What's the Best Cryptocurrency to Invest in Today?

What's the Best Cryptocurrency to Invest in Today?
By DAVID ZEILER, Associate Editor, Money Morning • @DavidGZeiler • July 28, 2017

Editor's Note, Dec. 5, 2017: Since we first published this story in July, the 12 cryptocurrencies listed below have enjoyed an average gain of 145%. Readers who acted on these recommendations when we first released them have doubled their money or better. It’s not too late to profit from the cryptocurrency boom. You just need to know how to find the fastest cryptocurrency profits. Stay ahead of the money – and make more – with our free, real-time Cryptocurrency
Bitcoin, with its first-mover advantage and robust security, is the best cryptocurrency to invest in today.

best cryptocurrencyThere are other cryptocurrencies worth putting some money into – and we'll look at some of those in a moment.

But Bitcoin (BTC) has emerged as the blue chip of the bunch.

In a nutshell, here's why Bitcoin remains the best cryptocurrency to invest in despite all the competition:
First-mover advantage: Bitcoin is the granddaddy of digital currencies. It gained traction – and notoriety – before most other cryptocurrencies were created. The relatively large user base means Bitcoin benefits from a "network effect." As more people use Bitcoin, its utility increases, which in turn attracts more new users.
Biggest market cap: The total value of all bitcoins is about $41 billion, more than twice that of second-place Ethereum. It's a reflection of the lofty Bitcoin price, which is about $2,500 now, although it hit $3,000 in June. A large market cap makes it easier for wealthier players to invest, adding to demand that helps push prices higher.
Capped supply: The code that runs the Bitcoin network specifies that only 21 million bitcoins will ever be created and that the rate of creation declines over time. Nearly 16.5 million bitcoins already have been mined. The tight supply,
Most secure network: The more computing power the network has, the more difficult it is for a hacker to break into it. Lured by the Bitcoin reward – currently 12.5 bitcoins for each block mined – and rising transaction fees, Bitcoin miners have thrown increasing amounts of computing power into the network. That fact, and that it uses the SHA-256 cryptographic protocol designed by the National Security Agency, make Bitcoin virtually unbreakable.
Most secure network: The more computing power the network has, the more difficult it is for a hacker to break into it. Lured by the Bitcoin reward – currently 12.5 bitcoins for each block mined – and rising transaction fees, Bitcoin miners have thrown increasing amounts of computing power into the network. That fact, and that it uses the SHA-256 cryptographic protocol designed by the National Security Agency, make Bitcoin virtually unbreakable.