If you’re looking to invest in altcoins, Coinbase is a great place to start. The popular cryptocurrency exchange allows you to buy Bitcoin, Ethereum, and Litecoin with ease. But which altcoins should you buy? According to crypto analyst Austin Arnold, these are the six best altcoins to buy on Coinbase:
1. Bitcoin Cash
2. Ethereum Classic
Is a fork of Bitcoin that was created in August 2017. The cryptocurrency has since become one of the most popular altcoins on the market.
Ethereum Classic is another fork of Ethereum that was created in July 2016. The altcoin is identical to Ethereum in terms of functionality, but it has a different blockchain history.
NEO is a Chinese cryptocurrency that was created in 2014. The altcoin is often referred to as the “Chinese Ethereum” because of its similarities to the popular cryptocurrency.
OmiseGO is a blockchain platform that allows users to conduct transactions without a central authority. The altcoin was created in 2017 by the OmiseGO team.
Qtum is a Chinese cryptocurrency that was created in 2016. The altcoin is a hybrid of Bitcoin and Ethereum that allows users to conduct transactions on both blockchain platforms.
Ripple is a cryptocurrency that was created in 2012. The altcoin is designed to be used by financial institutions and allows for fast, cheap, and secure transactions.
Altcoins vs Bitcoin
Bitcoin is the most popular cryptocurrency on the market and has a market cap of over $100 billion. Altcoins, on the other hand, are lesser-known cryptocurrencies that typically have a market cap of less than $100 million.
What are the risks of investing in altcoins?
Investing in altcoins is risky, and you should never invest more money than you can afford to lose. Altcoins are often much less liquid than Bitcoin, which means that it may be difficult to sell your altcoins when you want.
These are just a few of the many altcoins that are available on Coinbase. So if you’re looking to invest in altcoins, be sure to check out Austin Arnold’s list!
Why invest in altcoins?
There are several reasons why you might want to invest in altcoins. First, altcoins tend to be much cheaper than Bitcoin. This means that you can buy a larger quantity of altcoins for the same amount of money that you would spend on Bitcoin. Second, altcoins are often more volatile than Bitcoin, which means that they have the potential to generate higher returns. Finally, altcoins offer investors a way to diversify their portfolios and exposure to the cryptocurrency market.