As the buzz continues to surround cryptocurrencies and with over a thousand cryptocurrencies on the market today, it can be a challenge to narrow down and pick a select few. But here we have helped to make your choice a little easier by picking 10 of the best cryptocurrencies that look to be the best buys right now.
- Top 10 Cryptocurrencies That Are Screaming Buys:
- Understanding Cryptocurrency
- Different Ways to Spend Cryptocurrency
- Are Cryptocurrencies a Good Investment?
- Top 10 Cryptocurrencies To Invest In
- How To Invest In Cryptocurrency
- The Bottom Line
Cryptocurrencies have been around for the past decade but these assets have been taking over more so over the past year with many investors both beginner and experienced looking to buy in on the action. But with over 5000 cryptocurrencies to choose from, how do you look to find the top 10 best crypto coins to invest in?
Below we have picked 10 of the best cryptocurrencies that are screaming buys right now along with more information on what is involved in cryptocurrencies and how to look at investing in crypto coins.
Top 10 Cryptocurrencies That Are Screaming Buy:
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To start at the beginning it's worth knowing that investors can look to add cryptocurrencies to their portfolio along with any other investments. But try not to get confused as cryptocurrency is not the same as stocks or other investments on the market.
Cryptocurrencies or crypto assets is the term used for various digital currencies that are distributed across a large network of computers. Blockchain technology is a collection of organisational methods that ensure that true, honest and secure transactional data is archived in order to secure online payments. Alongside blockchain reduces double-spending and also seizes currencies from being duplicated.
In simpler terms, cryptocurrency is an electronic cash system that uses cryptography in order to confirm and make transactions under the public ledger blockchain, without having any involvement from any central banks, governments or any third parties.
These digital assets are most commonly traded directly from peer-to-peer payments, by investors looking to buy and sell cryptos on cryptocurrency exchanges and lastly by being available to invest in on various digital trading platforms.
Unlike other investments, cryptocurrency has no intrinsic value meaning that these assets go off what a buyer is willing to pay for them, and are only worth the amount that they are bought for. Due to that factor, this can make these investments unpredictable and can be hard to give a try indication of their actual value.
In relation to storing and spending cryptocurrency, there are a few options that investors can take into consideration.
Firstly, investors will need to look to get a “Wallet” for your cryptocurrency that can be stored in various ways which include digitally via online wallets, available to download to your desktop or you can even look to choose a mobile wallet - all of which you can access at any point and provides as an address for your funds.
Investors should also be aware that there are paper wallet services that can store tokens too. A paper wallet is a printed piece of paper that contains QR codes and keys that are designed to help cryptocurrency transactions.
Besides buying and holding cryptocurrencies investors can even be gifted these tokens by someone.
Different Ways to Spend Cryptocurrency
When it comes to looking at how to spend cryptocurrencies this can also be carried out in a number of ways.
Firstly, investors can look to connect it to a debit card that enables investors to spend crypto like it was cash. For example, Visa has a card specifically designed for this activity along with MasterCard. So if you see that these two cards are accepted wherever you are looking to make a purchase, you will most likely be able to use your crypto funds.
On that note, it is worth noting that different crypto companies do work with and offer an array of different cards, so it's worth looking into this before you jump straight in. A good example of a cryptocurrency that accepts most cards is that of Bitcoin, the most popular cryptocurrency on the market today. But keep in mind that these cards may even come with fees which you have to take into account.
A second option is that there are a lot of retailers that will allow you to use and accept cryptocurrencies, especially Bitcoin. Companies such as Microsoft and Virgin Galactic to name two who accept payment this way, but again it can be subject to fees so it's worth checking beforehand. Alongside, there are many payment processors that also accept cryptocurrency such as Shopify and Square who have recently rolled out their Bitcoin marketplace options for individuals who are looking to purchase this way.
Are Cryptocurrencies a Good Investment?
When it comes to determining if these investments fall into the "good" investment category or the "bad", just like all investments these assets still hold their own strong risk factors as well as holding their advantages.
