Not all cryptocurrencies are created equal, and it can be confusing trying to decide which type is right for you.
Nobody knows for sure whether crypto will succeed over the long run, so be sure you have a very high tolerance for risk before you decide to invest in cryptocurrency.
While there’s no such thing as a “safe” cryptocurrency, Bitcoin is somewhat less risky than Ethereum and Dogecoin.
Few merchants accept crypto as a form of payment, but the ones that do are more likely to accept Bitcoin than other types of digital currencies.
In addition, Bitcoin is often referred to as “digital gold” because there is a limited number of tokens available — 21 million tokens, to be exact.
You can either buy Ether or you can invest in companies that use the Ethereum blockchain.
Blockchain technology has the potential to revolutionize many areas of business, and Ethereum is one of the biggest players in the blockchain space.
Although Ether isn’t as popular as Bitcoin, its supporters believe it has a tremendous amount of potential.
Over the past six months, its price has surged more than 14,500%.
It was originally created as a joke based on a meme, which also hurts its credibility.
Online investors have been pumping up its price to make a quick buck, and celebrity billionaires like Elon Musk have also promoted Dogecoin on social media.
While nobody knows whether it will rebound or continue to plummet, buying Dogecoin right now is more akin to gambling than investing.
Bitcoin is by far the biggest player in the game, but Ethereum also has potential — and carries more risk.