Cryptocurrencies have been on the market for years and consistently proven more profitable than conventional instruments and commodities like gold and oil. The last 12 months have been a heady period for cryptocurrencies and left many wondering how long it may last. According to a 2020 study, an estimated 3.9% of the UK population, totaling 1.9 million people, own cryptocurrencies. However, with the current potential of cryptocurrency, there’s sure to be many more new owners. So, which currencies are worth investing in? Here are five cryptocurrencies you should consider in 2021.
- Ripple (XPR)
Ripple is notable for its own money, XRP, coupled with its innovative digital RippleNet payment platform. The currency has several significant advantages, including its low exchange rate and instant transaction confirmation since it bypasses the central bank validation process. Additionally, Ripple utilizes services to corporate with banks and other financial institutions, which adds to its dependability and supports ideal price growth forecasts. With the price still low and moderate, now’s the perfect time to invest in Ripple compared to other cryptocurrencies.
- Ethereum (ETH)
As the second most popular cryptocurrency after Bitcoin, Ethereum offers a substantial market cap. Its price has increased substantially in the last few months, costing around $579 to the end of 2020. The accomplishment of the Ethereum 2.0 update and the decentralized money framework can be among the most compelling motivations for such an expansion. Ethereum has plenty of benefits as it upholds smart contracts, considers decentralized mobile apps (dApps) and remains the second liquid cryptocurrency globally.
- Litecoin (LTC)
LTC is called the silver cryptocurrency for a reason; it’s a solidly grounded platform with a massive following. The currency was valued at $68 in November last year, making it an enticing alternative to consider in 2021. Litecoin dominated among digital currencies last year, climbing to eight on the most extensive digital currency ratings. This is amazingly significant for such a brief period. Additionally, LTC has a comparatively higher block reward than other digital currencies and is very fast. Do you know the average time to mine a block is two minutes?
- Bitcoin (BTC)
As the gold of all cryptocurrencies, Bitcoin isn’t just the earliest cryptocurrency on the market. Still, it represents the most valuable and flexible coin ever. From user autonomy, secured transactions, peer to peer focus, and low fees on international transfers, Bitcoin posts considerably larger benefits. BTC has endured an enormous crisis since the outbreak of the pandemic in March last year. BTC has seen a fast recovery rise from $4,000 at the start of the pandemic and now selling around $47,000. At this rate, it’s no doubt Bitcoin will continue to grow in value.
- Binance Coin (BNB)
Like Ethereum, Binance coin is significantly more than just a cryptocurrency since it was initially facilitated on Ethereum until the Binance decentralized exchange went online in 2017. Despite the similarities with Ethereum, Binance has a varying mission. The platform allows Binance coins trading and uses BNB to change other digital currencies from one onto the next.
While investing in digital currencies is a worthwhile idea in 2021, it’s essential to find a convenient crypto trading platform. The recent forecasting is promising, and it’s about time you cash in on the trend.