If you look at investing solely in one cryptocurrency this is where the stronger risk elements will lie and can be extremely volatile, especially as these investments are new compared to other investing options. Another factor to keep in mind whilst on the subject of these investments being one of the newest members is that the majority of cryptocurrency companies do come with a lack of historical and visible data. This means that it can be challenging to see if these assets will perform and if these companies will cause any disruption to your portfolio due to a lack of data.
On the positive side if you look at adding a collection of cryptocurrencies into a diversified portfolio these assets should blossom nicely whilst maintaining that good balance within your collection. Along with looking to offer you good returns and hold lower transaction fees compared to other investments on the market.
Now we have looked at a few of the basic elements of what is involved in cryptocurrencies, now let's take a look at 10 of the best crypto coins to invest in 2021.
What are the top 10 Cryptocurrencies That Are Screaming Buy Right Now?
1. Bitcoin Cash (BCH)
If you are new to cryptocurrencies the odds are you will have heard at some stage of the popular crypto Bitcoin. Bitcoin Cash on the other hand is a branch of the original Bitcoin Blockchain.
In relation to Bitcoin, it has fallen significantly over recent months to where it sits now at $33,175, almost a double-drop from its May highs of $64,863. Similarly, Bitcoin Cash (BCH) has also witnessed strong volatility over recent months yet looks to be bouncing back trading at $488, a 32% decrease from its 30 day high of $735.
BCH is known as a “Fork” off Bitcoin and true to form is one of the largest fork’s based on market capitalization and active users. And as the world pushes forward through its biggest ever recovery, Bitcoin Cash has shown it can outperform Bitcoin by rising above 20% within a 24 hour period, whereas BTC only gained 10% within the same timeframe.
Bitcoin Cash is not as expensive as Bitcoin which is another strong reason why more individuals look to BCH. Secondly, it has a very similar background to Bitcoin making this another standout feature.
BCH is ever changing making it a complex asset that can fluctuate with extreme price swings that similarly holds very high risks that can cause an extreme roller coaster ride for investors.
When it comes to Bitcoin Cash being a good investment for the long-term a good indication to see how well it can do is to keep Bitcoin heavily in mind, as depending on how well Bitcoin operates in trading terms BCH will more than likely continue to follow suit or if not see further rises.
If you are an investor that is looking to be a part of the Bitcoin action but at a smaller fraction of the cost that could see greater gains, then Bitcoin Cash is the crypto for you.
2. Ethereum (ETH)
Ethereum is the second-largest virtual currency on the market and was one of the first trusted cryptocurrencies to enter this market after it enabled the way to create both mobile and desktop applications powered by blockchain technology.
When you compare Ethereum to Bitcoin, ETH has a market capitalization of $259.9 billion compared to Bitcoin’s market cap of $645 billion, yet ETH has over 116 million ETH coins in circulating supply compared to 18.7 million bitcoins. Alongside, this cryptocurrency is much more stable and holds a lesser volatility rate due to more trusted investment and is quicker to acquire than its biggest competitor.
In recent times all cryptocurrencies have been through a tough time and ETH has been no exception it is trading at $2,127 per token.
But this now makes Ethereum an even more attractive buy as it looks to be the best crypto in terms of value, especially when it looks to bounce back up again.
ETH is also looking to improve its energy usage with Ethereum 2.0, a major upgrade designed to increase transactions throughout the network into the tens of thousands up from its current 15 transactions per second, and also enables a stronger defence against any hacker activity.
Based on value and past and current performances ETH is looking to be a better investment than that of Bitcoin in our opinion.
Read Also: Will Ethereum Make Me Rich In Ten Years?
3. Ripple (XRP)
One of the original blockchain start-ups Ripple (XRP) is looking to be one of the cheaper crypto investments that investors can look to add to their collection.
XRP currently holds a market capitalization of $31.7 billion putting Ripple in the top 10 spot based on market capitalization and holds a steady price of $0.66 per token.
One big difference between XRP and other cryptocurrencies on the market is that most are decentralized whereas Ripple is not, which could be a reason why this cryptocurrency flies more under the radar than others.
