Praveen Yadav | Jul 25, 2021 | 0
THE BEST CRYPTOCURRENCIES TO INVEST IN 2021
Cryptocurrencies are still attracting investors with regular headlines around the values and insane profits that crypto investors are making. If you are looking to invest in the cryptocurrency market, it is not too late. Here are some cryptocurrencies you must watch out to invest in 2021.
What’s all the hype around Ethereum lately? The second-largest cryptocurrency by market cap (US$225.19 billion) is expected to receive some blockchain upgrades that are fueling its price. Etherum’s network was the first to introduce smart contracts and other altcoins in the crypto market are built on Ethereum’s network. Along with that credibility, Etherum is increasingly being used by DeFi applications that is, making this crypto coin an investor’s favourite.
The craze about Dogecoin has not budged. Though its value right now is just US$0.2327, you would’ve become rich if you had invested in this coin during its inception. Dogecoin can be used for purchases or can be traded for other currencies. Elon Musk was a vocal advocate of Dogecoin and made headlines whenever Dogecoin’s value fluctuated. And now, Ethereum’s co-founder Charles Hoskinson has joined the pro-Dogecoin club.
3) Binance Coin
Binance Coin is a digital coin owned by Binance exchange, one of the largest cryptocurrency exchanges in the world. It ranks 4th according to its market cap of US$45 billion. Binance Coin earns the trust of many investors as its value will remain bullish as long as there is activity on the Binance exchange. Following Ethereum, Binance Coin is also looking to play a key role in NFT trading.
Tether is the leader of stable coins. Stable coins are unique cryptocurrencies whose value is pegged to a traditional currency, like the US Dollar for Tether. For investors, this means the best of both worlds, blockchain technology, and native currency. Tether, is one of the crypto coins that is built on the Ethereum network.
5) USD Coin
Tether is ranked at 3rd place on CoinMarketCap and USD Coin, a fellow stable coin is ranked 8th. Stable coins undergo minute fluctuations compared to other cryptocurrencies. Compared to Tether, USD Coin is more transparent, creating a better sense of trust within investors. If you are investing in USD Coin, you can be sure that you are getting the value of a US Dollar with every USD Coin.
Checkout more such content at: https://gogomagazine.in/category/business/