18 Oct 2021
Overview
  • 'Blockchain', 'decentralised structure' and 'market capitalisation' isn't plain English to someone who can hardly rub two brain cells together. So WTF is cryptocurrency? 🥵
  • What are the top 5 cryptocurrencies rn without the mumbo jumbo? 🧐

 

Back in the day, when someone was droning on about Bitcoin, this happened to my brain:

I mean seriously. 'Blockchain', 'decentralised structure' and 'market capitalisation' isn't plain English to someone who can hardly rub two brain cells together.

I ain't the sharpest tool in the shed (sorry for getting All Star in your head lol), but I still deserve to invest my dosh like everyone else. 

So I went digging... and now I'm deep in the crypto game. But I'm still a space cadet who just wants things told to 'em straight. So here are five of the best cryptocurrencies to invest in as of October 2021! I'm not gonna BS you with all the terminology. We're gonna keep this quick 'n easy 😉

🥵 WTF are cryptocurrencies 🥵

Ok. Cryptocurrencies don't physically exist. You can't hold 'em or pull one out of your wallet. Even so, they're still a form of payment that can be exchanged online for goods and services. 💸

Think of them as if they're arcade tokens or casino chips. You’ll need to exchange real currency (ie. the dosh you earnt from your hospo job) for the cryptocurrency to access the good or service. If you want a more in depth overview, suss out our article here! 

🧐 Which cryptocurrencies should I invest in? 🧐

Great q. More than 10,000 different cryptocurrencies are traded publicly (according to CoinMarketCap.com.) Back in '08, Bitcoin was the OG cryptocurrency, described as a "purely peer-to-peer version” of electronic money. 💰

Here are the five best ones rn.

@theinspiredunemployed Seems to be a lot of experts in crypto currency lately 📈💰#bitcoin #coinspot ♬ original sound - T.I.U

1. Bitcoin (BTC)

What it's worth: Over $821 billion

We've all heard of Bitcoin. It's price has skyrocketed as it’s become a household name. Five years ago, you could buy a Bitcoin for about $500. As of Sept. 30, 2021, a single Bitcoin’s price was over $43,000. That’s a growth of about 8,600%. (Bear in mind, when we're talking about dosh in this article, it's in US dollars 😉)

Thanks to things like blockchain and a ledger logging transactions and cryptographic puzzles, (oohp, the monkeys about to come back to my brain...) Bitcoin is secure and safe from fraudsters. Can somebody please lend me a time machine?

2. Ethereum (ETH)

What it's worth: Over $353 billion

The goss with Ethereum is that it has experienced some hectic growth. In just five years, its price went from about $11 dollars to almost $3,000 US dollars, increasingly more than 27,000%. Bitcoin and Ethereum have always been the two top dogs in the crypto world.

3. Cardano (ADA)

What it's worth: Over $67 billion

Cardano is pretty fresh in the crypto scene but it's made an impact. It can use new advancements done throughout the years in security, sustainability, and versatility. So get Cardano on your radar stat!

4. XRP (XRP)

What it's worth: Over $44 billion

XRP is the native cryptocurrency for Ripple, a payment technology released in 2012 that intended to make international money transfers faster, cheaper, and easier.

At the beginning of 2017, the price of XRP was $0.006. As of Sept. 30, 2021, its price reached $0.94, equal to a rise of over 15,700%.

5. Tether (USDT)

What it's worth: Over $68 billion

Unlike some other forms of cryptocurrency, Tether is a stablecoin... What does this mean in plain English? Tether's value is supposed to be more consistent than other cryptocurrencies making it a safe investment without any wild surprises.

Now if you're up for it, go get your Coinspot app and chuck a few dollars into each of these cryptocurrencies. Lemme know if you get rich.🤑🤑🤑