10 Cryptocurrencies That Will Bring Sparks to Your Portfolio This Year
If you are familiar with cryptocurrency trading then you know that timing is critical to success. You need to know the right time to buy, the right time to sell, and the right time to assess your portfolio to determine how promising it is.
Now is a good time to assess your cryptocurrency portfolio to see if you are in a good position to take advantage of future market upswings. You don’t want to be caught unawares and start buying the right assets when prices are already shooting up. We are here to help you do just that.
Regardless of what digital assets you own at the moment, there is always room for improvement. In this post, we are going to discuss several assets that will improve your cryptocurrency portfolio in a radical manner. These are cryptocurrencies that will bring sparks to your portfolio this year.
We understand that everyone has different investment objectives, which is why we are going to discuss as many as ten potentially hot cryptocurrencies. It is important that you read between the lines to identify the ones that will suit you most.
Without further ado, here are the ten digital coins we believe can bring sparks to your portfolio:
It doesn’t really matter whether you already have these cryptocurrencies in your portfolio. You can buy more of the same coin if you feel strongly about it and our review aligns with your belief. You should also consider adding the ones you don’t have to diversify your crypto investment.
The Chainlink decentralized oracle network is a leading on-chain provider that allows smart contracts to securely connect to external data sources, APIs, and payment systems. It is an incredible network that has had a meaningful impact on the cryptocurrency universe. It is currently well-positioned for more exploits.
Chainlink started the year well. The Ethereum-based token was able to rise from an $11 dollar low to an all-time high of $52.88 on May 10th, 2021. It is currently selling for $19.07 but is definitely set for more bullish markets in the future.
There are many reasons to invest in Chainlink now. The network is one of the most promising networks in the crypto space. The company behind the coin has also been recognized even outside the cryptocurrency universe, with the World Economic Forum naming the startup in its 100 most promising technology pioneers of 2020.
While it was initially designed for the Ethereum platform, Chainlink has been adopted by others like Polkadot and Tezos. It is still attracting more entities, which is why investors need to get in now. Again, the price is super-friendly at the moment. The coin may explode in the near future and even a modest investment can yield a huge return.
Ethereum is one of the most popular cryptocurrencies in the world for several reasons. Many industry insiders strongly believe that it is the ultimate blockchain network because of its ability to support other networks. There is a general feeling that the more the cryptocurrency universe evolves, the more relevant Ethereum will become.
Ethereum is not a cheap coin by any means. At the time of writing this piece, ETH is trading at $2,287.03. That is a significant drop from the all-time high of $4,362.35 it achieved on May 12, 2021. There is no guarantee that Ethereum will not surpass its all-time high price in the near future. DeFi is exploding, and it centres on the network.
Besides the fact that Ethereum is the favourite platform for program developers, it has several other qualities that will keep it relevant in the crypto universe. Considering that the network has achieved so much in just five years, it is definitely one of the best performers in the digital currency world. It has moved from just $11 to more than $4,000, and there is a possibility that it will break new grounds before the end of the year.
Binance is considered by many people around the world as the best and most reliable cryptocurrency exchange. It is undoubtedly the biggest and busiest, which is why its native token is taking the crypto universe by storm. Binance coin is one of the tokens that can bring sparks to your portfolio, especially if you use the exchange.
Even if you are not a fan of Binance exchange, having a bit of Binance coin in your portfolio will not cause any harm. Rather, it can bring a huge smile to your face in the near future. Originally launched to facilitate trades on the Binance Exchange Platform, the coin has been adopted across various platforms. It can even be used for payment processing and booking travel arrangements.
Binance Coins is currently trading for $313.90 per token. It is one of the most traded coins in the world – the 24-hour trading volume at the time of writing this piece is $1,996,013,441. That’s a little shy of 2 billion dollars. Three months, precisely on May 10th 2021, Binance Coin reached an all-time high of $690.93.
There are so many reasons to invest in Binance, and this appears to be a good time to do that. Any bullish market will definitely boost the price of the coin, and your investment can experience a major boost.
Litecoin can be described as a lovely cryptocurrency. Adding it or more of it to your portfolio can bring significant happiness in the future. It may not be the most bullish coin on the list, but it is a safe investment option with the potentials to reach new heights. It is best suited for patient investors.
Though it is one of the most popular coins out there, Litecoin is one of the oldest cryptocurrencies. It has been around for about a decade and has remained solid through the years. In terms of transaction time, it is still one of the fastest cryptos. Many traders and investors cherish this and several other qualities of the network and its native coin.
Litecoin is currently trading at $133.31 with a 24-hour trading volume of $1,929,823,297. It is the 13th ranked cryptocurrency and has several loyal investors. It is closely tied to the mother of all cryptocurrencies, Bitcoin, and any major bullish trade will most likely affect it in a positive manner.
