Looking for cryptocurrencies to invest in 2021? Wondering what the top 10 digital assets are? Planning to build a profitable portfolio of cryptos this year? Then keep on reading and find out what 2021 holds for the cryptocurrency sector.
2020 started as a challenging year for trading with a lot of uncertainty. But things got surprisingly better towards the end of the year with cryptos, stocks and other assets trending upwards.
Fears that the coronavirus would start a global recession led to increased interest in cryptocurrencies and blockchain technologies.
Investors saw an opportunity to invest in cryptos as an alternative to traditional assets and as a hedge against inflation.
And blockchain technology became a normal part of the tech scene - just like the Internet.
Major financial institutions also recognised the potential of cryptos, which naturally led to broader adoption and a significant boost in prices.
2020 helped cryptos cement their place in the financial sector, and 2021 started with a bullish call for the whole market.
But that didn’t quite last. New all-time highs were cut down in mid-May and again the crypto market was in a panic. But that doesn’t mean that it’s all over.
If you want to dive into the crypto market quickly and easily, check out eToro Exchange!
The Top 10 Best Cryptocurrencies in 2021:
You can read our in-depth reviews of the top 10 cryptocurrencies this year to make an informed decision.
1. Bitcoin (BTC) - The Best Cryptocurrency To Invest In 2021
Even your grandma has heard of Bitcoin. The name resonates with crypto investors and blockchain enthusiasts for a reason.
Bitcoin is the first cryptocurrency that transformed the future of finance to a point of no return.
Though Bitcoin was created more than a decade ago by the anonymous figure Satoshi Nakamoto, it seems that this crypto will never go out of fashion.
Good Reasons To Invest In Bitcoin
Bitcoin’s popularity is key to its success. Many people have invested far too much money to leave BTC yet.
Though Bitcoin started as peer-to-peer digital cash, because of the immense value it has accumulated, it is closer to peer-to-peer digital gold.
People are holding on, waiting for Bitcoin’s value to increase. In January 2020, Omkar Godbole of CoinDesk reported that 10 million Bitcoins haven’t moved in more than a year.
Bitcoin is a long-term investment that doesn’t need much maintenance. You buy some and ignore it for a decade.
Why Investing In Bitcoin Could Be Risky
Bitcoin’s history is marked by highly volatile ups and downs. Amidst the crypto boom of 2017, BTC skyrocketed to above $20,000 before crashing down to below $4k almost a year later.
And we saw a repeat of this in 2021 after BTC reached $64,863.10 in April before it collapsed to $30k a month later. It had more than halved in value.
But as of June 2021, Bitcoin’s biggest concern is China which will implement a full ban on cryptocurrency mining. This is very bad for Bitcoin because supposedly 65% of Bitcoin mining is done in China.
Is It Worth Investing In Bitcoin?
Experts share strong views on BTC’s future with some predicting incredible targets of $100,000, $170,000 and $318,000 in 2021 and beyond.
Some claim that Bitcoin will replace gold as a store of value, which has a market cap of approximately $11.276 trillion. Indeed, Bitcoin is one of the best cryptocurrencies to invest in 2021.
One thing is for sure: many coins come and go, but Bitcoin is here to stay far beyond 2021.
Do you agree that Bitcoin (BTC) is the best crypto investment for 2021?
2. Ethereum (ETH) - Recuperating To $3k By December 2021?
Your portfolio won’t be complete in 2021 without Ethereum. Ethereum is the second-largest cryptocurrency after Bitcoin with a market cap of $214,874,458,781.
Though inspired by Bitcoin, Ethereum takes things in a very different direction.
Good Reasons To Invest In Ethereum
Created by visionary Vitalik Buterin, Ethereum is more than a payment system.
Ethereum can be used for the deployment of smart contracts and decentralised applications (dApps).
It is also a platform that supports the development of different ERC-20 tokens. Even Binance Coin and Tron were originally developed on the Ethereum blockchain.
