The cryptocurrency industry is relatively new. However, the space is shrouded with risks, keeping many new investors away. Many investors look away from crypto due to its volatility and the sheer number of scams. However, there are some cryptocurrency tokens with minimum risks best suited for beginners.
Also Read: Top 3 Cryptocurrencies That Can Turn $5 Investments into $500
Top 3 cryptocurrencies with minimum risks
Bitcoin (BTC):
Bitcoin (BTC) is the first cryptocurrency and one of the safest. BTC is also the best-performing asset of the last decade, growing by over 30,000% since 2013. The Bitcoin (BTC) network is also one of the most decentralized, making it safer than many others.
Many analysts and financial institutions anticipate BTC’s price to reach the $100,000 mark before the decade ends. Hence, BTC is among the safer bets for beginner investors in the cryptocurrency space.
Ethereum (ETH):
Ethereum (ETH) is the second-largest cryptocurrency by market cap, right behind Bitcoin (BTC). The ETH network is also home to the second-highest number of Dapps (decentralized applications) built on it. Developmental activity is a good measure of the asset’s future performance.
Also Read: Ethereum: Standard Chartered Predicts ETH May Hit $35,000
Moreover, global financial institution Standard Chartered predicts ETH could reach a price of $8,000 by 2026 and $35,000 in the long term. These predictions make the cryptocurrency a safe bet for new investors.
XRP:
XRP is one of the most popular cryptocurrencies for cross-border remittance. However, Ripple, the fintech company that uses the XRP token, is engulfed in a legal battle with the SEC (Securities and Exchange Commission). A US district court ruled in favor of Ripple last year, stating that selling XRP to retail clients did not breach securities law. However, the lawsuit has entered the high court, and investors await a verdict. There is a chance that the high court will rule similarly to the district court.