Cryptocurrencies are based on blockchain technology, which is generally developed through ‘mining.’ The first cryptocurrency, ‘Bitcoin’, was invented by Satoshi Nakamoto in 2008, which led to the introduction of cryptocurrencies all over the world.
Choosing the best cryptocurrencies around multiple options is a challenging task with many options on the market. However, you need to be aware of the risk of investing in cryptocurrencies as it is volatile asset with the potential for huge fluctuations in values.
Here are the top cryptocurrencies based on market capitalizations that can consider investing in 2021 –
Bitcoin – BTC
Bitcoin is the world’s leading crypto-currency known for the largest market capitalization and the highest volume of any other currency on the market. Bitcoin can be utilized as a retail adaptation leading to all other cryptocurrencies in terms of acceptance as a means of payment.
With a market capitalization of over $1 trillion, Bitcoin is recognized as the most popular cryptocurrency globally. It also represents 40% of the cryptocurrency market cap. Nowadays, many businesses accept Bitcoin as a payment, and famous personalities like Elon Musk recently invested over $1.5 billion.
Investing in Bitcoins should be viewed as a long-term investment with ever-fluctuating prices, and this should be kept in mind at the time of the investment.
Ether – ETH
Ethereum is a decentralized software platform that enables developers to create their crypto-currency using blockchain technology. The Decentralised Application (dApps) makes it possible to design and execute smart contracts (automated contracts by code) without requiring downtime, theft, control, or intervention by third parties.
The platform has its native crypto coins known as ‘Ether’ the second-largest cryptocurrency after bitcoin in terms of market capitalization. It is also known as the crypto-currency of the “world computer.”
Ethereum has been one of the most talked-about projects worldwide over the years. It has made significant progress since it was introduced in 2015. Its marketplace capitalization is over $350 billion. Ethereum could be the smart choice for those who want to start investing in the crypto market.
Binance Coin – BNB
Binance coin was introduced by a crypto exchange known as ‘Binance.’ Binance Coin is the third-largest cryptocurrency in the world, launched in 2017. It’s one of the most stable options to invest in Binance Coins because of their performance. It has slow but continuously rising trends in the marketplace.
The Binance coin is currently one of the largest crypto exchanges in the world that Changpeng Zhao founded. Its market capitalization stands at more than $80 billion. Binance coins initially is operated as ERC-20 tokens on Ethereum Blockchain.
It also has an intelligent eco-system called Binance Smart Chain (BSC). This is initially developed by a company but not by a group of developers. The Binance coin is a durable option for investing with its development over time and can attract many investors.
Ripple – XRP
Ripple Labs introduced Ripple in 2012 as both a cryptocurrency and digital payment network used for financial transactions. Ripples have announced multiple marketing partnerships with leading money transfer services.
XRP is a payment token used in decentralized payment systems developed by Ripple Labs. Unlike other cryptocurrencies, Ripple is being used in the real world today. In International Money Transfer can take up to 8-10 days, while an XRP token can be transferred within seconds.
RippleCoin (XRP) has a market capitalization of over $65 billion in May 2021, and Ripple could be one of the best crypto-currencies to invest in 2021. With its growing network all over the world, these tokens will drive payment networks in the future.
Litecoin – LTC
Litecoin was launched in 2011 by MIT graduate Charlie Lee, a former Google employee. It is identical to Bitcoin in terms of technical specifications and four times faster than Bitcoin in terms of transaction rate.
Litecoin is based on open-source payment and has a decentralized network, and coins are used “scrypt” as authorized work using the mining hashing algorithm. These codes can be decoded with the help of CPUs of consumer-grade to make them valid tokens.
The market cap of Litecoin is estimated at over $ 20 billion in 2021. It is also the ninth-largest cryptocurrency in the world. Litecoin is one of the most undervalued cryptocurrencies worldwide, although it has been around for a decade. With its existence for more than a decade, Litecoin will be the potential cryptocurrency that anyone can begin to invest in it.
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Top 6 Best Places to Buy Cryptocurrencies
Cryptocurrencies are becoming increasingly popular, and many large companies and investors are investing in cryptocurrencies.
Should you invest in cryptocurrencies? – Yes, but knowing how the market condition at the time of investment and how much risk you can afford to take at the investment.
Ultimately, cryptocurrencies remain an attractive investment option. Trends indicate that the cryptocurrency market is likely to grow in the future as well.
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