Ethereum also supports different platforms that are active in the Decentralised Finance (DeFi) sector, which is a major advantage today. And the DeFi sector is one of the fastest-growing crypto trends of 2021.
In 2020, the number of assets locked in DeFi increased from $3 billion in 2019 to $13 billion. And guess what: Ethereum was the coin holding 96% of the volume of all transactions in the last quarter of 2020!
Not only that, but Ethereum facilitates the development of different blockchain-based games, which is another fast-growing industry across the globe.
Why Investing In Ethereum Could Be Risky
Ethereum’s move to proof-of-stake (Ethereum 2.0) could make it very vulnerable if it fails to improve how it works.
Most importantly, Ethereum needs to tackle its transaction fee volatility. It’s a very thorny issue that will lose them a lot of devs - they cannot work on a platform that’s not stable.
Cardano and the BSC and several other smart contract platforms also could represent a significant threat if Ethereum doesn’t provide a stable service, providing a potentially cheaper and potentially more advanced service.
Is It Worth Investing In Ethereum?
Despite the ongoing pandemic, Ethereum climbed from around $125 to over $600 in 2020, which was a surge of more than 380%!
ETH entered 2021 with a bullish start and by the 12th of May reached $4,362.35, a new record.
While price forecasters are cautious about the possibility of Ethereum breaking past its all-time high of 2021, they all seem to agree on the possibility of ETH increasing before the end of the year.
By December 2021, DigitalCoin estimates $3,010.98, Coin Price Forecast is aiming for $3,297, and slightly more bullish, WalletInvestor forecasts $3,389.260.
Is Ethereum (ETH) the investment for you?
3. Cardano (ADA) - Smart Contracts Launch Could Dethrone ETH In 2021
Cardano is a proof-of-stake blockchain platform with unique architecture and algorithm principles. Cardano is most similar to Ethereum, though it takes a more academic approach to development.
Good Reasons To Invest In Cardano?
Cardano is one of the top-performing cryptocurrencies of 2021, surprising everyone when it jumped into the top third position momentarily near the beginning of the year.
But what gets most of us excited about Cardano in 2021 is ‘Goguen’, which will be launched this year and will finally bring smart contracts. With
On top of that, Cardano’s second layer solution, Hydra, can theoretically enable Cardano to process more than 1 million transactions per second.
In the meantime, we have to mention that the price of ADA rose to $0.25 on the 5th January of 2020 - its highest levels since mid-2018.
No surprise that Cardano attracted a lot of investor attention, currently boasting more than 2,647 active stake pools.
Why Investing In Cardano Could Be Risky
Much of the value Cardano has gained is on the backs of promises that its services and smart contracts will be more advanced than anything else. Cardano is yet to deliver much of the functionality it promises.
This makes Cardano one of the most speculative investments in cryptocurrency today. Until smart contracts are delivered, we cannot be certain what Cardano will really be like.
A second concern is the amount of ADA tokens that are currently being staked. According to Staking Rewards, 74.17% of ADA tokens are staked with a value of $30,229,121,060 - the highest of any cryptocurrency.
This is concerning because it creates scarcity and a sense that there is a limited supply when there is not - the tokens are just not moving. This then artificially pumps up the value of ADA.
What this could mean is that Cardano might be overvalued.
Is It Worth Investing In Cardano?
With the number of ADA wallets increasing significantly, things look good. In January 2021, 4,000 new ADA wallets were registered.
And increased adoption can really help the price soar to new heights.
That said, price forecasters also do not believe Cardano will reach its all-time high of $2.46 either, but they are still positive of a price increase.
The Economy Forecast Agency, which is typically quite conservative, forecasts $1.92 by December 2021 at the highest.
Meanwhile, DigitalCoin estimates $1.8 for the same time, and Coin Price Forecast believes $1.63 is the best price for the end of the year.
How much would you invest in Cardano (ADA)?