Litecoin’s tie to Bitcoin is also an issue in a way. Though it is an improvement of Bitcoin, its price normally fluctuates in response to any fluctuation in the price of Bitcoin. However, knowing that Bitcoin will likely maintain its position as the biggest of all cryptos, Litecoin will also maintain its position in the market or even advance with time.
The price of Bitcoin might have slumped in recent times, but the coin is still the mother of all cryptocurrencies and the biggest of them all by many miles. Every real cryptocurrency enthusiast should have some units of Bitcoin in his/her wallet. The coin is not just prestigious but prosperous in many ways.
As the first cryptocurrency in the world, Bitcoin obviously has its flaws. But that doesn't make it a bad investment option at all. It is already a household name, so many new entrants consider investing in it before other digital coins. Security is another major reason people choose to invest in Bitcoin.
At the time of writing this piece, Bitcoin was selling at $38,283.80 with a 24-hour trading volume of $42,211,637,517. It has since secured its position as the number 1 ranked cryptocurrency, and it is not expected to lose the position in the foreseeable future.
Bitcoin reached an all-time high of $64,863.10 on April 14th, 2021. The current price is a significant drop from that figure, but there is no doubt that a real bullish market can see the coin surpass that record. Investing now that the price is still reasonable can make you the next Bitcoin Millionaire.
Cardano is one of the relatively new coins that has taken the cryptocurrency universe by storm. Launched in 2017, the coin has gained considerable market share and can now rub shoulders with the biggest coins on the market. Most of the coin's exploits are linked to the exploit of the Cardano network, which is super-attractive for several reasons.
One of the factors that set Cardano apart from the majority of underperforming cryptocurrencies is its adoption of proof of stake validation. The new and special method made it easier and faster for transactions to be confirmed and completed. The coin is also recognized as environmentally friendly and energy-efficient.
Cardano (ADA) is currently trading at $1.25 per token with a 24-hour trading volume of $2,429,801,591. The current price is a little above 50% of its all-time high value of $2.46, reached on May 16th, 2021. At the same time, it is about a 7,000% increase from the 2017 price of $0.02. Cardano is also the number 5th ranked cryptocurrency in terms of market capitalization.
Without a short time, Cardano has joined the list of elite cryptocurrencies and there is a general feeling that it will become a lot more valuable in the future. It has been compared to Ethereum and it will be interesting to see if the price will get closer to that of Ethereum with time. Remember that Cardano is selling at less than $1.5 now – there is no better time to add it to your portfolio.
There are many cryptocurrencies that run on the Ethereum platform and Uniswap is considered one of the very best ones. It is the native coin of one of the very first decentralized exchanges. One of the biggest selling points of Uniswap is that it uses what is called automated liquidity protocol for trading. This relatively new model incentivizes traders for providing liquidity.
Uniswap is one of the newest cryptocurrencies, but it has achieved a lot in a short while. It has attracted several investors and traders primarily because it offers different ways to earn while trading and investing in cryptos.
According to Coin Market Cap, Uniswap is trading for $18.30 at the time of writing this post. The 24-hour trading volume stands at $485,082,621. It is also the 11th ranked cryptocurrency in terms of market capitalization. Of course, that is a massive feat for a coin that was launched in 2020.
Within one year of existence, Uniswap has gained recorded over 5000% price increase. The launch price was around $0.48, which is a tiny fraction of the all-time high price of $44.97 the coin achieved on Mar 03, 2021. Uniswap will likely gain more value with time, so this is the right time to add it to your portfolio or increase what you have already.
Dogecoin became so popular earlier this year that many new crypto traders and investors believed it was a new coin and the next big thing. Well, the hype has reduced but the coin is still a worthy asset in any investment portfolio.
DOGE might have been hyped in the past by celebrities, influencers, and its online community. However, that doesn’t mean that the coin is not a worthy investment option. Hype or no hype, it has made some people millionaires and will continue to do so in the foreseeable future.
At the time of making this post, DOGE was trading at $0.1999 with a 24-hour trading volume of $2,844,209,309. It is currently the 8th ranked cryptocurrency in the world, in terms of market capitalization. DOGE reached an all-time high of $0.7376 on May 08, 2021, and there is a good chance that it can surpass that feat in the near future.
Though the value of Dogecoin has gone down in recent times, there are good chances that the coin can recover at any time. It has already gained market share and many of its investors are radically supportive of everything DOGE stands for. It is also a penny coin at the moment, so this is a good time to buy a reasonable quantity of it.
Let’s go back a bit – Ripple was the best performing cryptocurrency in 2017. You may say that was a long time ago, but can you believe that Ripple (XRP) recorded a growth of 36,000%? Fast forward to 2021, the coin also outperformed several big names on the cryptocurrency market. We are convinced that the best is yet to come for the coin.
