What are the top 5 cryptocurrencies for beginners?

Everyone wants cryptocurrency these days. And, in recent years, more people than ever before are investing in cryptocurrencies and enjoying a healthy return on investment as a result.

But what is cryptocurrency and what are the best cryptocurrencies for beginners?

What is cryptocurrency?

A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend – hence its popularity! Basically, you invest money into a crypto coin and collect interest and fees from the blockchain transaction, which is a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.

And, if you’re looking to invest in cryptocurrency, you have certainly landed in the right place, particularly if you’re a beginner. We’ve rounded up the top 5 cryptocurrencies for beginners so that you can hopefully get off to a great start! Oh, and remember, all you need

Is an account with an online broker that offers your chosen cryptocurrency and payment method to get started!

  

LBLOCK – Lucky Block

Known as an innovative ‘crypto-lottery’ platform, Lucky Block is one of the best crypto currencies to buy in the UK and is designed to provide lottery players with a more rewarding experience compared to traditional lottery tickets. Lucky Block is also renowned for conducting daily prize draws with higher odds of winning for each contestant.

All transactions on the Lucky Block platform will be visible on the public ledger as it is hosted on the block chain.

 

BTC – Bitcoin

Since the launch of Bitcoin in 2009, this cryptocurrency has continued to grow in popularity and as a result, holds a significant portion of the total market capitalisation of cryptocurrencies.

Known as a natural choice for any investor looking to enjoy a competitive advantage, Bitcoin is a unique currency that offers a whole host of different benefits due to the fact that it continues to dominate crypto charts.

 

DOGE – Dogecoin

 Dogecoin dominated the world of crypto currency throughout 2021 and as a result, many investors were quick to invest after it was listed on popular trading platforms.

This cryptocurrency currently ranks 11th in terms of market capitalisation and one of the main benefits of this crypto currency is that there is no upper limit to how many Dogecoins can be mined, which means that supply is unlimited!

 

Litecoin

Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world, allowing individuals to control their own finances. One of the main features of Litecoin is its faster transaction confirmation times and improved storage efficiency that make it a hit with beginners.

 

Ethereum (ETH)

Known as the second largest cryptocurrency in terms of market cap, Ethereum has grown significantly since it was first launched in 2015. Renowned for creating smart contract and boasting transaction speeds that are faster than Bitcoin, Ethereum has gained a massive amount of support from major software and banking corporations.

 

Why choose React Accountancy?

Here at React Accountancy, we provide trusted accountancy services to start-up, established and multi-national businesses across a diverse range of industries, including crytpo accountancy advice.

From the moment you get in touch, our approachable, friendly and professional team will go above and beyond to ensure that you receive the right advice, support and accountancy solutions for your business.

All of our team has years of experience in providing accountancy services that support your business including complex financial issues.

Get in touch today for further information about any of our services.

You can reach us on 01914324110 or contact us via email using info@reactaccountancy.co.uk

 

** Please note, the information contained in this blog post is not financial advice. Always seek the relevant advice before investing in any crypto currency  **

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