4. Binance Coin (BNB) - Can The BSC Absorb ETH’s DeFi Market?
The four-largest coin by market capitalisation, BNB very much proved its value in 2021 after it made a tremendous rise to the top.
Good Reasons To Invest In Binance Coin
Binance Coin benefits from two major areas - the Binance Exchange and a growing DeFi market on the Binance Smart Chain (BSC).
The Binance Exchange is the largest cryptocurrency exchange in the world and traders who use BNB at the exchange to pay for transaction fees get a 25% discount.
This makes BNB incredibly useful to have, especially when there’s a buying or selling spree - just like there was in early 2021.
But Binance Coin’s real advantage is the BSC, a second chain that Binance created to support smart contracts and DeFi. And on this chain, BNB is used as fuel.
The BSC became incredibly popular in February 2021 when Ethereum transaction fees spiked. The BSC was seen as a cheaper alternative, and many devs hopped aboard.
Today, BSC has the second-highest number of DeFi projects after Ethereum, according to DeFiprime.
Why Investing In Binance Coin Could Be Risky
Binance Coin is highly centralised. Perhaps that isn’t too surprising since the Binance Exchange is a ‘CeFi’ (centralised finance - the opposite of DeFi) exchange.
BNB was created to make trading on the Binance Exchange easier and of course they do not want to give up control of something they created themselves.
Although BNB, a proof of stake coin that requires validators to verify transactions, is designed to be decentralised, voting rights go to coin holders, and 80% of BNB belongs to the exchange.
This means they have far too much control over Binance Coin. It puts into question your ownership.
Is It Worth Investing In Binance Coin?
Despite centralisation concerns, it is very much worth getting your hands on Binance Coin in 2021.
Price forecasters seem positive on BNB’s abilities to get back up past $300 and even get back to $500.
Gov Capital is the most cautious, estimating $333.7277 at the highest in December 2021 while DigitalCoin foresees $436.86.
Coin Price Forecast is more bullish and predicts $512 by the end of 2021.
Will investing in Binance Coin (BNB) make you rich?
5. Dogecoin (DOGE) - The Best Option For Short-term Profit?
The clown of the crypto class, Dogecoin, proved in 2021 that it is more than a joke.
Technically speaking, it’s not really special. Its value almost entirely lies with its backing - an army of Redditors and eccentric billionaire Elon Musk.
Good Reasons To Invest In Dogecoin
In 2021, a group of hardcore Doge supports on Reddit decided to pump up the price of Dogecoin and it worked extremely well.
The Redditors wanted to do the same thing WallStreetBets had done for GameStop stock.
Maybe, more importantly, was Musk’s backing of Doge that really pushed it into the top 10.
But before all this hype, Dogecoin did do something pretty useful for the cryptocurrency market. Using humour, it managed to make the idea of cryptocurrency more accessible to everyday people.
Prior to Dogecoin, when people thought about Bitcoin or crypto, they associated it with the dark web.
Why Investing In Dogecoin Could Be Risky
Very simply, Musk and Redditors could get bored of Dogecoin. Sure, they can pump up the price here and there, but that will only work so many times.
Plus, Dogecoin doesn’t have many technical advantages that could eventually lead to an increase in price. Its valuation is too tied to the hype around it.
And going back to Musk, who has ramped up interest in Dogecoin, it was revealed that he has been involved in Dogecoin since at least 2019, making his motivations questionable (especially after Tesla’s debacle with Bitcoin!).
Is It Worth Investing In Dogecoin?
In 2021, Dogecoin is a good coin to play around with for short term gain. But be open to the possibility of interest starting to wane in a few years.
But for the time being, price predictions are positive. By December 2021, Trading Beasts forecasts a high of $0.3757017, while The Economy Forecast Agency believes Dogecoin will be somewhere between $0.36-$0.45
Coin Price Forecast is the most bullish, estimating $0.71 by the end of the year.
How much do you think you could make investing in Dogecoin (DOGE)?