Ripple XRP is the native coin of the Ripple Platform (RippleNet), which sets itself apart from other crypto platforms by offering seamless international transactions. People are attracted to Ripple because an international transaction that can take days with banks will take a few seconds with Ripple. This has resulted in several contracts with big banks and adoption by many institutions.
Ripple currently trades at $0.6466 with a 24-hour trading volume of $2,716,550,689. It is currently the number 6th ranked cryptocurrency in terms of market capitalization. The coin reached an all-time high price of $3.84 about four years ago (precisely on January 4th, 2018). It has fluctuated considerably from that point but has maintained its position as one of the biggest crypto assets in the world.
Ripple has had a lot of troubles in the past, including the fallout with the United States’ Security and Exchange Commission. Thankfully, it has emerged from all these problems stronger. Despite the impacts of the troubles, Ripple is still one of the most attractive coins out there. We also recommend the coin because it is cheap, which means there are rooms for beginners to get in with little capital.
Last, but definitely not the least in our list, in our list is Tether, the stablecoin pegged against the US dollar. Tether is a special cryptocurrency that helps traders and investors protect their portfolios from extreme volatility. Unlike other digital coins, its price doesn't change. Rather, it maintains a 1:1 ratio with the USD.
Tether can serve as a standard of measurement for cryptocurrency traders and investors. It is the most stable of all cryptos and is backed by a decent team. For every Tether USDT in circulation, there is a USD in reserve to maintain its value. Knowledgeable investors don’t worry about the long-term viability and sustainability of Tether as a special cryptocurrency.
As a stablecoin, Tether will not increase in price and make investors rich all of a sudden. However, it can preserve the value of investors’ money. Tether can also yield profit in the long run, especially when used strategically with other cryptocurrencies in your portfolio. The secret is knowing when to convert your other assets to Tether and when to revert to high-performance assets.
Like many other cryptocurrencies, Tether has had its fair share of troubles. It is considered a controversial coin for several reasons. It has been able to weather the storms in the past, and we are confident of its capacity to maintain its value and continue to bring stability to the crypto market. Adding adequate units of Tether to your portfolio will make it easier for you to convert your crypto assets to fiat money, back and forth.
Why You Need To Reassess Your Cryptocurrency Portfolio
Investing in cryptocurrencies can be very rewarding – we all know that. The reality many people don’t want to discuss is that crypto trading/investing is very risky. It is quite easy to lose a lot of money without necessarily making a mistake. The market is volatile and mostly strive on speculations.
In spite of the shortcomings of the cryptocurrency market, you can make a lot of money by investing strategically. The best strategy is to have the right coins at the right time and also sell your assets when the time is right. This also demands that you assess your assets from time to time to ensure that your portfolio is in a good position to take advantage of market trends.
As you probably know, the market is always changing, which is why you need to be proactive. Once you learn to maintain a good portfolio for a longer period, you will minimize your chances of losing in the market and improve your chances of making bigger profits.
The Major Benefits of Cryptocurrency Investing
Perhaps you are new to cryptocurrency investing and most of what we have discussed so far sound too good but too risky at the same time. You shouldn’t despair. Crypto trading can be highly rewarding when you play your card well. Here are specific benefits that are peculiar to the market:
- Crypto trading and investing has low investment barrier, meaning you can start with very little money
- The crypto market is open 24 hours a day, 365 days a year. Liquidity is almost never an issue as you can buy, swap, and sell crypto assets any time at all.
- Most cryptocurrency platforms are decentralized and highly transparent, unlike banks and other traditional investment outlets.
- Crypto trading allows you to diversify your assets. There are several cryptocurrencies out there, allowing you to minimize your investment risks.
- Fees in crypto trading and investing are significantly lower than fees in stock trading and other legacy asset classes.
Major Factors to Consider When Picking Your Crypto Assets
We’ve done the bulk of the job for you here by researching and picking the best cryptocurrencies that will bring sparks to your portfolio this year. Sooner or later, you may have to do the selection on your own.
Three major factors to consider when picking the best crypto assets include:
- Technology – choose cryptos that have solid technology and solve real-life problems
- Adoption – go for crypto assets that have been adopted for real-life transactions
- Track Record – though some new coins can be great, it is always better to choose cryptos with a track record of stability or those that are steadily gaining value with time.
Are You Ready To Spark Up Your Crypto Portfolio? Do It the Smart Way
At this point, we believe you know what investing in cryptocurrencies can do for your financial life. We also believe you fully understand the importance of being careful while trading/investing. The next important thing to keep in mind is that being smart in the market significantly increases your chances of success.
Besides picking the right coins to trade or invest in, one of the smartest moves you will make in crypto trading is knowing the right place to buy your assets. In our experience, we believe eToro, a multi-asset brokerage, is one of the best places to buy your digital assets. It is a friendly platform for traders and investors of all experience levels.
eToro – The Best Platform to Buy Cryptocurrencies
eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.