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- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
Economic freedom is different for every country, and as the economy advances globally, the governments get significant control over the financial and economic freedoms of its subjects. Cryptocurrencies have turned out to be the primary choice of asset investment for young investors. Nowadays, college students are also investing in cryptocurrencies. Cryptocurrencies cannot directly improve every facet of economic freedom (e.g., tax policies and government spending), but they can improve most of the underlying drivers like trade freedom, investment freedom, financial freedom, and monetary freedom. A key economic feature of cryptocurrency system is mining is a public good, while double spending to defraud the cryptocurrency depends on individual incentives to reverse a particular transaction. Investing in cryptocurrencies will help in building better-functioning economies in countries with less economic freedom, and make it easier to emigrate to a better life. This article features the top 10 cryptocurrencies that give economic freedom to investors.
Bitcoin is the first cryptocurrency, and it is also the first choice of crypto investors. BTC is the flagship product of the crypto industry. At present, 9 out of 10 people want to invest in Bitcoin. Since it is the most trusted cryptocurrency in the market, it also gives economic freedom to crypto investors.
Ethereum is the second-most popular cryptocurrency, and it has also launched Ethereum 2.0 to offer a better and more seamless service than the original version to crypto investors. It can significantly increase the cryptocurrency price owing to the mass adoption of digital currency. It is one of the top 10 cryptocurrencies that give economic freedom to crypto investors.
Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. LUNA combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin and offers fast and affordable settlements. LUNA is generally used by experts to stabilize the price of the protocol's stablecoins.
Solana is a highly functional open source project that banks on blockchain technology's permissionless nature to provide decentralized finance (Defi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland. It is aiming to kill large cryptocurrency Ethereum. It is one of the top 10 cryptocurrencies that give economic freedom to crypto investors.
Cardano is one of the top competitors of Ethereum, as well as Bitcoin, in this highly volatile cryptocurrency market as a proof-of-stake blockchain platform. This cryptocurrency combines cutting-edge technologies to offer unparalleled security and sustainability to DAapps. The token is designed to ensure crypto investors can participate in the network operation.
Tether is useful for crypto investors because it offers a way to avoid the extreme volatility of other cryptocurrencies. This creates liquidity for exchange platforms, creates no-cost exit strategies for investors, and adds flexibility and stability to investors' portfolios. It is one of the top 10 cryptocurrencies that give economic freedom to crypto investors.
Binance operates the biggest cryptocurrency exchange in the world. It makes sense, therefore, that Binance Coin is the third-most-popular digital coin on the market. Investors who pay transaction fees with Binance Coin receive discounts. Each quarter, Binance reduces the supply of digital coins based on trading volume.
XRP is used interchangeably with Ripple but is different. XRP is the cryptocurrency developed by Ripple Labs to use for its financial products. It can be used for payments, or international remittances (money transfers). One interesting fact about XRP is that the coins are "pre-mined", using what its creators describe as a smart contract system. This results in the faster and more energy-efficient transfer of tokens.
Avalanche, along with Solana, is another example of a crypto that has a clear purpose, as opposed to meme coins like Dogecoin, which have no purpose at all. Avalanche is one of the many projects seeking to "unseat Ethereum," as one of the most widely used blockchain platforms, according to the cryptocurrency exchange, Gemini.
Experts consider Polygon as a solid investment because it is a framework for a blockchain network, and is compatible with the Ethereum virtual machine. Polygon has become a prominent feature of several DeFi protocols, and other platforms that it is adopting daily. Users need to bridge their Ethereum assets on the Polygon network. It is one of the top 10 cryptocurrencies that give economic freedom to crypto investors.
Polkadot is an open-source sharded multichain protocol that connects and secures a network of specialized blockchains, facilitating the cross-chain transfer of any data or asset types, not just tokens, thereby allowing blockchains to be interoperable with each other. It is one of the top 10 cryptocurrencies that give economic freedom to crypto investors.
