Do you plan to buy cryptocurrencies in 2021? Cryptocurrencies are constantly making headlines, with companies like Apple, Google, Tesla, Samsung, Facebook, PayPal, and Deutsche being among the few to have recently included cryptocurrencies in their long-term strategic plans. Furthermore, many other growing companies are accepting cryptocurrencies as a legitimate means of payment, and even the future of finance.
So, how do you know which is the best crypto to invest in? What are the proven crypto trading strategies that you need to know about? To help you get started, here are 10 promising and trending cryptocurrencies that may have the potential to help you gain consistent returns.
Top 10 Cryptocurrencies to Invest in 2021
1. Bitcoin (BTC)
Bitcoin has been a prominent dominating cryptocurrency since early January 2009. In March 2021, the Bitcoin market cap reached an all-time high and had grown by over $600 billion. Furthermore, in May 2021, its market cap reached more than $1000 billion.
Over the years, bitcoin has been gaining significance as a legitimate means of payment in the business world.
- Twitch offers subscribers a 10% discount if they pay using cryptocurrencies.
- Etsy gives its vendors an option to specify the acceptance of bitcoin in their advertisements.
- PayPal lets its users in the United States buy, sell and hold (a few select) cryptocurrencies directly through their accounts.
Many other big names like Starbucks, USAA, BMW (UK), Microsoft (Xbox Store), and more are adopting bitcoin as a payment option for making purchases.
2. Ethereum (ETH)
Ethereum is the second-most popular cryptocurrency in the world after bitcoin. In April 2021, the Ethereum market cap reached new heights and grew to over $250 billion. It was the first time that this cryptocurrency achieved this height. A catalyst that is behind this recent surge is the use of decentralized finance (DeFi) applications. Ether is based on Ethereum, which is the largest and go-to blockchain for DeFi.
As more applications are added to the blockchain, there is a high possibility that Ethereum might be a primary platform. Furthermore, there are some big names who have taken a step towards making the most of Ethereum.
- JP Morgan and its partners created Quorum, which is an enterprise-focused version of the Ethereum platform.
- AWS (Amazon Web Service) has added the Ethereum platform as an option for its Amazon Managed Blockchain and aims at helping businesses that wish to use blockchain technology for their operations.
- Microsoft Azure has also built its cloud-storage platform on top of the Ethereum platform.
There are many more businesses on the long list of Ethereum’s billion-dollar partners. Therefore Ethereum-based applications are used for a wide range of industries. This makes it the most built-upon blockchain to date.
Tether is a stablecoin whose value is pegged to the US Dollar and surpassed a market cap of $60 billion. Though the crypto market is highly volatile, Tether is powered by battle-tested technology that may stand strong against price fluctuations. Furthermore, its value is roughly equal to that of a US Dollar.
Tether is said to revolutionize the mode of exchanges in the future, especially internal transactions. Experts have also predicted that the growing popularity of Tether can help investors in gaining good returns in the coming 3 to 5 years, thereby making it a profitable long-term investment.
Additional News Article: Avalanche Blockchain & Tether Launch
Cardano is among the best-performing cryptocurrencies in the market. The company’s enterprise platform lays out how Cardano is building a platform to accommodate usage in education, retail, finance, and healthcare.
In April 2021, IOHK (the company behind Cardano) announced that Cardano’s blockchain technology would revamp Ethiopia’s education system. One major benefit is that the system will create a tamper-proof system for recording information related to 5 million students across 3500 schools.
Polkadot Crypto is a next-gen, cutting-edge blockchain protocol that brings together many specific blockchains to a unified network. In 2017, the Polkadot Foundation arranged an ICO or Initial Coin Offering, similar to an IPO or Initial Public offering in the case of stocks. Through the ICO, Polkadot raised around $140 million and today has a market cap of $23 billion.
Furthermore, well-known finance companies like Goldman Sachs, ICAP, JPMorgan, and UBS have bought the first ETP (Exchange-Traded Product) that offers exposure to Polkadot’s DOT cryptocurrency for clients. With such investments and more developments on the rise, it is safe to paint an optimistic picture that the DOT token could be a successful long-term investment.
