What is the best Cryptocurrency for beginners?
If you’re just starting out on your digital currency journey, it pays to start slow and remember that there’s safety in numbers. The most popular Cryptocurrencies didn’t get that way by accident: they got there by being usable and well-supported. While you can make startling returns trading some of the most obscure coins, it’s high-risk and not something for people new to Cryptocurrency.
Bitcoin wasn’t the first attempt at a digital currency, but it was the first successful one. Created by visionary Nakamoto Satoshi and Hal Finney, it was a response to the financial crisis of 2008: indeed, in the first “block” of Bitcoin’s blockchain, there is a reference from the UK’s “The Times”:
“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”
And an entirely new financial network was created that, 13 years later, is still prospering.
But why is Bitcoin suitable for beginners?
Basically: it’s everywhere. Everything Cryptocurrency-related supports it, it’s hack-proof, and it’s got a long and distinguished history. Also, people have heard of it (which isn’t true for almost any other Cryptocurrency). This makes it a lot easier to explain to your family what you’re doing!
If Bitcoin is the Coca-Cola in the Cryptocurrency industry, Ethereum is Pepsi. It’s found next to Bitcoin everywhere that Crypto is supported. It’s well-established and safe, although a forthcoming upgrade to Ethereum 2.0 might mean temporary instability.
It’s also more useful than Bitcoin because it’s used to pay transmission fees for sending other Cryptocurrencies around, and forms the bedrock of the NFT network.
Both of these Cryptocurrencies have the same high volatility that most Cryptocurrencies have: the value against the dollar and other fiat currencies can fluctuate unpredictably. This might mean your investment drops in value, though generally, Cryptocurrencies recover if you wait long enough.
One of the easiest ways to make a return from Cryptocurrency is to use our platform at AQRU to deposit your Crypto and earn interest on it: for instance, 1% for Bitcoin and Ethereum. While the value of your investment can go up and down, leaving it within our platform to accumulate generally makes more sense, and you can exit at any time if the price has gone up so much you want to sell. And if you do, you have more Crypto than you started with!
If that sounds too risky, then Stablecoins may be for you. A Stablecoin is a Cryptocurrency that’s pegged itself to a real-world asset. For instance, the Cryptocurrency USDC pegs itself to the US Dollar.
Buying a stablecoin makes no sense if you want your investment to increase in value, but it makes sense if you want to earn more digital dollars than you could earn through traditional banking. As an interest-generating platform, we leverage the way Crypto lending works to offer interest rates of up to 7% on stablecoin deposits. You even get 10USDC invested instantly for you when you sign up. Because the minimum deposit is only 100 euros, it’s easy for beginners to start, and you can even buy Crypto from within the app, saving a lot of hassle. To start your Cryptocurrency earning journey, sign up with AQRU today.