We are just past the first quarter of the year 2023 and it is still the best time in Nigeria to invest in crypto. With the elections winding down, investors are looking to put their monies back in business and we can guarantee that crypto is a sure investment with decent returns for your money. How to buy crypto or which crypto to buy are some of the major questions Nigerians with interest in the crypto market are asking. This is a guide (though not exhaustive) to some of the best investment options available in the crypto market. These suggestions stem from years of experience in the crypto market and extensive research on current trends and future directions of the market. Still worried about the Central Bank of Nigeria (CBN) crypto ban? Say less, we have a legal and safe peer-2-peer crypto trading web app, and mobile apps available for IOS and android to help out. These are some of the crypto coins and assets you can find on our product.
1. Bitcoin (BTC)
Bitcoin is the most popular cryptocurrency and has been the best-performing cryptocurrency over the past decade. Bitcoin is an open source payment facilitator built with blockchain technology. Bitcoin is relatively stable and widely sought by investors. According to their blog “Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network.” Bitcoin is a solid investment option in the crypto market place due to its wide adoption, and stability.
2. Ethereum (ETH)
Ethereum is a blockchain powered decentralized finance (DeFi) community with the aim of providing digital money and other assets for global trade and exchange. The local currency of the Ethereum community is known as Ether. By joining the community and owning the Ether, investors are empowered to send, receive, borrow, and stream digital assets from anywhere in the world provided they have a crypto trading app and stable Internet.
3. Cardano (ADA)
Cardano is a blockchain technology platform with focus on empowering innovation and change in the crypto marketplace. Cardano has gained a lot of attention in recent years due to its innovative approach to blockchain technology. Its proof-of-stake consensus mechanism is more energy efficient than Bitcoin's proof-of-work mechanism, and its focus on governance and sustainability has made it a popular choice among environmentally conscious investors. Unlike Bitcoin and Ethereum, investors can have large stakes in Cardano without breaking the bank.
4. Binance Coin (BNB)
Binance Coin launched through initial coin offering (ICO) in 2017. Initially, the coin was hosted and ran on the Ethereum blockchain but was made the native coin of the Binance crypto trading app in 2017. The Binance coin is available for global trading and purchases. The coin can also be used to invest in ICO and other newer DeFi projects.
5. Solana (SOL)
With a market capitalization of 9.2 billion US Dollars, Solana is one of the fastest growing new coins in the crypto market. Solana is preferred due to its fast transaction speeds and low fees. Its focus on scalability and decentralization has made it a popular choice among investors looking for a faster and more efficient alternative to Ethereum.
The crypto revolution has come to stay especially as newer projects come to light almost every day. While the cryptocurrency market can be volatile and unpredictable, these five cryptocurrencies as listed offer a strong investment opportunity due to their innovative technology, wide adoption, and potential for growth in the coming years. As with any investment, it's important to do your own research and invest wisely.