The Basics: What Cryptocurrencies should I Buy?

Since there are over 2,000 cryptocurrencies in existence, it can be hard to choose what ones you should buy.

Ethereum ripple xrp and bitcoin logos behind a mountain at night time

For this reason, we’ve created articles on the three cryptocurrencies that are the most popular with Easy Crypto customers.

We don’t think that just because they are popular that they are worth buying, but rather that they are three very different projects that will provide you with a solid basis on what type of cryptocurrencies you can get involved with. 🙂

bitcoin coin with stacked up coins behind it

1. Bitcoin

Conceived in 2008 during the global financial crisis, Bitcoin was the first cryptocurrency ever made. Since then, it’s paved the way for the two thousand or so other cryptocurrencies that have spawned since Bitcoins creation.

Bitcoin (BTC) is commonly referred to as digital gold, as it shares many of gold’s qualities, and objectively some better ones too.

bitcoin price 2019 coinmarketcap screenshot

Bitcoin is currently the most popular digital asset that people buy through us, at least partly due to the growing belief that Bitcoin is on the forecast for becoming the next Global Reserve Currency.

Bitcoin in 2019 has been a profitable investment 98% of the time since it was created, and it has also been 2019’s global top performing asset.

You can find our simple rundown of why people buy Bitcoin and our buying guide here.

Pink Floyd ethereum logo Test

2. Ethereum

Ethereum (ETH) is what could be referred to as a ‘Smart Coin’, as Ethereum doesn’t only act as a payment network, but also as an infrastructure for many other applications – such as smart contracts (Legal automated contracts).

Ethereum’s utility doesn’t stop at futuristic digital contracts though, as ETH’s use cases go far beyond. Ethereum can be used with digital identity, autonomous organisations, politics, data storage, ICO’s and gambling.

Ethereum price 2019 coin market cap graph

It’s difficult to paint the big picture of Ethereum in a few sentences, but since I got involved in cryptocurrency, when somebody asks me what the future looks like, I typically go straight to thinking about Ethereum and its use cases.

For a basic rundown of how Ethereum’s going to change the world and our walkthrough for buying Ethereum in New Zealand, click here.

Ripple XRP logo ontop of pool of water

3. XRP

Ripples’ XRP is the native token for the Ripplenet – a network of payment providers such as banks and money services who aim to provide a frictionless experience to send money globally.

Often referred to as the ‘Banks Coin’, XRP is designed to be ultra-fast, ultra cheap and ultra-scalable. It currently takes an average of 4 days to make an international bank transfer, but XRP transactions are settled in seconds. For this reason, over 200 major world banks have partnered with XRP, including many well-known conglomerates such as ANZ, Westpac, Western Union, HSBC, and the Bank of America.

 

Ripple XRP price 2019 coin market cap stats

Other entities that are currently partnered with Ripple include The Bank of England, The Commonwealth Bank of Australia, JP Morgan, The Royal Bank of Canada, The National Bank of Abu Dhabi, Barclays, Sony Bank, The Bank of Thailand, Mitsubishi Corporation, and American Express.

Ripple certainly has an impressive list of partners testing XRP, and the list is growing at an average of 2-3 new partners per week.

You can see XRP’s full list of partners here.

Ripple XRP major partners logos

Currently priced at $0.47c NZD per coin, the forecast for XRP appears to looks to be positive. It is generally agreed that the enormous international transaction pie is going digital, and currently Ripple’s XRP is the top contestant for taking the biggest slice.

If you are keen on learning more about XRP or are interested to buy some for yourself in NZ, you can click here to see our full breakdown and buying guide.

The material in this article is for informational purposes only – and this is not financial or investment advice. Do your own research before putting money in anything 🙂