Top Five Cryptocurrencies to Invest In 2021
Early Bitcoin adopters would have made a fortune if they had held on. Ask every investor today, and they'll tell you that if it weren't so expensive, they'd want a piece of it. With all the excitement around cryptocurrencies, it looks like these digital assets may be the way financial transactions are done in the future.
Bitcoin (BTC)
Bitcoin had a modest beginning in 2008. After nearly a decade of existence, the price of this cryptocurrency peaked in 2017. Essentially, this is the time when this virtual currency piqued the interest of investors. Bitcoin has gone through ups and downs over the years. But, what exactly is this cryptocurrency, and where did it come from?
Today, one Bitcoin is worth no more than $60,000. This means that the current value of this digital currency is higher than its all-time low of $3,000. And no one knows who Satoshi Nakamoto was or is.
Ethereum (ETH)
Ethereum is a unique cryptocurrency that many large corporations have adopted. The main reason for this is that many of Ethereum's developers are working to make the technology more mainstream.
This is important because it gives Ethereum a shot at being the primary cryptocurrency for large-scale adoption. Ethereum is an innovation ecosystem for decentralized applications.
New ways of digitizing goods and services have been created using old and new technologies, ranging from ICOs to NFTs. You will require many more updates to improve the user experience of the open-source software to meet expectations as a global, decentralized platform for money and new types of applications.
Cosmos (ATOM)
Cosmos, a decentralized network of independent blockchains, can scale and operate in tandem, allowing for an ecosystem of related applications and services. The ATOM cryptocurrency token is the network's native cryptocurrency token.
Consensus algorithms and the Inter-Blockchain Communication (IBC) protocol power the Cosmos ecosystem. This enables users to transfer assets and data between blockchains.
So, what are the prospects for the Cosmos coin in 2021 and beyond? Is the price expected to rise further, or is it too late to make money if you invest in cryptocurrency today?
Polkadot (DOT)
Polkadot is a secure, scalable, and decentralized multi-chain network designed on Substrate for the next web, with RS penalties. This framework allows the creation of compatible and purpose-built blockchains made up of custom or pre-built components.
Polkadot aims to enable a fully decentralized web in which users can control by delivering an interoperability protocol that scales the network using segments or shards. It connects private chains, public networks, and oracles, enabling a new type of web in which independent blockchains can inconsistently exchange data and transactions. Want to know more about crypto investment? Find more information on this website.
Ripple (XRP)
Ripple's XRP is currently the second-largest cryptocurrency by market cap. It is currently sitting at position number two due to its fast-growing transaction throughput of more than 1,000 tps. More importantly, Ripple has already shown that they are on track to become a global competitor in the blockchain payment industry.
Ripple, like Bitcoin, is a digital currency that has been ranked as the third most valuable digital currency after Bitcoin and Ethereum. However, few people are aware that the Ripple coin predates Bitcoin. The concept of the Ripple coin was discovered in 2004 by its inventor. However, owing to various factors, it launched in 2012 through their Ripple lab.
According to XRP investors, the Ripple coin price has increased by 75% in the last few weeks due to the popularity of Bitcoin because one type of investment affects the other type of investment in the same category.
Final Thoughts
Bitcoin will continue to dominate the cryptocurrency market for years to come. However, if you're looking to invest in cryptocurrencies long-term, Ethereum is a worthy pick due to its competitive mining algorithm and platform. Also, the recent rise in Ethereum price is an excellent indicator of its likely future success.