6. Ripple (XRP) - The Only Way Is Up After SEC Setback
Ripple is another unique coin worth considering in 2021. Released in 2012, Ripple gained a lot of support from major financial institutions globally.
Good Reasons To Invest In Ripple
Given its potential to transform cross-border payments at low costs, now Ripple is collaborating with over 300 providers across 40 countries. Some big partners are Banco Santander and JPMorgan.
Ripple was created as a better and less costly alternative not only to cryptos but traditional payments systems like SWIFT. And this is one of the reasons to buy XRP!
According to the Official Monetary and Financial Institutions Forum, Ripple can replace SWIFT in terms of security, speed, traceability, cost, transparency and risk management.
While XRP is Ripple’s native crypto, users can choose any currency to transact on the platform. We should note that while Ripple processes around 1,500 transactions per second, the company claims it can scale up to 50,000 transactions.
Why Investing In Ripple Could be Risky
Note that though Ripple had experienced steady progress throughout the years, a lawsuit from the US Securities and Exchange Commission (SEC) led to its uncertain current position in the crypto market this year.
Though it seems Ripple has gotten over the worst of it, the case is not over yet and there’s always the possibility that they could lose.
Is It Worth Investing In Ripple?
Even if Ripple loses its case, it could still make traders a handsome profit later on (people are still going to trade it and it still has a great use case).
Several price forecasters believe that Ripple could break through $1 again this year.
Trading Beasts foresees $1.1008154, and DigitalCoin predicts $1.07 both by December 2021. Elsewhere, Coin Price Forecast is more positive, rooting for $1.40.
What do you think? Is Ripple (XRP) a wise investment?
7. Uniswap (UNI) - The Future Of Trading Could See $75 By December
Uniswap is the most popular DEX (‘decentralised exchange’) and helps facilitate automated trading for DeFi tokens. It has sharply risen to people’s attention in the last couple of years.
Good Reasons To Invest In Uniswap
At its highest, in May 2021, Uniswap had over $8 billion in total value locked, according to DeFipulse.
‘Total locked value’ refers to the value of the assets that are staked on a platform. And this gives you a sense of how popular Uniswap had become during the bull run.
Further to that, DEXs are expected to overtake traditional exchanges in the future too.
They are seen as a more secure way to trade crypto because they use decentralised servers, making it harder for hackers to attack them, and also offer more privacy too.
Why Investing In Uniswap Could Be Risky
Uniswap is slightly more complicated to understand than other cryptos, which can be off-putting for some traders, particularly newbies.
You should understand a bit about how the crypto market works before getting into something like Uniswap. It is still a new concept for many, perhaps even a bit ahead of its time.
But perhaps the biggest drawback is that Uniswap is heavily tied to Ethereum and if Ethereum has issues, such as transaction congestion, it can impact Uniswap and lead to huge gas fees, for example.
Uniswap may also be developing a bit of a publicity problem with Trustpilot reviews not looking good.
Is it worth investing in Uniswap?
Uniswap might end up being one of those things that if you get in early, it could pay off massively. It could mark a new beginning to trading, but it is difficult to say for sure.
Price forecasts for Uniswap vary significantly for the rest of the year.
At the low end, The Economy Forecast Agency predicts a maximum of $28.31 and WalletInvestor foresees $55.176. At the high end, Gov Capital estimates $75.8011.
Is Uniswap (UNI) the best investment for 2021?
8. Chainlink (LINK) - Bridging Blockchain And Oracle Tech In A New Era
Chainlink is another hugely admired crypto that’s spent a lot of time hovering around the top 10. Chainlink sees a very clear issue with blockchain technology and has found a solution to fix it.
Good Reasons To Invest In Chainlink
Blockchains do not have much connectivity with the outside world, so if you create a smart contract that depends on something happening in the real world - how will it be activated?
Oracles! Chainlink is building a network of oracles that can feed live information to blockchains.
