The cryptocurrency market continues to attract investors in the UK, with top coins like Bitcoin, Ethereum, and Tether standing out as popular choices and the best crypto to buy in UK. Each of these cryptocurrencies offers unique benefits and potential returns, making them appealing to different types of investors.
Bitcoin (BTC): The Original Cryptocurrency
Market cap: $1.2 trillion
Year-over-year return: 133%
Bitcoin (BTC) is the original cryptocurrency, created in 2009 by the mysterious Satoshi Nakamoto. Running on a decentralized blockchain network, Bitcoin uses a proof-of-work consensus mechanism, verifying transactions through complex cryptographic puzzles. This process ensures the security of the Bitcoin network and protects it from fraud.
Bitcoin has seen phenomenal growth since its inception. Back in May 2016, you could purchase one Bitcoin for approximately $500. As of August 2024, that same Bitcoin is valued at around $60,596—a staggering increase of over 12,000%. Bitcoin’s status as a household name has made it a top choice for investors in the UK and beyond.
Ethereum (ETH): The Developer’s Choice
Market cap: $317.5 billion
Year-over-year return: 58%
Ethereum (ETH) stands out not only as a cryptocurrency but also as a powerful blockchain platform. It has become a favorite among developers thanks to its versatile applications, such as smart contracts that execute automatically when conditions are met and non-fungible tokens (NFTs).
Since its launch in 2015, Ethereum has grown tremendously in value. In April 2016, its price was just $11. By August 2024, Ethereum was trading at approximately $2,640, reflecting an incredible increase of nearly 24,000%. For UK investors seeking a dynamic and versatile cryptocurrency, Ethereum is a strong contender.
Tether (USDT): A Stable Option
Market cap: $117.0 billion
Year-over-year return: 0%
Tether (USDT) is a stablecoin, meaning it is pegged to fiat currencies like the US dollar or Euro. This pegging is designed to keep Tether’s value stable, unlike the often volatile prices of other cryptocurrencies. Tether is a preferred option for investors who are looking for a less risky investment in the crypto space.
While Tether does not offer the high returns of other cryptocurrencies, its stability makes it an attractive choice for investors looking to avoid the market’s extreme volatility.
