Cryptocurrencies are a popular investment option these days and for good reason. They can be lucrative, offer tax benefits, and some even provide equity-like returns. But the market is notoriously volatile, and there’s always a chance of losing your money which is why you need to do your homework before investing in anything.
In this blog post, we’ll explore ten different cryptocurrencies that you should be on the lookout for in October 2021.
Top 10 cryptocurrencies to invest this month
1. Bitcoin (BTC)
Bitcoin needs no introduction. With over $1 Trillion in market cap, it still is one of the most trusted investment options. While it remains to be seen what the future holds for Bitcoin, we should expect that it will continue to dominate as the largest cryptocurrency until other currencies start catching up.
2. Ethereum (ETH)
A few years ago, Ethereum was just an emerging cryptocurrency that was starting to grow. Fast-forward to today, and Ethereum has rocketed into the second highest market capitalization after Bitcoin with a market cap of $420 billion.
Ethereum has operated as a decentralized platform for applications (Dapps) programmed to have no single point of failure. Since its launch, Ethereum has rapidly grown to become the most widely used platform for launching decentralized smart contracts and ICOs.
3. Cardano (ADA)
Cardano is still relatively new, but it has made a name for itself in the cryptocurrency market. Currently, with a market value of nearly $70 billion, ADA aims to become the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach.
4. Tether (USDT)
Tether is another cryptocurrency that has been around for a few years, but it continues to be very popular. In recent months Tether has been under a lot of scrutiny due to claims that the company behind the cryptocurrency does not have USD backing.
However, despite these allegations, Tether still remains among the top cryptocurrencies. With a total market cap of $68 billion, it’s a cryptocurrency to look into when making your next investment for a more stable approach.
5. Ripple (XRP)
Ripple is an exciting cryptocurrency. Although it’s far behind Bitcoin and Ethereum, Ripple holds the 5th largest market capitalization at $51 billion while retaining its spot among the top 5 cryptocurrencies.
Ripple aims to connect banks, payment providers, digital asset exchanges and corporates via RippleNet to provide one frictionless experience to send money globally.
6. Solana (SOL)
Another new and interesting cryptocurrency that needs to be mentioned here is Solana. SOL has a market value of nearly $42 billion and it’s definitely one of the cryptocurrencies we should keep an eye on in 2021 and beyond.
Solana’s goal is to solve the limitations of other networks such as Bitcoin and Ethereum by building the world’s fastest blockchain. Solana claims to be able to process more than 710k transactions per second, which is an incredible speed compared to Bitcoin’s paltry 3-7 transactions per second.
7. Polkadot (DOT)
Polkadot is interoperable blockchain technology. With a current market value of nearly $33 billion, DOT aims to become a censorship-resistant and permissionless protocol for transferring value and data between blockchains.
The company behind the coin claims that it will allow multiple independent chains to transfer messages securely through a scalable validation mechanism.
8. USD Coin (USDC)
USDC is a fully collateralized US dollar stablecoin. Launched in September 2018, it aims to become the most reliable digital currency for transactions, money transfers and trading with others via smart contracts. With a current market value of $32 billion, it’s definitely one of the cryptocurrencies worth looking into since it’s only starting.
9. Dogecoin (DOGE)
Dogecoin is another interesting coin that has been around for a few years now. After gaining massive popularity as the internet meme-based cryptocurrency with a dog as its icon, DOGE continues to be one of those cryptocurrencies that just won’t die.
With a market value of $32 billion, DOGE has a dedicated community that uses the currency to reward other users for their efforts in building a better internet.
10. Terra (LUNA)
Terra is a decentralized stable coin program that’s built on the Ethereum blockchain. It has a current market value of $18 billion, and it aims to become the most reliable, scalable, private & transparent cryptocurrency for trading goods and services with others via smart contracts.
The Bottom Line
Cryptocurrencies can be a tough one to navigate, but we hope this list of the top cryptocurrencies to invest in October 2021 will help you find your way. New and old coins alike are among those that have survived for years or even decades, and it’s only natural they would make up such an interesting market.
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