But having said that, XRP is in collaboration with over 300 financial institutes that hold strong credibility including having some of the world's well-respected brands such as Santander and American Express that uses Ripple’s Services.
The one main point that is leaving many investors to hold off investing in XRP and the reason as to why it is priced cheaply is mainly due to its ongoing legal battle with the US Securities and Exchange Commission (SEC), over a dispute that the SEC believes that Ripple is violating federal security laws by selling unregistered securities made up of $1.38 billion to fund the company’s operations.
Based on the way that Ripple works compared to others on this list makes XRP a more impersonal investment, and if the on-going lawsuit with the SEC turns into a victory for Ripple, XRP is looking like it could be the prime crypto investment as it looks to continue to impress with its payment system.
4. TRON (TRX)
According to Tron.network, TRON is the fastest-growing public chain on the market that currently has over 35 million accounts and has made over 1.9 billion transactions.
Now having its own blockchain platform after initially being developed over Ethereum, TRON now offers it all and it is expected to rise moving forward with its decentralised operating system that has the ability to hold many applications. Along with TRX having its hands in many avenues including in popular trends such as NFTs, dApps and many more.
TRX sits on a market capitalization of just above $4.77 billion as of today and is trading at $0.064.
Having more decentralized apps compared to its first start out Ethereum, is one key feature that is making Tron TRX a more popular crypto investment for many. Secondly, TRX operates much quicker than Ethereum.
As the world continues to slowly open up this should see TRX’s price rise significantly, and according to CryptoGround they believe that the TRON coin could expect the value to reach $0.1447 in the next 5 year long-term outlook.
Don't Miss: TRON Price Predictions
5. Cardano (ADA)
Cardano has reached new milestones across the board over the past year and to add another to the list the Cardano platform has reached over 1 million wallets according to its Cardano Foundation.
The way that Cardano operates and has been designed is different to others on the market as it has two blockchains that have merged into one named Ouroboros. Ouroboros is a family of proof-of-stake blockchain protocols that work in two ways permissionless and permissioned in order to keep movement fast and controlled in some aspect.
According to data, using proof-of-stake blockchains also looks to use less energy, which in contrast to the leading cryptocurrencies such as Bitcon and Ethereum who operate using proof-of-work protocols, is a more eco-friendly way of operating.
Furthermore, Cardano is looking to expand and upgrade its ecosystem in 2021 including launching a converter that will enable individuals to swap supported Ethereum tokens with Cardano tokens providing another new unique and attractive marketing point.
As of today ADA is trading at $1.35, and according to Coindesk ADA has given YTD returns of just above 700%.
Read Also: What Will Cardano Be Worth In Five Years?
6. Litecoin (LTC)
Arguably one of the most in demand cryptocurrencies right now is Litecoin (LTC).
In recent days following on from the crypto decline, LTC is now trading at $136.
If individuals look to steer away from Bitcoin (BTC) as their go-to crypto asset then LTC looks to be the next best thing as it is almost identical to BTC. In fact, Litecoin holds stronger advantages over Bitcoin when it comes to lower fees and quicker and faster transactions which means that when everything decides to stabilize Litecoin looks to be a better value for money.
On that basis, Litecoin is looking to be the best asset closest to BTC but at a more affordable price, and aside it is also looking to be a more popular option as a secondary investment as more users look to diversify their portfolio.
7. Dogecoin (DOGE)
The payment system that was created from the start as a joke is still providing entertainment almost 8 years later. And with the likes of Elon Musk backing Dogecoin over Bitcoin, leads to believe that Dogecoin is only going to continue moving in one direction.
The meme-based cryptocurrency has impressed over the past year by reaching an impressive rise of around just under 12,000%, and individuals are still optimistic that there is much more room for growth with some making predictions that Dogecoin’s price could even stretch to over $1 per token from where it is currently trading at $0.24 per token.
One of the main reasons why many users are looking to Dogecoin as their preferred crypto is largely based on Elon Musk’s recommendation, as many believe that he knows a good investment when he sees one. As Elon continues to take to the social media platform Twitter in order to express his thoughts, he has stated that it is in all seriousness that he trusts and believes that Dogecoin is the best cryptocurrency on the market.
