Cryptocurrencies have exploded in popularity over the past few years, with the total crypto market cap surpassing $3 trillion in 2021.
With over 27,000 cryptocurrencies in existence, it can be overwhelming trying to determine which ones are worth investing in.
As the first and largest cryptocurrency by market cap, Bitcoin is the obvious choice for investors new to crypto. Created in 2009 by the pseudonymous Satoshi Nakamoto, Bitcoin pioneered decentralized, peer-to-peer digital cash without third parties.
Here’s why Bitcoin should be on your buy list for 2024:
- Dominant market position — Bitcoin comprises over 40% of the total crypto market cap. Its size and liquidity provide stability amidst market volatility.
- Digital gold — With a fixed supply of 21 million coins, Bitcoin is considered “digital gold” for store of value. Its supply cap prevents inflationary debasement of the currency.
- Mainstream adoption — From banks to hedge funds to Fortune 500 companies, institutional adoption of Bitcoin continues to rise. El Salvador even adopted it as legal tender in 2021.
- Brand name recognition — Bitcoin is synonymous with cryptocurrency for most people. Its first-mover advantage has cemented its position as the gateway into crypto investing.
- Security — The Bitcoin network is secured by an enormous amount of computing power, making it virtually unhackable. Its proven track record provides peace of mind for long-term investors.
Ethereum is much more than just a cryptocurrency — it’s an entire blockchain-based software platform that enables smart contracts and decentralized applications (dapps) to be built and operated without fraud or third-party interference.
Launched in 2015, Ethereum pioneered the concept of an all-in-one digital finance and software platform. Here are some key advantages of Ethereum for 2024:
- Dominant dapp platform — Over 3000 dapps run on Ethereum, including major DeFi, NFT, and metaverse applications. Ethereum has the…