What are the top 6 currencies you should have invested in 2021?
If you think the interest in cryptocurrencies peaked in 2020, you will be surprised to know that the popularity of the digital currency market has reached new heights this year! When Bitcoin was launched almost a decade ago by the mysterious Satoshi Nakamoto, no one would have predicted the fast rise of the market. Today there are thousands of coins, and trading in crypto has become a legitimate business for many people.
If you are new to the crypto market and want to know some of the best cryptocurrencies that you can invest in 2021, this blog will make your choices easier than ever!
- Bitcoin – BTC
$1000 invested a year ago would be worth approximately $3,401 today!
The most popular cryptocurrency in the world is still the top bet for trading and investing. Bitcoin crossed the price of $60,000 earlier in 2021 before correcting and testing the support of $32,000. With more than a trillion dollars in market cap, BTC is still the go-to cryptocurrency for traders in 2021, and the trust in the coin will only increase as more and more businesses start accepting it as a mode of payment. So if there is one coin that you can buy for the long term, BTC should be your choice!
- Dogecoin – DOGE
$1000 invested a year ago would be worth approximately $128,993 today!
If there is one coin that can rival the popularity of Bitcoin, then it is the “meme coin” DOGE! Started as a joke by software programmer Jackson Palmer and Billy Markus, DOGE has seen the most rise in price in 2021 thanks to small-time investors and Tesla founder Elon Musk. The entrepreneur has hyped the coin so much that in May 2021, Musk’s company SpaceX tweeted about how Dogecoin funded the first rideshare journey to the moon! There is certainly some risk involved if you are trading DOGE, but the upside has no limit, and one tweet from Elon Musk can make you a millionaire!
- Ethereum – ETH
$1000 invested a year ago would be worth approximately $10,325 today!
Created by Vitalik Buterin, Ethereum is a leading software platform entirely decentralised and allows users to build Smart Contracts and Decentralised Apps. The platform currency – Ether (ETH) is the second-largest crypto coin by market cap and popularity! During the crypto market bull-run, ETH reached an all-time high price, crossing the $4000 hurdle. Many experts believe that the technology is revolutionary and hence traders and investors have high hopes for the coin. Many trusted financial analysts such as Goldman Sachs have predicted that ETH will continue its rise and touch the price of $10,000 in the upcoming decade.
- Binance Coin – BNB
$1000 invested a year ago would be worth approximately $20,093 today!
Binance Coin, or BNB known in the crypto market, is a token launched by the popular cryptocurrency exchange Binance. Based on Ethereum technology (ERC20), the total number of coins in the market recently crossed 200 million, making it one of the most in-demand coins in 2021. In the past year, the coin has given a fantastic 20x (times) return on investment and will continue to be an attractive choice for investors in the coming years too.
- Ripple – XRP
$1000 invested a year ago would be worth approximately $4,263 today!
First released in 2012, Ripple is a prominent digital payment network and a cryptocurrency created by Ripple Labs. XRP token was released to make decentralised payment for financial transactions easy, and in the last decade, it has become one of the most popular coins in the crypto market. In 2021, XRP has already given 4 times return on investment, and with the market going past $25 billion, the future of XRP is bright!
- Cardano – ADA
$1000 invested a year ago would be worth approximately $18,343 today!
ADA is an internal cryptocurrency of Cardano, an open-source project built to enable users to easily create smart contracts on the blockchain platform. In 2021, ADA saw a massive rise in its market cap and popularity. Developed by Ethereum’s co-founder Charles Hoskinson, the team developed the platform in 2015 and finally launched it in 2017. Since then, ADA has been in tremendous interest from traders and investors, taking the market cap beyond $40 billion, signalling that there are bigger targets to achieve for the ADA cryptocurrency.
In May and June 2021, the cryptocurrency market has seen a healthy correction of prices after a tremendous bull run. However, if you are disheartened that you missed out on some beneficial wealth creation opportunities, don’t give up just yet! Market experts believe that some popular coins have bottomed out, and their journey to a new all-time high will begin again!