Another added feature for users is that Elon Musk’s SpaceX now accepts Dogecoin as a mode of payment with Musk himself now further pushing speculation that this could also be the case with his other big firm Tesla.
Read More: Pros and Cons of Investing in Dogecoin
8. Internet Computer (ICP)
One of the latest cryptocurrencies to come to the market is Internet Computer (ICP).
Since ICP’s entry into the crypto market over the past month it has made a spectacular display, and is now sitting on a market capitalization of around $6.58 billion and currently trades at $46 upon writing this report.
Internet Computer is a digital token that runs under its own protocol name, Internet Computer Protocol and is designed to allow individuals to build and explore a new internet without having to opt to use services from leading brands such as Amazon, Google and Facebook.
There couldn't have been a more opportune time for ICP to come to the market as internet services are the latest buzz that is surrounding the crypto market, take Dogecoin as another prime example.
With big backing from investors and management teams, ICP looks to be a good investment as it has the edge of sealed approval making it an easier choice for buyers to jump on board.
9. EOS (EOS)
The next cryptocurrency to come in on the list is EOS.
Launched back in 2018 EOS is the same as most cryptocurrencies on the market today, with its initial goal looking to be a rival to one of the largest cryptocurrencies on the market, Ethereum. Sadly EOS is not on that level of scale just yet but who’s to say that this can not happen potentially in the future.
But the positives for EOS, in light of other cryptocurrencies being placed more firmly in the limelight, is that it has allowed EOS to fly under the radar and is now holding a current value of $3.92 upon writing this report. Secondly, EOS is looking to strengthen its positioning with Bullish Global moving onto the EOS’s cryptocurrency exchange at some point in 2021.
To give you an indication of how that may impact EOS when Block.one announced it had a new subsidiary, Bullish Global, EOS jumped almost 50% within 24 hours. This move is looking like a good position for EOS to deliver good gains moving forward.
10. Uniswap (UNI)
The last cryptocurrency to come in on the list of the top 10 cryptocurrencies that are screaming buys right now is Uniswap (UNI).
Uniswap is a decentralized finance protocol that facilitates automated transactions on the Ethereum blockchain through smart contracts. Another added advantage that UNI holds is that the DeFi coin has become the first decentralized exchange that holds the option of offering both margin and leverage trading options.
Uniswap UNI held the title of being the fourth largest cryptocurrency exchange back in October 2020 based on its daily trading volume, and as of March 2021 it has been reported that UNI managed to generate fees of approximately $2-$3 million daily for liquidity providers.
Fast Forward to recent days, UNI is trading sitting at $18 and should look to go higher, especially in light of Uniswap v3 coming into play.
Uniswap v3 is a new and improved version of Uniswap v2 but with new groundbreaking improvements. Uniswap’s oracles are now faster, easier and cheaper to combine and transactions that are made on Optimism deployment will also be substantially cheaper providing stronger liquidity at desired prices for users.
And there you have 10 of the best cryptocurrency to look to in 2021. Not only are these 10 cryptocurrencies the best performing over the year but many have managed to maintain an increase in gains over the short years crypto has been available, giving them that upper advantage over others.
Don't Miss: Uniswap Price Predictions
How To Invest In Cryptocurrency
After exploring the top 10 best cryptocurrencies to invest in for 2021, now it's time to look at how to go about investing in these sought after investments.
Here is a small step-by-step guide into investing in cryptocurrencies:
1. Allocate a small percentage to cryptocurrency.
Just like any investment, it is recommended that you think it through thoroughly before jumping to invest, especially when it comes to cryptocurrency as prices can be rather attractive but can be costly if you don't use due diligence.
Having a small collection of these assets, roughly around 5-10% within your portfolio would be ideal, to level out volatile. It's wise to remember that cryptocurrencies are not stocks and are not primarily designed to build wealth over time as they are mediums of exchange. Having said that, it doesn’t mean that these assets can't appreciate in value as they could perform well giving good returns in the mid-long term.
