Cryptocurrencies are the present hot topic among tech entrepreneurs and digital experts. They are the modern version of what we refer to as “currencies”. Since 2008, cryptocurrencies have dominated virtual investment markets. The invention of cryptocurrencies also holds a mystery to it. Except for the pseudonym, Satoshi Nakamoto, no one knows the exact group or person who developed and created Bitcoin. “Decentralization” is one of the main reasons for increasing cryptocurrency popularity. They are not controlled by any specific group, organization, or entity. As a product of blockchain technology, Cryptos are regulated by a wide user community. The distributed community keeps track of all the information and transactions.
Increase in the number of Cryptocurrencies
Thousands of blockchain developers have created their own versions of cryptocurrencies through open-source software. This basically means that anyone and everyone with the right knowledge can create a cryptocurrency. In technical terms, we call this “Mining”.
As of 2021, more than 6,500 cryptocurrencies are functional and existing in the market. Most of these cryptos have very little to non-existent trading volumes. But, some are of surprisingly high demand and popularity among investor and backer communities. The main reasons for the increase of cryptocurrency valuation translate to
- decentralization (blockchain technology),
- high development expertise, and
- high demand among populations.
But, which ones should YOU choose and invest in? Which ones are likely to remain popular in the long term? What are the current market rates of the top cryptocurrencies? Confused about these questions? Don’t worry! We got you.
Top Cryptocurrencies to invest in 2021
To resolve any confusion, here we have provided a brief description of the top 5 cryptocurrencies in 2021. All of these are good investment options and can help you incur huge profits.
An anonymous individual/group named Satoshi Nakamoto developed Bitcoin as the first-ever cryptocurrency in 2008. Bitcoin often is also referred to as the father of cryptocurrencies. Bitcoin was the first to provide the world with a decentralized form of digital currency. With a whopping $1 trillion market cap, we can surely recommend Bitcoin as the best choice for traders and investors alike. Yes, there are still risks of price unpredictability, but as of 2021, you can definitely be sure of investing in Bitcoin.
Ethereum or Ether (ETH)
Ethereum is in second on our list of top 5 cryptocurrencies. It provides a platform for Decentralized Applications and Smart Contracts design. With exactly 72 million coins, Ethereum initiated crowdfunding in the year of 2014. Although Vitalik Buterin proposed the initiative in 2013, it took two more years for the network to go live. The market cap for Ether as of 2021 is $351 billion, and it is definitely worth investing in. More and more IT, finance, and tech companies nowadays are indulging in the aspects of blockchain and cryptography. With such prospects, Ethereum is sure to prevail within the crypto market in the future.
Tether(USDT) or RealCoin (RNA)
Don’t confuse between the two different names. After its launch in July 2014, the developer company rebranded RealCoin as Tether. It was amongst the earliest cryptocurrencies that instantly checked the crypto with the owner company for US dollars. Tether is perhaps the only cryptocurrency that holds the same value as conventional hard money valuations (US Dollars). Tether is also one of the most stable cryptocurrencies as it is usually unaffected by the crypto price surges and downfalls. The current market cap for Tether remains at $68.74 billion as of 2021. It is definitely a good recommendation for trading and investment purposes.
One of the co-founders of BitShares and Ethereum, Charles Hoskinson released Cardano in 2017. Due to some disagreements among the original five founding members, Hopkinson left the company and came up with his own version of crypto. Based upon the price actions in history, Cardano has been a promising form of crypto investment. One of the major advantages of Cardano is that decreases the payment transaction fees. As of today, the market cap of Cardano is $69.29 billion, and it can definitely provide good returns to investors and traders.
This unique and special form of cryptocurrency provides its users with multi-data transfer within heterogeneous environments (in-between blockchains). In simple terms, apart from tokens and coins, the users can use any form of data to transfer. Polkadot also enables blockchain experts to incentivize and operate their personal blockchains upon global blockchain networks. Peter Czaban, Gavin Wood, and Robert Habermeier are the creators of Polkadot currency. Fun fact, Wood was also amongst the co-founders of the Ethereum Project. As of September 2021, Polkadot stands at a market cap of $29.45 billion. Considering DOT’s previous stats and predictions, it is definitely a good option for investment in the long term. Polkadot was also 2020’s most successful cryptocurrency. The decision is upon you!
These are the top 5 cryptocurrencies of 2021 that you can consider investing in. Five other honorary mentions would be Ripple (XRP), Uniswap (UNI), XRP (XRP), Dogecoin (DOGE), and Binance Coin (BNB). The domain of cryptocurrencies is highly unpredictable. You need to track and scrutinize the market to incur positive investment returns. Crypto market trends and the demand ratio among investors and populations tend to determine the price of these currencies.
At NFTically, we provide efficient NFT listing, trading, and collection solutions. Join us to upstep your investment game. Use your cryptos strategically, create NFTs and take your trading to the next level.