It’s a huge benefit that much of the cryptocurrency market is now attached to and cannot live without. If Chainlink suddenly disappeared, it would leave a huge gap in the crypto market.
Why Investing In Chainlink Could Be Risky
The biggest risk associated with Chainlink is that it is creating an industry that might not be necessary.
Sure, connecting blockchains more efficiently with the outside world will make the market more efficient but the market will still exist without it.
While Chainlink could improve how sports scores are kept, we can still do that without Chainlink.
The same goes for finance - or any other area where we need real-time information - there will always be a way to get hold of this information.
In the end, Chainlink’s approach of combining smart contracts and oracles might not be as beneficial or as exciting as we think.
Is It Worth Investing In Chainlink?
Chainlink is yet another cryptocurrency that could power a very revolutionary idea. So, yes, it may be another chance to get into something early on before it takes off.
Several price forecasters seem to strongly believe that Chainlink can push past $30 again before the end of the year.
Coin Price Forecast foresees $33.36 by the end of 2021 which is not far off DigitalCoin at $31.58 by December 2021.
WalletInvestor sees a minimum price of $32.802 and a maximum price of $40.282.
Is Chainlink (LINK) worth your time and money?
9. Bitcoin Cash (BCH)
Bitcoin Cash was created in 2017 as a faster and more scalable fork of Bitcoin. Today, Bitcoin Cash is one of the most popular coins to invest in.
Good Reasons To Invest In Bitcoin Cash
Bitcoin Cash was created with eight times larger blocks than Bitcoin, which were further increased to 32 MB. (This is one of the most significant differences between BTC and BCH.)
As Bitcoin Cash can handle more transactions, many experts and blockchain enthusiasts believe that Bitcoin Cash can become the main blockchain for executing online transactions.
As its major proponent Roger Ver tweeted: “Bitcoin and Bitcoin Cash are equally scarce, but Bitcoin Cash can actually be used for payments”.
And aside from facilitating everyday transactions, Bitcoin Cash also (quietly) launched a sidechain for smart contracts called smartBCH.
This now makes BCH a possible alternative to Ethereum, especially since the smartBCH can use Ethereum’s EVM (Ethereum Virtual Machine).
Why Investing In Bitcoin Cash Could Be Risky
Several transactional cryptocurrencies are vying to be the best for transferring value, and in a world increasingly about DeFi and coupling crypto solutions to resolve bigger issues, Bitcoin Cash is struggling to find its place.
A commonly cited issue with BCH is that by increasing the block size, it is less secure. Theoretically, one malicious transaction could do a lot more harm when the blocks are larger.
It is also worth noting that BCH failed to reach its 2017 all-time high in the 2021 bull run, possibly suggesting investors are less interested.
Is It Worth Investing In Bitcoin Cash?
Bitcoin Cash is an awesome investment for several reasons - primarily as a hedge against Bitcoin, but also as one of the most used cryptos for everyday transactions.
Based on what price forecasters are predicting, it is most likely that BCH will reach somewhere between $600 and $800 by the end of 2021.
Trading Beasts sees a maximum of $612.476 while DigitalCoin estimates a little higher at $661.02, both by December 2021.
Coin Price Forecast is bullish that BCH could reach $866 by the end of 2021.
Could investing in Bitcoin Cash (BCH) make you a millionaire?
10. Litecoin (LTC)
Litecoin is no doubt one of the best cryptos to invest in 2021. Created as a lite version of Bitcoin, Litecoin has made payments easier and faster.
Good Reasons To Invest In Litecoin
Note that it takes up to 2.5 minutes to process a block on Litecoin, compared to Bitcoin’s 10 minutes.
Its current price is another alluring aspect for investors and traders, making Litecoin an affordable alternative to Bitcoin.
The good news is that Litecoin keeps thriving for innovations. The release of the role-playing video game LiteBringer on the Litecoin blockchain is one of the projects that may lead to a boost in prices. Note that Litecoin transactions exceeded 130,000 after LiteBringer’s release.
