Are there cheap digital currencies with a bright future? Is there still an opportunity to invest in a new digital currency? There are a few solid and promising currencies besides Bitcoin. Choosing the best crypt investment is not easy because the cryptocurrency market includes hundreds of digital currencies. However, the difficulty of identifying the best crypto investment does not mean making your trades randomly.
Many criteria help to know the best crypto investment with a promising future. For example, the uses and solutions it provides (technology and solutions for banks and financial institutions) can be considered a good indicator of the currency’s strength.
This is a great way to reduce your risk and increase your chances by investing in solid and stable cryptocurrencies. Also, better-performing cryptocurrencies with a lower market value may be a good investment, as they have good opportunities for price growth.
Best Crypto Investment in 2021
This is a look at the most important and famous successful digital currencies, and the list also includes cheap digital currencies with a bright future:
Despite hundreds of other digital currencies, Bitcoin is still the best crypto investment of all time. Even more, the financial giant, Bank of America Merrill Lynch, has named Bitcoin the best investment asset in the last ten years.
Indeed, 2021 seems to be an excellent year for Bitcoin investors, after reaching historical price peaks for the largest cryptocurrency by market value ever. However, the noise of Bitcoin’s rises does not mean that it was the best in a market full of dozens of cryptocurrencies, whose market value exceeded one billion dollars.
Best Crypto Investment – Cardano (ADA)
Cardano was created using a research-based approach by engineers, mathematicians, and cryptologists. The project was co-founded by Charles Hoskinson, one of Ethereum’s first five founding members. After having some disagreements with the direction Ethereum was taking, he left and later helped create Cardano.
Cardano has been dubbed the “Ethereum Killer” as its “Blockchain” is said to be capable of more. However, Cardano is still in its infancy. While it has beaten Ethereum in some respects, it still has a long way to go regarding decentralized financial applications.
Cardano aims to be the world’s financial operating system by creating decentralized financial products like “Ethereum” in addition to providing solutions for serial interoperability, voter fraud, and legal contract tracking, among other things.
Dogecoin has become the best crypto investment in 2021. It is considered one of the new digital currencies, invented initially as a joke by software engineers Jackson Palmer and Billy Markus.
By 2015, over 100 billion DOGE tokens were in circulation. Its value has jumped on several occasions since then, and it now has a market value of over $ 340 million. Therefore, it is now one of the important cryptocurrencies available.
Dogecoin is up 45% in 2021, outperforming Bitcoin, which is up just 6%. DOGE also performed well in 2020, earning over 130 percent. However, Bitcoin and Ether served better during 2020, rising by 300 and 460 percent, respectively.
DOGE continues to garner a lot of attention. It could also benefit from the influence of Elon Musk, as Musk’s tweets caused shares of companies like GameStop and Signal Advance to soar. Billionaire Elon Musk also tweets about Dogecoin from time to time, which could raise its price.
Best Crypto Investment – Ethereum ETH
It is the second most traded cryptocurrency worldwide. Ethereum is a decentralized computer system connected worldwide, which uses a group of applications on which many orders are executed according to smart contracts. This process stimulates the conclusion of traditional contracts.
Many institutions and companies have been involved in its promising project, including Microsoft, Samsung, Intel, JPMorgan Bank, and about 86 other institutions that have partnered with the Enterprise Ethereum Alliance. This means that Earth’s future looks bright, mainly because it expands and engages more major companies to invest more in its project.
This, in turn, will increase the value of Ethereum, making it the best digital currency to invest in and an attractive option for trading.
Ripple can be described as the next generation of payment networks. Created to partner with the financial industry leaders, it’s still a pioneering technology in the world of fintech. This digital currency hit a record high in 2017, rising from less than a cent to more than $1.
But it witnessed a more violent downward path, and some see its currently low price as an opportunity to buy at the bottom, where it is expected to return to shine again. It is believed to be an ideal choice for anyone who wants to own inexpensive digital currencies with a promising future.
Known as “Bitcoin-Lite,” Litecoin is a very worthy cryptocurrency to invest in. The speed of transactions is the main difference between Litecoin and Bitcoin. Aside from the speed, investors are concerned that Litecoin offers a near-zero cost of conducting transactions. This makes it an ideal currency for traders interested in the external transaction cost factor.
Best Crypto Investment – Tether USDT
Tether was one of the first and most popular sets of stable coins. These cryptocurrencies aim to peg their market value to a currency or other external reference point to reduce volatility. Since most cryptocurrencies, even significant currencies like Bitcoin, have experienced repeated periods of massive volatility, Tether and other stable coins try to smooth out price fluctuations to attract users who might otherwise be wary.
The Tether rate is directly related to the US dollar. The system allows users to transfer from other cryptocurrencies to the US dollar more efficiently and in time than an actual conversion to the regular currency.
Tether was launched in 2014, meaning a new digital currency, and describes itself as “a platform supporting blockchain designed to facilitate the use of fiat currencies digitally.” Effectively, this cryptocurrency allows individuals to use the blockchain network and related technologies to engage in traditional currencies while reducing the volatility and complexity often associated with digital currencies.
In January 2021, Tether was the third-largest cryptocurrency by market cap, with a total market cap of $ 24.4 billion and each token’s value of $ 1.00.