Due to the word broad interest in Bitcoin, many individuals have started investing in many kinds of cryptocurrencies. Even individuals in third-world countries have started investing in cryptocurrencies. Most of these retail investors are highly influenced by the saying of succeeded bitcoin holders who have invested in the early stages. However, bitcoin has been able to hold a continues attention of the global cryptocurrency communities. Bitcoin is one of the best cryptocurrencies to make your investment in 2021. But there are certain risks of investing in cryptocurrencies, such as volatility.
Before investing, there are few predictions to done by investors, because this affair is entirely depending on a form of currency. Finance is one of the most important parameters in human life. Therefore, investors should thoroughly consider the risks associated with investing; significantly, investing in cryptocurrencies! Nowadays, Cryptocurrencies have been a leading method of financing. Some top global organizations and businesses, such as Tesla, PayPal, and Microsoft, accept cryptocurrency transactions. Therefore, investing in cryptocurrency might be a better decision. But what are the best cryptocurrencies to invest in 2021? According to some of those predictions and expert reviews, some cryptocurrencies have ranked in a high position. Though there are more than 1000 cryptocurrencies under existence, these are the top 3 cryptocurrencies to invest in 2021 other than bitcoin.
Ethereum is the second-largest cryptocurrency in the market. It is a virtual platform that allows smart contracts and decentralized applications (DApps) to work under less downtime, fraud, and high privacy. The investments in Ethereum are driven without any involvement of a third party. Therefore, anyone who is interested in Ethereum can trade coins on the network. The specific token of the Ethereum network is Ether and is considered as the backbone of the network. Though Ethereum was launched in 2015, the current market cap is about 20% of Bitcoins’ value. It seems like a promising method of gaining more profit in 2021.
Cardano is a cryptocurrency that created by a set of engineers, mathematicians, and cryptography experts. It is an Ouroboros proof-of-stake cryptocurrency. Ouroboros is a proof of stake algorithm-based protocol used in cryptocurrencies. It can be run in either permissionless or permitted blockchains. Cardano was created by Charles Hoskinson, one of the founders of the second largest cryptocurrency Ethereum. There are some revolutionary discussions about Cardano. Perhaps, it is known as “Etherum Killer” due to its additional capabilities. Though Cardano is in its childhood, it has high ability on its performance. According to the predictions of experts, it might be a field dominating cryptocurrency as it gets mature. However, currently, the value of an ADA trades for $0.31.
Binance Coin (BNB)
Binance coins can be used as a payment method for trading, which is associated with Binance Exchange. As an advantage, those who trade using Binance can experience a discount for the assets related to Binance Exchange. Changpeng Zhao is the founder of the Binance exchange. However, this is highly used in exchanges in the world based on trading volumes. Initially, it was layed on Ethereum networks, and later on, it used its own blockchain network. The current value of a Binance coin is about $44.26.
- The discussion above is not financial advices, investment advices, or taxing. It is a basic study on cryptocurrency which is done based on resourcing sources.