Top 5 Cryptocurrencies to Invest in August 2017

In 2008, Satoshi Nakamoto introduced the world to Bitcoin and changed the way we think about currencies. Since then, many more cryptocurrencies have popped up. These currencies use decentralized control and use blockchain technology to encrypt, verify and secure the transactions. Over the years cryptocurrencies have emerged as a good investment option as their value against Dollar has been rising steadily and with news that Japan and Russia are set to legitimize cryptocurrencies their values are sure to go further up . These are the top 5 cryptocurrencies I would recommend investing in this august:

Bitcoin

Bitcoin still is on of the top cryptocurrencies to invest. There are only 21million Botcoins available and it has become harder and harder to mine them; in that sense, it is similar to gold. Bitcoin also has a well established network and is very secure. Bitcoin is currently trading at $3,268.59 with a market cap of $53,689,684,611.

Ethereum

Ethereum was launched in September 2015 and has seen exponential growth in recent times. Ethereum is also a blockchain based distributed computing platform like Bitcoin and it allows users to create smart contracts that run on a decentralized network. The crypto token used is called Ether and it can be used to settle transaction fees and services on the network. It is currently trading at $264.47 with a market cap of $24,816,662,016.

Dash

Dash is like a more advanced version of Bitcoin with features like instant transactions, private transactions and decentralized governance. Its architecture has 2 tiers. The first tiers consists of miners who secure the blockchain and master nodes. the second tier consists of master nodes who secure clusters known as quorums allowing for the advanced features it offers. It is currently trading at $193.23 with a market cap of $1,444,874,407.

Litecoin

Litecoin is also identical to Bitcoin with some technical advancements like Segregated Witness and Lightening Network which vastly improves its speed and reduces potential bottlenecks. It has almost zero payment cost. Its value has increased by over 700%. It is currently trading at $45.42 with a market cap of $2,377,923,043.

Ripple

Ripple is the name of a digital currency and open payment network within which the currency is circulated. It is a real time gross settlement system based on a shared public ledger. Ripples' main attraction is that is has been adopted by banks and payment networks. It is currently trading at $0.180317 with a market cap of $6,914,046,537.