Analytics Insight has listed the most valuable cryptocurrencies where people can invest in 2021
‘Cryptocurrencies‘ is not just a buzzword, it is a trending way of investment. However, Bitcoin is the face of cryptocurrencies. Ever since its launch in 2009, Bitcoin has been on a roller coaster ride. First, it fell drastically, and then, the digital currency reached an unprecedented height. Following Bitcoin’s popularity, more and more people have started investing in valuable cryptocurrencies to yield profit. Other cryptocurrencies like Ethereum, Dogecoin, Binance Coin, etc are also on the victory path. The biggest reason for cryptocurrency’s success is its resistance to government exploitation and control. Even though the volatility and instability have come under fire, people still choose cryptocurrencies in 2021 as a profitable investment mode. Analytics Insight has listed the most valuable cryptocurrencies of 2021 where people can invest in.
Most Valuable cryptocurrencies of 2021
Bitcoin is a famous cryptocurrency that was created in January 2009. Even though its origin and the person behind Bitcoin’s creation is still a mystery, more and more people are investing largely in digital currency. One of the big reasons behind its undisrupted investment flow is the lower transaction fees than bitcoin offers. It is comparatively lesser than the traditional online payment mechanism. As it is operated in a decentralized model, governments can’t intervene in the process and moderate it. Once a user creates a bitcoin address, they can create more whenever they need one. Unfortunately, the bitcoin value has been going down since Elon Musk pointed its impacts on climate change. Furthermore, the People’s Bank of China’s announcement on reiteration of digital tokens as a form of payment also contributed to its plummet.
Ethereum is the most traded cryptocurrency after bitcoin. Launched in 2015, the digital currency is unique for its open-source, blockchain-based, decentralized software platform that provides an extra layer of security to investors. Ethereum is also a programming language that helps developers to build and publish distributed applications. Cryptocurrency enthusiasts see bitcoin’s fall as a chance for ethereum to make it to the top. This week, Ethereum reached an all-time high of US$3,456.57 as the cryptocurrency extends a rally that has seen its price gain over 350% this year.
Binance Coin is a digital coin that is availed to trade and pay fees on the Binance cryptocurrency exchange at 0.1% per trade fee. The Binance coin offers several uses such as trading, transaction fees on the Binance exchange, credit card payments, payment processing, booking travel arrangement, entertainment, investment, loans, and transfer, etc. The US Department of Justice (DOJ) and the Internal Revenue Service (IRS) have opened an investigation into Binance coin exchange to focus on potential money-laundering and tax violations by US citizens using the platform. Owing to the chaos, this week, the Binance Coin’s price has been forming ebbs and flows, which has been igniting more volatility in the market.
Tether is a stablecoin that aims to keep the cryptocurrency valuation stable. Tether is highly preferred by digital currency investors who want to keep away from volatility while also maintaining gradual growth. The Tether project was started as Realcoin, founded in 2014 by entrepreneurs Brock Pierce, Craig Sellars, and Reeve Collins. Unfortunately, Tether is also facing law enforcement trouble over its legitimacy. This week, the cryptocurrency has announced that it will make available its stablecoin token as a native asset in Avalanche, a smart contract platform that has picked steam in the last year.
Cardano is a decentralized third-generation proof of stake blockchain platform. Launched in 2017, the digital currency’s functionalities are similar to that of other blockchain cryptocurrencies like Ethereum. However, Cardano stands out from the others as the developers use peer-reviewed scientific research as the building blocks for updates, to make sure any changes made are useful and scalable. With a leading team of engineers, Cardano exists to redistribute power from unaccountable structures to the margin and be an enabling force for positive changes and progress.
Dogecoin, a meme-turned cryptocurrency is taking investors by storm as the price surges drastically over the past few days. Dogecoin is also one of the top trends on Google. Since its beginning in 2021, Dogecoin has surged over 1,900%. The digital currency came to the spotlight after big names like Tesla’s CEO Elon Musk, rapper Scoop Dogg, and rock bank Kiss’ bassist Gene Simmons took to Twitter to express their views about it. Especially, the last week alone, the price of Dogecoin surged over 400%, thanks to increasing remarks by Musk.
XRP is a technology that acts both as a cryptocurrency and a digital payment network for financial transactions. First released in 2012, XRP is an open-source, permissionless, and decentralized blockchain technology that can settle transactions in 3-5 seconds. Recently, a large XRP Wallet has transferred US$93 million worth of digital currency to an unknown wallet stirring controversy. XRP holders are petitioning the US Securities and Exchange Commission (SEC) head Gary Gensler to terminate the lawsuit against digital payment giant Ripplet o tackle loss.
Polkadot is a next-generation blockchain protocol connecting multiple specialized blockchains into one unified network. The digital currency aims to create a web where its identity and data are safely secured from any central authority. Designed as part of a broad vision for a web that returns control to individuals over internet monopolies, Polkadot builds on the revolutionary promise of previous blockchain networks while offering several fundamental advantages. Recently, Fintech Current, a financial service app said that it will integrate a Polkadot-based decentralized finance (DeFi) platform into its core banking product.
Internet Computer is a digital token that runs on its own proprietary protocol called Internet Computer Protocol, which is supposed to let anyone build software or publish content on the Internet without using services from big companies like Amazon, Google, or Facebook. The cryptocurrency was born out of Dfinity. Dfinity was founded in 2016 by Williams, a serial entrepreneur and Dfinity’s chief scientist. Internet Computer is the new Bitcoin where investors bet high amounts on.
Bitcoin Cash is a split-off of bitcoin that is used to solve some of bitcoin’s issues as it grew more popular. Developed in 2017, Bitcoin Cash is a version of Bitcoin that implemented an increase in the transaction capacity. Despite their philosophical differences, Bitcoin cash and Bitcoin share several technical and technological similarities. Recently, the Bitcoin Cash upgrade was applied successfully to the blockchain, bringing a slew of features directed towards improving the overall experience of users.
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