating around the world.
2. Another term that makes a cryptocurrency more rare/profitable is divisibility. Bitcoin is divisible up to 8 decimal points. The eighth unit after the decimal point is called 'Satoshi'.
Divisibility plays a crucial role in determining the future of cryptocurrency as not everyone can buy or make a transaction of a whole single Bitcoin that is worth around $50k.
3. Supply and demand also play an important role in deciding the value or price of a single Bitcoin. The demand is currently high as compared to the supply which makes a bitcoin worth a lot.
About Supply and Demand: Suppose a cryptocurrency has a limited supply/stock and suddenly the demand for the cryptocurrency increased. This will increase the price of a single unit of that cryptocurrency.
Conclusion
Bitcoin is currently the most profitable cryptocurrency and researchers say that the expected price of a bitcoin is soon going to touch $1 million within a few years.
-Second most profitable Cryptocurrency is Ether.
0.07 Bitcoin (BTC) = 1 Ether (ETH).
Ether use Ethereum, the first cryptocurrency to offer a 'Turing-complete programming language' which enables the developers to create any code they wish and can deploy an application, unlike Bitcoin. More importantly, Ethereum has more developers than any other cryptocurrencies, even more than Bitcoin. Ether is also known as the bad boy of the financial world by Forbes.
The versatility of Ethereum is massive. Ethereum is a decentralized software platform, also known as the building block that can be used for multipurpose Distributed Applications and SmartContracts that run without any third-party control in a safe and ordered manner. Ether is profitable because its value has grown by a lot in a small span of period.
-Third most profitable Cryptocurrency, Binance coin.
0.008 Bitcoin (BTC) = 1 Binance Coin (BNB).
Binance is one of the most reputable and growing Cryptocurrency. According to a prediction by experts, the value/price of a single Binance Coin is going to surpass $2300 by 2025. The exchange is quite simple for newbies. The maximum supply of Binance Coin is roughly 170k. It is a low-fee exchange.
The price of a Binance grew by more than 300% in 2021, so expecting good to come soon and investing in BNB is worth it. Binance Coin was built upon the Ethereum blockchain, right now, Binance has its own blockchain. Binance is not as volatile as Bitcoin and due to this, it is comparatively safer to invest. The value of BNB increased by 15% at the end of February 2020.
Cryptocurrency | Price (USD) | Market Capitalization | Year Of Release |
Bitcoin (BTC) | $44,784 | $841.7B | 2009 |
Ether (ETH) | $3,241 | $381.4B | 2015 |
Binance Coin (BNB) | $398 | $66.8B | 2017 |