Are you wondering which cryptocurrencies to target this year? As the world changes dramatically to open its doors to cryptocurrencies, people are finding this investment option worth considering. Today, there are more than 400 cryptos to choose from and almost 15% of the global population is engaged in transactions involving digital currencies. So, which are the top-ranking cryptos that you could buy in 2021?
- Bitcoin: This of course remains the top favorite for both experienced and novice traders. It is the oldest crypto coin to have entered the crypto scene in 2009 and there has been no looking back since. It has gone through several highs and lows as have other cryptos but if you can perform a proper market evaluation, you should be able to draw much profit from the Bitcoin. The recent spike in Bitcoin prices at the start of 2021 has been instrumental in convincing investors about the value of investing in this asset. The rise is also due to the entry of automated trading apps such as crypto bank app into the market which execute the trade 24/7 without requiring any manual intervention. So, regardless of criticisms, Bitcoin currently remains the safest asset for investment.
- Ethereum: This crypto coin has continued to hold the second position just after Bitcoin in terms of market cap. It is popular because of its dApp processing. Ethereum holders who had bought the coin just over $1 in 2015 can now hope to sell it for more than $1700. Even though Ethereum has witnessed a price surge, critics are not convinced because earlier price-hike predictions had not materialized. Prices had been steadily low throughout 2019 making investors disappointed. But things have changed since May, 2020; although giving the Bitcoin a run for its money may still not be possible for Ethereum, it can be a worthwhile investment option.
- Litecoin: This has been there for many years, albeit with a low price tag. So, advocates are optimistic that the coin will eventually attain its maximum potential. Investments in Litecoin can be lucrative but risky at the same time; prices have been largely volatile over the past 5 years. It was founded by Charlie Lee as a “lite” Bitcoin version and was designed to adopt Bitcoin’s best features with some changes. Litecoin transactions are faster and take less time for confirmation compared to the Bitcoin. Litecoin also demands less-sophisticated and less-costly equipment for mining. You can mine Litecoin with ordinary computers. To buy the Litecoin, you will currently need to spend less than $200; so, investment risks are not too high.
- Binance Coin (BNB): It is more than just a crypto coin, much like the Ethereum. It was originally set up on Ethereum blockchain but later the decentralized exchange came about in 2017. The Binance DEX aims to allow users to buy or sell Binance coins and use BNB for converting one crypto to another. No surprises then why Binance DEX has grown into the largest crypto exchange in terms of volume. It offers discounts to users paying transaction fees in BNB; this is a wise move to retain users and supports Binance’s growth.
- Bitcoin Cash: As the Bitcoin started to gain popularity, data blocks began to fill up, slowing down the transactions and escalating fees. At this time, some Bitcoin developers wished to come out with a new Bitcoin version in August, 2017 called the BCH or Bitcoin Cash. it can store as much as 8MB data and guarantees more frequent and quicker transactions. It is highly scalable and has tremendous growth potential.