What Are The 10 Most Popular Cryptocurrencies In The UK?
Learn why these 10 popular cryptocurrencies in the UK are worth keeping an eye on.
Searching for the most popular cryptocurrencies in the UK? Read on. We’ll be explaining what are the top 10 most popular crypto assets and how you can start trading cryptocurrency in the UK.
Due to the ever-growing popularity of cryptocurrencies and blockchain technology, more and more coins are springing up in the market. Digital currencies have made a unique place in the market as an alternative investment asset for people of all classes. Especially in the UK, millennials and GenZ investors are more likely to buy cryptocurrencies and are frequent traders. So what are the top 10 most popular cryptocurrencies in the UK now to make a profitable investment portfolio? Let's see.
According to data from the Financial Conduct Authority (FCA), around 2.6 million people have bought cryptocurrency in the UK. That’s almost 4% of the adult population — a statistic which firmly places Britain as one of the top 10 most crypto-friendly countries in the world.
Britain is one of the most crypto-friendly countries in the world. So let us see whether these 10 cryptocurrencies have the potential to generate good returns in the future.
Top 10 Most Popular Cryptocurrencies In The UK:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Dogecoin (DOGE)
- Shiba Inu (SHIBA)
- Litecoin (LTC)
- Uniswap (UNI)
- Maker (MKR)
- Sushiswap (SUSHI)
- Ripple (XRP)
Whether you’re looking for the best digital assets or simply want to keep up with cryptocurrency trends, you’ll find something of interest in our list of the most popular cryptocurrencies in the UK.
1. Bitcoin (BTC)
Bitcoin, the pioneer of digital currencies, has always been the most popular cryptocurrency in the UK.
The price of Bitcoin has seen a colossal rise since the beginning of 2021. Even though the token had a dip in the May 19 market crash, Bitcoin has always risen significantly. The primary factor behind Bitcoin’s growth this year is the increasing demand from professional trading firms and institutional investors. It has also brought stability for its price, making BTC a good buy for future returns.
The newly emerged cheerleaders of Bitcoin include several billionaire hedge fund managers who are convinced that buying BTC is equivalent to buying gold. It is one of the most popular cryptocurrencies in the UK, and the key reason for it is its first-mover advantage.
Bitcoin started the legion of cryptocurrencies, and it is still the most preferred choice of investment for long-term investors even after years. The Financial Conduct Authority (FCA) study revealed that Bitcoin is the most recognized and accepted cryptocurrency in the UK. That is, BTC has established its unique position in the market and investors portfolio as a viable long-term investment option.
Bitcoin emerged in 2009, shortly after the Global Financial Crisis in 2007-2008, where the UK economy shrank, which is also one reason why BTC is popular in the UK. Therefore, with further development to its network and increasing adoption rate, BTC could significantly rise in value in the coming years, marking record highs.
Read Also: Bitcoin Price Predictions
Would you consider buying BTC, the most popular crypto asset in the world?
2. Ethereum (ETH)
With the launch of ETH 2.0, Ethereum would top the list of the most popular cryptocurrencies in the UK.
Since its launch via an ICO (Initial Coin Offering) in 2014, Ethereum has been the second-largest cryptocurrency in the market. The price of ETH remained strong even during the industry-wide setback of 2020. Unlike Bitcoin, ETH is not merely a cryptocurrency but a decentralized platform that facilitates immutable, programmatic contracts and applications.
Ether, the utility token of the Ethereum network, is used to buy and sell goods and services. The price of ETH has seen a massive rise earlier this year, hitting an all-time high of $4,362.35.
One of the most intriguing use cases of Ethereum that makes it the most popular cryptocurrency in the UK is its smart contracts features. These self-executing contracts make the network one of the preferred choices for developers and traders. Moreover, the network also hosts the most talked-about innovations today like non-fungible tokens (NFTs), decentralized finance (DeFi), and enterprise blockchain solutions.
Thanks to its recent upgrade, Ethereum could be a good buy now for investors for generating profit over the long run. Its much-hyped London hard fork was activated earlier this month, making the network more efficient. Part of the reason the popularity of Ethereum increased is that a software upgrade indicates necessary and significant changes happening to the code.
The London upgrade included Ethereum Improvement Proposal (EIP) 1559, which aimed to change how gas fees are estimated. Along with this, the launch of the much-awaited Ethereum 2.0 will significantly skyrocket the price of ETH to record highs. Furthermore, with the transition of its consensus mechanism to Proof-of-Stake, Ethereum would become environmentally-friendly crypto. This would undoubtedly give ETH an advantage over Bitcoin among environmentally conscious investors in the UK.
