Crypto currencies have been on the market for some years now and have undoubtedly proven to be among the most profitable investment opportunities, beating the profits from conventional stocks and commodities, such as Oil and Gold.
If you are looking for best cryptocurrency to invest in 2021, counted by the following predictions, they may appear to be mutually exclusive. The projections given here, however, are based primarily on what we think will happen in 2021, not based on the prospect of the crypto markets going up right now.
If the projections are correct, the increase in the value of crypto currencies can be expected to continue rising exponentially over the next few years.
To be successful in investing in crypto currencies, you must be able to establish whether or not a specific crypto currency will be worth buying in the years ahead.
What are the top 10 crypto currencies as ranked by market cap today (according to coinmarketcap.com) and how will they increase in value over the next few years? What about the first crypto currency to rival Bitcoin in market cap?
1. Bitcoin (BTC)
Bitcoin doesn’t need any introduction. It’s known to be the first ever cryptocurrency and one of the most expensive ones even today.
The quality of the round-the-clock coverage of crypto news and data, the disintermediation of ACH transfers, the increasing merchant adoption of Bitcoins, and the growing number of ICOs, have all contributed to Bitcoin’s value over the past year.
It went to a net low price of $4000 in March amid Covid-19.
The current price forecast is very much plausible. The new gauges are extremely consoling. As per City Bank it could ascend in cost, to cross the $100,000 mark before the finish of 2021. It could hit as much as $300,000 one year from now. Sounds like a fantasy? Yet, don’t stress out, Bitcoin has made investors rich and poor at the same time as per previous trends.
2. Ethereum (ETH)
Undoubtedly it is the second best cryptocurrency even today. It price has increased over the years, just like Bitcoin. The recent upgrades in Ethereum can be the reason of its popularity among the investors.
Furthermore, its acceptance by some mobile applications is one the major reasons why it’s ranked to be the best cryptocurrency to invest in 2021.
3. Ripple (XRP)
Another digital currency that is being used for payments is Ripple. It is created by using a blockchain and distributed consensus, and is associated with new transactional solutions. Although it’s current value of $0.287as of 20.1.21 isn’t very good. This number is likely to increase substantially as more banks join the Ripple network.
Also, its cooperation with banks and financial institutions adds up to its value. Its low exchange rate and instant transfer confirmation through the central banks makes it on the best cryptocurrencies to invest in throughout 2021.
4. Litecoin (LTC)
Litecoin is another highly popular cryptocurrency with a current price of $143.99 as of 20.1.21. This virtual currency was created using a blockchain and a peer-to-peer protocol, though it does not hold the Network security of the other cryptocurrencies listed.
One of the major advantages of Litecoin it is incredibly fast with a higher block reward. Also, a single block can easily be mined in 2 minutes.
5. Cardano (ADA)
Established in 2017 Cardano was created with a well-defined technical concept and a broad community of developers. It’s one of the most technologically advance cryptocurrencies. It’s a third generation coin with the ability to keep track of transactions, handling of payments just like Bitcoin and Ethereum respectively.
It is currently priced at $0.3409 as of 20.1.21 with a potential to cross $100.00 in the years to come.
6. NEO (NEO)
NEO is a project for creating an open-source, public, network for “smart contracts,” automatic blockchain. NEO is thought of as the Chinese Ethereum, which is expected to have far more use in China than it does in the rest of the world. It has a lower barrier for entry than Ethereum, and it is thought to be a good fit for people in the Chinese blockchain industry and enterprise-like users. NEO’s total market cap is close to $1.6 Billion, and its price is $24.38 as of 20.1.21. It is likely to increase substantially over the next few years.
7. Stellar (XLM)
Stellar was created by uses a blockchain system and smart contract functionality. The environment has not been built upon proof of work. Stellar runs on a consensus algorithm. This has caused friction with cryptocurrency users because it involves a slow transaction network, which runs on the proof of stake system.
Stellar is unlikely to be a gold reserve type coin in the future, and that may contribute to the need for the technology on which it is based to improve as well. The value of Stellar is now $0.2834 as of 20.1.21.
8. IOTA (IOTA)
IOTA is currently the only project on this list that has no transaction fees. The technology includes a system for other elements of monetary transaction to be dropped or eliminated. That will allow IOTA to achieve a much lower transaction cost than any of its competitors, which will contribute to its growth potential.
The price for the token is currently $0.4410 as of 20.1.21. It is likely to appreciate significantly over the next few years.
9. Monero (XMR)
The most attractive feature of Monero is its untraceable payment platform. Transactions are secure and private. Monero is seen as the gold of the digital currency world, although it certainly doesn’t have the general market acceptance of the others in this listing. At the current value of $148.32 as of 20.1.21. Monero is likely to increase substantially over the next few years.
For those that want to win it all with their crypto investments, this is the base of the pyramid. The most highly regarded cryptocurrencies in the world are Bitcoin and Ethereum, with the latter falling to second place by it’s competitiveness in payments and ease of use. If the projections are correct, the other cryptocurrencies will trend upward. The potential increase is mind boggling, so invest accordingly.
Best of luck to you in your cryptocurrency investments!