A strong boom in the price of cryptocurrencies like Bitcoin and Ethereum has seen many new investors flocking to invest in the volatile digital currency markets, with Australia now as one of the top countries where people are trading digital coins.
However, it can be hard to know which cryptocurrencies have potential and which don’t, especially as there are many different types.
Here’s our guide on the best crypto to buy right now Australia to help you understand the current market and ensure you’re purchasing the right cryptocurrency to suit your needs.
Bitcoin is the original and most well-known cryptocurrency. It was created in 2009 by an anonymous person or group using the pseudonym Satoshi Nakamoto. Bitcoin is a decentralized digital currency that is not subject to government or financial institution control. Transactions are verified by a network of computers, called miners, and recorded in public distributed ledger, called a blockchain.
Bitcoin can be bought, sold, or exchanged for goods and services. As of January 2019, one bitcoin equals US$3,600. Due to its anonymity and decentralization, Bitcoin has been used anonymously on darknet markets to buy illegal drugs. However, Bitcoin’s future is uncertain due to its lack of scalability and transaction speed limitations.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. Smart contracts are applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. Ethereum was founded in 2013 by Vitalik Buterin and Gavin Wood with the intention of creating an online platform for financial services. The project officially launched on July 30th 2015. The system has since grown to be one of the most popular cryptocurrencies in use today.
XRP has been making the waves recently in Australia. This is because it’s the best crypto to buy now in Australia because it is fast and low-cost with its low transaction fees. It also has a huge market cap, so there is always demand for the token. Also, XRP has no mining difficulty, so you don’t need expensive equipment to mine coins. All you need is a computer or phone and an internet connection!
This is one of the most popular digital currencies alongside Dogecoin. It has broad support worldwide, making it an instant hit in the market since its launch in 2022. Doglee has also featured on several websites, gaining traction so fast in every corner of the world. This digital currency derives from simplicity. If you’re new to the trade, Doglee is your best bet with its lighthearted theme and appearance.
In cryptocurrencies, it’s essential to consider multiple factors to determine which platforms are best. Besides complex systems, like bitcoin and Ethereum, there are simpler ones in the form of Doglee and Ripple—which can be easier for a beginner to master. However, it ultimately comes down to the cryptocurrency you feel most comfortable with, and this list highlights multiple options worth considering.