In this article, we discuss the 5 best cryptocurrencies to invest in according to Reddit. If you want to read our detailed analysis of these currencies, go directly to the 10 Best Cryptocurrencies to Invest in According to Reddit.
Algorand is a blockchain-based network that uses the native Algroand currency for transactions. It markets itself as the first pure proof-of-stake blockchain in the world. It is ranked fifth on our list of 10 best cryptocurrencies to invest in according to Reddit. The technology used by Algorand promises a high performing system that guarantees security, scalability, and built in privacy. The Algorand ecosystem claims it is building itself for the future of finance where these needs will be foremost for most people when using digital payment methods.
Investors should also keep Alphabet Inc. (NASDAQ: GOOG), the parent company of internet search engine Google, on their radar for the crypto space. Alphabet Inc. (NASDAQ: GOOG) was recently given a Buy rating by investment advisory Argus with a price target of $2,800.
Out of the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in the firm with 2.9 million shares worth more than $6.1 billion.
“Large-cap tech companies have been resilient through the pandemic—Alphabet among them. A top contributor, Alphabet’s Play Store and Google Cloud are in demand as businesses accelerate online activity which, along with strong YouTube user growth, is helping stabilize temporarily weaker search ad revenue trends. Through the lens of our disciplined bottom-up research process, we view Alphabet as one of the best businesses in the world, capable of expanding revenues at a rapid rate for years to come, with a bullet proof balance sheet and an average asking price. It’s a name we’ve owned since 2012 and for which we continue to have high hopes regarding future prospects.”