The cryptocurrency industry is extremely diverse these days, with well over 12,000 different coins. On top of that, there are countless trends, such as DeFi, NFTs, and alike, which often poses a problem for new investors who don’t know which coins are sensible to invest in, and which ones are risky.
Billionaire investor Mark Cuban himself said that not all coins are equal, and when it comes to beginners, he has pretty specific coins in mind as a recommendation for investing.
According to him, Etheruem (ETH/USD) is the investment with the most upside, while he believes that Bitcoin (BTC/USD) is ‘better gold than gold.’ On the other hand, if the new user wishes to learn more about the crypto industry, its rich community, and the community’s own impact on the market, Cuban recommends Dogecoin (DOGE/USD) — a popular cryptocurrency inspired by a meme from 2013.
Dogecoin skyrocketed early in 2021, even managing to become one of the largest coins by market cap, bested only by a handful of other cryptos, including Bitcoin and Ethereum. Its community played a major role in this surge, and besides, Cuban also thinks that DOGE is fun.
Of course, just because cryptos bring the major potential for earnings doesn’t mean that they are any less risky, volatile, or speculative. Most experts constantly stress this, noting that users should never invest the money they can’t afford to lose.
Cuban himself is a major expert, with an extensive crypto portfolio. Other than Bitcoin, Ethereum, and Dogecoin, he also owns other altcoins, NFTs, and more. But, given the fact that this is not the first time that he recommended these three coins, it is clear that he sees value in them.
He sees smart contracts as a game-changing product, and as everyone knows, they were introduced by Ethereum. Bitcoin, of course, started the crypto industry, and is on its way to becoming digital gold and a store of value, while Dogecoin demonstrated how even a coin made as a joke can have unique use cases as a medium for acquiring goods and services and bringing the community together.
The post Billionaire investor Mark Cuban reveals why he is an Ethereum fan appeared first on Invezz.