- Demand for Cryptocurrencies skyrocketed with pricing reaching new heights
- Trading in Cryptocurrencies should be done cautiously because of volatility attached.
- Among thousands of cryptocurrencies available, it is crucial to ascertain the right cryptocurrency for investment
2021 year saw Cryptocurrencies gained immense popularity with prices reaching new heights and crashed down to the bottoms within few months. Hence, before getting into the cryptocurrency market, it is crucial to ascertain the right cryptocurrency for investment out of thousands of different kinds.
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Which are the top cryptocurrencies to invest in?
Bitcoin is the first and oldest cryptocurrency. Presently, it has the highest value and even dominates the movement of the crypto market. The course of the currency shows that it is a highly volatile currency. It is also referred to as “digital gold”, as its supply is limited, and scarcity leverages its prices. Moreover, bitcoin gained popularity because it is widely accepted as a medium of payment by large merchants.
After bitcoin, Ethereum is on the radar of crypto investors. Ether is the currency that works on the network of Ethereum. It is an open-source blockchain that provides a platform to developers across the globe to build their own applications and other cryptocurrencies. The value of Ether has risen by more than 900% since its introduction in the market in 2013.
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Cardano is also termed as the Ethereum killer, as the blockchain technology employed by it is seen as the rival of both bitcoin and Ethereum. In comparison to other currencies, Cardano has the capability to stabilise itself. Due to this fact, it is strong crypto to invest in.
Bitcoin cash has the huge potential to grow in the crypto market because of the low transaction fees and capability to process the transaction in no time. Moreover, bitcoin cash provides scalability.
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This cryptocurrency stands out in the market because of its unique mission, that is, collecting all the blockchain technologies. The currency is growing because of the feature’s governance, speed and security. It has the potential to scale globally.
The dogecoin gained popularity because of the celebrities like Mark Cuban and Elon Musk. It is the riskiest cryptocurrency as it does not have any purpose like the above-discussed currencies. However, in the last few months, it has provided record-shattering returns to the investors.
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It is a low-priced currency that changed significantly in terms of valuation significantly. With the increase in the demand for Apps, the market capitalisation of TRON reached over four billion.