Because the demand for Ethereum has been rising steadily, both in the UK and the rest of the world, some experts believe that it could reach prices of $30,000 in the next few years.
Check Out: How to Buy Ethereum in the UK?
3. Cardano (ADA)
Cardano is so popular in the UK cryptocurrency market as the most actively developed project in the blockchain space.
ADA has emerged as one of the best performing cryptocurrencies in 2021 with its new feature rollouts and the significant surge in price. Cardano is a third-generation public blockchain platform that introduces new standards into the crypto space to facilitate interoperability across networks.
A key reason why ADA is the most popular cryptocurrency in the UK is that it is continuously tackling some of the crucial issues affecting large-scale blockchain adoption. This includes scalability, speed, and interoperability. Moreover, Cardano is the first cryptocurrency based on a Proof-of-Stake algorithm. Finally, its founders were highly conscious of the sustainable nature of cryptocurrencies, making ADA one of the best green coins to buy now.
However, with continuous developments, the token is becoming more innovative. For instance, the Cardano Foundation launched sharding for the tokens last year. It allows the partitioning of the network into local nodes (stakeholders). Thereby, the network will have faster processing times of 1,000 transactions per second per node or 1 million transactions per second for the whole network. This makes Cardano a future-ready coin with massive potential to double your investment over the long run.
The dedicated team behind Cardano is also planning to integrate smart contract functionality into the network by the end of the year. This will make Cardano a viable competitor to Ethereum, boosting the price of ADA to new heights.
Read Also: How To Buy Cardano In The UK
4. Dogecoin (DOGE)
Thanks to its vibrant community, the infamous Dogecoin is one of the most popular cryptocurrencies in the UK.
Dogecoin was created as a joke cryptocurrency to poke fun at the proliferation of Bitcoin knockoffs. But the steadily climbing price of DOGE in 2021has made it one of the fastest-growing cryptocurrencies in the market. Thus, Dogecoin is not merely a meme cryptocurrency but a token with huge potential to generate profitable returns.
It found its application in transferring small amounts of money instantly with incredibly low trading fees. It is also deployed for tipping content creators across various online platforms from a secured wallet, protecting users’ privacy.
But what drove the price of DOGE to record highs is its ever-increasing media popularity and celebrity endorsements. Dogecoin has received massive support from high-profile business names like the rapper Snoop Dogg and Gene Simmons. Moreover, Elon Musk and his tweets across social media platforms made DOGE a must-buy coin for wealthy returns. He called himself the ‘Dogefather’ via his Twitter handles, which skyrocketed the price of DOGE to its all-time highs.
The unique and vibrant community behind Dogecoin has increased its popularity in the UK market and worldwide. Also, the number of companies that accept DOGE as a mode of payment has significantly increased in 2021. For instance, prominent communities like the Dallas Mavericks NBA team, high-end car dealership Post Oak Motor Cars, luxury resort company the Kessler Collection, and Latvian airline airBaltic added DOGE to their accepted payment methods.
Check Out: How To Buy Dogecoin In The UK
5. Shiba Inu (SHIB)
With a fast-growing ecosystem and community, Shiba Inu is one of the most popular cryptocurrencies to consider.
Thanks to its dedicated community and potential use cases, Shiba Inu is more than just a meme coin. SHIB is an ERC-20 token that allows it to take advantage of the technology that Ethereum possesses. The project is a decentralized, community-building experiment developed within the Shiba Inu ecosystem. The SHIB coin has gained massive popularity in the UK cryptocurrency market, as a popular choice among investors, especially in the light of a bear market in Bitcoin and Ethereum.
One key feature of SHIB that makes it a potential cryptocurrency to buy now is its decentralized exchange, ShibaSwap. Users can trade several digital coins, and the developers are also planning to introduce NFT trading on the platform in the coming years. Unlike Dogecoin, Shiba Inu also has a whitepaper dubbed by its creators as Woof Paper that describes the token’s purported goals and future developments. Moreover, SHIB is one of the most popular cryptocurrencies in the UK market, as leaders of international chat rooms, social media influencers, and meme-makers are a part of the community that drives the token’s success.
