Cryptocurrencies are a different type of digital money and assets that appear secure when used by adults. However, several ecstatic children and teens are looking forward to receiving their income after investing in cryptocurrency.
A new class of cryptocurrency investors has emerged, consisting of children and teens. While investing may appear dangerous, some children feel it may help them become more financially independent and familiarize themselves with new financial technology and market trends.
We’ve compiled a list of 7 cryptocurrencies that youngsters can purchase with their small savings in this article:
This stablecoin was established in 2014 and quickly gained popularity. This cryptocurrency is the first to be backed by the US dollar. Despite legal procedures involving tether’s creators, the cryptocurrency has managed to stay afloat. Tether also has a larger market share in the stablecoin market than any other stablecoin.
- USD Coin:
Another stablecoin that is tied 1:1 to the US dollar is USD Coin. The coin launched in 2018 with the slogan “digital money for the digital era.” Its goal is to increase the number of cashless transactions. In times of volatility, several use cases based on the USD currency have proven safe for crypto traders.
Despite being a riskier investment than the other two, Cardano can be a valuable way for new investors to gain knowledge about blockchain technology. The goal of this cryptocurrency is to give alternatives to ethereum’s drawbacks. However, the challenge for Cardano is that numerous other cryptos are also attempting to address ether’s flaws, making competition for the crypto difficult.
For new investors, litecoin could be the ideal alternative to bitcoin. It offers reduced transaction fees, processes payments faster, and is significantly less expensive than bitcoin. Litecoin has excellent fundamentals as a project as well as greater returns than BTC. With a block duration of about 2.5 minutes, it is ideal for micro-transactions and point-of-sale payments.
The Maker Protocol and the MakerDAO decentralized autonomous organization govern the issue and development of Dai, an ethereum-based stablecoin. Its value is soft-pegged to the US dollar and backed by a mix of other cryptos placed in the smart contract vaults each time it creates a new DAI.
- Binance USD:
Binance has released a 1:1 dollar-backed stablecoin. This stablecoin, which launched in 2019, intends to combine the dollar’s stability with blockchain technology. Investors can trade BUSD on a variety of exchanges and DEXs and deposit the coins for a return. It utilizes as a collateral and lending asset in the future, as well as cross collateral.