2. Pick your chosen cryptocurrencies
One of the toughest choices to make is to which cryptoassets you are looking to choose as there are thousands of options you can look to choose from, and no doubt more will add to the list of thousands. This is why we have looked to make this part of the process that bit easier for you with the top 10 cryptocurrencies listed above.
As you may be aware Bitcoin is the most popular, the most in-demand and the largest crypto on the market today, as it continues to draw in more investor and media attention globally with some individuals even relating cryptocurrency directly with Bitcoin until they conduct further research.
On that basis, that doesn't mean that Bitcoin is the safest and the most reliable bet for investors when looking to invest in cryptocurrency, which is why it is wise to look at other cryptocurrencies that have performed even better than Bitcoin that include Ethereum and Ripple.
Due to the fact that these assets can disappear as quickly as they can appear, and sometimes without any prior warning, making these investments extremely volatile investments and should be handled with care when investors look to add these assets to their portfolio collection.
3. Choose the right platform to buy cryptocurrencies.
Unlike other investment options, cryptocurrencies offer a very limited way of being able to invest in these assets. Predominantly cryptocurrencies are bought and sold on dedicated cryptocurrency exchanges.
Having said that, there are plenty of digital online trading platforms that offer this service to investors but it is worth shopping around to find the right platform that suits your investing needs. Meaning that if you are also looking to invest in other assets aside from crypto look to choose a platform that offers you the most.
One platform that we highly recommend for all cases is the leading digital trading platform eToro. When looking at cryptocurrencies specifically, eToro offers a platform along with a wallet that enables its clients to access the world of crypto assets. From simple credit card transactions to transferring coins, eToro has it all and more to begin your journey into cryptocurrency.
4. Store and secure your cryptocurrency
Once you have picked your chosen cryptocurrencies the next and final points to undertake is to look at storing and securing your assets.
As previously mentioned storing your crypto assets is normally carried out by placing your cryptos within a wallet. Typically, this involves two popular forms of storing your assets that include Hot Wallets, a tool that enables investors to receive and send tokens online that doesn't require any dedicated bank action nor any third party or physical wallet action. The second type of tool that investors can look to hold is a Cold Wallet, the opposite to a hot wallet. This means that this tool is not connected to the internet and only looks to get connected when investors are looking to make a transaction. A cold wallet can come in the form of a hardware or paper wallet, holding a physical presence where it stores private keys making these tools a safer way to invest as these are almost unreachable for hackers if the right care is provided.
To make it clearer a cryptocurrency wallet is a software program that stores both private and public keys that are connected and connects to the blockchain where cryptocurrency operates. Both keys, private and public are needed when an investor is looking to make a transaction as this unlocks an investors cryptocurrency onto the blockchain.
When looking to secure your cryptocurrency extra care needs to be made when looking at Hot Wallets or if you are looking to make any purchases online due to hacking scams.
If and when you are looking to use crypto online, look at making your investment secure by looking to use a VPN (Virtual Private Network) to give you that added protection, adding strong passwords to enter your crypto wallet or potentially consider using a trusted password manager to obtain a unique password for extra security and lastly, it's wise to stick to a reputable company when looking to obtain a wallet, mobile app or looking to obtain a broker as you see the company will show you the features they have in place in order to protect individuals data along with giving guidance to help strengthen and limit risk elements along the way.
The Bottom Line
Investing in cryptocurrency has become the latest investment trend over the decade but more so over the past year, and it looks as though it's only going to rise further looking ahead all thanks to the likes of social media platforms, the media and influential individuals sharing their views on investing in the top-performing cryptocurrencies.
However, even though this avenue is an exciting new route to take, it's wise to be aware that investing in cryptocurrency holds strong risk factors that could take hold at any given moment. This leads to the point why it is also wise not to hold or place all your funds in just one cryptocurrency - it pays to hold a collection and carry out additional research before jumping to invest in any crypto asset.
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Virtual currencies are highly volatile. Your capital is at risk.