Yet another significant reason why SHIB token is worth watching in 2021 is that it is slowly growing into a vibrant ecosystem with potential use cases and utilities. Also, the token is now accepted by platforms like Shopping.io, which lets users buy goods from places such as Amazon, eBay, and Walmart using crypto.
Moreover, the token is available in some of the most popular exchanges worldwide. Therefore, it is the best time for UK investors to buy SHIB as the coin is at its prime popularity and is valued in pennies.
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6. Litecoin (LTC)
Litecoin is one of the most popular forks of Bitcoin that is worth considering.
The purported goal of Litecoin was to address the scalability and speed issues of blockchain that Bitcoin could not solve. Since it is one of the purest forks of Bitcoin, LTC was created with the essential factors of the de facto cryptocurrency, along with some advanced features.
While Bitcoin turned into a store of value, Litecoin gained popularity in the UK crypto market as a transactional cryptocurrency. Its unique Atomic Swap technology facilitates seamless cross-border transfers. Therefore, LTC allows the transfer of everyday payments across borders at a relatively fast pace with low transaction fees.
Yet another factor that boosted the popularity of Litecoin is the release of the role-playing game LiteBinger that runs on its blockchain. Reports from Litecoin foundation states that transactions tripled in volume the week followed by the release.
However, the assets’ massive market capitalization and its established stability in the crypto space is one reason to buy LTC now for future returns. Litecoin has been in the market for over 10 years and is listed in almost all popular cryptocurrency exchanges. LTC is one of the best altcoins to buy now as it ensures high liquidity and profit potential for investors over the long run.
Moreover, thanks to Litecoin’s mining algorithm known as Scrypt, the token is highly energy efficient. With the heated argument about the sustainable nature of cryptocurrencies, LTC has certainly gained significant popularity as an environmentally friendly coin.
If you’re looking to start cryptocurrency trading in the UK, it could be a smart move to keep track of Litecoin’s performance. As it only just makes it onto the list of the top 10 biggest cryptocurrencies in the world, some investors may overlook it — but its recent developments should place it on your radar.
Read Also: How To Buy Litecoin In The UK
7. Uniswap (UNI)
As the best Decentralized cryptocurrency exchange protocol, Uniswap is one of the most popular cryptos in the UK.
Uniswap is a decentralized cryptocurrency exchange that enables DEX’s to swap tokens without relying on the liquidity created by buyers and sellers. With this token swapping, the network aims to solve the liquidity problems for the exchanges. In addition, Uniswap has its own governance token, the UNI, which has seen a massive price surge in 2021.
UNI allows token holders the power to vote on the changes like network upgrades to the Uniswap system. The Uniswap project has undergone a thorough review by the development community. Therefore, all the smart contract coding on the platform is verified and secure. Since Uniswap is non-custodial, it is an entirely safe network, as hackers do not profit from attacking it.
Yet another reason why Uniswap is a popular cryptocurrency is that it is an automated market maker (AMM). That is, the decentralized exchange offers numerous pairs of tokens to trade. Since it is built on the Ethereum protocol, Uniswap also allows users to perform ERC-20 token swapping. As a result, Uniswap is a good buy for traders as it does not charge any fees for it.
Moreover, Uniswap is a potential cryptocurrency built to tackle some of the most challenging problems in the market. Its unique decentralized nature eliminates the power and control accumulated by major exchanges like Binance and Coinbase. Uniswap has also gained popularity as the token that pioneered the liquidity pools. There are over a thousand liquidity pools currently on the platform allowing liquidity providers to profit by simply putting their funds into it.
However, experts say that the price of UNI would rise significantly in the coming years with further developments in the network.
Check Out: How To Buy Uniswap In The UK
8. Maker (MKR)
Maker cryptocurrency has gained popularity as one of the earliest projects in the decentralized finance world.
Maker is a unique Ethereum based decentralized autonomous organization (DAO) that enables anyone to lend and borrow cryptocurrency without any credit checks. MKR, the utility token of the Maker network, has gained significant popularity recently because of its use cases. Maker is one of the most popular ETH-based platforms available in the market.
There are over 2.1 million ETH locked in MakerCDP contracts. The Maker ecosystem is a testimony of a truly effective decentralized exchange governance. The platform has combined a selection of several proprietary technologies to achieve this task.
One significant reason why Maker is an investment-worthy crypto in the UK is its utility in the DeFi community. Decentralized finance is an ever-expanding sector in the market today, and Maker functions as a critical part of this community. In addition, the cryptocurrency also attempts to tackle the issue of transparency in blockchain technology.