No surprise that almost a decade after its initial release, Litecoin is still one of the top-performing coins. Currently, Litecoin ranks 13th, as per CoinMarketCap.
Why Investing In Litecoin Could Be Risky?
Similar to BCH, people are slowly losing interest in Litecoin, and it is becoming harder to keep traders curious.
But perhaps Litecoin’s biggest issue is its image. In 2018, it was revealed that Litecoin was the second most used coin on the Dark Web, accepted by up to 30% of illegal vendors.
This makes Litecoin a potential target for regulators and central banks who tend to stick to the narrative that cryptocurrency’s sole purpose is to break the law. (Though we already know this is not the case and shows they know absolutely nothing about crypto.)
Is It Worth Investing In Litecoin?
The year 2021 is going to be a promising one for LTC, with experts being confident that the price of Litecoin will continue to increase.
And the most promising change comes in the form of MimbleWimble, a blockchain protocol for private transactions.
Trading Beasts sees a maximum of $165.736 in 2021, but this might be too low. Coin Price Forecast sees $239 by the end of the year while WalletInvestor sees $258.268 by December 2021.
How much Litecoin (LTC) would you buy?
Bottom Line: Which Cryptocurrency to Invest in 2021?
2021 has been a crazy year so far for crypto traders and investors and we should note that the crypto market can be unpredictable and dependent on a variety of factors.
Some include supply and demand, market sentiment, crypto news and speculations, and tech advancements.
Although lists of top cryptos may differ, all of them could provide some good investing opportunities.
All that aside, Bitcoin is perhaps the best to invest in at the moment because of how well it has performed and the potential it has.
Ethereum, Binance Coin and Cardano are the best cryptos to get involved in for smart contracts, dApps and DeFi. You could invest in all three or only in the crypto you think has the best chances of succeeding.
Elsewhere, Bitcoin Cash and Litecoin stand out as the best alternatives to Bitcoin, albeit in its traditional sense as a transactional crypto.
Or, if you are looking for something more unique, Uniswap and Chainlink are your best bets - though do make sure you understand the concepts thoroughly.
And lastly, there’s Dogecoin that will likely continue to benefit from the hype created by Redditors, and Ripple which stands to recover ground after the drama with the SEC.
Whichever crypto you choose, always do your research before you invest! You should know it inside and out - the technicalities and anything else that could affect its price.
Track your favourite asset’s price live, analyse its past and current performance, and don’t forget to follow the latest crypto announcements.
In the end, mass adoption of cryptos is a matter of time. So, the question is not if but when? So, when are you going to dive into the market?
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Virtual currencies are highly volatile. Your capital is at risk.
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Investing in crypto can be done in four easy steps on eToro.
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Step 3. Make a deposit. You’ll need to make a deposit to buy crypto. Depending on where you’re located, the required deposit may be different. In most cases, it’s $200 or $50 in the USA. But there are several countries where the minimum deposit is much higher.
Step 4. Buy your chosen crypto. Go to Trade Markets, click Crypto and choose the crypto pair you want to trade.
And now you’re investing in crypto!
Key Points
If you remember anything from the Top 10 Cryptocurrencies To Invest In 2021, make it these key points.
- The year 2020 led to an increased interest in cryptocurrencies and blockchain technology.
- Despite the ongoing pandemic, the year 2021 is going to be a positive one for the cryptocurrency market.
- The top 10 cryptocurrencies to invest in 2021 are Bitcoin, Ethereum, Cardano, Binance Coin, Dogecoin, Ripple, Uniswap, Chainlink, Bitcoin Cash, and Litecoin.
- Crypto prices depend on different factors, including demand and supply, competition, technology, and market sentiment.
FAQs
Still have questions about the top 10 cryptocurrencies to invest in for 2021? Maybe these frequently asked questions will help?
Which Crypto Has The Best Future?
