What Cryptocurrencies Should I Buy? NZ Crypto Guide
Since there are over 5,000 cryptocurrencies in existence, it can be hard to choose what ones you should buy.
For this reason, we’ve created articles on the three cryptocurrencies that are the most popular to buy 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. ?
Conceived in 2008 during the global financial crisis, Bitcoin was the first cryptocurrency ever created. Since then, it’s paved the way for the two thousand or so other cryptocurrencies that have spawned since Bitcoins inception.
Bitcoin (BTC) is commonly referred to as digital gold, as it shares many of gold’s qualities, and objectively some better ones too.
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.
You can find our simple rundown of why people buy Bitcoin and our NZ buying guide here.
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, gambling and beyond.
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.
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.
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.
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. Good thing you can invest in it now!
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 yet simplified breakdown and buying guide.
For more information on crypto for Kiwis check out CryptoKiwi.co.nz’s simplified rundown on 7 of the most popular cryptocurrencies on the market.
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 🙂