Cryptocurrency has been a hot topic for some time now; you’ve probably heard of bitcoin, Binance, and many others.
Unlike the physical currency, cryptocurrency is not governed by a central authority. Some cryptocurrency’s values are projected to rise while others are declining in value. Therefore, observing the trend of each currency before you buy is necessary.
This article looks at the best crypto to buy right now Australia so that you can avoid losses and maximize your profits.
1. Bitcoin
Bitcoin is a decentralized digital currency, and one can transfer it on a peer-to-peer network. It is the most stable cryptocurrency because it has been around for a long time. It was launched in 2009 by Satoshi Nakamoto.
Bitcoin is built on Blockchain, a linked body of data composed of units containing information about each transaction. Bitcoin is secure because each unit addition must go through a cryptographic process. It has a broader market share and valuation than other options.
2. Ethereum (ETH) Cryptocurrency
Ethereum is a cryptocurrency and a blockchain platform. It can be used to create a cryptocurrency and deploy smart contracts, an Ethereum account type that automatically executes transactions once certain conditions are met. Ethereum is very popular and has a considerable market share.
3. The Binance Coin (BNB)
Binance coin is used for transactions and payments on the Binance exchange, an online-based exchange for cryptocurrencies. It supports most cryptocurrencies and has become the primary trading currency globally. Binance was launched in 2017 by Changpeng Zhao. It is relatively cheap and has proven resilient to the volatile market, making it the best crypto to buy right now in Australia.
4. Tether (USDT) Cryptocurrency
Tether is an asset-backed cryptocurrency. It was launched in 2014 by Tether ltd and is pegged by fiat currencies such as the USD and physical assets such as gold or diamonds. It is not affected by market volatility like other cryptocurrencies. Therefore investors who want to invest in cryptocurrencies while avoiding the high risk associated with the market may prefer it.
5. The Avalanche (AVAX) Cryptocurrency
Avalanche is a blockchain platform that also supports smart contracts. It was launched in 2020 by Ava labs. It is relatively cheap to transact. Avalanche offers incredible speed and scalability because its three decentralized blockchains can validate transactions differently.
It combines scaling capabilities with quick confirmation times through its Avalanche Consensus Protocol. Its native token is known as AVAX. Avalanche users need AVAX to pay for transaction fees on the Avalanche platform.
6. Cardano (ADA) Cryptocurrency
Cardano is an open-source, decentralized blockchain platform. It can facilitate peer-to-peer transactions with ADA; its cryptocurrency Consensus is achieved through proof of stake. A consensus is an agreement of a particular value on a protocol, and proof of stake is the mechanism for the accord. It is relatively cheap and fast to complete transactions in Cardano.
7. The Ripple (XRP) Cryptocurrency
Ripple is another cryptocurrency platform and a money transfer network. Its cryptocurrency coin is XRP, an open-source blockchain that facilitates faster and cheaper payments. It was founded in 2012. Its founders were Jed McCaleb and Chris Larsen. You can buy XRP as a cryptocurrency and use it to transact.
Summary
Digital currency is projected to grow tremendously and change the way we do transactions. It is therefore essential to buy one. Some of the best crypto to buy right now in Australia include; Ripple, Bitcoin, Cardano, Avalanche, Tether, Binance Coin, and Ethereum.