Right now, it looks like Cardano has the best future. Many people believe that when smart contracts are finally deployed on Cardano, they will be the best so far and it may dramatically increase the value of Cardano.
What Is The Next Big Cryptocurrency For 2021?
Binance Coin is one of the most successful cryptocurrencies of 2021, starting the year around $37.44 and reaching $690 by May!
This success suggests that it might achieve more throughout the year. With the BSC it is perhaps the only real rival to Ethereum.
Best Cryptocurrency To Invest In 2021 For Short Term
Dogecoin without a doubt is the best short term cryptocurrency investment of 2021.
It is incredibly susceptible to volatility and could be a great way to make some short-term profits.
Concerns over how long it can retain people’s interest make it likely not a great long-term investment.
Best Cryptocurrency To Invest In 2021 For Long Term
Bitcoin is the best long term cryptocurrency investment for 2021. It is quite likely that it should be held onto for a few years as it has the most potential to hit incredible highs.
Many of the biggest predictions for cryptocurrencies are for Bitcoin. The Winklevoss brothers, for example, believe that it will replace gold, which has a market capitalisation of approximately $11.276 trillion. (At the time of writing BTC has a market cap of $627 billion.)
Is Cryptocurrency A Good Investment?
If you have an appetite for risk, cryptocurrency is an excellent opportunity, but you need to exercise a lot of patience and not focus on minor fluctuations.
Many have become rich by trading cryptocurrency mostly because they got in early, way before the existence of cryptocurrency was common knowledge.
Many amateur traders jump into cryptocurrency because they hear of all the money to be made. But they don’t understand that cryptocurrency needs time to develop and receive adoption.
Don’t invest too much money in it, keep your investments diversified and never ever invest money you need to live. Crypto investing should be easy and not require your full attention.
Which Is The Fastest Growing Cryptocurrency?
Binance Coin is sometimes considered the fastest growing coin, mostly because of the increase of activity on the BSC after Ethereum’s transaction fees spiked.
You could also consider Tether as one of the fastest-growing cryptocurrencies. But this is because the bear market has led many traders to swap their crypto for Tether as a store of value until the market recovers.
Note that you can compare GitHub activity of different cryptocurrencies to see which crypto is developing the fastest. At the moment, Syscoin (SYS) leads the way in GitHub activity, according to CryptoMiso.
But remember that quantity is not an indicator of quality.
Which Is The Safest Cryptocurrency?
Because of the number of Bitcoin users, it is practically impossible to hack it. You would need an incredible amount of computing power to defeat all the people on the Bitcoin network.
Bitcoin is also one of the worst cryptocurrencies to use for anything illegal because everything can be traced.
What Is The Cheapest Cryptocurrency?
Shiba Inu is currently the cheapest listed coin on CoinMarketCap (which lists approximately 10,642 cryptos).
But do note that buying the cheapest cryptocurrency might not be worth it. Instead, what you should aim to buy is a cryptocurrency that has a trend and is increasing in price.
There’s no point in buying a cheap crypto that won’t increase in price.
Why Did Cryptocurrency Value Fall In 2021?
When Tesla announced that they will no longer accept Bitcoin as a payment method, the value of many cryptos practically halved in value.
Elon Musk later explained that they would look for a cryptocurrency that consumes less than 1% of what Bitcoin does. And as Bitcoin plummeted, so did much of the crypto market as is usually the case.
Before this point, the cryptocurrency market performed really well at the end of 2020, and it continued into the beginning of 2021. And by May 2021, many of the top cryptocurrencies had reached new all-time highs.
What made the situation worse was in June 2021, when the Chinese government told banks and payment providers to stop supporting digital currency transactions.
Further to this, mining in the region of Sichuan was ordered to be stopped too.
However, don’t view these events as a failure, and don’t assume that cryptocurrency is doomed.
Instead, this should be viewed as a chance to get into cryptocurrency while it is cheaper, bearing in mind that most cryptocurrencies are still trading higher than they did at the start of the year.