Cryptocurrencies are seen in the news lately. Though the concept and matter of cryptocurrency are not very new to the world, the world including the corporate sector has started talking about it. The reason for this inclination is because of the rise in the value of cryptocurrencies. This whole idea of cryptocurrency was formulated and launched by Bitcoin. Bitcoin is considered the father of cryptocurrencies. After the remarkable success of Bitcoin other organizations started to make their cryptocurrencies and the pattern continued. In this article we will discuss the 10 Best cryptocurrency investment Ideal For 2021.
What Is A Cryptocurrency?
Before delving further, let’s start from the base. To start with, cryptocurrencies are digital currencies that can be bought, invested, and maintained digitally. There is no use of hard cash. These are also like any normal currencies issued by the central bank. In cryptocurrencies, there are special digital credentials provided that the user has to use to operate. They work on something called “blockchain”, where every transaction made is recorded in a digital ledger by using encryption.
Bitcoin is a cryptocurrency that was launched in 2007. It is the first cryptocurrency to have got great success in the market. Each Bitcoin is stored in a “digital wallet” in the form of a computer file. These files can be operated from desktop, laptop, and even tablets by the users. These Bitcoins can be transferred and exchanged through the digital wallets between the users.
What Are Altcoins?
Altcoins are any cryptocurrency except Bitcoins. After the massive success of Bitcoins in the market, Altcoins came. They are the same digital currency just like Bitcoins. Bitcoin on one side and all other digital currency on the other side is what the difference is. Now let us see the top 10 altcoins that are ideal for investment in 2021.
Top 10 Altcoin Cryptocurrency Investment For 2021
Cryptocurrency Investment should be done after proper market research. So here is a list of the top 10 cryptocurrencies of 2021.
The first name that comes to mind when heard of Altcoins is Ethereum (ETH). It is a decentralized software platform that allows smart contracts and the use of Decentralized Apps (DApps). This enables the users to create fresh financial products without the interference of any external force.
Ethereum was proposed by Vitalik Buterin in the year 2015. He was a computer programmer. Ethereum has launched with nearly 12 million pre-mined coins altogether. In places where there are no reliable banking services, Ethereum can be used for loans and mortgages. This can surely be a cryptocurrency investment for 2021.
Launched in 2011, Litecoin can be said to be Bitcoin’s one of the early alternatives. This was the idea of Charlie Lee, a Google employee. The main purpose of Litecoin is that it formulates a block in every 2.5 minutes, thus making it faster in transactions.
Technically Litecoin is similar to Bitcoin but except for a few parameters –
1) Transaction in Litecoin is faster than in Bitcoin.
2) The cryptographic algorithm used by Litecoin is different from that of Bitcoin.
From the last 2 years, Litecoin saw a massive upgrade in its value. So this is also a proper place to invest in cryptocurrencies
The name stands for Digital Cash. It is an independent Altcoin platform that is quite popular in the markets. This cryptocurrency ensures speed in a transaction. This was once called ”Dark Money” as this financial platform provides cheap yet quick transactions. According to the website, the user can transact in less than a cent.
This platform is built on Bitcoin’s technology but is more private than Bitcoin. Here the public address is hidden which implies that the sender remains anonymous. But that is not the case in Bitcoins. In Bitcoin, the user gets access to a public address.
Though this platform is new in the cryptocurrency environment, its hike in price clearly shows its success in this same field. Zcash was launched in 2016 by Zooko Wilcox-O’Hearn. Zcash comes with a decentralized blockchain. It increases the privacy of the users by using “zero-knowledge proofs” to validate transactions without disclosing information that could harm the user’s privacy.
Just like Ethereum, Cardano (ADA) is well known because of its financial products without the interference of any external force. The value of ADA expanded last year from a penny to ten cents.
The only factor that distinguishes Cardano from Ethereum is a commitment to “peer-reviewed scientific research” as blocks for building updates in the platform. Three organizations are responsible for the development of Cardano. Namely, IOHK, Cardano Foundation, and the final one are for a profit-making entity. The IOHK which takes the responsibility of building the Cardano is a team of academics that are spread all over the globe to come up with research and reviews.
The sixth one on the list is Ripple (XRP), which is based on the XRP ledger. This XRP is not based on blockchains just like other cryptocurrencies. This cryptocurrency is drawn on an “open source distributed database”. The coin had a good grip on the market until it started to face some serious regulatory issues. Financial News Herald once reported –
“The token price is down more than 60% since 22nd Dec, last year when the SEC filed its complaint against Ripple”.
Despite all these, this cryptocurrency is still worth mentioning. If this coin somehow comes out from the legal issues it is facing, then it surely has a promising future in the crypto market.
This digital currency was founded by David Sonstebo, Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov in the year 2015. It was the most discussed cryptocurrency in 2018. All this happened because of its unique architecture of the blockchain. Any transaction made on IOTA is completely free irrespective of the ticket size of the payment.
This is a very important quality, especially in cryptocurrency that is preferred by many startups and corporates. This cryptocurrency has already been collaborated by companies like Deutsche Telekom, Fujitsu, and Microsoft as well.
Tether is a cryptocurrency having stable value. Its circulation is backed up by the same value of traditional fiat currency like the dollars, euros, the Japanese Yen, and others which are kept in a reputed bank account. This cryptocurrency is used by investors who wish to avoid violation of cryptocurrencies while living inside the crypto world. These tokens are traded under the USDT symbol.
Tether was built to fill in the gap between fiat currencies and cryptocurrencies to offer stability and transparency to the users.
Steemit is a social media and blogging platform that has now entered into the world of cryptocurrency. In this platform, the users get rewarded for commenting on the blogs, liking them, or engaging themselves in other activities. Thus this is an excellent platform for mining cryptocurrency by just creating web content.
This is also a Cryptocurrency that was formed to ensure complete privacy. It is near to impossible to find transactions on the Monero network. Its USP is a completely anonymous and untraceable digital currency. Any transaction on this platform is completely untraceable. This ensures the safety and security of the users are maintained.
Monero was launched in 2014 and is an open-source digital currency platform that uses a combination of addresses to hide the transaction details. For safety, this is the best option.
Over the passage of time, the digital world has developed immensely. And with the advent of cryptocurrency it is expected that by the end of 2027, the world will see a different level of cryptocurrency usage. Ranking them in order of preference on cryptocurrency investment will help the readers further to decide where to invest. Since you are reading this, we hope you have come across all of them and have already started to decide.