6. Ripple (XRP)
Ripple is a money transfer network that is designed to serve the needs of the financial services industry. XRP currently works on the Ripple network and has a market cap of $38 billion. What sets this currency apart is the Ripple network that brings about centralization as it maintains unique node lists which users can select and verify their transactions.
There are more than 1000 companies, stores, and services that accept XRP as payment. A few from the list include Pita Barcelona, The House of Coky, AutoSumo, and Paradox Group, among others.
7. Uniswap (UNI)
Uniswap has grown immensely with the Decentralized Finance (Defi) industry over the past few months, with a market cap of $12 billion. It is also called an ‘automated market maker’ as it lets traders swap cryptocurrencies that are stored in ‘liquidity pools’ (pairings of cryptocurrency).
Uniswap has helped push large-scale cryptocurrency adoption since day one. Uniswap is expected to continue to hold great value in the market for years to come.
8. Dogecoin (DOGE)
Dogecoin initially started out as a fun or experimental coin by Billy Markus and Jack Palmer. However, it has been in the market for 7 years now with a market cap of more than $40 billion. The cryptocurrency has gained popularity since Elon Musk tweeted about it to his 52 million followers. Many other personalities have also shared their views on this crypto and hence are making a lot of headlines.
Furthermore, steps are also being taken by companies to accept Dogecoin as payment for purchases –
- NBA’s Dallas Mavericks announced that they would accept Dogecoin payments for tickets and fan merchandise online.
- Kessler Collection (luxury resort company) is the first luxury hotel group to accept Dogecoin in partnership with BitPay alongside other cryptocurrency payments.
- AirBaltic (Latvian Airlines), since 2014, has been accepting Dogecoin, amongst other cryptocurrencies, in partnership with BitPay.
A change.org petition was created in 2018 aimed at persuading Amazon to accept Dogecoin as means of payment. We can only hope that Amazon joins the list with other companies like Suchlist, Strange Donuts, STEEM, Burger Bear, AllGamer, and more.
Binance Coin was launched in 2017 by the world’s largest cryptocurrency exchange by volume, Binance. With a market cap of more than $56 billion, the coin can be used to pay transaction fees on the Binance exchange or to just simply trade for other cryptocurrencies.
Companies have also partnered with Binance to support the acceptance of BNB as payments –
- QLink (Singapore-based mobile network) partnered with Binance to enable users to purchase ownership of a registered WiFi or VPN asset through BNB.
- Gifto, a live video streaming platform, allows purchasers to buy virtual gifts using BNB.
- ADAMANT, a messaging platform, enables users to use BNB to transfer funds to the people they chat with.
- Propy enables real estate lovers to buy and sell properties with BNB.
Many companies, like Pundi X, MoreCoin, TravelbyBit, etc., are moving towards the acceptance of BNB.
10. USD Coin (USDC)
USD Coin is a stablecoin and dollar-dominated cryptocurrency that runs on the Ethereum blockchain. With a market cap of $23 billion, USD Coin is fully backed by US Dollars held in regulated bank accounts. Each USD Coin is always redeemable for $1 if you have a US bank account.
There are more than 90 companies that accept USD Coins. Some well-known names in the list are Unicef, Tarris (travel gear), Lush (cosmetics), OMGSERV (Minecraft Server Hosting), Shipito (Package forwarding service), Epic Pants (gaming and nerdy apparel), and many more.
Cryptocurrencies are here to stay. But investing in them needs severe caution. As you determine which cryptocurrency is the best investment option for you, also consider the pace at which transactions happen, the fees associated, and the ability to use the crypto for regular purchases and bank transfers.
It is also important to buy and hold crypto securely. Furthermore, if you want to generate consistent returns, you can invest in expert trading strategies through automated trading bots on Mudrex. With Mudrex, you can invest in 100% automated trading bots. These profitable strategies at Mudrex are created by expert traders with total security and reliability, giving you peace of mind. It is safe to say, Mudrex is the high-performing automated trading platform you are looking for.
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