CDP contracts make Maker an autonomous network. These are advanced smart contracts that are unique to the Maker ecosystem. Moreover, DAI, the first decentralized stable coin on the Ethereum blockchain, is the token that supports MKR. These special features place Maker on the list of the top popular cryptocurrencies worth watching in 2021.
Don't Miss: How to Buy Maker in the UK
9. Sushiswap (SUSHI)
The SUSHI token has shown good performance this year, making it one of the popular cryptocurrencies worth watching.
Sushiswap, the fork of Uniswap, is an automated market maker (AMM) that allows users to trade cryptocurrencies directly. The platform enables users to exchange, earn, borrow, lend tokens, stack yields, and even leverage funds. In addition, users can swap any cryptocurrency token based on the ERC-20 Ethereum protocol for another ERC-20 token in the liquidity pool created by the Sushiswap decentralized exchange.
The value and price of the SUSHI token increase as Sushiswap charges a trading fee for transactions on the network. This will also offer token holders to make a good amount of profit. Moreover, even liquidity providers are rewarded with the SushiSwap Liquidity Provider (SLP) tokens for staking their tokens in liquidity pools.
Yet another feature that makes Susiswap a potential cryptocurrency is its Minimal Initial Sushiswap Offering (MISO). It is a suite of open-source smart contracts designed to ease the process of launching a new project on the Sushiswap exchange. Therefore, MISO shows that Sushiswap is a potential, forward-thinking, cutting-edge architecture project. It also aims to include the hype-driven sector of NFTs and the economic potential of IDOs into its ecosystem.
SUSHI is a popular cryptocurrency available on all major exchanges like Binance, Huobi Global, and FTX. Additionally, the Sushiswap exchange allows users to quickly swap between 100+ ERC-20 tokens without the need for KYC. It is also backed by the strong support network provided by several affluent Chinese entrepreneurs.
Read Also: How to Buy SUSHI in the UK
10. Ripple (XRP)
Ripple XRP has always been a strong choice for financial institutions and investors looking for popular cryptocurrencies in the UK.
One of the reasons UK investors want to consider adding XRP to their portfolio is its real-world utility. Unlike other cryptocurrencies, Ripple aims to solve the high-cost issues of inter-bank transfers. Moreover, rather than completely disrupting the traditional financial systems, Ripple integrates the latest blockchain technologies, making them more advanced and accessible.
Ripple is one of the most popular cryptocurrencies in the UK, thanks to its partnership with various established financial institutions and banks. Also, more than hundreds of financial institutions across 55 countries are already using XRP to facilitate transactions. Its biggest customers include Bank of America (BAC) and American Express (AXP), among many others.
The price of XRP has seen a colossal rise over the past few years. This is because it helps banks and financial institutions carry out global money transactions instantly, without even considering exchange rates. Moreover, XRP has a faster transaction time as compared to other cryptocurrencies.
Therefore, buying XRP now would likely generate good returns in the future, as the coin is revolutionizing the way we transfer money and receive payments.
Check Out: How To Buy Ripple in The UK
Trade The Most Popular Cryptocurrencies In The UK
Cryptocurrencies have witnessed colossal growth over the past few years and have significantly influenced the world’s financial systems. Numerous crypto exchanges based in the UK offer all these popular cryptocurrencies. To start your trading journey, choose an exchange that suits your requirements after detailed research.
If you are looking for the top 10 most popular cryptocurrencies in the UK, these tokens are worth watching now. However, it is always essential to create a risk-proof investment strategy before investing in any cryptocurrencies to cut down your losses.
To start trading popular cryptocurrencies in the UK, your first step is to find a reputable UK broker.
The multi-asset brokerage platform eToro offers all of the cryptocurrencies that are included on this list. Fully regulated by the FCA, it’s an excellent choice for cryptocurrency beginners thanks to its popular CopyTrader feature. This enables you to watch the investment decisions of other traders in real time and automatically copy their strategy.
All in all, Copy Trading at eToro is ideal for those of you that want to trade popular cryptos but have no knowledge or experience of how trading works.
So, what are you waiting for? Explore eToro’s online trading platform, consider risks, and start trading the most popular cryptos today!
eToro – Buy The Best Cryptocurrencies In The UK
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
It’s important to remember that even the most popular cryptocurrencies in the UK aren’t guaranteed to bring you profits. Always carry out your due diligence before trading cryptocurrency in the UK.